On today's episode of the InvestFourMore Real Estate Podcast, I speak with Steve White and Eric Worral of RentPrep. Steve started RentPrep to help large property management companies screen their tenants after working in the debt collection business trying to get bad tenants to pay their bills. I talk with both Eric and Steve about how they screen tenants, how they help landlords find great tenants, what it is like to try to collect debts from tenants, and things landlords need to watch out for when renting their properties. There is a ton of great information on this podcast, and I learned a lot, as I am sure many of you will as well.
I made a plan to purchase 100 rental properties back in 2013. When I made that plan I thought I could keep buying great residential rentals in Colorado. I had no idea prices would almost tipple, while rents went up only 50 percent. Because of the market I have had to change the way I invest. I bought my last residential rental in 2015, and have been focused on flipping instead. I like to make goals every year and for 2017 I did not have plan for buying rental property, although I did want to find a new market to invest in and invest in a 50,000 square foot or larger building. I have bought four smaller commercial properties this year, which was better than I could have hoped for. At one point this year I had a 280,000 square foot building under contract, and I have a 70,000 square foot commercial property under contract now. To hear all about my commercial investments, how my strategy has changed, and what I plan to do in the future make sure to listen to this episode of the InvestFourMore Real Estate Podcast.
Over the years, I have had a number of great house flips, but I have had some bad ones as well. I have made some big mistakes, and I have also had some uncontrollable issues come up that cost me a lot of money. While I never like to lose money on flips, I always learn something that can help my business in the future. On this episode of the InvestFourMore Real Estate Podcast, I talk about my worst flipping experiences, what I learned from them, and how they helped my business.
Dr Matt Motil has had a lot of reasons to be mad at life. He went through the housing crash in Arizona losing his life savings, he battled cancer at 30, and got a divorce in part to health problems with his son. Despite many setbacks Matt did not give up, he kept investing in real estate until he was able to build enough passive income to quit his career. On this episode of the InvestFourMore Real Estate Podcast Matt and I talk all about what he has been through and how he found success with rental properties.
Vinney Chopra came to the United States to get his MBA to further his engineering career. While he was here, he found his dream job and then discovered real estate. Over the last decade, Vinney has purchased 26 apartment complexes worth over $200 million. He did not buy these properties on his own but instead used syndications to buy them with other investors' money. I have interviewed a number of apartment syndicators, but one thing I liked about Vinney is he has bought 12 apartments in the last two years, showing you can still make money in a hot market. You can hear how Vinney made it to the United States, found success, and get his tips all on this weeks episode of The InvestFourMore Real Estate Podcast.