It’s very important to take down your open house signs at the end of the day. Why? Just ask Kevin Hultgren, an agent for Real Estate One in Southgate, Michigan. Listen in to hear Kevin share what happened, what he learned, and what consumers can do to get the best agent for the job in this crazy market. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes:

• 01:30 - Introducing Kevin, an agent for Real Estate One in Southgate, Michigan; they are the largest broker in the state of Michigan
• 02:45 - The real estate supply and demand; it’s crazy and exciting right now, but you need a professional to get an offer accepted
• 04:10 - Kevin’s CSIRE story
  • 04:20 - They had an open house; he left the sign out afterward and it was up all week
  • 04:35 - The following Saturday, someone walked in through the seller’s front door as he was getting out of the shower; Kevin was mortified and embarrassed
• 06:50 - The lessons
  • 07:15 - The listing agent smoothed things over for him before he even knew about it
  • 07:40 - Now he has a checklist and makes sure he has all the materials he needs 
  • 09:25 - Respect the seller’s space if you’re touring their home
• 10:05 - Tips for consumers
  • 10:10 - Ask your agent what they use for a checklist and to manage details
  • 11:00 - Don’t expect perfect, expect real
  • 11:35 - Know that you are working with a human; choose a professional who knows what they are doing
• 12:45 - State programs for first time home buyers
  • 13:05 - Private and public support for first-time buyers is a great thing; he recently helped a 22-year-old client buy his first home
• 15:05 - How to reach Kevin: email kevingetsresults247@gmail.com or call (734)642-8635

3 Key Points

1. Don’t forget to take the “Open House” signs down! 
2. Respect that someone still lives there if you’re touring a house. 
3. Keep track of the details.

Flood insurance for the house on the hill? You got that right! Jeffrey Brogger, a real estate investor and marketer, shares the story of when flood insurance really saved the day. Listen in to hear Jeffrey’s top investing tips, why he believes strongly in coaching, and what he did to expand his network—and learn what book changed the game.  

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes:

• 01:30 - Introducing Jeffrey, a real estate investor in Huntington Beach, CA
• 01:45 - Jeffrey’s CSIRE story
  • 01:50 - He read Rich Dad Poor Dad in high school
  • 02:15 - He inherited property in high school; it was a ranch home with avocado groves around it
  • 03:00 - A pipe burst under the floorboards; there were 3 feet of water under the home and they had to empty the house 
  • 03:40 - Luckily, they had flood insurance; his sisters helped him redo the home from the bottom to the top
• 04:45 - The lessons
  • 04:50 - Sometimes investors forget about the maintenance and emergency costs that come with a property
  • 05:05 - The crawlspace under the house is what got flooded; it’s all developed around that house now
  • 06:22 - Any house can get flooded, it’s not just for homes near a river; insurance matters on investment properties
• 07:10 - Why they kept the property instead of selling it
  • 07:30 - He was an advocate for keeping it; they made it work and had good tenants
• 08:40 - Investment tips: Have a clear vision and never overleverage yourself
  • 09:15 - Jeff maxes out at an 80% loan-to-value for a single-family home; everyone’s numbers are different and based on a variety of factors
  • 11:25 - He’s gun shy and considers himself conservative when it comes to real estate investing
  • 11:50 - Jeff predicts that some correction is bound to happen
• 12:25 - Investing in things you understand and always pay for coaching
• 15:05 - Read and keep learning; education doesn’t stop after school
• 15:35 - The best education he has received
  • 16:05 - Local investment club meetings
  • 16:50 - Everyone is looking for the deal; the money and everything else is actually easier to find
  • 17:15 - He learned to provide value and build valuable relationships; he wasn’t looking just to take
• 18:15 - QR code technology pre-COVID
  • 19:15 - A photo with a small QR code would send people your contact card automatically or subscribe them to your FB business page for follow-ups
  • 19:40 - People loved the technology and are still using it today
• 20:20 - What’s next for Jeff
  • 20:25 - He’s getting his real estate license
• 22:00 - How to reach Jeff: LinkedIn

3 Key Points

1. Read Rich Dad Poor Dad by Robert Kiyosaki and make your kids read it!
2. A correction is coming, so get ready.
3. Invest in things you understand and get coached by an expert!

