{"id":90871,"date":"2017-08-03T00:02:17","date_gmt":"2017-08-03T06:02:17","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=90871"},"modified":"2023-04-14T00:53:17","modified_gmt":"2023-04-14T06:53:17","slug":"biggerpockets-podcast-238-real-estate-millionaire-teacheraes-salary-michael-swanny-swan","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/biggerpockets-podcast-238-real-estate-millionaire-teacheraes-salary-michael-swanny-swan","title":{"rendered":"Becoming a Real Estate Millionaire on a Teacher\u2019s Salary with Michael \u201cSwanny\u201d Swan"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Is it possible to invest in real estate if you live in an expensive market\u2014and earn a teacher\u2019s salary? According to today\u2019s guest, it\u2019s not only possible, but it can be incredibly profitable! Today\u2019s guest, <strong>Michael Swan<\/strong>, is a P.E. teacher who lives in San Diego but has used the valuable real estate concept known as \u201ctrading up\u201d to acquire millions of dollars in real estate. You\u2019ll learn why Michael liquidated his entire retirement plan to buy his first few deals, the truth about \u201cluck\u201d and real estate, and some fantastic tips for buying and managing properties\u2014even from a distance. (And if you work a full-time job or make less than $100,000 per year, this show might just change your life!)<\/span><\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC5046466411&#038;light=false\" width=\"100%\"><\/iframe><\/p>\n<h2>Watch the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" title=\"Becoming a Real Estate Millionaire on a Teacher\u2019s Salary with Michael \u201cSwanny\u201d Swan | BP Podcast 238\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/pDin2hzLlv8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Help Us Out!<\/h2>\n<p>Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found <a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/161423-do-you-listen-to-the-bp-podcast\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>. Thanks! We really appreciate it!<\/p>\n<h2>This Show Sponsored By<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77567 alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/simplisafe.png\" alt=\"simplisafe\" width=\"271\" height=\"58\" title=\"\">Check out <strong>SimpliSafe<\/strong> Security&#8217;s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn&#8217;t require a contract!<\/p>\n<p>Try it today with a discount:\u00a0<a href=\"http:\/\/simplisafepockets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">simplisafepockets.com<\/a><\/p>\n<h2>Fire Round\u00a0Sponsor<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-74647 size-gallery-block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2015\/08\/freshlogo-214x140.png\" alt=\"freshlogo\" width=\"214\" height=\"140\" title=\"\">A huge thanks as well to our\u00a0sponsor <strong>FreshBooks<\/strong>.<br \/>\nFreshBooks customers spend less time on paperwork, freeing up <span class=\"tooltips\">2 days per month<\/span> to focus on the work they love. What would you do with that extra time?<\/p>\n<p>Learn more by visiting\u00a0<a href=\"http:\/\/www.freshbooks.com\/pages\/biggerpockets?ref=11568&amp;utm_source=bigger-pockets&amp;utm_medium=podcast&amp;utm_campaign=2015\" target=\"_blank\" rel=\"noopener noreferrer\">FreshBooks<\/a>.<\/p>\n<h2>In This Episode We Cover:<\/h2>\n<ul>\n<li>Why Michael\u2019s nickname is <strong>Swanny<\/strong><\/li>\n<li>How he realized his <strong>financial ladder<\/strong> was leaning on the wrong building<\/li>\n<li>Tips for utilizing <strong>IRAs and penalties<\/strong><\/li>\n<li>Whether purchasing <strong>11 condos<\/strong> is a good idea or not<\/li>\n<li>The story of the <strong>15-unit<\/strong> apartment complex<\/li>\n<li>How he went from $5k in <strong>cash flow<\/strong> to $24k<\/li>\n<li>Whether <strong>luck<\/strong> had to do with his great deals<\/li>\n<li>Tips for buying areas in with both <strong>cash flow and appreciation<\/strong><\/li>\n<li>His formula for <strong>financial freedom<\/strong> (using multifamilies)<\/li>\n<li>A discussion on <strong>single families versus multifamilies<\/strong><\/li>\n<li>How to <strong>find deals<\/strong> in your market<\/li>\n<li>Tips for seeking out the perfect<strong> property manager<\/strong><\/li>\n<li>How many <strong>units<\/strong> he has now<\/li>\n<li>How to tackle <strong>big projects<\/strong><\/li>\n<li>How he manages his work with his time as a<strong> teacher<\/strong><\/li>\n<li><strong>And SO much more!