All Forum Posts by: Michael Swan

Love me some Lake County, 30-40 minutes east of Cleveland!!

I have 8 apartment complexes in Painesville and one Apartment complex in Mentor!!

Swanny (BP podcast 238 Guest)

Love Brandon Kosek at BWE (Bellweather).  He has always done right by me!! I have 10 apartment complexes out there!! Tell him Swanny referred you.  

Feel free to reach out to me to talk shop!!

 Swanny (Guest BP Podcast 238 OG appearance for sure!!)

Oh!! I forgot to say, these Freddie Loans are non-recourse.  That is another HUGE benefit as you get these Small Balance Freddie Loans!!! As you get larger, the risk is less!!  

Any one out here, don’t be afraid to reach out to me.  I love talking shop!!

If you change the way you look at things, the things you look at change right before your very eyes!! It did for me.  It can do the same for you!!!

If I can do it, anyone can.  Change your paradigm, change your life.  I have been retired from my teaching job now going on my second school year.  Just focused on managing my 9 apartment complexes, refinancing a few, selling a few and acquiring a few.  

We are only limited by the self imposed limitations.  Reality is an illusion, albeit a constant one, it is in our face at every turn.  

Make your own reality!!!!

Swanny Podcast Guest 238

I use Brian Bruening at Bellweather out there.  I have done my last 3 Freddie Small Balance Loans with him on a 20 unit, and another loan on a 24 unit and another loan on a 21 unit in the last 18 months.  These Freddie loans have been amazing for us.  First 2 or 3 yrs interest only, 30 yr Amortization fixed rate, currently at about 5.5-5.6% fixed for anywhere from 7 to 10 years term.

He also does bridge loans too.  That is a different product altogether though.  The Freddie Small Balance Loan is the best loan out there.  Although you need a $1,000,000 loan balance or more.  

I would reach out to Brian ASAP!!. All of my 9 apartment complexes are out there in the Cleveland area in suburbs called Painesville and Mentor, Ohio.  I also have a 24 unit in Akron.  

Feel free to reach out to me too!! I love talking shop!!

Swanny (guest BP podcast 238). 

Thanks again @Jay Hinrichs,

Sounds good.  Sorry for the miscommunication.  Have a great night!!

Swanny

BP Podcast 238 Guest

I am just looking for positive, proactive, advice in this market to ways I can help the broker, with my contacts too etc… to help with the sale.  Sometimes it takes a village and BP nation is one big village!!

Sorry if I was a little abrasive and condescending!!

Swanny

Thank you @Mary Jay

I am glad I could be even a small part of your success in RE.  I appreciate the kind words.

You can do it too!! If I can, you surely can too!!

Swanny

BP guest Podcast 238

Thank you @Gary L Wallman

Any advice you could give if you have currently gone down this path I am going in this rising interest rate environment would be greatly appreciated.  I already spoke to my Commercial broker regarding the helpful suggestions already given to me by Caroline on this thread.  Thank you Caroline!! 

Gary do you have any by your recent experience, besides asking me like Jay did “why the panic?”  No panic.  I just have not gone down this road before and wanted advice.  Then I got that not helpful and sarcastic reply from Jay. I did 
  not know it was not on Loopnet until it was pointed out to me on this thread either by Caroline.  Of course it should be by now.  So I reached out to the broker after her great reply to me. Do you have anything constructive and positive to add to help me Gary?

Anyone else out there that I have helped since about 2016 here on BP have something that I could also do to help promote this sale too and help the broker?

Much appreciated if you do!!

Swanny - 

BP Guest on Podcast 238

Thank you @Jay Hinrichs

I ONLY take advice from people that have traversed the road I will travel down as I said.  You have not travelled down that road enough for me to take your advice. So, thank you for your thoughts anyway.  

Have a great evening!!

Swanny

Hi @Jay Hinrichs

Good to hear from you.  I have bought a lot since 2015, selling a lot, not!!  A little uncharted territory for me.  Sorry to get your sarcadar going.  Just wanted to be sure, from other more experienced to advise me on areas I have not traveled before.  I always like to get advice from people that have travelled down the road I will be traveling on.  Can you blame me?

Swanny