All Forum Posts by: Michael Swan

Hi all this is Swanny from Podcast 238.  I traded all my RE in for apartment complexes in Ohio and we have won every eviction over there due to the judges being tired of these mental midgets lying regarding Covid and not following the CDC standards on their end.  

Crazy!!

Swanny

@James H.

My rents are late if they are not paid by the 5th. The late fees are pretty steep like 10% of the rent. If they pay you before the 5th like clockwork, that is very good.

Swanny

@Dan M.

Those were 1031 exchange properties originally too.  Sorry I did not answer that question completely.  We only invested $160,000 into those 4 single family in down payments and fix up in those 4 original Condos we purchased in about 2012, nine years ago. That was are all in investment that has ballooned to that 3.5-3.7 million valuation on those 4 we have listed right now.

Does that make sense?  

Swanny

Hi @Dan M.

Maybe you are not realizing that Apartment complexes are valued differently than single family that I originally invested in.  I have forced the appreciation on these apartment complexes and need to do something with that equity.  Some of these will be 1031 exchanges and some will be straight sales and some may me refinancing into agency non recourse debt.

Watch podcast 238 to see how I started and then see where I am now.  In the next month or so I will be featured on the RE Masters Summit going out to 50,000 people and I was most recently featured on the front cover of BP’s newest Wealth magazine this past Oct issue!!

Swanny

Nope it has only been 3-4 years just liked I did with the Condos.  Time to cash in the equity by selling or refinancing or maybe lose that equity.  Same strategy.  Can’t you see?

Swanny

Hi @Remington Lyman

I am going to message you now.  I tried calling the phone number and it was somebody else’s name.  I have some questions about Columbus.

Swanny

Hi @Charles A. and all on this thread I started a long time ago on utilizing your dead equity.

At the moment I have vastly forced appreciation on all my apartment complexes and have 4 vacancies out of over 200 units and have won every eviction case and the judges are tired of the lying about Covid for these tenants and they did not follow the CDC guidelines to declare etc... 

At the moment I have 4 apartments listed at 3.7 million and only 1.3 million debt left on them and refinancing another that we only have $500,000 debt on at about 1.4-1.5 mil valuation.  The cash flow is tremendous too.   I am capitalizing to get return on my equity, which has exponentially risen since ai first posted this forum thread.

Anyone that wants help or to learn more I always love to talk shop.  Go to my profile and message me!!

Hi @Brian Garlington

It is so good to hear your voice of reason helping these unaware people.  My name is Swanny and I was on BP podcast 238.  I highly advise that podcast.  Brian reached out to me at least 4 years ago and I hope he appreciated my advice.  You may too.  Please feel free to reach out to me and message me.   That goes for anyone on BP.

Swanny

I highly recommend Podcast 238!! with Scott Trench and Brandon Turner as the hosts.

If I can do it, anyone can!!  

“Whatever the mind can conceive and believe, it will achieve!!”  Napolean Hill Think and Grow Rich.  Great book!!

Swanny

Hi all,

This is Swanny!! I have been on BP a long time and I was featured on BP Podcast 238, the 3rd most downloaded a while ago the last I checked.  I love reading all the forum post and educating people to be able to do what I have accomplished on a low parochial school teacher salary.  Feel free to reach out to me for inspiration and advice.  Honesty, Integrity and Persistence are important Virtues that I use daily with my students and my communications with people on BP since about 2015.

Happy New Year!!

Swanny