Rental Property Owner & Real Estate Investor Podcast

My guest today has spent the last few years building and acquiring small businesses and real estate investments to create diversified income streams.  He’s invested in franchises, hair salons, laundromats, short-term rentals, car washes, and other assets with lucrative returns but not a lot of information available on how to get started.  Luckily, he’s been documenting these experimental investments along the way and will be sharing the details with us today. Keith Leimbach has served as COO and CEO of several companies and he spent 30 years in the corporate world.  He served on a US Presidential Advisory Committee and hosts the “Diversified Income Experiment Podcast”. Today Keith is going to open the books on his investments and take us on a deep dive into investing in Laundromats, Hair Salons, and Car Washes.  He’ll go into the compelling financial reasons these assets offer superior profit potential, the cost of build-out, expense ratios, and challenges of the different client or end user. It’s extremely d

I’m excited to be talking with a good friend and mentor of mine today about raising equity from investors.  Al Vardya successfully exited a 26-year career in the Information Technology Industry and began investing in Real Estate back in 2011.  He started with single-family homes that he still owns and manages, and then began investing in commercial real estate such as Class B Multifamily, hospitality, and office buildings. One of Al’s many strengths is that he has created and maintains partnerships with sponsor groups syndicating private placement deals.  Al has also built a family and friends network of investors providing capital for these syndications.  He invests both as a limited partner and also co-sponsors some of these deals as a General Partner. To date, Al has raised over $42 Million in investor equity across 37 projects, 12 of which have been exited for an average annual return of 37% to his investors. Today we’re going to discuss what qualities Al looks for in his sponsors and the type of groups a

The RPOA's annual conference will be held virtually in 2021! Each month beginning this Thursday, February 18th, we'll be bringing you an exciting new main event - national speaker, deal room, breakout sessions, or legislative and economic updates - in addition to each event having plenty of opportunity to network (up to 500 people per event!) and chat with vendors and sponsors! The conference is free to everyone this year and will be held over the course of 12 months. We'll be using the Remo conference and networking platform. You can learn more about it here: https://www.michiganreiconference.com/about-remo Don't miss our first event on Thursday, February 18th at 11am! GVSU Economics Professor Paul Isely will provide a real estate investment and rental economic update. With plenty of uncertainty still ahead for the economy due to COVID-19, Paul's expertise in this area is incredibly relevant and invaluable. Paul's presentation never disappoints and is always a crowd favorite each year! And make sure to stick

My guest today can best be described as someone who has overcome great odds to achieve incredible things.  Terrica Lynn Smith is a real estate broker and investor holding over 250 properties in Louisiana.  She’s the developer of a $14Million mixed-use community and founding partner of one of the largest private real estate crowdfunding companies in her state.  She also has created her own board game that she designed to teach development concepts, and she’s been invited to the White House. Terrica has also had to overcome enormous difficulties and challenges, including growing up in the foster system, homelessness, and Hurricane Katrina. Today Terrica is going to share how she was able to get her real estate license after failing the test many times, how she realized that 3% commissions weren’t going to cut it, how she sought out a particular type of client, and why most of those clients left her when she made a pivotal business decision. We’ll also discuss Terrica’s rehab projects, the board game she develop

According to the Mortgage Bankers Association, the delinquency rate for mortgage loans on one to four-unit residential properties has reached the highest level since 2010, when we were deep into the great recession.  As of November 2020, over 7.6% of borrowers are 90 days or more behind on paying their mortgage.  In the midst of this national crisis, what effect is this having on investors who own and service their notes. And how are these investors working with their borrowers to provide forbearance and other options to keep people in their homes? Here to discuss the state of note investing during a pandemic is a real thought leader in the mortgage note investment industry.  Martin Saenz brings social good into smart investing through his company Bequest Funds which acquires and profits from performing and distressed mortgages.  He has directly helped over a thousand families stay in their homes, and countless more through the influence of his mentorship. Today Martin is going to discuss how he’s working wit

