Mastering Pre-1940s Rehab, Managing Affordable Rentals, and more with Mike Bonadies

Mike Bonadies is co-founder of TerraVestra Property Managers, a company that specializes in property management and services for landlords.  In today’s episode, Mike shares with us his pre-1940s construction journey and gives tips on making his rental properties loved by his tenants.

[00:01 – 08:09] Opening Segment

• Mike, a generic landlord focused in C & D assets
• Hitchhiking through the Arab Spring

[08:10 – 15:43] Investing in Pre-1940s Construction

• Why Pre-1940s Construction: The birth of building codes
• Building Confidence Overtime and Finding Real Skeletons Behind the Walls
• Staying disciplined and keeping your reputation during the rehab

[15:44 – 27:56] Mastering Pre-1940s Rehab, Managing Affordable Rentals

• All the equipment you need for your pre-1940’s construction rehab
• How to Make Managing your Boiler Bills Fun
• You Replace the Windows!
• Mikes Perspective on Investing in C&D Properties
• Mike’s Strategies to Prevent Tenant Eviction

[27:57 – 35:51] Closing Segment

• Quick break for our sponsors
  • The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com
• What is the best investment you’ve ever made other than your education?
  • Spending time with his employees
• Mike’s worst investment
  • Overeducation
• What is the most important lesson you’ve learned in business and investing?
  • “Building a team and building a culture for your team.”

Connect with Mike Bonadies through his email [email protected]

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Tweetable Quotes:

“You’ve got to make sure that you buy at the right price and you have contingency baked into rehab.” – Mike Bonadies

“Building the right culture [for your team] is power.” – Mike Bonadies