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Michael Becker & Paul Peebles
The Old Capital Real Estate Investing Podcast is aimed at Multifamily Real Estate Investors both new and seasoned. Hosts Michael Becker and Paul Peebles deliver no-hype education from an experienced commercial banker’s perspective. You will gain valuable insights from in-depth interviews with real life investors who are actively acquiring and operating apartment complexes in today’s environment. You will discover how they are identifying, financing and operating multifamily properties, as well as helpful advice on how to get started and avoid common mistakes. Be sure to subscribe today, as there is a new episode released weekly.
On our show we’ll feature industry experts and discuss topics such as:
• Syndication
• Private Placements
• Commercial Real Estate Investing
• Apartment operation and renovations
• Creating Passive Income
• 1031 exchanges
• Commercial Real Estate Lending
• Fannie Mae Financing
• Freddie Mac Financing
• CMBS Loans
• How to buy your first commercial property
• Property Tax Protesting
• How to get Started with your first Multifamily acquisition
• Saving money on Taxes
• Multifamily Mentor
• Rich Dad Robert Kiyosaki
Visit us at www.oldcapitalpodcast.com or www.oldcapitallending.com
ASK MIKE MONDAYS - Michael, how do you deal with difficult or unreasonable limited partners AFTER we close?
Real estate is easy; people can be hard. In apartment syndications, general partners need equity. That equity comes from limited partners. Not all limited partners are going to be easy to work with AFTER you close. Setting the correct investment expectations with the limited partners at the beginning of the transaction is very important. Michael also discusses how he has dealt with a challenging investor.
12:0011/03/2019
ASK MIKE MONDAYS - Michael, what should an ASSET MANAGER do?
An asset manager oversees the property on behalf of the investors. They report any financial or physical changes (good or bad) to the general partner. They help in managing a solution. When you own a small property (10-30 units) you are the ASSET MANAGER…. When you purchase a larger property or own more apartment communities, you may need to hire an asset manager. Remember, your job, as a general partner is to find more apartment purchase opportunities and find more equity. An asset manager will need help run the operational side of the business.
12:2601/03/2019
Episode 172 - Why COST SEGREGATION will give you tremendous tax advantages when owning apartments
Cost segregation identifies building costs that would typically be depreciated over a 27.5 period and reclassifies them to permit a shorter, accelerated method of depreciation for certain building costs. Your apartment building is made up of thousands, maybe millions of parts. Flooring, cabinets, lighting, stoves are examples of items that can have different and shorter depreciation schedules. A cost segregation study identifies and reclassifies those assets to shorten the depreciation time for taxation purposes, which reduces current income tax obligations. This is one of the biggest reasons on why we buy real estate. Tax advantages!! BBG is a nationwide commercial appraisal group that not only completes valuation, but helps real estate investors recognize rapid depreciation on their asset. Louis Yorey is a COST SEGREGATION expert with BBG. His group creates the cost segregation analysis/ report that assists you with tax savings. To contact Louis Yorey: [email protected] To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
28:5301/03/2019
Episode 171 - Coaching and Counseling: What?? I didn’t realize that!! That’s not right!
Independence is leaving the commercial real estate business. Listing agents are being hired by commercial apartment lenders. Yes…they now work for the lender! Gone are the independent real estate agents that represented the seller only. Today, listing agents have two bosses, 1) the apartment seller/owner and 2) the apartment mortgage company they are employed with. How do you serve two masters? The listing agent is almost forcing the buyer to use their commercial mortgage company; IF they want to be considered in “best and final.” What this means to you… is that the buyer is NOW handcuffed to the listing agents’ lender…and will not get the best financing available. Your listing agent is now a mortgage originator and getting paid to push mortgages to the buyer, too! How is that possible? The listing agents mortgage company will not shop other agency lenders. The listing agent’s lender… will not get you the best interest rate, best leverage, and best terms available. In today’s podcast, Paul and James bring you up to speed on how and why this is happening and how it will impact you in the future. To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
22:1601/03/2019
ASK MIKE MONDAYS - Michael, what do you read?
Michael discusses what he reads on a daily basis and what helps him understand the big picture in apartment investing. If you come across interesting and supportive investing articles; share some of those articles with your investors. Michael, uses the example of Apple adding thousands of jobs in the same submarket of an apartment building that he owns. He also makes comments after the article on how this will impact their investment with a brand new campus a few miles away. Communicating that information to your investors, helps reinforce a good investing decision by them.
