All Forum Posts by: Michael Swan

We decided to pay taxes on a few of those.  We did not have to do so,

Yes.  @Brian Garlington

I no longer have any properties in Cleveland.  Mine are in Lake County.  I have heard nothing about that for my apartment complexes there.  Shhhhhhhhh🤫.  However, a good PM like you have should have researched this for you already and advised.

Swanny

@Niobe Burden Austere

Feel free to message me if you would rather not give the address or the specific area.

Swanny

@Niobe Burden Austere

It is good you are asking us now, before you get in to deep.  Where is this property?  

Are you getting a good deal, like $50,000 under comps?  I have 230 uninstalled in NE Ohio.  I can direct you quickly if I knew the area and address. 

Swanny

@Rebecca Bauer

Feel free to message me if you want to talk Cleveland RE etc..
I love this stuff!!

Swanny

Hi @Rebecca Bauer

You are right!! Although, I do have agency debt and most of my 230 units are in Lake County and we have evicted all the deadbeats that we’re trying to take advantage and clinging to the 5 cdc requirements but did not follow them.  So, the judges kicked them out.  The ones that were honest we worked with and PRC Lifeline paid all the money they owed back to us and a month future rent too.  My Euclid 12 unit CHN paid for a few of my tenants 6-10 months they owed us too!!  It is on now!!!  

“WE ARE BACK IN THE SADDLE AGAIN!! BACK!!!! (Aerosmith).

Swanny

Hi @Dennis Nikolaev

I sold my 8 condos one at a time here in San Diego and 1031 exchanged my way to financial freedom and am retiring from my 20 yr teaching job this summer and am financially free.  You can do it too.  I just sold one condo at a time and bought  10 unit, 8 unit, 12 unit, another 12 unit, 15 unit, and a 21 unit, and a 24 unit.  One condo we did a straight sale on and paid the taxes on that one.  If I can do it, you can too!!  

I 1031 exchanged them for apartment complexes in NE Ohio too!! Feel free to message me to discuss.  I live in Mira Mesa in San Diego too!!

Swanny

Hi @Elizabeth Aguilera

What kind of 1031 exchange money are you talking about? Make sure you talk to investors like me that have tons of units (I have over 230 units) on Bigger Pockets in NE Ohio.

Swanny

Way to go Brian!!

Swanny

I would think upstate New York a bit you could find some nice 2br 1ba Condos for about $100,000-$125,000 that rent for at least $1,000-$1,100.00 and with HOA fees under $200.00 a condo. That's where I got my start and told my story of how I did it in San Diego of all places in 2011-2012. No Joke. It was on Podcast 238 where I told my story!! If I can do it, anyone can. @Gervon Thompson or anyone else that want to contact me I always love to talk to BP people about how I did it and they can do it too!!

If you change the way you look at things, the things you look at can change right before your eyes and you can be financially free, just like me!!!!!!  I retire from teaching this summer too!!!  My RE investing the last 10 years has allowed me to retire 10 yrs early at 55 yrs old!!  Some of you are a lot younger.  I did not invest in my first little rental condo until I was 45 yrs old!!!

What a feeling to be financially free!! You can do it!!!

Swanny