Craig Schumacher's guest appearances

Craig Schumacher

Working Class Audio

Financial Freedom with Real Estate Investing

The Cooter Greene Show 

Pat Flynn

Todd Dexheimer

Paul Moore

Rod Khleif

Vinney Chopra

J Scott

Tim Bratz

Tom Wheelwright

Ken McElroy

Kira Golden

Kevin Ward

Sheryl Crow

Scott Cooper

Hal Elrod

Eyal Levi

OwlTail

Is fear stopping you from doing your first multifamily real estate deal? If you’re not the type of person to simply jump ship from the relative safety (and health insurance) that comes with a W-2 job, but you know you can’t spend the rest of your life on the hamster wheel, then NOW is the time to activate what Craig Schumacher, MAI, calls ‘calculated courage.’ Craig Schumacher, MAI is the Managing Member at IRV Capital LLC, a real estate investment firm that focuses on multifamily and student apartments. Craig spent 25 years working as a commercial appraiser and valuation specialist. Four years ago, he decided to stop helping other people make a fortune in real estate and build a portfolio of his own. Craig closed on his first syndication deal in January, bringing him to a total of 89-units (with another 28 under contract). On this episode of Apartment Building Investing, Craig joins me to explain how he recently quit his job as an appraiser to pursue multifamily investing full time. He describes the AHA moment that inspired him to take action in 2016 and walks us through the key lessons learned from his difficult first deal. Listen in to understand what Craig would tell his younger self about getting started in real estate investing and learn what he is doing now to scale his multifamily portfolio! Key Takeaways Craig’s transition from appraising real estate to investing  Biggest hurdle = solving health insurance issue Took time to enact plan but never been happier  What inspired Craig to make a change  Shocking self-assessment at age 45 Not in position to put kids through college + retire  How Craig got started with real estate investing  Bought 5 condos + 2 duplexes (university housing) Gain experience as landlord, bank relationships  Craig’s rocky transition to multifamily  Sold university rental portfolio to buy 28-unit $20K out of pocket for foundation issues Challenges around self-managing property  Craig’s key lessons learned from his first deal  Deeper level of due diligence re: leak disclaimer Include nearby complexes in evaluation  Craig’s highly successful second multifamily deal  29 units next to Illinois State University Convert to student housing ($17K to $25K/month) Cash-out refi to return 100% of investor cash  Why sellers and brokers took Craig seriously  Some credibility from SFH portfolio Decades of experience as appraiser  What Craig would do differently in retrospect  Push past fear to take big shot sooner Cultivate ‘calculated courage’  How Craig made time for multifamily  Dedicate every free moment to investing 14-hour days for 4 years, supportive spouse  How Craig overcame his fears around raising capital  Start with friends, family and friends of friends Gets easier every time as share enthusiasm  Craig’s plan for scaling his multifamily portfolio  Expand network via podcasts, conferences Build platform by sharing content online  Craig’s advice for aspiring multifamily investors  Partner with experienced investor Add action to make ideas real  Connect with Craig Schumacher, MAI IRV Capital Craig on LinkedIn Resources Rich Dad Poor Dad by Robert T. Kiyosaki CoStar Real Estate Guys Create Your Future Goal Setting Retreat What’s the Best Investment: The Stock Market or Real Estate? Join the Nighthawk Equity Investor Club Michael’s Mentoring Program Partner with Michael Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Is fear stopping you from doing your first multifamily real estate deal? If you’re not the type of person to simply jump ship from the relative safety (and health insurance) that comes with a W-2 job, but you know you can’t spend the rest of your life on the hamster wheel, then NOW is the time to activate what Craig Schumacher, MAI, calls ‘calculated courage.’ Craig Schumacher, MAI is the Managing Member at <a href="https://www.irvcapitalllc.com/" rel="noopener nofollow" target="_blank">IRV Capital LLC</a>, a real estate investment firm that focuses on multifamily and student apartments. Craig spent 25 years working as a commercial appraiser and valuation specialist. Four years ago, he decided to stop helping other people make a fortune in real estate and build a portfolio of his own. Craig closed on his first syndication deal in January, bringing him to a total of 89-units (with another 28 under contract). On this episode of Apartment Building Investing, Craig joins me to explain how he recently quit his job as an appraiser to pursue multifamily investing full time. He describes the AHA moment that inspired him to take action in 2016 and walks us through the key lessons learned from his difficult first deal. Listen in to understand what Craig would tell his younger self about getting started in real estate investing and learn what he is doing now to scale his multifamily portfolio! Key Takeaways Craig’s transition from appraising real estate to investing <ul> <li>Biggest hurdle = solving health insurance issue</li> <li>Took time to enact plan but never been happier</li> </ul> What inspired Craig to make a change <ul> <li>Shocking self-assessment at age 45</li> <li>Not in position to put kids through college + retire</li> </ul> How Craig got started with real estate investing <ul> <li>Bought 5 condos + 2 duplexes (university housing)</li> <li>Gain experience as landlord, bank relationships</li> </ul> Craig’s rocky transition to multifamily <ul> <li>Sold university rental portfolio to buy 28-unit</li> <li>$20K out of pocket for foundation issues</li> <li>Challenges around self-managing property</li> </ul> Craig’s key lessons learned from his first deal <ul> <li>Deeper level of due diligence re: leak disclaimer</li> <li>Include nearby complexes in evaluation</li> </ul> Craig’s highly successful second multifamily deal <ul> <li>29 units next to Illinois State University</li> <li>Convert to student housing ($17K to $25K/month)</li> <li>Cash-out refi to return 100% of investor cash</li> </ul> Why sellers and brokers took Craig seriously <ul> <li>Some credibility from SFH portfolio</li> <li>Decades of experience as appraiser</li> </ul> What Craig would do differently in retrospect <ul> <li>Push past fear to take big shot sooner</li> <li>Cultivate ‘calculated courage’</li> </ul> How Craig made time for multifamily <ul> <li>Dedicate every free moment to investing</li> <li>14-hour days for 4 years, supportive spouse</li> </ul> How Craig overcame his fears around raising capital <ul> <li>Start with friends, family and friends of friends</li> <li>Gets easier every time as share enthusiasm</li> </ul> Craig’s plan for scaling his multifamily portfolio <ul> <li>Expand network via podcasts, conferences</li> <li>Build platform by sharing content online</li> </ul> Craig’s advice for aspiring multifamily investors <ul> <li>Partner with experienced investor</li> <li>Add action to make ideas real</li> </ul> Connect with Craig Schumacher, MAI <a href="https://www.irvcapitalllc.com/" rel="noopener nofollow" target="_blank">IRV Capital</a> <a href="https://www.linkedin.com/in/craig-schumacher-mai/" rel="noopener nofollow" target="_blank">Craig on LinkedIn</a> Resources <a href="https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1543626610" rel="noopener nofollow" target="_blank">Rich Dad Poor Dad by Robert T. Kiyosaki</a> <a href="https://www.costar.com/" rel="noopener nofollow" target="_blank">CoStar</a> <a href="https://realestateguysradio.com/events/create-your-future-goal-setting-workshop/" rel="noopener nofollow" target="_blank">Real Estate Guys Create Your Future Goal Setting Retreat</a> <a href="https://themichaelblank.com/report" rel="noopener nofollow" target="_blank">What’s the Best Investment: The Stock Market or Real Estate?</a> <a href="https://nighthawkequity.com/join/" rel="noopener nofollow" target="_blank">Join the Nighthawk Equity Investor Club</a> <a href="https://themichaelblank.com/mentor/" rel="noopener nofollow" target="_blank">Michael’s Mentoring Program</a> <a href="https://themichaelblank.com/partner/" rel="noopener nofollow" target="_blank">Partner with Michael</a> <a href="http://www.themichaelblank.com/session198/" rel="noopener nofollow" target="_blank">Podcast Show Notes</a> <a href="https://itunes.apple.com/us/podcast/apartment-building-investing-with-michael-blank-podcast/id848693430?mt=2" rel="noopener nofollow" target="_blank">Review the Podcast on iTunes</a> <a href="http://www.themichaelblank.com/" rel="noopener nofollow" target="_blank">Michael’s Website</a> <a href="https://www.facebook.com/themichaelblank/" rel="noopener nofollow" target="_blank">Michael on Facebook</a> <a href="https://www.instagram.com/themichaelblank/" rel="noopener nofollow" target="_blank">Michael on Instagram</a> <a href="https://www.youtube.com/user/ApartmentInvesting" rel="noopener nofollow" target="_blank">Michael on YouTube</a> <a href="https://www.facebook.com/groups/apartmentinvestor/" rel="noopener nofollow" target="_blank">Apartment Investor Network Facebook Group</a>

