All Forum Posts by: Michael Swan

Never thought I would say this.  However,  the apartment complexes I own that have 50% or greater section 8 tenants are my best performing complexes.  One 24 unit in Akron is getting me $5,000-$6,000 cash flow on a $180,000 investment that I 1031 exchanged for in Sept of 2017. 

Sometimes, if you change the way you look at things, the things you look at changes right before your eyes.

Swanny

Swanny says there will be some great deals a year from now or early in 2022.

“Whatever the mind can conceive and believe it will achieve!!!“ Napolean Hill

Swanny

Swanny says go for it when you can cash flow at least $400.00 a door.  That’s with putting 25% down.

3 rules:

1.  It can’t lose money!!

2. It must cash flow!!

3. It must cash flow!!!!!!

Swanny says do what floats your boat!! I have always believed the teacher will appear when the student is ready.  
I was ready when I had 10 single family, ten roofs, ten mortgages etc... Sooner or later the teacher will appear and a better way (Multifamily, Non-recourse scalability) the teacher will appear.  Since Podcast 238 I have educated people the same way, David Lindahl, Del Walmsley, Michael Blank etc... educated me to scale and eventually get to 1,000-2,000 units which is my new goal.  Currently a principal owner of 230 units in NE Ohio and Indiana.

If you change the way you look at things, the things you look at change right before your eyes!!!!

Swanny

So far, 57 unit for $2,000,000 Purchased Aug 2019.  After we get to the other side of Covid, we will make this 57 unit valued at 3.5 million. 

Looking for bigger and better value plays in 2021 and 2022.

Onward and upward!!

Swanny

Thank you @Account Closed,

Feel free to reach out to me anytime.  I love talking RE and helping people.  Recently I was sent by somebody on BP that podcast 238 that they had me on is still the 3rd most downloaded ever!!

Swanny

Hi all,

This is Swanny.  I was on Podcast 238 and talked about this topic a bit. I have found the best way to talk to brokers, when I was starting out was by finding a commonality in interests.  Talk to them about what you like to do and they tell me about what they like to do.  

You could also stalk them on Facebook, linked in etc... and find out more about their interests too.  

The third way is to show them the money, how many units you are a principal in or a GP in, running deals etc... Show them a strong Personal Financial Statement of you or the actual Sponsor that can get a large loan like this, that has purchased and operated a big deal like the ones this new broker friend will bring you.

Feel free to reach out to me and talk more.  I love to help people.  Listen to Podcast 238 where I was a guest of Brandon and Scott Trench.  Also, I was included in Ch1 pgs 25-26 of Brandon and Josh’s book called, How to Invest in Real Estate the Ultimate Beginners guide. 

That goes for anyone else out there that wants to pick my brain.  I love this stuff!!  My goal is to go from 230 units to approximately 1000 in the next few years!!

Swanny

Exactly!! A rabbit hole as I said.  Be careful and make sure you beware of wolves in sheep’s clothing.  Been there and done that and lost $350,000 on my first 2 Multifamily deals and am expanding to 1000 units after this Covid 19 is in our rear view mirror.

Swanny

Be careful out there.  Currently, I have over 230 units in 10 different Apartment complexes.  I have studied, researched, and learned from some of the best out there.  You may want to reach out to me soon, before you go down that rabbit hole Kal.  I was on BP Podcast 238 and am on my way to 1000 units in the near future.  There have been lots of changes in the lending requirements too with Covid 19.  You may want to watch Podcast 238 and then reach out to me.

Swanny

Ike please contact me right away!!  You need to talk to me!!!

Swanny