10:3717/02/2019
Episode 170 - How to Achieve More Success by Teaming up with a “talented partner”
Justin Martinez and Matt Picheny are business partners in a 132 unit, two property portfolio in Lawrence, Kansas. Justin lives in Dallas, and Matt lives in Boston, we discuss how they found this opportunity near the University of Kansas. Success in real estate just doesn’t happen overnight. You must take action! Many new investors go to real estate conferences to get educated and networked with like minded folks. Matt met Justin at an educational and mentoring conference and found they had common ground. Prior to meeting Justin, Matt had only purchased single family homes and had never purchased an apartment building. Matt leveraged Justin’s past ownership and management experience in over 1200 units to help him purchase a large apartment building. If you DO NOT have current multifamily ownership real experience; you will need to find a partner that brings a set of skills that you are lacking. Listen to how Matt and Justin came together to purchase a large apartment building. Teaming up can bring success faster. Property website: sunriseapartments.com To contact Justin Martinez: SkyCastleProperties.net To contact Matt Picheny: [email protected] To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
51:2517/02/2019
ASK MIKE MONDAYS: Michael, I am buying an apartment building, what due diligence items should the seller produce?
ASKING and GETTING are two different things when dealing with a seller. Michael explains what critical financial and physical information you must ask the seller to produce before your earnest money is at risk. Make sure you download Michael’s “DUE DILIGENCE CHECKLIST” at the Old Capital Podcast website at OldCapitalPodcast.com. This CHECKLIST gives you the best breakdown of items you need to review.
11:4810/02/2019
Episode 169 - IS THE APARTMENT CRASH COMING? CoStar Analyst/ Economist David Kahn
CoStar Group’s David Kahn illuminates the “big picture” behind apartment investing in Texas. Before you invest, you need to know some of the basics: What can you expect in annual rent appreciation? How are occupancies on B & C apartment properties? Where are the new jobs being created? What are those jobs paying employees? What can you expect with cap rates in the future? What location should we invest in DFW? Where are the new apartments being built? Please take notes. If you want to get a copy of David Kahn’s presentation please send an email to [email protected] To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
35:4708/02/2019
Episode 168 - How did two “smart guys” come together and buy over 400 units in less than 18 months?
Shane Thomas and Prashant Satoskar did not know each other 2 years ago. Shane and Prashant met at an apartment educational/mentoring group meeting. They immediately recognized that by working together it would make their investing partnership stronger. Both guys brought in strengths to the team. Today, they own 3 large apartment buildings. To go bigger (more units) and go faster (shorter time frame) - it’s important to meet as many fellow investors that share your common goals. Networking within the apartment investor community is critical. If you are looking for equity, vendors, or partners; it’s important to attend and network with as many qualified folks as possible. In many markets within the country, trying to win a deal is super competitive. Sometimes, you are not the original choice of the seller. Shane and Prashant discuss winning and closing two deals AFTER they were not originally chosen. Coming in second may feel like coming in last…but many times, the original buyer cannot perform. Keep the faith. To contact Shane Thomas: [email protected] To contact Prashant Satoshar: [email protected] To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
49:2701/02/2019
Episode 167 - What are SMART APARTMENT REIT MANAGERS investing in today? What they know and what you need to know!
Apartment REIT’s (REAL ESTATE INVESTMENT TRUSTS) own thousands of apartment units throughout the country. They own all different types of apartments; from brand new buildings in downtown urban areas to older properties in the suburban markets. These apartment managers and executives get together once a year to discuss the latest insights and market intelligence in apartment ownership. The 2018 NAREIT meeting was in San Francisco in November and featured some of the brightest minds in apartment ownership. James discusses investor fundamentals that large apartment ownership groups already know and what you need to find out. Listen to what specific cities these institutional apartment owners are buying in and what they are doing to push NOI. These institutional apartment buyers are just like you… buy a good marketable asset, in a good area…fix the problem, stabilize the asset, hold for cash flow or sell for a profit. Learn pro-tips from these professional investors. To contact James Eng: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
32:3225/01/2019
SPECIAL EDITION: Help US - Help THEM Hoops for Homelessness
Saturday, March 30 7.30a - Noon Southern Methodist University- Dedman Center Dallas Hoops for Homelessness is a 3 on 3 half court basketball tournament hosted by Old Capital in order to raise money and awareness for the charity organization City House. City House is dedicated to providing homeless children and teens in North Texas with emergency shelter and transitional residential services. We need YOU to play!! It will be a great way to network and compete with others in the apartment industry, while at the same time supporting a great cause. Please join us for this event.