MB 198: The Calculated Courage to Do Your First Deal – With Craig Schumacher, MAI

Working Class Audio Session #127 with Craig Schumacher!!! Craig Schumacher has been making noise unprofessionally since 1985. He's managed to carve out a niche in the desert southwest by be part of an eclectic scene that bubbles out of Tucson and has been an integral part of the sound of  Calexico and Giant Sand, and has recorded artists like Neko Case, Amos Lee, KT Tunstall, Roger Clyne, Left Over Salmon, The Jayhawks, Steve Wynn, and John Doe at WaveLab. He is also a sought after mixer and has been to France, Sweden, LA, NYC, Austin, and New Orleans for mix jobs. He is also an adjunct professor at Scottsdale Community College for the past ten years. Craig crashes at Matt's house for a night while on his way to record the new Calexico record. Naturally an interview that was long overdue was in order. 

<h1>Working Class Audio Session #127 with Craig Schumacher!!!</h1> Craig Schumacher has been making noise unprofessionally since 1985. He's managed to carve out a niche in the desert southwest by be part of an eclectic scene that bubbles out of Tucson and has been an integral part of the sound of  Calexico and Giant Sand, and has recorded artists like Neko Case, Amos Lee, KT Tunstall, Roger Clyne, Left Over Salmon, The Jayhawks, Steve Wynn, and John Doe at WaveLab. He is also a sought after mixer and has been to France, Sweden, LA, NYC, Austin, and New Orleans for mix jobs. He is also an adjunct professor at Scottsdale Community College for the past ten years. Craig crashes at Matt's house for a night while on his way to record the new Calexico record. Naturally an interview that was long overdue was in order.

WCA #127 with Craig Schumacher