All Forum Posts by: Collin Schwartz

@Katie Sorensen thank you!

@Chris Pomerleau thanks buddy, if only I could get my fashion style as synced up as you I would be unstoppable! jk. You are a great partner.

@Brett Chemaly I got the recommendation from listening to the Jake and Gino Wheelbarrow profits podcast. Great story, although fiction it holds many truths. I invest in B and C class assets in B and C+ class areas.

@Jack Bobeck exactly! great points!

@Stanford Neal Mead can you provide more details about the area of town? What are comps selling for? Are utilities separtely metered? Is the building built for purpose? Best of luck man, make sure to get a sewer scope!

@Adam Anderson thank you sir! At minimum 100 more as I have realized that the more units equals more capitol...which equals ability to outsource.... which equals kinda/sorta not really passive income! Honestly I am enjoying what I am doing. 1000 units is not out of the question. Its a great feeling to provide improved housing and providing jobs to other individuals who want to be their own boss.

@Jeremy Roberts thanks man! If you are going to move to Omaha I suggest May... It snowed yesterday...! Thanks for the encouraging words!

@Stanford Neal Mead I would be happy to help. BUT please realize that I have only been doing this for a short time.. I AM NOT AN EXPERT! I have made lots of calculated but risky decisions based on knowing my family, wages, living expenses etc. With that if you want to get my opinion I am very happy to help! Best of luck! Thanks for the kind words!

@David Cornett the first building I purchased an agent @Colton Luchsinger sent me on BP. It was in a booming area of Omaha, 3 plex for 258k (not the best price but still a greta purchase). Its rents at the time were $2200 a month and 2/3 of the tenants were horrible and not paying rent. I would have never purchased if I hadnt of met my partner @Stephen Sykes. As an experienced investor he saw the true value, he also helped guide me into property management. The property appraised at $305k. I learned about managing a property rehab.. and struggled. Went through eviction proceeds and had to deal with parents complaining about why it was ok that their kids did not pay rent.... 

Fast forward, the current rents are $3,150 a month and I have some of the best tenants I could ask for! Everyday was a challenge but it was super exciting and life changing.

This deal was not a day one home run but it got me in the game. Also it is making returns WAY beyond what the useless equity in my home was providing. 

I financed the property using a HELOC for my down pmt and commercial lending for the remainder. Cash flow for the rehab (do NOT recommend doing), but better than not doing a deal.

@Owen Dashner thanks for the kind words, the "grey hair" generation such as yourself has been instrumental in my progress!