24:3923/01/2019
ASK MIKE MONDAYS - Michael, how do you get comfortable with putting HARD EARNEST MONEY into the transaction on day one?
Your seller may require you to prove that you are a serious buyer by demanding a large amount of initial earnest money up front. This money could be at risk, IF you do not perform. The seller wants to assured that you won’t re-trade them during the sales process. Michael explains some of the paths he uses to mitigate that possible risk.
09:2420/01/2019
Episode 166 - NICE GUYS do finish first! Listen to how Kevin Chalmers acquired 488 units
Five years ago, Kevin Chalmers managed a team of engineers at a large hi-tech company. As a salaried employee, he was working 60 hours a week and getting paid for 40. He worked and saved and then worked and saved, a little more. He was getting ahead but was getting taxed pretty hard on his personal income and was looking for a better way. A work friend gave him the name of a real estate education and mentoring group. After he went to that education and mentoring group and was hooked on real estate. As you can hear in this podcast, Kevin now has the passion for real estate. Today, with the help of that education and mentoring group, Kevin and his partners own and control 3 large apartment buildings with 488 units. He has also invested passively in over 3200 apartment units. Wow!! Listen to how Kevin embraced apartment investing and retired from corporate engineering at age 41. Way to go, Kevin! To contact Kevin Chalmers: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
54:0118/01/2019
ASK MIKE MONDAYS - Michael, I just acquired a 9 unit apartment building and WOULD LIKE TO AIRBNB all or most of them. How can I get a Fannie Mae or Freddie Mac loan?
Michael gives his input on the AIRBNB platform in multifamily ownership. Also, he answers a separate question on the pros and cons of SECTION 8 tenants
12:2612/01/2019
Episode 165 - Get the Value Right! You need to know…what is IMPORTANT to your apartment appraiser?
Grant Williamson is a commercial real estate appraiser for BBG. He just received the prestigious MAI designation from the Appraisal Institute. BBG is a nationwide commercial real estate valuation and advisory company. Grant’s group appraised over 350 apartment properties in the Dallas area in 2018. BBG appraised over 10,000 nationwide. Grant explains to listeners what an appraisers’ role is within the transaction and what to expect. He expounds on cap rates, amenities that he is seeing that increases value, and where the best sub-markets are in Texas. To contact BBG: BBGRES.com To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
43:0312/01/2019
ASK MIKE MONDAYS - Michael, would you talk a little bit about the different loan covenants offered to a well-qualified seasoned guarantor compared to a newer sponsor?
Michael sheds light on the various restricted language sometimes found in the loan documents that lenders will add or subtract based on the sponsors apartment ownership experience level, past repayment history with the lender and size of the loan transaction. Also, Michael gives another reason why investors like real estate investing. HINT: Great Tax Advantages.
16:5507/01/2019
Episode 164 - ASK THE UNDERWRITER - THIS IS REQUIRED LISTENING. To be successful in 2019 you must know the apartment underwriting guidelines.
Every quarter in 2019, we will feature an in-depth conversation with a loan decision maker. Today we focus on underwriting guidelines with Fannie Mae. SVP, Chief Credit Officer- Jon Banyard and VP, Production- Fritz Waldvogel, both with Dougherty Mortgage, help you understand the benefits of working with a Fannie Mae lender. Fannie Mae offers non-recourse, longer term, permanent financing on stabilized apartment properties. Dougherty is a licensed Fannie Mae DUS lender-only 25 in the country have this delegated loan approval authority- from Fannie Mae You want to understand how building a long-term partnership with Fannie Mae will help you build your apartment portfolio quicker. Remember, in certain circumstances, up to 80% of the transaction could be funded by your Fannie Mae lender; isn’t it important to know what the specific guidelines are?
58:2305/01/2019
ASK MIKE MONDAYS - Michael, have you ADJUSTED the IRR (INTERNAL RATE OF RETURN) in deals you are doing to account for lower cap rates, higher interest rates and lower annual rent increases?