My guest today just completed his first syndication on a 76-unit apartment complex in St. Louis, Missouri, right in the midst of the Covid pandemic. Lee Fjord got his start in property management and began investing for himself in 2016.  Through the Power of Partnerships he’s done a series of joint ventures and has built his portfolio up to 124 doors.  Today he’s going to share the up’s and down’s of his investing trajectory. Lee has a decades-worth of experience as a Property Manager, Commercial Leasing Agent, Asset Manager, and Commercial Property Broker. In today’s conversation Lee shares the mistakes he made on rehabbing his first duplex, why you should never accept the lowest bid from a contractor, how he partnered with an ex-NFL player to acquire 37 units, and the reasons he ended up syndicating his 76-unit apartment complex. I know you’re going to benefit greatly from listening to Lee’s story.  He very methodically built a portfolio that’s positioned to expand rapidly.  You can find out more about Lee

What does it mean to build Legacy Wealth in real estate investing?  Many of us are doing deals, making our offers, rehabbing and flipping our properties, and trying to make a profit.  But when we look beyond our day-to-day workflow, what do we see ahead of us?  Are we actually building Legacy Wealth that will allow us to retire with passive cashflow and support our families when we’re gone? We’re going to discuss that topic today with Joe Bell. He’s an expert at helping Real Estate Professionals build legacy retirement and wealth, and he’s the author of “Asset Acquisitions & Abundance: A Guide To Building True Wealth & Legacy Through Real Estate” Joe has been named in the “Top 40 Under 40” in Alaska, and has been featured in places such as ABC, NBC, Digital Journal, Investor Place, and more.  Today, Joe is going to describe the challenges he faces investing in properties near Anchorage, Alaska, how he’s using the BRRRR method to build cashflow, and the benchmarks he’s set for himself to build Legacy w

Real Estate Investing can present many challenges that both new and seasoned investors find difficult to overcome.  If you’re investing out-of-state, it might be difficult to get a broker price opinion, title search, or secure a property that has gone vacant. In my own business, we quite often need someone to mow the lawn on an REO, or help us create a Dodd Frank compliant mortgage.  More often than not, we find ourselves needing to ‘cure’ a title defect on a non-performing note. These are all complicated tasks that are either time-consuming or outside our area of expertise.  That’s why it’s so important to have a ‘guy’ who can handle it. Dickie Baldwin is that guy, and through his company, Baldwin Advisory Group, he helps investors all over the country with many types of legal, property, title, and financing challenges.  Dickie has over 35 years of Real Estate experience as a Realtor, Loan Originator and Mortgage Professional.  He’s solved many problems for investors, and he’s here to share some of those sto

When it comes to successful real estate investing, having access to reliable and accurate data can have a huge impact on your profit potential.  Technology has brought us to a point where there’s an abundance of data available, you just have to know where to find it and how to use it properly.  Today’s guest is levelling the playing field by helping small businesses and investors get access to the same data and public records that are coveted by larger firms. Sean O’Toole flipped over 150 properties in Silicon Valley before he strategically exited the market in 2006 to focus on real estate technology.  He founded ForeclosureRadar in 2007, and in 2013 he pivoted away from foreclosures to general real estate with the launch of PropertyRadar. Today, Sean is going to help us understand how data should drive our decisions, what we should look for when applying data to our due diligence, and why having access to the right data can create a consistent pipeline of opportunities and be a game changer.  We’re also goin

My guest today could be called ‘prolific’ in many different ways.  First of all, he’s an accomplished Film Composer in Los Angeles who has created music for many popular movies and tv shows.  He’s also prolific in his Real Estate Investing in that he’s created 72 Streams of Income and enjoys his share of the cash-flow from over 25,000 rental units consisting of Single Family Rentals, Apartments, Self Storage, Mobile Home Parks, Retail Shopping Centers, and Notes. Bryan Miller is an Investor, Developer, and Film Composer. In his 16 years of Real Estate Investing Experience he’s Flipped over 20 homes in multiple markets, raised over $7 Million in private money, and he’s currently building 46 Single Family Homes and 58 Rental Units in Los Angeles.  Today, Bryan is going to share how he built those 72 streams of income, starting with the single family rental he purchased in Los Angeles and the 19 Phoenix AZ Condos he bought during the great recession at huge discounts.  We’ll also learn about the passive investin

