On today's show, we're joined by Anton Ivanov, a U.S. veteran, entrepreneur, and real estate investor with a portfolio of over 40 rental units that can be managed in less than an hour a week. Anton is also the founder of DealCheck, the leading real estate analysis platform for quickly analyzing rental properties, flips, and commercial buildings.
In this episode, we discuss how he built his portfolio and how he works with property managers to reduce the time he spends directly managing it. We also discuss DealCheck and how it helps investors analyze properties. Stick around until the end of the episode for Anton's promo information!
From his very first property, a condo he inherited from his parents, Anton began to notice the potential for scalability and passive income when you outsource the management. Following this exposure, when he returned from deployment, Anton started by house-hacking in a duplex. He then moved to turn-key properties, some single family rentals in the southeast, and fourplexes in St. Louis. This process felt like a natural and comfortable progression for Anton, and he was able to grow and establish his team along the way as necessary.
The low time requirement for management comes from setting up very efficient management systems. A good property management company that is focused on the investor is necessary. Usually, Anton notes that these companies are best found through referrals or other testimonials from investors.
When considering a new property manager, you could meet with the company and review their operations, such as tenant criteria, lease requirements, and maintenance processes. Hopefully their systems and values align with yours, but the best property managers will be willing to tweak or adapt their processes to your preferences. Earlier on, it's important to follow-up and check in on the property management until you're comfortable transitioning to fully hands-off. Setting clear expectations up front can help make this easier.
Anton typically has a catch-up phone call once a month with some of the larger property managers. This is a high-level call about any trends or broader issues. He also reviews the property management statements. Once the peace-of-mind is achieved, there is not much day-to-day time required for the investor.
Anton created DealCheck as a personal tool to quickly and simply analyze deals. The software was designed from the ground up with the single purpose of doing your research, due diligence, and analysis in one spot. In less than 30 seconds, you can see in-depth analysis and projections. Some other tools are the importing of property data from public records, rental and sales comps, and exporting reports.
How is DealCheck different from other analysis tools?
First, DealCheck provides many customization options. Flexibility has been built into DealCheck to accommodate all unique or special situations, such as creative financing. The sales and rental comps are another key difference between DealCheck and traditional analysis tools. Third, the speed and convenience of DealCheck allows all data to sync on all devices and the numbers are calculated live in 30 seconds or less.
First, classifying your expenses as repairs and maintenance vs capital expenditures is very important. Properly classifying improvements as capital expenditures allows you to depreciate the cost over a longer period of time.
Second, other business expenses are important to capture. Travel, business miles, business meals, and other operating expenses can be deducted, decreasing your tax burden.
Learn more about Anton and his work: dealcheck.io - it's completely free! There are a few upgrade options for some additional features.
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