Rental Property Owner & Real Estate Investor Podcast

One of the tools that I use as an investor in multi-family and commercial apartment real estate is my subscription to CoStar.  This is an online tool that allows me access to information about properties I would have a difficult time finding elsewhere.  When it comes to researching off-market opportunities, CoStar gives me an edge that has been very helpful over the past five years. Today I talk with Grant Webster, the client relationship manager for CoStar Group in the West Michigan region.  CoStar Group also owns LoopNet and Apartments.com, and I've subscribed to those services as well.  Grant and I discuss how these subscription services can help investors research investment properties, gather information that's not readily available, and market their existing units to a targeted market. If you've ever thought about subscribing to these services, or wondered what benefits they might have for you as an investor, then this episode is one you'll want to hear.

I firmly believe that one of the best ways to get into real estate investing in order to create your own financial freedom is to purchase a multi-family property and live in one of the units.  This is called House Hacking, and its a fantastic way to build wealth while reducing your expenses by having your tenants pay your mortgage. Today I'm excited to take this concept to the next level with Kevin Murphy, who just completed his first House Hack.  The exciting part is that he discovered a little known way to finance the purchase and rehab costs using a HUD 203K loan in which he put down less than $4,000 for the purchase and rehab. Now Kevin's tenants are paying his mortgage and utility costs, he is living 'rent free', and pocketing several hundred dollars a month!  Not bad for a recent college grad! Today, Kevin walks us through the entire process:  His search for the right property, how he learned about this loan, and the challenges he faced making it come together. If you'd like to learn more about Kevin an

Whether you're just beginning your Real Estate Investing Career, or you've been doing it for a while, I know you'll enjoy my interview today with Courtney Sorrell.  Courtney and her husband became Reluctant Landlords when they had to leave their new house in Portland, Oregon and move across the country to find jobs during the Great Recession.  We'll discuss the lessons she learned during this period and how Courtney is investing in Real Estate to provide for her retirement. Courtney & her husband are "House Hacking" their way to financial freedom, and we'll talk about their search for Multi-Family property, and how a duplex she recently purchased didn't turn out quite the way she planned. Courtney also talks about the 'Millennial' generation and her outlook on retirement, investing and self-sufficiency.  

Today's episode is going to expand your financial IQ in ways that will help you make more money from your real estate investing. Many of us get so caught up in finding, buying and managing our properties, that we don't pay enough consideration to what happens next.  Every investor needs to have their exit strategy in mind in order to maximize the money we get to keep when we sell. Today's guest is Mark Andresky, and he is a Certified Exit Planner and Certified Business Intermediary with Performance Business Advisors, LLC.  Mark also teaches the "Exit Strategies" course for the RPOA. During our conversation Mark discusses how exit planning can work to avoid surprises when you sell, specifically when it comes to taxes on your profit.  Mark & I also discuss depreciation recapture, which is something you definitely want to be prepared for when you sell.  Other topics of discussion include leverage & risk, entity selection, tax-deferred savings plans, estate planning & leaving a legacy. Enjoy & Lea

Today I talk with Kim Post from Post & Associates Appraisals and Next Door Properties, LLC.  Kim shares stories from her 30 + years of investing in rental property. We talk about her transition from being a full-time teacher to following her passion for construction, real estate & rental property.  Kim prefers to buy her investment property using Land Contracts &/or Seller Financing, and explains how she's able to make that work. We also discuss her recent Off-Market acquisition of 29 multi-units and the challenges she's faced in Rehabbing, Improving, and Managing a property with residents who would never have passed her screening criteria, including some with criminal backgrounds. Enjoy & Learn!

