All Forum Posts by: Brandon Schwab

Hi @Brent Beard

I feel you, the struggle is real. An idea you might want to consider is helping them get setup with Square or similar easy to use credit card processors. It would help a non-tech savvy business owner and also score you some points for helping them which hopefully would earn you some loyalty. If you can provide them with a basic framework of systems to use they’ll be much appreciated. Last time I checked Square was free to setup and pretty easy to use (admittedly it’s been a couple of years). Apps like Venmo are another option to consider. They allow payments to $2,500 I believe on personal accounts and slightly higher for business. Hope this helps and good luck! 

@Justin Goodin

I’ve run a meetup group playing Cash Flow Board Game and found it was successful by giving a TON of value without asking anything in return. Help others and they’ll tell others. A guy in Indi you should connect with is Kevin Hudaba 630-677-5559. He runs a Facebook group for Multi’s with over 31K members. I tried to tag him on here but couldn’t find him. Maybe you and him could meet up and swap ideas. I know he’s a sharp guy breaking into the multi-space, currently a RE agent as well. 

HI @Matthew Edge

Congratulations on building your portfolio to 7 homes and your success! I've found best way to meet wholesalers traditionally has been your local real estate investment clubs, you can feel out if they are an experienced wholesaler or not (talk to others who have done business with them). If your local REIA's aren't meeting in person yet than check online on sites such as Meetup which are doing both virtual and in person. I've attended a Cash Flow Board Game before and meet some great people that are in the game and found a few wholesalers that way. Checking online Facebook groups is another way that was mentioned in another comment. Also if you jump over to commercial asset class you might want to look for someone in your area who's already doing them and JV with them. Might be a good way to "get your feet wet". You can also meet this small multi-guys at the events. Another idea or suggestion is pull a list of those 3-6 units and start mailing them. Find a older guy looking to retire and exit the game who's a tired landlord and often times you can get a good deal (sometimes even owner financing). This target market is not always called on a lot and could get you a small portfolio of them "turn key" basically. Happy hunting, sorry so long.

Hi @Mike Bend, welcome to the BP community! You’ll learn a lot here. I’m from the Chicago NW burbs as well, we’ll have to connect offline and grab a coffee sometime. My thoughts on your post is if you owe $169K and sell it for $230K. After you expenses for closing you are only netting $45K (assuming a 6% realtor) at best. Ask yourself what can you do with $45K to trade up or level up. Keep in mind the hot market will work against you when you are trying to buying your next asset. Also right now it’s extremely hard to buy at a discount unless property needs a lot of work. Are you connected with any local wholesalers? Might want to feel out what you could trade up to first? 

Side question, how long have you had the current mortgage in place (since last refi)? Sometimes that factor should be considered in keep it or sell it. For example if you’ve had for 12-13 years and paid down a lot of the interest of a 30 years mortgage in the first 15, the back 15 of the 30 year you pay down principal a lot faster. 

Either way, hope this helps and good luck! 

@Cameron Dierking I've done the exact same thing as you to get started working in real estate investing. I started doing property preservation initially after the 2008 crash helping investors "turn" REO properties into flip properties. I cut my teeth by doing the "service" work meeting the right people and learning the business indirectly. Once I made enough "active" income then I started investing it into assets passively using the same skills and network I developed through Property Preservation. Word of advice, learn as much as you can from others who have done what you want to do. It is much more cost effective to learn from them than to do it all yourself. I personally started wholesaling houses initially to follow up my Property Preservation days to make more active income but the trick was that I had to keep working (thats the trap of active income is you have to keep going and doing it). I did that for a few years learning how to buy properties or at least flip paper in the wholesaling world. I also then learned how to do disposition and ran 12 billboards to sell properties rent to own which had both an upfront payment and monthly cash flow. Couple years later I sold all my 23 rentals and got into doing boutique senior living which now I own 5 homes 70 beds that average $5K each per month.

Keep going, work hard and listen more than you talk... ask the right questions and you’ll be successful. Only listen to those who have done what you want to do and can do it joyfully. Nothing admirable about working 80 hours per week and being on your 3-4th wife. 

Yes, I am looking for large ranches 5,000 sq ft in Chicago & Minneapolis affluent suburbs. I do boutique senior living so it must be one level with 5 beds and 3.5 baths plus... hard to find but price doesn’t matter, will offer either owner carry back at full asking price or an aggressive cash offer. Message me for more details on our platform we use for uploading leads. 

@Hunter Heimer I’m not currently living in MN, however I am under contract for purchasing portfolio of 7 properties there by August 1st in the Minneapolis/St Paul area. I’m impressed with the number of corporations and high paying jobs they produce and the hot markets. Anyone specializing in MN buying or selling, please keep me in mind for any large ranches over 5,000 sq ft. I do boutique senior living and looking to expand our existing footprint there. Please keep me in mind. Good luck Hunter! 

Hi @Paul Balyoz Florida is top of the list or close to it with ingrowth, their market is rapidly growing and benefiting from all the exiting of states like Illinois and California. Plenty of condo’s in FL with high Air BnB potential as well, especially if you find condo’s close to attraction parks or the beach. My in laws live in Clermont, FL which is beautiful as it’s hilly (most FL is flat as a pancake). Coming from the Midwest, I’m am used to basements and in Clermont they have basements in their single family homes. Hope it helps somewhat. Happy Condo hunting Paul! -Brandon Schwab 

Hi Melanie,

I’d be happy to share the many lesson’s I’ve learned investing in real estate, specifically boutique Senior living homes (10-20 bed assisted livings) over the last 10 years. It’s an interesting topic for most who hear about it as they either are facing challenges with their parents health or hear of friends dealing with it. Especially now with the pandemic, the future of senior living is small cozy homes rather the big cold institutional facilities (we call them the F-word in our office). Happy to help if the content would be valuable. My operating company is called Shepherd Premier Senior Living and we currently have 5 locations with 70 beds. 

Thank you Davido! It sure is grand, appreciate your kind words. Two fireplaces will be thoroughly enjoyed for many years. Once COVID passes, even a indoor pool. Great for grandkids to come and spend time with grandma/grandpa.