Many businesses are struggling to stay afloat during this Covid-19 pandemic, and Commercial real estate is no exception.  So how can real estate investors and professionals stay ahead of the curve, and what type of calculated risks could actually be beneficial for commercial real estate? Today, we’re going to talk with an attorney who’s 30 years of experience has given him insight into how to navigate this crisis in order to survive the rapidly changing commercial office and retail real estate market. Johnny Merritt is a Texas-based attorney experienced in complex corporate and real estate matters. He represents billion-dollar corporations and multi-million-dollar real estate developers.  And today he’s going to help us understand the extent of the damage to commercial real estate as the opportunities in this arena.  We’re also going to discuss how landlords can work with their tenants to either forgive or defer payments, why you should always look for the ‘right of first refusal’ clause in a contract, and ho

During the Great Recession there was a lot of opportunity for those who knew how to invest in short sales and foreclosure properties.  As the economy improved over the past 10 years, these strategies were needed less and less for various reasons. But now with Coronavirus’ impact on our economy, is this cycle starting up again?  My guest today not only has an answer to that question, she is actively investing in, and teaching others to invest in, pre-foreclosure and short sales. Dwan Bent-Twyford has been on numerous TV shows, she’s written four best-sellers, runs her own blog and YouTube channel, and her mission is to teach people how to build a business that they can pass down to their grandchildren, just like she’s doing. Today, Dwan is going to do a deep dive into short sales and the foreclosure process.  She will share who she contacts at the bank and the conversation she has with them, her persuasion techniques to get the price she wants, and how she finds her distressed homeowners through strategic mark

What does it take to find off-market deals and convert the owners of these properties into sellers? My guest today is going to help answer that question.  Sterling White is a multifamily investor who specializes in value-add apartments in Indianapolis and other midwestern markets.  In just under 10 years he’s created a $19 Million portfolio through his company Sonder Investment Group. Sterling is a seasoned Real Estate Investor, Philanthropist, Speaker, Podcast Host & Mentor.  He’s also the author of the book “From Zero to 400 Units” and hosts “The Real Estate Experience Podcast”. Today Sterling is going to explain what it means to overcome limiting beliefs and the three major steps he took in his life to overcome those beliefs, how he approaches owners directly and converts them into sellers, and the art of the follow-up and how it’s helped him get to that all important ‘yes’.  Sterling is also going to share the decision that cost him $1Million, and how you can avoid making that same mistake. I know you

Housing values have been rising steadily since the Great Recession, and many people, like myself, have been watching from the sidelines while investors and homeowners pay prices we wouldn’t have dreamed of ten years ago.  Many investors think the housing market shows troubling similarities to 2008, but my guest today disagrees and believes the housing boom is just getting started and today he’s going to explain ‘why’. Bob Fraser is the Founder & Principal of Aspen Funds and has purchased more than 1,000 mortgage notes earning double-digit annual returns.  Today he’s not only going to discuss his optimistic outlook on the housing market, he’s also going to share how you can take advantage of one of the most effective and overlooked avenues of real estate investing. If you’re able to watch this episode on youtube you’ll also enjoy the charts and data that Bob has brought which show the economic trends of the housing market.  Bob makes a great case for why the housing market still has plenty of room to conti

Anyone who has spent time researching notes and seller financing is going to be familiar with today’s guest.  Over the past 40 years he has purchased more than 40,000 notes and his NoteSchool executive team has bought 3.5 billion dollars in notes.  He’s an esteemed teacher of all aspects of real estate notes, won many industry awards and is an inaugural inductee into the Small Balance Real Estate Hall of Fame. Of course, I’m talking about Eddie Speed, and I’m excited to finally have the chance to talk with him.  At his core, Eddie is a problem solver who is skilled at finding opportunity in the challenges most investors aren’t able to solve.  In finding those creative solutions, Eddie is able to achieve exponential profits.  Over the past decade he has helped countless investors expand their portfolios by the millions using his out-of-the-box techniques --- and today he’s going to share a new strategy that he’s teaching & using himself to make huge profits. Eddie’s going to discuss the creative ways he’s

