Ep #72: Expert Advice from Multifamily Owner & Property Manager - Mike Sherwood

This week we're going to speaking with multifamily investment and property management expert, Mike Sherwood. Mike began his real estate investing career in 2007 like many of us do, which was by purchasing a small multifamily property to get his feet wet.  He bought this investment with the intention of living in one side and renting out the other which proved to be a very profitable approach for his first deal. This initial exposure to the world of real estate investing was all Mike needed to know confirm that he had found his calling as a real estate investor

 Fast forward a few years and Mike quickly jumped with both feet into the business by starting a full service property management company, fixing and flipping properties, running a local real estate investment club, as well as building his own multifamily real estate portfolio. And get this, this was all while working a full-time job.

Here’s a few things you’ll learn in our interview with Mike today:

• How he built his multifamily portfolio and property management company while working full-time
• The challenges with financing 5+ unit multifamily deals and why starting with a 4 unit or smaller might be easier for the first-time investor
• How he found his first money partner  and how this relationship has spawned into a long term business partnership
• The importance of building relationships with local banks and financing institutions
• How he's finding most deals on the MLS
• How he's dealing with a highly competitive marketplace
• What he likes about Buffalo and why he says that it's a great place for investors who like cash flow
• How forming a property management company has helped fund their real estate activities and also provides them access to off market deals
• What the overall infrastructure of his property management company looks like and how he uses technology to help hold it all together
• How he’s been able to grow his business remotely from 700 miles away
• What he would change about his real estate business if he could go back and start all over again.
• And much more

 

Recommended Resources:

• Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
• Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
• Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
• Learn more about Mike and his company, please visit www.CandMRental.com