All Forum Posts by: Mike Figueroa

About 2012-2013 I was in your same shoes. I was accumulating Condos and not town houses in San Diego.  I chose to dabble in buying 8 front doors in Euclid Ohio in 2014 with cash flow I was getting from the condos.  Then I started to contact brokers that bought and sold Apartments complexes and proceeded to 1031 exchange all my Condos for Apartment complexes and told my story on BP Podcast 238 in 2017.  Fast forward to today and I am financially free with in Painesville, Ohio a 27 unit, 24 unit, 21 unit, 20 unit 15 unit, 12 unit, 8 unit, and 6 unit.  In Mentor a bit nicer neighborhood I have a 57 unit and right next door to that in Willoughby another 9 unit we purchased that one 4 months ago.  Last, we have one outlier out of Lake County Ohio in Akron a 24 unit.  We follow David Lindahl’s Multifamily Millions book written in 2008.  That is our Bible or road plans for repositioning value plays in good hard working blue Collar areas of Ohio.  

Look up BP Podcast 238 to see how I did it!! Brandon Turner and Scott Trench were gracious hosts when I was a guest!! 
2021 hit and that is when I became financially free and was able to retire from teaching at 55 yrs old. In 2022 I also sold my money pot personal residences for $961,000 and purchased it for $154,000 in 1999. $500,000 was tax free due to being married.  

America!! What a country!!

Swanny (Michael Swan)

OG Guest BP Podcast 238

Hi Mike! First off, congrats on building such a solid portfolio! Maybe you can also consider partnering with other investors. You've got the experience and track record. Maybe team up with someone who has capital but lacks your expertise? You could structure it where they provide most of the down payment while you handle the management side. Just throwing ideas out there. But personally, sometimes the best strategy is protecting what you've built rather than pushing for more. Happy to connect and answer any other questions you may have.

 What are you looking to achieve, to change, etc. In your investments?

 For now I would keep what you got unless a killer deal comes along. Right now its slim pickings in real estate for properties that will cash flow or see any significant appreciation. of course they are always out there but a lot harder to find.

The other question is why do you want to continue to grow? Sometimes the more you grow the bigger the headaches become and this is where you also need to look at everything else you have going on (young, old, kids, no kids etc). Owning real estate can be a full time job at times. Just make sure if thats what you want you undersatnd that.