My guest today played goalkeeper for a Big 12 Championship-winning women’s soccer team, spent years touring the world as the lead guitar player in a punk rock band, and became a millionaire by the age of 31 by strategically investing in short term and vacation rental properties. Avery Carl owns a portfolio of 30 properties and is the CEO and founder of the Short Term Shop, a real estate team that helps investors acquire short term rental properties in the most recession resistant markets, and trains them on the methods that led her out of the corporate rat race and into financial freedom. Today, Avery is going to help us understand the right markets to invest in, the difference between buying an Airbnb and vacation rental investing, how you can self-manage a short-term rental remotely from anywhere, and how to analyze a potential vacation rental for optimal ROI and cash-on-cash return.  Avery will also share the type of loan she uses to finance her vacation home acquisitions. There is a huge amount of valuabl

Today we’re going to talk about the dirty and gritty side of investing in real estate and the unglamorous aspects that most rental owners have to deal with, such as septic clean ups, eviction clean-outs, pre-1920’s construction and investing in C & D, and even F properties.  These are the parts of our business that people rarely think about that can actually be quite profitable. And here to share his experience in this area is Mike Bonadies, a landlord and co-owner of a New Jersey-based property management company called TerraVestra, as well as a maintenance, preservation, and construction company called Side By Side MRO. Mike owns 25 units of small multi-family and mixed-use, and he manages 225 units.  His maintenance and preservation company has worked on over 600 units and foreclosures, and they specialize in pre-1940 Multi-family construction. Today Mike is going to share his knowledge on the different types of electrical wiring and plumbing materials to look for during an inspection, septic and fuel

One of the reasons people are reluctant to start investing in real estate is that they don’t want to deal with tenants, toilets & trash.  And anyone who manages residential real estate will tell you that it can be very stressful and time consuming. My guest today is going to help us tackle those reservations head on.  He believes that property managers can take their real estate investments to the next level through simple tweaks to their mindset and tactics, especially when it comes to working with tenants. Gary Spencer-Smith has over 20 years of experience in real estate and is an active investor with more than $10 Million in single family homes, commercial real estate and resort properties.  He also just completed his new book called “The Property Manager Mindset: Reduce Stress, Save Time, Earn More Money” and he’s the co-owner of RevNYou, a growing real estate education platform. Today Gary is going to share Property Manager Mindset Shifts that will help you become immune to emotional manipulation, th

Spend the Night with me in a Haunted House! Welcome to Part 2 of our Halloween Series on Haunted Houses, Apparitions, Paranormal Experiences, and the Roommates who don’t pay rent & can’t be evicted. In part one (episode #251) you were introduced to a retired reverend who has been experiencing paranormal activity and communicating with the dead since his near-death experience at the age of 5. You also met several of his paranormal research assistants and heard their stories as well. Today, we’re going to take you on a ghost hunting adventure to a haunted house in the historic district of Bay City Michigan.  You'll find out the strange reasons we were brought there in the first place, how the homeowner was almost pushed off a ladder by a ghost, and what happened that night after 2 A.M. that is so strange, and so hard to explain, that I can't wait to share it with you. If you're experiencing paranormal activity in your home, rental property, or place of business, you can contact Reverend Hunter through his p

Welcome to our Special Halloween Edition with all new stories about Haunted Houses, Apparitions, Paranormal Experiences, and the Roommates Who Don't Pay Rent, and Can't Be Evicted. We did something similar 3 years ago on EP#94 and it was one of my favorite all-time episodes.  Today we go even deeper into paranormal phenomenon and I know you're going to love this incredibly thrilling episode! I recorded so many great stories that I had to break them up into two episodes:  In Part One you'll meet a group of Paranormal Researchers and the Retired Reverend who has brought them together.  In Part 2 you'll get to accompany me to a Real-Life Haunted House in Bay City Michigan. I want to warn you that some of these stories will frighten you, and some may even terrify you.  If you're easily scared or prone to nightmares, then this is not the episode for you.  Aside from the sound effects I've added in, everything you're about to hear is the actual professed experiences of the people involved.  These are real people, w