What do you do when a tornado’s on the horizon? You crack open a cold one and watch it, of course! Jefferson Lilly, the founder and managing partner of Park Avenue Partners and host of the Mobile Home Park Investor’s podcast, shares his mobile home park manager’s surprising tornado response. Listen in to hear how Jefferson got into mobile home park investing, why he runs all his purchases by his advisory board first, and a lesson he learned about government operations - and learn why he believes he’s in the best niche in real estate. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes:

• 01:30 - Introducing Jefferson
• 03:50 - Jefferson’s story: He got into the business 13 years ago and looked into mobile home parks
  • 04:50 - He believes it is the best niche; every city and county outlawed new construction of mobile home parks, which affects the supply curve
  • 05:15 - The supply curve is shrinking 1% a year and demand is increasing 1%; almost all tenants own their own homes, so it’s only the land that they have to worry about
  • 06:15 - The economics make sense; he bought 33 mobile home parks and has 5 others under contract
• 06:35 - The biggest challenge and his evaluation model
  • 07:10 - He is independent thinker; once he was at a cocktail party fundraiser and a woman scoffed and walked away when he told her what he does
  • 09:25 - He put together an advisory board of people who own trailer parks; he runs deals past them before he buys
• 10:20 - How he got his group of advisors
  • 10:30 - He put himself out there and told people what he did; he started getting linked up with other people
  • 10:54 - He found people online, too
• 11:05 - His most impactful lesson 
  • 11:15 - You can’t trust the government; his first park had a sewage lagoon, the local government said it was built to code but it wasn’t 
  • 12:45 - He paid about $500,000 to bring lagoons back up to code; now he doesn’t buy properties on private utilities
• 14:00 - They focus on buying mobile home parks; they rent-to-own some trailers; they don’t want to have a boneyard of parts and don’t have the bandwidth
• 15:20 - He’s a principle, not an agent; his podcast is called the Mobile Home Park Investor’s podcast
• 15:35 - Jefferson’s CSIRE story
  • 15:40 - He has a park in Tornado Alley in Oaklahoma; he asked his manager there what they do when a tornado comes
  • 16:17 - He said, “We watch them” and explained when they aren’t a concern
  • 17:00 - A couple of weeks later, he got an email with the subject line “Park Destruction” and he thought they had gotten hit
  • 17:20 - It was to fix a broken lock to a well house that kids had broken for $30
• 18:30 - On tech and the mobile home industry
  • 18:40 - They don’t take cash and applications are done online; they’re trying to be automated
  • 19:00 - They use Rent Manager software, work with on-site managers for on-the-ground work, use box.com, and have regional managers, too
  • 20:40 - His role is to raise capital and find deals
• 21:00 - A tidbit for the audience
  • 21:05 - Get an unofficial advisory board; learn from the experience of others who have been there, done that
• 22:05 - Get in touch with Jefferson at Park Avenue Partners 

3 Key Points

1. Be wary of judgy people. 
2. Get an advisory board.
3. Focus on what you are best at and outsource/automate the rest.

Landlords have hearts, too. Dave Holman, an investor and author, tells the story of when he checked in on an elderly tenant who was set on never moving to make sure he was alright. Listen in to hear what happened, why he got into real estate in the first place, and why real estate is really a service profession - and hear about Dave’s books on coffee, cyberwar, and climate change. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

• 00:20 - Introducing Dave Homan, an entrepreneur and investor
  
• 05:30 - Building management is just as, if not more important than the price you bought it for
  • 05:43 - Learn about tax abatement; great management is about being surrounded by professionals who know what they’re doing
• 06:40 - What he invests in
  • 07:05 - He has helped his family in Bolivia buy property there; Dave’s investments are in Maine and he can see the improvements in real life
• 08:50 - Dave’s CSIRE story
  • 09:15 - They have an older tenant in a building they own; he didn’t want to move and didn’t have family
    
