EP127 A Full-Time Flipper who's End Game is Buy & Hold Multi-Family with Calvin Beeke
Calvin Beeke left college to become a full-time entrepreneur, found success with a business he created, and then decided to become a full-time real estate investor.
Within a short span of time, Calvin has dived right in. He likes to have three flips going in any given period: one that he's just purchased, one that is being rehabbed, and one that is being sold. At the same time, Calvin is building his Buy & Hold portfolio of value-add investments with a focus on mid-sized Multi-family. He owns 17 units on his own, and over 50 units with his investment partners, ranging from a duplex up to a 24 unit Multi-family.
Today Calvin and I discuss how he gets his leads and finds his deals, how he's increased his Net Operating Income by increasing rents and lowering expenses, and the value of purchasing your own laundry machines.
Calvin also takes us through the numbers on a 12-unit he purchased in Lowell Michigan and the mystery of his extraordinarily high water bill. We also discuss the pro's and con's of Freddie Mac and Fannie Mae loans and the different terms to pay attention to.
Calvin has built a profitable portfolio quickly, and I know you're going to enjoy learning how he did it. Enjoy the episode and please take a moment to give us a review & rating on itunes.