REITD 015: Kelly Brittingham – COO, Property Manager, & Full Time Mom

REI Talk DetroitIn this episode I talk to Kelly Brittingham.

Kelly started her real estate investing business with her Husband Todd in 2009 with their first investment in a single family rental property. Since then she has completed over 40 real estate transactions.

Her investments have included single family rentals, lease options, wholesales, fix & flips, turnkey rental properties and most recently they have focused their business on building new homes.

In the midst of all of this Kelly is a mom to two great kids – Alivia who is 8 years old and Jaxson who will soon turn 3.

Before Kelly was a real estate investor she was a working mom, but she found that her job took significant time away from her kids. Now as a real estate mom, Kelly is able to stay home with her kids focusing on their needs while helping run their well-established real estate business.

Crowdfunding News

As I mentioned in a prior REI News segment, for the last couple of months I’ve been working on a project involving Crowdfunding.

If you’re not familiar with it, Crowdfunding is where you openly solicit investors you don’t know to invest in your business. If you’d looked into this before you know that this used to be highly illegal, and there are several people that you would probably know by name in jail right now for running afoul of the SEC rules regarding general solicitation.

But that has changed. A couple of years ago Congress passed a law allowing general solicitation, or Crowdfunding. But as the federal government is prone to do, the implementation of the law has made it about as difficult and expensive as it was before.

Michigan, however, recently passed its own law on Crowdfunding within the state. It’s much simpler to do. It’s less regulated. And it’s FAR less expensive to implement than the federal law.

So I’ve teamed up with a local securities attorney to put together an educational program on how to implement Crowdfunding in your business.

It will be held on Saturday, September 27 at 9am in Southfield.

If you’ve been looking for a way to take your business to the next level with additional funding, then I highly recommend you attend the seminar. By the time you leave you’ll have all the knowledge you need to get started with your own Crowdfunding campaign.

You can find the details at CrowdfundingEducation.com.

Landlord Friendly Financing? Seriously?

dennisfassett.comThis is pretty amazing.

I was looking around for some new ideas on how to finance additional rental properties, and I happened to find something that was pretty surprising…..

…… that a monster-sized hedge fund – BLACKSTONE no less – has started offering financing specifically focused on rental property owners.

Yeah. To say I was shocked was an understatement.

I mean, Blackstone has been the bad guy as they hoovered up all the good deals in many areas over the last several years.

But that has apparently changed.

I have never been very fond of conventional lenders. They don’t like rental properties, and back before and during the crash they kept making it more and more difficult to get their approval.

In fact, the process to get my 10th conforming mortgage took SIX MONTHS to accomplish. Partially due to the broker’s incompetence, but most of it was due to the lender changing he rules of the game as the game was being played.

So the fact that an organization is now landlord friendly is a great thing.

I’ve included the text from the press release below, and there’s a link to their lending site as well if you’d like to get more information.

Let me know how it goes if you decide to reach out to them.

Here’s the press release from Blackstone….

Rational Thought from the Fed?

dennisfassett.comShocking I know. That hasn’t happened since Paul Volcker.

But it’s about time.

I just saw a piece in the New York Times titled “Fed Dissenters Increasingly Vocal About Inflation Fears”.

I was both happy and frightened to see that headline. Happy because the Fed needs to face up to the fact that interest rates can’t stay at zero forever, and frightened by what’s going to happen to the economy when (if) interest rates ever get back to anything resembling a market rate.

And then there’s inflation.

I’m an econ major. I’ve been following this stuff since 2006 and 2007. I’m confounded but the fact that we haven’t seen any inflation yet. It’s out there. But if or when it will ever hit is anyone’s guess.

The first paragraph of the piece is what gives me a glimmer of hope:

“An increasingly vocal minority of Federal Reserve officials want the central bank to retreat more quickly from its stimulus campaign, arguing that the bank has largely exhausted its ability to improve economic conditions.”

I’ve included the piece below without further comment. Let me know what you think.

REITD 014: Dave Sullivan – Regular Guy Buy-and-Hold Investor and DIYer

REI Talk DetroitIn this episode I talk to my good friend Dave Sullivan.

Dave is a classic buy-and-hold investor. He characterizes it as “regular guy” investing.

My business is pretty similar to his – and so I agree with his characterization. It’s not sexy – there are no frills. But the cash flow keeps rolling in month after month after month after month.

Dave graduated from Western Michigan University in 1989 with a bachelor’s degree in Finance. He started in the mortgage industry as a loan officer in 1991. Less than one year later started selling credit reports to Mortgage Companies, Banks and Credit Unions.

On September 19, 1997 he started AIR Credit Midwest out of his car.

Over the next two years Air Credit Midwest grew to a multi-million dollar company. In 2000 he was approached by one of the largest Credit Reporting Bureau’s in the nation to purchase AIR Credit Midwest. He sold it and worked for that company as Sales Manager of the Michigan and Ohio market for the next ten years.

During his career in the credit industry he has personally reviewed thousands of credit reports and credit scores.

He started investing in real estate in 2008.

Crowdfunding News

As I mentioned in a prior REI News segment, for the last couple of months I’ve been working on a project involving Crowdfunding.

Another Zillow Fail – Being a Landlord Is Most Profitable in These 10 Areas

DennisFassett.comThis is nutso. Plain crazy nutso. Call it Zillow in Wonderland instead of Alice in Wonderland.

Zillow – who you know has a sterling reputation for accuracy <cough cough> has struck again.

In this installment of Zillow-Does-Real Estate, they give their opinion as to what the best rental markets in the country are. (I’ve included the entire article below in case you’re curious.)

I call bullsh*t on their “analysis”. Because there isn’t any analysis. And because they demonstrated in black and white in the article that they are completely clueless when it comes to single family rentals.

Yet they feel qualified to determine the best markets.

Pretty funny actually.

The first issue with the piece is that for the #1 Market, Oklahoma City, they give it their #1 ranking because, and I quote “at $650 per month, it rents for about $250 a month more than a mortgage payment”.

That statement is a typical rookie mistake.