Michael explains what he is seeing when raising capital from investors.
12:3731/12/2018
Episode 163 - 4 KEY LESSONS: Amazon business buying vs. Multifamily Investing (WHITE PAPER REPORT)
James Eng recently listened to a panel of experts who buy and sell online Amazon businesses. The entire time he was listening, he couldn’t help but see the similarities to multifamily investing. While these businesses sold different products from nutritional supplements to deodorant, there were some lessons from these entrepreneurs brought to the table that corresponds to you as you run your multifamily investing business. You want to listen to this podcast! To contact James Eng: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
40:5428/12/2018
ASK MIKE MONDAYS - Michael, what are the LIQUIDITY & NET WORTH requirements from a lender to qualify for an APARTMENT LOAN?
Buying a large apartment building is NOT a NO CASH/ NO NET WORTH/ NO CREDIT business model. The lender needs to see the depth of your balance sheet. Your lender is going to loan you thousands of dollars and wants to make sure that they are comfortable with your balance sheet. Michael breaks down what typical apartment lenders need.
12:1125/12/2018
Episode 162 - You don’t need a HARVARD MBA to buy CLASS C apartments…but it doesn’t hurt!
Jack Langenberg and Tom Lafferty are business partners in a 154 unit apartment building. Jack came from a corporate background and has a Harvard MBA; Tom is a local firefighter. These two guys play to each other strengths. These team mates had to assume the current loan on the property. If they did not assume the loan, they would have paid hundreds of thousands of dollars more in price. They also applied for a supplemental loan (second lien) from the current loan servicer. They wanted to get the highest leverage possible. James discusses some of acquisition risks you may incur; IF THE SELLER takes their foot off the gas with occupancy and net rental income falls. To contact Jack Langenberg: [email protected] To contact Tom Lafferty: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
39:2421/12/2018
ASK MIKE MONDAYS - Michael, besides real estate brokers, where else can you find OFF MARKET deals?
Michael enlightens apartment buyers that OFF MARKET transactions are like capturing unicorns. Social media has created some perceived OFF MARKET opportunities in chat rooms and on Facebook, but in reality, it’s a waste of your time. Focus on making the relationships with the real estate brokers in your market.
09:1216/12/2018
Episode 161 - Building a STRONG TEAM helps you go from ZERO to 310 units
Bryan Amos has assisted hundreds of apartment investors in their physical due diligence. He is your advocate. He is the apartment inspector/ engineer that you rely upon to make sure the plumbing, electrical, roofing systems are going to work AFTER you buy the asset. For the last few years, he wanted to buy an apartment building for his family. He knew he wanted to buy a property that needed updating, was in a good submarket, and was also already stabilized. He found a 310 unit building. Unfortunately, he couldn’t buy it by himself. He was going from owning zero units to potentially owning 310 units. To do that…he had to assemble a team of strong partners. Bryan discusses his journey to find those partners and the strength that all of team members provided to make it happen. To contact Bryan Amos: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
43:1613/12/2018
ASK MIKE MONDAYS - Michael, what are the biggest barriers to entry into apartment ownership for someone UNDER THE AGE OF 25?
Michael gives us feedback to a YOUNGER apartment buyer on what they should focus on when entering into the apartment ownership business.
11:0710/12/2018
Episode 160 - Understanding the INSTITUTIONAL APARTMENT BUYER with Jorg Mast at JLL- Dallas
The institutional apartment buyer is at the top of the food chain. These equity buyers are typically pension & fixed income funds needing monthly cash flow for their investors. They place sizeable equity amounts into large, newly built, urban or suburban apartments throughout the nation. The institutional buyer typically buys the new construction project from a real estate developer. Instead of syndicating a transaction, the institutional apartment buyer brings all the equity. The institutional investors have a very structured discipline in their investment analysis. Jorg gives us details on what the institutional apartment buyer is seeking. To contact Jorg Mast: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
35:3810/12/2018
ASK MIKE MONDAYS - Michael, how will the continued population growth in Texas effect apartment ownership?
Michael discusses a recent article written by economist Jim Gaines with Texas A & M University Real Estate Center.
10:5403/12/2018
ASK MIKE MONDAYS: Michael, I’m an Apartment investor; Is there a crash coming and will I lose all my money?