<\/strong><\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Forums<\/a><\/li>\n<li><a href=\"https:\/\/www.zillow.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Zillow<\/a><\/li>\n<li><a href=\"https:\/\/www.craigslist.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Craigslist<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in this Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/richdadpoordad\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Rich Dad Poor Dad<\/em><\/a>\u00a0by Robert Kiyosaki<\/li>\n<li><a href=\"http:\/\/amzn.to\/2uX5LW7\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Multi-Family Millions<\/em><\/a> by\u00a0David Lindahl<\/li>\n<li><a href=\"http:\/\/amzn.to\/2v0f6dZ\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Loopholes of Real Estate<\/em><\/a> by\u00a0Garrett Sutton<\/li>\n<li><a href=\"http:\/\/amzn.to\/2uX2iGS\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The 7 Habits of Highly Effective<\/em><\/a> by Stephen Covey<\/li>\n<li><a href=\"http:\/\/amzn.to\/2uXhDY6\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Think and Grow Rich<\/em><\/a> by Napoleon Hill<\/li>\n<li><a href=\"http:\/\/amzn.to\/2uZRvdk\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The 10X Rule<\/em><\/a> by Grant Cardone<\/li>\n<\/ul>\n<h2>Fire Round Questions<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/52-rental-property-questions-landlording-issues\/topics\/465738-what-strategies-do-you-use-to-find-the-right-property-manager\" target=\"_blank\" rel=\"noopener noreferrer\">What strategies do you use to find the &#8220;right&#8221; property manager?<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/52\/topics\/465971-is-a-skunk-in-the-yard-my-responsibility\" target=\"_blank\" rel=\"noopener noreferrer\">Is a skunk in the yard my responsibility?<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/432\/topics\/466089-apartment-bedrooms-2-1-or-studios\" target=\"_blank\" rel=\"noopener noreferrer\">Apartment bedrooms 2, 1 or studios<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/311\/topics\/465994-investing-in-san-diego\" target=\"_blank\" rel=\"noopener noreferrer\">Investing in San Diego<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/466327-investing-in-rental-income-properties-out-of-state\" target=\"_blank\" rel=\"noopener noreferrer\">Investing in rental income properties out of state<\/a><\/li>\n<\/ul>\n<h2>Tweetable Topics:<\/h2>\n<ul>\n<li>&#8220;Living in San Diego, if I am able to do it, anybody can do it.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22Living%20in%20San%20Diego,%20if%20I%20am%20able%20to%20do%20it,%20anybody%20can%20do%20it.%22%20BP%20Podcast%20238%20biggerpockets.com\/show238%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;Luck is when preparation meets opportunity.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22Luck%20is%20when%20preparation%20meets%20opportunity.%22%20BP%20Podcast%20238%20biggerpockets.com\/show238%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;Make sure you make connections with everybody.&#8221;\u00a0(<a href=\"https:\/\/twitter.com\/home?status=%22Make%20sure%20you%20make%20connections%20with%20everybody.%22%20BP%20Podcast%20238%20biggerpockets.com\/show238%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;I don\u2019t take advice from someone that has less than me.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22I%20don%E2%80%99t%20take%20advice%20from%20someone%20that%20has%20less%20than%20me.%22%20BP%20Podcast%20238%20biggerpockets.com\/show238%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<\/ul>\n<h2>Connect with Michael<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/Mikeswan1234567\" target=\"_blank\" rel=\"noopener noreferrer\">Michael&#8217;s BiggerPockets Profile<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Is it possible to invest in real estate if you live in an expensive market\u2014and earn a teacher\u2019s salary? According to today\u2019s guest, it\u2019s not only possible, but it can [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":118302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-90871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/90871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=90871"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/90871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/118302"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=90871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=90871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=90871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}