  • 10:00 - A neighbor called and said he had fallen; they called the sheriff to get them out for a health check
    
  • 10:55 - He arrived as the sheriff was leaving; the sheriff said the man wasn’t there and it turns out he was in the hospital but still didn’t want to move
    
  • 11:45 - Landlords aren’t evil people; they care about people and want to make money, too
• 14:10 - Why he got into real estate
  • 14:25 - He realized he could help other people and teach others how to invest, too; real estate is a service profession
• 13:55 - Dave’s books Coffee Smuggler and Cyber Fire
  
• 20:05 - How to get in touch with Dave: (207) 517-5700 or go to his website at www.holmanhomes.com or email dave@holmanhomes.com

3 Key Points

1. You make money when you manage. 
2. Look at the property for cash flow and humanity.
3. Real estate is a service profession.

Curious about what it takes to have an ACU - Accessory Dwelling Unit - right in your own backyard? Paul Dashevsky, partner and co-founder of GreatBuildz.com, works with clients who want to build an ACU for all kinds of reasons, from office space to rental unit. Listen in to hear how people are increasing their income (and their property value!) with ACUs and learn why it’s so important to make sure you work with the best, pre-screened, and pre-vetted contractors to reduce unexpected costs and unnecessary headaches. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes:

• 00:20 - Introducing Paul Dashevsky and today’s topic: ADUs (Accessory Dwelling Units)
  • 00:55 - We have an inventory crisis and a lack of affordable housing; ADUs are a solution
• 01:10 - Paul is partner and co-founder of GreatBuildz.com; where they match homeowners with the best, pre-screened, pre-vetted contractors
  • 02:15 - 50%+ of the calls they get are for ADUs
  • 02:55 - Even Kanye West has trouble getting a contractor to get things done 
• 03:30 - On ADUs
  • 03:45 - They work primarily in California where the laws on ADUs have really changed
  • 03:53 - ADUs are a small home/unit in your backyard; in CA it can be up to 1,200 square feet
  • 04:50 - It can be used as a living space for aging parents, a home for older children, detached office space, for rental income, or to live in to rent out the main house
• 06:45 - Zoning and regulation
  • 07:05 - It’s specific to town, county, city, state; go the the city planning department or talk to a local architect and find out the rules
• 08:45 - The biggest benefit of having ADU; income, increased property value
• 09:50 - The biggest issue; people not wanting to be in a dense environment, privacy
• 11:05 - ADU costs: It’s more expensive in CA and costs more to build small than big
  • 12:10 - You still need all the appliances
• 12:35 - People’s biggest fear: the expense, the 6-month process, the “nightmare remodel”; you have to make sure you have a good contractor
• 13:30 - Why clients go to GreatBuildz.com; they want factory-built ADUs down to custom built ones but it’s important to consider all the costs both ways
  • 14:35 - Sometimes the pre-fabricated quoted price doesn’t include craning, site work, running utilities, etc; make sure to double check
• 15:20 - On neighborhood issues
  • 15:35 - Laws passed in CA in 2020 that HOAs and CCNRs couldn’t restrict building ADUs
• 17:35 - Paul’s CSIRE story
  • 18:05 - When he was flipping homes, they bought REOs and short-sales; a couple times they’d walk into a house and the family pet would be left behind
  • 19:15 - One October, a contractor tore off the roof of a house and canceled the next day when he was supposed to put the new one back on
  • 19:40 - That weekend, it rains on his house that doesn’t have a roof; thousands of dollars and headaches later, they’re 99% done
  • 20:19 - Then the water heater leaks and they have to do it all over again; that’s his “house with two floods” story
• 20:50 - How to reach Paul: email paul@greatbuildz.com, visit www.GreatBuildz.com, and check out the blog there for resources and education

3 Key Points

1. ADUs bring new inventory to the market. 
2. ADUs can increase income and property value.
3. Professionals are responsible and transparent.