Michael examines the state of the apartment market and discusses an interesting article that Freddie Mac provided. Please read: https://globenewswire.com/news-release/2018/10/17/1622867/0/en/Struggling-with-Housing-Costs-Renters-Continue-to-Find-Affordability-in-Renting.html
10:0419/11/2018
Episode 159 - Jake & Gino: First Friends and now Business Partners in a 1000 units
Jake Stenziano and Gino Barbaro came from different backgrounds before they bought their first apartment building. Jake was in medical sales and Gino owned a restaurant...BUT both wanted to be real estate entrepreneurs. Using their own money...they began to acquire, rehab, and stabilize apartment buildings. Today, they have a thriving business that owns over 1000 units in Tennessee and Kentucky. The Jake and Gino Podcast advocates to investors that you will be successful in apartment investing by buying right, managing right and financing right. Make sure you listen to their podcast. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
32:0519/11/2018
ASK MIKE MONDAYS - Michael, what reports should I be receiving from my apartment management company?
Michael discusses the different reports that a management company should be providing to the managing member every month. Obviously, it is better to overly communicate with investors and partnerships with detailed monthly operating statements.
11:4714/11/2018
Episode 158 - Show me the Money! Find your money through Self Directed IRA investors
Rebecca Miller, with Quest Trust Company, discusses the advantages of having investors use Self Directed IRA’s for investing in apartments. A self directed IRA is one that permits the account owner to invest their IRA in what they know best, free from the investment restrictions imposed by a more traditional brokerage style account. This allows your passive real estate investors to use their IRA’s to invest in your deal. There are rules that must be followed; Rebecca Miller explains. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
40:2212/11/2018
Episode 157 - Market Timing: Northmarq brokers explain the current selling environment
Top Producing Apartment brokers, Taylor Snoddy and James Roberts discuss challenges and opportunities when selling apartments. Taylor and James and their team members will do over $1 billion in apartment transactions in 2018. They focus on workforce housing in the Texas market. You want to get to know these top producing agents. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
33:0205/11/2018
Episode 156 - The ACCIDENTAL LANDLORD becomes a SUCCESS
In 2008, Satya Masina transferred to Texas. Unfortunately, he could not sell his family townhome in New Jersey. After months on the market, he decided to rent the property. It immediately had a tenant and a new rent check coming in every month. The property was paying for itself. Satya became an accidental landlord and loved it. He decided to purchase more investment properties. Satya now owns almost 150 units. Listen to how he did it. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
35:5927/10/2018
ASK MIKE MONDAYS - Michael, is it recommended to have both a real estate attorney and an SEC attorney ? Can this be one role ?
09:0522/10/2018
Episode 155 - Apartment Outlook: The view from 30,000 feet, 10,000 feet…and 1 foot
A coaching and counseling session with James Eng. James gives listeners an overview of the macro-economic assessment of what is happening in today’s apartment & capital markets. He references Howard Marks most current investor memo called: The Seven Worst Words in the World. Mr. Marks is the Co-Chairman of Oaktree Capital Management. Oaktree Capital manages over a $122 Billion in assets. Warren Buffett always looks forward to reading his investor memos. You want to read this memo! https://www.oaktreecapital.com/insights/howard-marks-memos James offers feedback to the listeners on comments made at the most recent Marcus & Millichap Conference in Dallas focusing on apartment investing. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
47:0121/10/2018
Episode 154 - BE CAREFUL OUT THERE: Why rising interest rates matter when applying for an apartment loan
A special loan officer roundtable discussing the recent impact on borrowers, loan amounts, and additional equity needed when interest rates rise quickly. When interest rates rise during the 45-60 loan approval process it can have a dramatic impact on the final loan amount. Interest rates rise…loan amounts fall…significantly. James Eng & Dave Walls explain what can happen on Fannie Mae and Freddie Mac loans and what you should know. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
39:2413/10/2018
Episode 153 - Multifamily Story Time: Darwin German shares some wacky stories in owning and managing apartments
Over the last 28 years, Darwin German has owned and managed thousands of apartments. Darwin discusses the crazy stories of tenants, drug dealers, sellers, fires, and surviving in apartment ownership. After you purchase your first transaction… you will have a few stories yourself to share to investors and friends. To contact Darwin German: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
47:1504/10/2018
Episode 152 - EMPOWERING WOMEN into Real Estate - October 25 San Mateo, CA YOU ARE INVITED!
website. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at Are you interested in learning more about how Multifamily Syndications work? Please visit to learn about Michael's Real Estate Syndication business with SPI Advisory LLC." data-userid="692180986067419136" data-orgid= "692180986695241728">You’re invited to our next NorCal Apartment Investor Network! HIGH POWERED WOMEN BLAZING NEW TRAILS in REAL ESTATE. Are you a high powered woman in real estate? Or maybe a proud husband, father, friend, or family member? Or perhaps you're a super star in the making and looking for a little inspiration? Then you don't want to miss our next NorCal AIN meeting featuring a guest panel of some of the biggest and baddest women we know who are blazing new trails in the multifamily industry. Hear them share their personal stories of what it takes to be GREAT. Kathy Fettke- Headlining as Guest Moderator It’s a woman’s world; at least it will be on Thurs, Oct. 25 in San Mateo, CA. 6.30pm at the San Mateo Marriott San Francisco Airport in San Mateo, CA. RSVP at the OldCapitalPodcast.com website. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
31:4227/09/2018
ASK MIKE MONDAYS - Michael, you mention that on half of the deals you see, you do a BACK OF THE NAPKIN ANALYSIS to see if a deal fits; can you explain your process?
Michael gives a high level breakdown on what you should focus on when presented with a potential real estate opportunity. Do not go into great analysis on every deal…you are just wasting precious time. Listen to what is important on the initial deal review.
07:2623/09/2018
Episode 151 - Silicon Valley Engineers have transitioned into Apartment Moguls
Boris, Oshi, Albert and Leonid are business partners and have been buying apartment buildings for the last few years. By the end of the month, they will own almost 800 doors. They first started off buying single family homes in 2010, but felt drawn into apartments because of scalability. As you can hear, these guys were not born in the United States; they came to Silicon Valley less than 20 years ago. Today, two of the partners, have decided to retire from the high tech industry and are pursuing apartment investing full time. Listen to how they are following their American Dream. Can you do this? To Contact Wealth Grow Investments: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
35:1720/09/2018
ASK MIKE MONDAYS - Michael, we are a week away from closing and the seller is asking for an extension for “internal legal issues.” Have you ever had a deal not close because of the seller? How did you handle it?
Every buyer’s worst nightmare is a seller unable or unwilling to close AFTER you have spent thousands in pursuit costs. Michael discusses what remedies could be used for seller defaults.
06:5616/09/2018
ASK MIKE MONDAY - We are thinking of REBRANDING our property and changing its name; any pitfalls?
Perhaps, on purchase, you should consider changing the name of the property. Michael discusses some of the reasons why he has rebranded some of his assets.
09:0209/09/2018
Episode 150 - Meet 2017 National Apartment Association Winner: John Ridgway
John Ridgway and his Celtic Realty Advisors won the 2017 National Apartment Association award for BEST APARTMENT IN THE COUNTRY for his Grove on Gladstell Apartments. This 52-unit apartment building in Conroe, Texas beat out thousands of apartment ownership groups throughout the country. He transformed a 1972 dilapidated class C- property to an updated B with contemporary charm. Could you do what John did? John began his career in apartment management 30 years ago. After making other folks rich, he transitioned into apartment ownership. He has owned over 1000 units. Today, with his invaluable experience in apartment ownership and management, he is a mentor and educator with LifeStyles Unlimited. John gives back to fellow apartment investors and is committed to making others successful with his specific industry knowledge. To contact John Ridgway: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
44:1909/09/2018
ASK MIKE MONDAYS - Michael, I am thinking of buying a $1 million apartment building and should I put on PERMANENT DEBT?
Michael gives an example on apartment loan structuring and what you should consider BEFORE you lock yourself in with a future large prepayment penalty. When you are buying your first apartment building and it qualifies for a long term Freddie Mac loan, you may want to consider additional financing options if you are thinking of selling within the next 5-7 years.
07:0303/09/2018
Episode 149 - How to do PROFITABLE transactions in this STAGE OF THE MARKET; what’s working?
The Old Capital Podcast is on the road in San Jose at the Northern California Apartment Investor Networking group. The guys take questions from the audience about the status of the apartment market. This podcast will give you an insight on what’s happening in the apartment investing market today from a large apartment operator and a commercial mortgage lender. To join the APARTMENT INVESTOR NETWORK: https://www.facebook.com/apartmentinvestornetwork To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
45:2103/09/2018
ASK MIKE MONDAYS - Michael, What do you think about sponsors offering a PREFERRED RATE OF RETURN to investors?
