Todd Dexheimer

last updated 2/15/2018

Todd A. Dexheimer

Owner at Sterling Acquisitions Ltd

Location:
FIRST FLOOR ROXBURGHE HOUSE, London, Greater London, United Kingdom

General Information

Experience

Owner - Cretin Construction, LLC

Owner - Dex Properties LLC

Technology Education Teacher - ISD 191

Affiliations

Realtor - Twin Cities Real Estate

Recent News  

JF1015: How He Bought Over 100 Units in Nine Months - Joe Fairless

With us today, Todd Dexheimer.
How are you doing, Todd? Todd Dexheimer: Good, Joe. A little bit about Todd - he is the owner at Sterling Acquisitions. When he began investing in 2008, he bought three different properties; I'll let him explain what he did with those three properties, but right out of the gate he bought three different properties. He proceeded to complete over 100 rehab and sell flips and 80 units of single-families, and he has bought a ski resort and he is now buying apartments out of state. He's bought 76 units since about this time last year. He's formally a high school teacher and he is in Twin Cities, Minnesota. With that being said, Todd, do you wanna give the Best Ever listeners a little bit more about your background and your focus? Todd Dexheimer: Yeah, absolutely. Like you said, I used to be a high school shop teacher; I did that for about five years, and my wife took a job in Saint Paul, which is where we live right now, so I had nothing to do but read, because right when she got married, she took a long-distance job, we were living apart, so I read and I got really interesting in investing, and in real estate investing in particular. Todd Dexheimer: I went into Memphis, Tennessee.... Todd Dexheimer: Yeah, definitely. Todd Dexheimer: I'm pretty flexible, but what I try to do on my properties is a partnership split, and it really depends on the deal, but let's just say - my main focus is on trying to find value-add. Todd Dexheimer: No, renovation. Todd Dexheimer: 185k. Todd Dexheimer: Yeah. 20 units, 2-bedroom, one-bath... Todd Dexheimer: Probably in the sixes when we're all done. Todd Dexheimer: It's in Cincinnati? Todd Dexheimer: Westwood. Todd Dexheimer: It's a C area, it's definitely gonna require a lot of work just because of the area it's in and because of the work that needs to be done, but it'll be a good property once it's done, and we might sell that one a little quicker than five years. Todd Dexheimer: I don't cash them out, I keep them in the deal. Todd Dexheimer: It's all about referrals. Todd Dexheimer: Those ones I self-manage now. Todd Dexheimer: I've got a team... Todd Dexheimer: I don't know, maybe 2-3 hours. Todd Dexheimer: Essentially, yeah. It's all about delegating. Todd Dexheimer: I've had it where a tenant would call into the city because something happened. Todd Dexheimer: Yeah, I started a [unintelligible [00:12:07].12] and I get a phone call from a tenant. Todd Dexheimer: So as I said, it was time to delegate some of that stuff. Todd Dexheimer: She decided, yeah. "It's either me or your apartments. She's [unintelligible [00:12:57].17] Todd Dexheimer: QuickBooks is all that I've used. Todd Dexheimer: I sold it. Todd Dexheimer: A lot, yeah. Todd Dexheimer: So actually I've got give credit to my old business partner, he found it. He's a big deer hunter. He ended up stumbling across this property, talked to the guy that owned it... It was just perfect timing. He wanted to sell it, so we bought it for $450,000 or something, right around there. We kind of wanted to do something with it, but it just wasn't gonna work. He wanted to do [unintelligible [00:13:50].18] he was gonna run everything... And it wasn't working; he wasn't doing anything, and I didn't want any part of running it. Todd Dexheimer: 900k. Todd Dexheimer: This was just over a year. Todd Dexheimer: Yeah, so we were gonna run events and weddings and stuff like that out of it, and it probably would have made good money, but it just would have been a lot of management and a lot of time and effort on something - I just didn't wanna focus on it. Actually, a young guy bought it and he's running weddings and events, and he runs one of those [unintelligible [00:14:32].07] events out of it, and he's doing pretty good. I talked to him not too long ago and he's doing pretty good with it. Todd Dexheimer: That's in Rochester, Minnesota. It's an hour South of the Twin Cities. Beautiful area, 172 acres... A beautiful piece of property. 8,000 square foot lodge... Todd Dexheimer: The bank gave us 100% financing on it. Todd Dexheimer: This was in 2012-ish... Todd Dexheimer: Based on the appraisal value, they gave us 100% loan on it, because it appraised at like $950,000. Todd Dexheimer: I'm not sure. I'm sure if he did, he went "Oh my gosh, what am I doing? [laughter] Todd Dexheimer: But you know, it kind of worked out for everyone. Yeah, he probably could have sold it for a little bit more, but they needed to get out of it, and they needed to get out of it desperately, and they wanted somebody that was gonna do something with it; that was the intention, and it just ended up not working. But again, now the right person has it and he's doing really good with it. Todd Dexheimer: When I first started, my wife and I basically took all of our money and we bought our first - or I guess it was our second house, but our first house in the Twin Cities in the foreclosure and that rental property, and that was all of our money. I don't know why she let me do it, but she did. Todd Dexheimer: An FHA loan. Todd Dexheimer: You wouldn't believe how many of them called me stupid. "You're crazy to be investing in real estate. In 2009...?" [laughs] The sky had fallen. So many of them just felt sorry for me that I was investing in real estate... [laughter] Todd Dexheimer: Yeah, absolutely. Todd Dexheimer: I guess I'll come up with two things. Todd Dexheimer: [laughs] I guess you did call me out. Todd Dexheimer: Yeah, let's do it. Todd Dexheimer: David Lindahl, Emerging Real Estate Markets. Todd Dexheimer: Best Real Estate Investing Advice Ever, Vol. Todd Dexheimer: Oh, boy... It's hard to say. Todd Dexheimer: It was so cool. [laughter] I still have that thing, and it's a cashflow machine... All by accident. Todd Dexheimer: I don't think I've ever made a mistake. Todd Dexheimer: No, I lost 100k because of lack of contracts and lack of just really paying attention. Todd Dexheimer: Right now most of my giving is through my church. I love volunteering. Todd Dexheimer: Yeah, absolutely. Todd Dexheimer: They could e-mail me. My e-mail is Todd@SterlingGroupMN.com. Joe Fairless: Well, Todd, thanks for being on the show and talking through how you got started with the three different properties, how you and your partner bought a ski resort and made a good chunk of cash on that, how you have kept a percentage of your fix and flips in your portfolio, so you get that income coming in... Todd Dexheimer: I appreciate it.

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Find Local Real Estate Agent MN | Twin Cities Real Estate

Todd Dexheimer
Realtor 651-895-5414 Todd@sterlinggroupmn.com

Read More
Find Local Real Estate Agent MN | Twin Cities Real Estate

Todd Dexheimer
Realtor 651-895-5414 Todd@sterlinggroupmn.com

Read More

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