Rental Property Owner & Real Estate Investor Podcast

In today's tight housing market, landlords can be much more selective in who they rent their properties to. Because of this, there are certain groups of tenants that are finding it more and more difficult to find affordable housing. Today we're going to talk about one of these groups and the efforts by the state and West Michigan community to help them. We're going to take a look at Returning Citizens, those who have been incarcerated, served their time, and are looking to re-enter society and find stable housing - which is an important part of preventing recidivism. This episode will definitely be of interest to landlords who are willing to consider the benefits of renting to returning citizens, as well as anyone interested in understanding the difficulty they face in finding a place to live. This is a round-table discussion, and we've gathered a great group of guests to share their perspectives: Angie Sprank is the Community Coordinator for Region 4 Offender Success Program and helps returning citizens remain successful in their transition back to society. Shellie Cole-Mickens is the Founder and Director of House of Blessings, providing housing and support for women with mental health and substance abuse challenges as well as extensive criminal histories. She is also a returned citizen since 1996. JoNathan Martin is a returned citizen since 2015, and works closely with other returning citizens to offer them support and guidance. Ruth Walters is an officer with the Grand Rapids Police Department and runs a program called "CLEAR" for returning citizens to assist them in staying in the community. For more information on the Offender Success Program in the West Michigan area you can contact Angie Sprank at: spranka@michigan.gov 616-902-5994 For those outside of Michigan, you can contact your state's Department of Corrections.

Despite the higher turnover and maintenance costs, as well as the additional tenant headaches, investing in C & D rental properties can be more lucrative if you have a plan and know what you're doing. Dan Essink owns and invests in Lower Income properties in the Muskegon, Michigan area. He also manages them through his company, DICE Property Management. Today, Dan is going to share his experiences and perspective with us: How he got started by house-hacking his first duplex, the true cost of evictions and how he manages to avoid losing additional money on turnovers, and setting your boundaries with residents so they don't consume all of your time and effort. Dan also talks about the property he's buying on Land contract through both his Self-Directed IRA (SDIRA) and his Health Savings Account (HSA) with only $15,000 down. We'll also learn Dan's conservative thought process when it comes to investing in 401k's, running APODs, and understanding Amortization Tables and loan terms. Dan shares a lot of great info in this episode that I know you're going to appreciate. Please take a moment to give us a rating and review on itunes. Enjoy!

Recently I received the following email from RPOA member and podcast listener Maureen Weick: I have 1.5 acres of vacant land in northern Allegan County. I have been trying to decide what to do with it and would love to hear some opinions. These are my questions/thoughts - 1) Do I just sell outright as vacant land? ---Not a fan of this one - I will have capital gains to pay, unless I can manage the sale under a 1031 Exchange 2) Should I put a used double wide trailer there (this is rural lot) and rent it out? If I did that, should I put on a slab or a full basement? 3) Should I build a small home there and rent it out? Again, basement or slab? I hear it is quite expensive to build right now --but will that ever get any better.....? If this was your property what would you do? In order to answer these questions I asked Justin Workman to sit down with us and go over Maureen's options. What followed was a lively discussion about 1031 Exchanges, building spec homes, buying mobile homes, and other possible options that will be of interest to any real estate investor. Enjoy the show. If you have a question you'd like us to consider for the podcast, please send me an email: brian@higinvestor.com

Mark Podolsky began investing in Raw Land with only $3,000. Seventeen years later, he's completed over 5,200 land deals with an average Return-on-Investment of 300%. Today Mark is going to share his Raw Land Investing techniques, and how he teaches other to make huge returns without putting any of their own money at risk. Mark is the owner of Frontier Properties, a very successful and reputable land investing company. He's also the host of several podcasts, including "The Art of Passive Income Podcast". And he's the author of the recently released book "Dirt Rich: How One Ambitiously Lazy Geek Created Passive Income in Real Estate Without Renters, Renovations, and Rehabs". Mark will share why you don't need money to get started investing in Raw Land, how he's able to do all of his due diligence on his computer, the ways he's systematized his business, and how he's confronted his fear of death. There's a lot of great info in this episode, and you can learn more about Mark and investing in raw land by going to his website: www.thelandgeek.com Also, if you send an email to support@thelandgeek.com and mention this podcast, Mark will send you a free Passive Income Launch Kit.

As the host of this podcast, I enjoy getting questions from our listeners. As a member of the RPOA, I love having experts on hand to help me answer those questions. Today Mark Troy joins me to answer listener questions and share his wisdom and experience gained over 18 years in the business. Mark is the Managing Broker at Compass Realty Services and the Director of Real Estate Investment at Compass Property Management, both of which he is the original founder and co-owner. Mark and I discuss whether one of our listeners should raise their tenant's rent, and under what conditions they shouldn't. We also help a listener decide whether they should replace their roof for $12,000, or just patch it for the next 3 to 5 years for $1,500. We also discuss the "End Game", and common exit strategies investors use to maximize their gains and take their chips off the table. Mark also talks about 'Managing the Manager', and what he's noticing in today's market in terms of rent increases and sales volume. Mark manages and has been involved in the acquisition of thousands of rental properties, so I know you're going to learn a lot from his unique perspective. You can contact Mark through Compass Properties or his email: https://compass101.com/ mtroy@compass101.com