Michael discusses the opportunities and challenges that deal sponsors must consider IF they want to offer equity investors a preferred rate of return on their investment.
11:4127/08/2018
Episode 148 - What you need to know BEFORE investing your HARD EARNED DOLLARS. Hans Box, CPA breaks down common investing terms and structures
Hans Box is a talented, top producing commercial loan officer for Old Capital; but also is an investor and a CPA. Hans has been a deal sponsor or a passive investor on many real estate transactions over the last few years. Hans shares his experience in real estate investing and breaks down some common jargon into easy to understand terms. Hans also coaches passive investors to be proactive with deal sponsors. He wants you to recognize that you are making an investment not only on the jockey (deal sponsor) but also the horse (the apartment building). Can the deal sponsor clearly articulate what the goal of the transaction is all about? Are they buying a value-add property or a yield property? How much rehab is needed? What is the expected rate of return? When can I expect a return on my investment? How much “skin in the game” are the deal sponsors co-investing into the transaction? What CAP rate are they using on the sale? Listen to this comprehensive discussion on how passive investors make money in apartment syndications. To contact Hans: [email protected] or [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
49:3826/08/2018
ASK MIKE MONDAYS - Investing in an apartment syndication? What PASSIVE INVESTORS MUST ASK DEAL SPONSORS
Are you looking to invest into an apartment syndication? Most syndicators or deal sponsors will have a PRIVATE PLACEMENT MEMORADUM detailing the risks involved in investing in an apartment transaction. BUT, when listening to the deal sponsors pitch, you must ask a few questions also. Michael explains some of the simple questions that passive investors MUST ask the managing member or deal sponsor. Your money is important to you; so you need to understand the deal sponsors past track record in apartment investing, the economics of the deal story, when is your money going to be returned and what is the expected rate of return on the investment, and finally what level of rehab or renovation will be needed to increase NOI.
13:0019/08/2018
Episode 147 - NEVER TOO LATE to buy apartments. A real estate broker becomes an apartment owner.
Rick Stilovich has been a commercial real estate broker for over 30 years. He represented OTHERS in purchasing and selling all types of commercial real estate. He made many of his clients very rich in real estate ownership. After retiring from real estate sales a few years ago, it was NOW time to focus on his own financial goals. Rick wanted to buy apartments for himself and his family. He wanted to buy a much larger apartment building than what his personal balance sheet dictated. He found that syndicating a transaction (raising equity with others) gave him the ability to buy a 64 unit building in Denton, Texas. Rick discusses the journey to get him into the position to buy a building. To contact Rick: [email protected] To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
49:3119/08/2018
ASK MIKE MONDAYS - I want to a buy an apartment building. What do I look for in the numbers?
Michael explains to a potential apartment buyer on what is important in the operating statement. Do you look at the trailing 1, trailing 3, or trailing 12? What is important? Michael talks about the importance of analyzing the trend line of income and expenses.
10:0912/08/2018
Episode 146 - Could you learn something from a guy that manages over 19,000 apartment units?
Ryan Wehner manages over 19,000 units in Texas and Oklahoma. His third-party property management company provides the day to day management of apartment properties. Ryan discusses the reasons to have a management company oversee your asset. Ryan then explores the state of the apartment market in annual rental growth and what to expect in the future. On the expense side, Ryan is seeing increased expenses in property taxes, insurance and employee costs. He gives an example on the benefit of being a landlord in Texas. The eviction process is much easier than many states. If you “don’t pay…you don’t stay”…it is one of the advantages of owning real estate in Texas. Ryan then explains the benefits that some property management company’s can offer…a master insurance policy. Michael uses a master insurance policy and the savings that can be achieved. Ryan discusses the line item expense of water costs. Water cost can be a huge variable expense; from tenant usage and leaks. Carl Wehmeyer is with Niagara Water Conservation. Niagara fights the war against water waste. Carl explains how a simple phone app can save thousands of dollars in water waste on apartment properties. The on-going water monitoring has helped clients save money. To receive our FREE 15 page WHITE PAPER REPORT on the 2018 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
43:3311/08/2018