All Forum Posts by: Tony Stephan

Most of the larger landlords I have ran into over the years get to this point and it makes total sense Its your business run it as you see fit.

after the GFC I built 300 SFR portfolio and we did a hybrid but we self managed basically the only way to do it.

I ended up selling out and was very happy to do that.. As running rentals is not really my calling.

But the other thing we were about to do was to self insure for fire and just keep liability. when we looked at what we were paying for fire and our loss's which a the time were zero.. I figured we would need 2 total wipe outs a year to break even on fire insurance. I know with traditional lending you cant do that but we did not have that kind of set up.

Anyway congrats I started my OOS HML lending career in Detroit in 2002 and have fond memories of the time I spent there and the 150 or so loans I did there.. we got into the deals and refinanced out by 2005 as the market had started to back slide then.. It was pretty wild in those days Wayne county recorder was 4 months behind and the title insurance was something I had never seen before.

@Tony StephanIt's truly gratifying to hear of your success here, particularly given that numerous operators we know have endeavored to achieve a similar feat but to no avail.

Curious to know if this was 131 single family homes, several multifamily properties or one big complex? I'm sure you can agree the property management style differs depending on the answer!

Capital is absolutely tied to operations so you are completely right there. Great job guys!

I self manage and absolutely agree. No one will be as efficient as an owner. It also doesn't take that much time.

@Tony Stephan we'd be interested in knowing who you fired and why, but please PM us as we don't want to make this a negative post:)

Congrats. Looking forward to the video!

Did you rent an office and hire full time staff?

Sounds like a good idea with that many houses.

Hey Jonathan,

Welcome to the BP community!

Congrats on starting your real estate investing journey. Have you considered investing in Michigan? we still have several areas that exceed the 1% rule. I personally own properties in Metro Detroit, Kalamazoo, and Grand Rapids.  As an out of state investor having your "Core 4" (Realtor, Property Manager, Contractor, Lender) is a very important part of your success. I work with several out of state investors helping them to build their local team in the area. If you ever want to chat about the market in Michigan feel free to reach out.

Who else is Invisting in single family homes in Detroit Michigan for section 8 ?? Let’s connect !!