All Forum Posts by: Michael Swan

Hi @Orie,

You have a down payment and rehab.  So, if you are sure that you can get at least $2,500-$2,800.00 rent and you also have about $15,000-$20,000 sitting in reserves for when Murphy’s law rears its ugly head, it could be a good investment.  Feel free to reach out to me to discuss.  Been there and done that on my way to my current 230 plus units.

Swanny

@Ernest Partin

Feel free to reach out to me!! That goes for all on BP!!

Swanny

Hi @Richard Ball

I have over 230 units and growing.  We are moving into the Michigan area soon too as another market.  At the moment we are focused on NE Ohio, Wisconsin, St. Louis, and Michigan area for further Multifamily apartment complexes.

Feel free to reach out to me.  I was on Podcast 238.

Swanny

Hi Josh,

This is Swanny.  I have a 24 unit in Akron and over 150 units total in Painesville, Mentor and Euclid!!

I love this stuff!!  Feel free to reach out to me!!

Swanny

Hi all,

This is Swanny. I was featured on Podcast 238 and on the front cover of the wealth magazine and Ch 1 of the book written by Josh and Brandon called a beginner’s guide to investing in RE.  Feel free to pick my brain too!! I was quite a bit behind in my retirement too.  If I can do it, you all can too.

Happy New Year,

Swanny

Hi all,

This is Swanny.  I have over 200 units is Euclid, Mentor, Painesville, and Akron.  Feel free to pick my brain!! 

Swanny

Hi @Max Bradshaw

For true Multifamily you need a lot more than $70,000.  I would suggest reading Multifamily Millions by David Lindahl.  That was instrumental for me as I transitioned from single family residential loan type products to 5 units or greater in one complex Commercial loan products.  Feel free to message me.  I love this stuff!!  I transitioned from 10 single family to where ai am now over 230 units.  It was a process and we are progressing to 1000 units into the next 12 months or so.

Lots of fake news out there.  Be careful!!

Swanny

That’s great Hayden!! pm me soon!!  That goes for anybody out there.  I love to give you a straight shooter answer to your questions!!

Swanny

Hi @Quentin McNew

To me it is like having one stock, pretty risky.  He talked about maybe getting a duplex.  I usually say $15,000 in reserves for one single family for safety. I have had a roof blow off, major sewer line collapse, tenants die of old age or in the hospital or found dead in the units upon well checks etc...  It is par for the course.  Murphy will rear his ugly head, sooner or later. My conservative reserves has really saved me time and time again!!

Again, you can NEVER have too much in reserves.  ONLY too little in reserves.

Also Quentin, I am originally from Glen Ellyn.  I graduated elementary school at Benjamin Franklin and went to Hadley Jr. High and then moved out to San Diego in 1978.  I lived on Duane St. until 1st Grade and then moved to Hillside until 8th grade.

Small world huh? 
 

Swanny

You need about $15,000 for your personal reserves, in case something bad happens or you lose your job and then $20,000 for your house hack project.  One rental property is pretty risky.  You don’t have economies of scale and we are still in a pandemic and the tenant has a lot of power etc... until we lift the eviction moratorium too!!

Swanny