Should Rental Application Fees be Banned? Today we're going to discuss an issue that's happening right here in Grand Rapids, but it affects landlords and rental property owners everywhere. It has to do with the affordable housing challenge communities are facing as rents rise and neighborhoods gentrify. As tenants find it increasingly difficult to locate and afford housing, those communities and their elected representatives are pointing the finger of blame at landlords, investors and property management companies, and looking for ways to legislate our behavior in order to solve this problem. Just this week the Grand Rapids Mayor and City Commission voted to approve a rental application fee ordinance, which will be very consequential to all of us who provide rental housing. In order to help explain and understand this ordinance, I'm joined by the RPOA's Director, Clay Powell. Clay has been involved in this issue on the RPOA's behalf since its inception, and is going to break it down for us in order to understand how it will impact the way we screen tenants, collect application fees, and advocate for our rights as rental property owners. You can learn more about the RPOA and become a member by going to www.rpoaonline.org

In today's tight real estate market its very difficult for investors and home buyers to find good investment deals. Believe it or not, there are still plenty of opportunities in Distressed, Foreclosure, and Bank-Owned Properties. One of the ways to find these deals is through Auction.com. Today I sit down with Casey O'Neill to discuss the transparency Auction.com is bringing to the distressed market, and the emphasis they place on helping potential investors with due diligence. Casey also warns of the pitfalls and risks in investing in distressed properties that you may not get to inspect fully before purchasing. We'll also talk about the bid process as well as the timeline and costs associated with purchasing. And Casey shares his thoughts on Michigan's Foreclosure laws and how they could be improved. If you've never used Auction.com, this episode is a great introduction to a potential source of opportunities. If you've ever bid on Auction.com then you'll definitely find some useful tips on how the system works. I hope you enjoy this episode and ask that you take a moment to give us a review and rating on itunes.

Ratan Khatri is a strong believer in the power of leveraging other people's money through syndication. He's recently completed his first syndication with the purchase of 50 single family homes in Muskegon, Michigan, and he'll be investing in Senior Assisted Living, Mobile Home Parks, Self-Storage, and Multi-Family through syndication as well. Today Ratan & I discuss his philosophy of investing, and why he believes its better to own 10% of ten things rather than 100% of one thing. Ratan also shares his thoughts on the economy and why he's investing in different asset classes. You'll also learn how Ratan has added additional value to his real estate through simple upgrades and improvements. Ratan is also the owner of RKP Management, which manages over 200 homes in Muskegon, Michigan, with an emphasis on helping veterans and low-income families. Ratan has been active in improving tenant screening in the Muskegon area, and those efforts have been paying off with decreased turnover for his & other's properties. Ratan also discusses the immigrant experience, and why certain immigrants are so successful after moving to the United States. You'll learn what separates America from the rest of the world, and why our streets are 'truly paved with Gold'. I know you'll enjoy this episode and the wisdom Ratan has to share. You can contact Ratan through his property management company, linkedin, or phone: http://www.rkpmgt.com/ 231-206-1181

Vinney Chopra came to America with $7 dollars in his pocket and a dream. Today he Asset Manages a $172 Million dollar portfolio of Multi-Family Properties. He's done over 26 syndications and has over 3,100 apartments under management. The great thing about Vinney is that he can raise $6 to $10 Million dollars without breaking a sweat, but he remains humble and friendly and willing to share how he does it. In today's conversation Vinney will tell us how he went from being a failure at door-to-door sales to buying thousands of doors through syndication. You'll learn how Vinney talks with potential investors and the techniques he uses to raise millions of dollars. We'll also discuss the importance of salesmanship and the marketing tips Vinney has learned along the way. Vinney also shares the return-on-investment he shoots for with his investors, why he started his own property management company, and the people and books who have influenced his thinking in a positive way. Vinney is one of the most positive and inspiring people you'll ever meet, and I know you're going to enjoy this conversation. You can learn more about Vinney by checking out his website: http://vinneychopra.com/

Calvin Beeke left college to become a full-time entrepreneur, found success with a business he created, and then decided to become a full-time real estate investor. Within a short span of time, Calvin has dived right in. He likes to have three flips going in any given period: one that he's just purchased, one that is being rehabbed, and one that is being sold. At the same time, Calvin is building his Buy & Hold portfolio of value-add investments with a focus on mid-sized Multi-family. He owns 17 units on his own, and over 50 units with his investment partners, ranging from a duplex up to a 24 unit Multi-family. Today Calvin and I discuss how he gets his leads and finds his deals, how he's increased his Net Operating Income by increasing rents and lowering expenses, and the value of purchasing your own laundry machines. Calvin also takes us through the numbers on a 12-unit he purchased in Lowell Michigan and the mystery of his extraordinarily high water bill. We also discuss the pro's and con's of Freddie Mac and Fannie Mae loans and the different terms to pay attention to. Calvin has built a profitable portfolio quickly, and I know you're going to enjoy learning how he did it. Enjoy the episode and please take a moment to give us a review & rating on itunes.