THE REAL ESTATE TAKEOFF
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Is it possible to become a Real Estate Millionaire off of a teacher’s salary? Today’s guest, Michael Swan “Swanny”, has an incredible story on how he went from P.E. Teacher to retired and living off the cash flow his real estate produces. Swanny did what most people consider to be “too risky” and cashed out his retirement accounts back in 2011 to buy in a market climate when others said the market “would never come back”. Swanny purchased multiple condos one by one back in 2011, and by 2014 he started “trading up” via the 1031 exchange into multifamily properties in Ohio. Today, Swanny is recently retired from his teaching career and is happily living in San Diego with his wife and son.
In this episode, we discuss why Swanny decided to cash out his retirement accounts to purchase cash flowing condos, why he decided to “trade up” into multifamily properties out of state, why he likes to invest in markets that are not considered to be “high growth areas”, his stories of repositioning a 57 unit deal with “hookers and drug dealers”, his creative way to fill vacant units while living out of state, his biggest mistakes as an investor, why he loves helping young investors begin their multifamily real estate journeys, and much more!
To learn more about Swanny: www.spmultifamily.com
Text or Call Swanny: 858-722-7377
Listen to Swanny on: Bigger Pockets #238 Episode
Partner with us: www.pac3capital.com
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