Episode 8 is all about the process from starting out to eventually scaling your way up to multiple units. Mike Goldberg is our guest today. Mike is a client of Troy’s who was able to buy 1 condo in California many years ago with $0 down and eventually scale that single condo into a 24 unit apartment complex- all with $0 money out of pocket. Mike has been able to reinvest his principal + profits from each owned rental he has sold and created an impressive amount of passive income all while working a 9-5 job. This episode is for everyone out there who doesn’t know where to start and should serve as proof that just going for it and being discipline can and will create massive results.
Episode 7 is very exciting! We’ve talked about many aspects of investing, but we’ve yet to talk to some of the service providers that make your day to day operations easier. Today, we speak to Ashley Price of Spring Street Properties about property management. Ashley is a property manager in charge and owner of a property management company. She’s quickly grown her business from managing a few doors to well over 100 and she continues to grow. Ashley has a ton of insight about management- including deal analysis, holding costs, tenant screening, etc. In addition to being a PM, she is also an investor herself and brings a ton of knowledge to the table. As an aside, I have many colleagues and clients who use Ashley’s services and they have all been thrilled with her!
This episode is a little different. We don’t have a guest this time. Dan is planning a wedding and Troy was out of town for a wedding, so we’re going solo. We actually plan to do this from time to time. We have an incredible pool of guests to choose from , but small business owners are busy, so there will be schedule conflicts from time to time. We also don’t want to schedule too many guests sequentially that do similar stuff in our industry. So, in this episode, Troy and Dan discuss a 5 unit portfolio of single family homes they’re in the process of purchasing. They current surpass the 1% rule and have a lot of room to improve. This is the type of deal that’s not too terribly hard to find right now (as opposed to small apartments) and there are a lot of financing options for properties like this. All 5 units have been occupied, but require a little tweaking. Fortunately, we were able to leverage the seller to improve the performance of these properties before we even take possession. I think most of our intermediate investors will get a few nuggets from this one!