All Forum Posts by: Michael Swan

Hi @Mike Abramov

Glad to help!!

Swanny

I loved the first one and look forward to seeing everyone again.  Let us know what date and time.

Swanny

Hi @Dan H.

and all on this forum thread. Since I have been brought up a few times here, make sure you listen to podcast 238 to get my real story. 

Update on me, I now have 8 apartment complexes and 122 front doors in NE Ohio. I currently have gone from $50,000 cash flow on my pricey RE condos in San Diego that I purchased in 2011 and 2012. I have traded in all my pricey rental property in San Diego. Now after a few learning experiences, I have $160,000 cash flow and rising. I would have been at $200,000 cash flow if it wasn't for a few learning mistakes I mentioned on Podcast 238. I have increased the NOI significantly on 5 of the 8 apartment complexes so far. My combination of forced appreciation Multifamily Millions style (David Lindahl), has allowed me to not only experience over 3 times the cash flow I was getting on those condos in San Diego, plus exponential appreciation. I love how these loans have 20 year Amotization schedule and we expect that these properties at the end of 5 years of ownership each have only 40-50% debt to value max at the end of the first 5 years of ownership. So, while Dan I sent true that since 2016 my San Diego condos would have appreciated more than when i 1031 exchanged with about 100% appreciation after 3 years of ownership, that $160,000 and rising cash flow, along with, the 1031 Exchange, 20 Year amortization and forcing appreciation, while dramatically reducing loan to value, I think was best for me and my family.

Watch podcast 238 and reach out to me if you want to talk on the phone.  I save time during the day to talk to BP Nation members.

I love this stuff!!

Swanny

I have done 7 1031 exchanges for apartment complexes and traded in single family in California for Apartment complexes and now have 122 front doors.  You can too!!  i told about my story on Podcast 238.  Listen to that podcast right away.  I spoke about the power of the 1031 exchange and trading in single family for apartment complexes.

Swanny

Sorry that was messages, not massages.  LOL.

Swanny

Hi@Olena M.,

Thank you for holding the meetup, great setting, and it was great to match up faces with people I have communicated with in the forums and in massages at BP.

Way to go!!

Swanny

Hi all, 

I still love teaching and have followed a similar path!!  After 7 years of investing in RE I have 8 apartment complexes for 122 front doors and counting.  If I can do this on a lowly $50,000 parochial school wage, anyone can.  They told my story on Podcast 238.  Check it out!!! Normal everyday people are 

Thank you @Chaz Mathias,

I still have $250,000-$300,000 equity stuck in my personal residence in San Diego.  My wife won't let me sell and I don't want to refi or take a home equity line of credit out.  I think $300,000 debt in this house is plenty of debt if we have another housing crash, I don't think the value will go under $300,000, which is my mortgage debt left on this money pit.  

Remember, your house (personal residence)is a liability, taking money out of your pocket every month, it is not an asset.  That's why I call it a money pit.

Swanny

Hi @Brian Ploszay,

On BP podcast 238 I told my story how I 1031 exchanged all my San Diego rental properties for apartment complexes in NE Ohio.  I only have my personal residence left here in San Diego.

Read this thread from the beginning too and it will make more sense to you.

Take care,

Swanny