I know you're going to enjoy my interview today with David Kirchgessner.  Dave is a successful investor and realtor, who also happens to be the lead singer of the popular ska punk band Mustard Plug.  It's Mustard Plug's song "Mr. Smiley" that you hear at the beginning & end of every podcast episode. Dave shares with us how he's been able to create and support his lifestyle through real estate investing, which he realized in his early 20's was the only way he'd be able to support himself while he pursued his music career. Dave also talks about the investments in Single Family and Two Family homes he's made and shares details on purchasing, rehabbing and managing them.  We also discuss a building development that Dave bought with some friends that didn't go as planned, and a new investment in Northern Michigan that he almost bought sight unseen. Dave is also a realtor with Greenridge Realty, and will give us his perspective on the current market and the trends he's seeing as a real estate 'insider'. You can

Two episodes ago Brandon Krieg from Honeybee Homes shared his tips and techniques on Wholesaling for huge profits.  If you haven't heard that episode yet, I highly recommend you give it a listen. This week Brandon has returned to discuss his Fix & Flip secrets to success.  He'll talk about what type of property he looks for, how he runs his numbers, and share stories of deals that were highly profitable and a few that weren't. We also talk about Brandon's involvement with the West Michigan REI, as well as the Rental Property Owner's Association. You can contact Brandon through his website at: http://thehoneybeehomes.com/    

Instead of posting an interview on this Holiday Monday, I thought I'd take this opportunity to talk about a key financial ratio that you'll hear a lot from brokers and investors, but may not completely understand.  I'm referring to the Capitalization Rate, or Cap Rate as its commonly called. This won't be a technical discussion that will make your eyes glaze over.  Instead I'll share with you my simple explanation that I teach in my advanced financial analysis course through the RPOA. Happy 4th of July!      

Today I'm excited to sit down and talk with Brandon Krieg, an experienced wholesaler who also does fix & flips.  Brandon is the owner of Honeybee Homes, and has a lot of great knowledge and experience to share with our audience. If you've ever considered wholesaling as an investment strategy, or are looking for better techniques to ensure your success, then you won't want to miss Part One of this interview! Many of our listeners will recognize Brandon as the co-founder of the West Michigan REI Club.  You may have also listened to one of his interviews on other podcasts, including Bigger Pockets. You can contact Brandon through his website at: http://thehoneybeehomes.com/  

Today I'm thrilled to be talking with Rod Khleif, the host of the "Lifetime Cash Flow through Real Estate" Podcast. As one of America's top real estate professionals, Rod has personally owned more than 2,000 single family homes and multiple apartment communities. Rod shares his rags-to-riches-to-rags-to-riches story, from his humble beginnings as a young, impoverished Dutch immigrant to incredible success.  Rod also discusses his remarkable triumphs, and spectacular failures, which he affectionately calls 'seminars'. We'll talk about the 800 Single Family Home Portfolio he lost in 2008, and how he's now rebuilding his fortunes through multi-family investing.  Rod also tells us why he prefers multi-family to single-family and how multi-family can help protect you during the next economic downturn. As a bonus, you can listen to this week's episode of Rod's podcast "Lifetime Cash Flow through Real Estate" to hear Rod interview me, Brian Hamrick, about my career in Real Estate Investing.  Be sure to check out bot

If you are a new investor who is looking to buy rental property, or you're a current owner looking for ways to improve your methods, I believe you'll get a lot out of my conversation today with Tina & Wes Emert from City Wide Real Estate Services. Tina & Wes offer services ranging from Real Estate Brokerage, Rehabbing, Property Management and Asset Management.  They take a 'Success-Based' Approach rather than a 'Property-Based' approach, and we'll discuss exactly what that means during our wide-ranging discussion that contains a lot of valuable tips for every level of Rental Property Owner & Real Estate Investor. You can reach Tina & Wes through their City Wide Real Estate Services website at: www.cwresmi.com

If you've ever wondered about investing in Self Storage Facilities, then this is an episode you don't want to miss.  Michael Laragy built a rental property portfolio over 30 years, and then decided to sell it off in order to invest in Self Storage.  Today Michael will walk us through his journey: why he decided self storage was the way to go, how he found his facility, and what he's done to make it successful. We'll also talk about the rental properties he used to own, and how he was able to purchase many of them for 'Nothing Down', using techniques he learned from Real Estate Guru Robert Allen. No matter what type of real estate investing you're interested in, our conversation contains decades of wisdom and experience from someone who's managed to invest successfully, transition from a full-time job to full-time investor/business owner, and has a ton of knowledge to share.

The Good, The Bad, and The Ugly:  Last week successful investor Steve Whitteberry shared his stories of 'The Bad & The Ugly' with us.  Today we get to discuss 'The Good'. Steve will discuss his use of Self Directed IRA's and how they're helping him prepare for retirement.  We'll also discuss 'Alligators' and how they can eat up all your Cash Flow. And we'll also compare our experiences purchasing two separate 4-units, both of which were bought for a great price at the bottom of the market, but had two very different outcomes for each of us.

The Good, The Bad, and The Ugly:  Sometimes we come across deals that are too good to be true but we suspend our better judgement because the person selling those deals is so persuasive and says all the right things. Steve Whitteberry is our guest today.  Steve is a successful real estate investor who will share his stories of making investments and working with certain investors that he later came to regret.  Steve will share the valuable lessons he learned from these experiences that will hopefully prevent you from making the same mistakes. In part one of our interview we will also discuss Robert Allen's 'No Money Down', the value of land, and helping people who are going through the foreclosure process.

Many experienced investors can share this story: the one about the deal they chased for months or years, spent countless hours and phone calls and emails and money on, invested all their energy and emotion into, and no matter how hard they tried, it just wouldn't close, it couldn't close, and eventually they had to admit defeat and walk away. Dealing with these types of setbacks can be devastating.  But learning to overcome them can be life changing. Today we discuss what happens when 'failure is not an option' turns into 'failure is inevitable' with Keith Littlepage, a successful investor and business owner who is brave enough to share his story of the Florida land deal that almost broke him and the aftermath that no one could have expected. Keith will also discuss his use of private money, and an unlikely funding source he's discovered that has been a 'game changer' for him. To Contact Keith go to blueskiesfunding.com  

Last week Ken Jenkins shared with us how he used direct marketing to find, negotiate and purchase an 8-unit multi-family and duplex in Plymouth, Michigan. Today Ken & I discuss the 20-unit multi-family he was able to acquire in Belleville, Michigan when he discovered it through a Craigslist add. Ken will take us through his negotiations with the seller who insisted on an all-cash purchase, and what happened when he was faced with multiple vacancies and had to fire his management company. Once again Ken takes the time to share his methods, numbers, and every gritty detail - including stories of death, drugs and doing whatever it takes to be successful!  

Discovering Off-Market Real Estate opportunities that cash flow and offer great upside potential is like finding the Holy Grail for Real Estate Investors.  Today I talk with someone who's managed to do this twice since he began three years ago. Ken Jenkins is an investor from the Plymouth/Canton area just outside of Detroit, Michigan, and he has had great success in finding multi-unit properties through direct marketing, negotiating for the best deal possible, and creating value by improving the property and raising rents. We will discuss how he began as an investor, then he will take us step-by-step through his process of finding, negotiating and asset managing an 8-unit and duplex in Plymouth, Michigan.  Be ready to take notes, because Ken will be delivering you a master class in Real Estate Investing!

Interview with Harvey Hansen from Indoor Climate Solutions.   Every residential rental property has a system for keeping your residents warm in the colder months, and if they're lucky, cold in the warmer months. Depending on the age and condition of these systems, you or your resident could be spending a lot more on utilities than is necessary. In order to save and make more money, its important to understand how these systems work and how they can be more efficient.   Today we talk about the different types of equipment that are used to heat and cool your property with Harvey Hansen from Indoor Climate Solutions, a Grand Rapids based company since 2006. We'll be discussing forced-air systems, hot water heat and air conditioning choices as well as energy saving tips and techniques that will save you money and help you avoid possible disaster.

Interview with Angela Hovermale from Banner Drywall To be successful as a real estate investor it helps to know and understand your 'why'. Why be an investor in the first place?  Is it just to make money, or is there a deeper reason? Today I sit down to talk with local investor and business owner Angela Hovermale about her 'why's', and how they've led her and her husband to invest in her own backyard and improve the neighborhood and community they live and invest in.

Patrick Spitzley Interview: We've all seen those shows on HGTV where investors buy a house out of foreclosure or auction, fix it up, flip it, and make a killing.  It all looks so sexy glamorous and fun.  But is it really like that in real life? Today I talk with someone who does rehabs & flips for real.  Patrick Spitzley is the owner of the Spitzley group.  He buys the worst of the worst and goes in with his crew to 'bulletproof' the home by completely rehabbing it top to bottom.  We're going to talk about his philosophy on flipping, rehabbing, building spec homes, private money, and his recent trip to Nigeria and what he learned there that will help him in his investing going forward.