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ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determine IF you are buying a LEMON?

ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determine IF you are buying a LEMON?

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ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determin...
ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determin...
ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determin...
ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determin...
oldcapitalpodcast oldcapitalpodcast | 7 years ago
ASK MIKE MONDAYS - Would you build an apartment building?
ASK MIKE MONDAYS - Would you build an apartment building?
ASK MIKE MONDAYS - Would you build an apartment building?
ASK MIKE MONDAYS - Would you build an apartment building?
oldcapitalpodcast oldcapitalpodcast | 6 years ago
Michael gives reasons on why he would NOT build large apartments at this time.
Michael gives reasons on why he would NOT build large apartments at this time.
ASK MIKE MONDAYS - After you buy an apartment building, rehab it, stabilize it and are now contempla...
ASK MIKE MONDAYS - After you buy an apartment building, rehab it, stabilize it and are now contempla...
ASK MIKE MONDAYS - After you buy an apartment building, rehab it, stabilize it and are now contempla...
ASK MIKE MONDAYS - After you buy an apartment building, rehab it, stabilize it and are now contempla...
oldcapitalpodcast oldcapitalpodcast | 7 years ago
ASK MIKE MONDAYS- Michael, how do you prepare for a TAKEOVER of an apartment building?
ASK MIKE MONDAYS- Michael, how do you prepare for a TAKEOVER of an apartment building?
ASK MIKE MONDAYS- Michael, how do you prepare for a TAKEOVER of an apartment building?
ASK MIKE MONDAYS- Michael, how do you prepare for a TAKEOVER of an apartment building?
oldcapitalpodcast oldcapitalpodcast | 4 years ago
After you have spent over 90+ days in the acquisition process…its time for you to actually own and operated your building. Michael discusses a PRE- and POST- apartment takeover strategy. If you self-manage or have a third party management team; a transition plan is critical for your immediate success.
After you have spent over 90+ days in the acquisition process…its time for you to actually own and operated your building. Michael discusses a PRE- and POST- apartment takeover strategy. If you self-manage or have a third party management team; a transition plan is critical for your immediate success.
ASK MIKE MONDAYS - Why would you PASS on an apartment transaction?
ASK MIKE MONDAYS - Why would you PASS on an apartment transaction?
ASK MIKE MONDAYS - Why would you PASS on an apartment transaction?
ASK MIKE MONDAYS - Why would you PASS on an apartment transaction?
oldcapitalpodcast oldcapitalpodcast | 7 years ago
What kills a transaction right off the bat? Michael only buys in ‘specific’ areas and will not compromise on the asset location or quality. Even though it might be tempting…don’t buy in the ‘hood. Michael’s investing advice is that you must define the submarket that you want to make a position in. Michael describes what the buying environment is like in Dallas today.
What kills a transaction right off the bat? Michael only buys in ‘specific’ areas and will not compromise on the asset location or quality. Even though it might be tempting…don’t buy in the ‘hood. Michael’s investing advice is that you must define the submarket that you want to make a position in. Michael describes what the buying environment is like in Dallas today.
ASK MIKE MONDAYS - What are the BIGGEST MISTAKES in owning an apartment building?
ASK MIKE MONDAYS - What are the BIGGEST MISTAKES in owning an apartment building?
ASK MIKE MONDAYS - What are the BIGGEST MISTAKES in owning an apartment building?
ASK MIKE MONDAYS - What are the BIGGEST MISTAKES in owning an apartment building?
oldcapitalpodcast oldcapitalpodcast | 6 years ago
Michael has seen owners fail in executing their apartment ownership strategy. With that information, he discusses some of the common failures that may paralyze you in apartment ownership and how to overcome those obstacles.
Michael has seen owners fail in executing their apartment ownership strategy. With that information, he discusses some of the common failures that may paralyze you in apartment ownership and how to overcome those obstacles.
ASK MIKE MONDAYS - I am under contract and buying an apartment building. I’ve been contacted by th...
ASK MIKE MONDAYS - I am under contract and buying an apartment building. I’ve been contacted by th...
ASK MIKE MONDAYS - I am under contract and buying an apartment building. I’ve been contacted by th...
ASK MIKE MONDAYS - I am under contract and buying an apartment building. I’ve been contacted by th...
oldcapitalpodcast oldcapitalpodcast | 5 years ago
A lender needs to understand the value of the collateral. Even though you paid for the appraisal, the appraiser is hired and works for the bank. They will not discuss value with the buyer until after they have completed their final report. If you meet the appraiser at the property and you mention that you are going to do some specific rehab; the appraiser will more than likely add that into their report. So…be careful in speaking to the appraiser, if you haven’t confirmed those improvements....
A lender needs to understand the value of the collateral. Even though you paid for the appraisal, the appraiser is hired and works for the bank. They will not discuss value with the buyer until after they have completed their final report. If you meet the appraiser at the property and you mention that you are going to do some specific rehab; the appraiser will more than likely add that into their report. So…be careful in speaking to the appraiser, if you haven’t confirmed those improvements....
ASK MIKE MONDAYS: Michael, how do you DE-RISK an apartment transaction?
ASK MIKE MONDAYS: Michael, how do you DE-RISK an apartment transaction?
ASK MIKE MONDAYS: Michael, how do you DE-RISK an apartment transaction?
ASK MIKE MONDAYS: Michael, how do you DE-RISK an apartment transaction?
oldcapitalpodcast oldcapitalpodcast | 4 years ago
Today, many sellers and listing agents require buyers to put a substantial amount of NON REFUNDABLE earnest money up front…BEFORE they do certain due diligence analysis. As you can imagine, the seller wants to make sure you are financially committed to the transaction without the risk of a future re-trade. Michael explains how he gets comfortable on putting significant hard earnest money upfront on an apartment acquisition.
Today, many sellers and listing agents require buyers to put a substantial amount of NON REFUNDABLE earnest money up front…BEFORE they do certain due diligence analysis. As you can imagine, the seller wants to make sure you are financially committed to the transaction without the risk of a future re-trade. Michael explains how he gets comfortable on putting significant hard earnest money upfront on an apartment acquisition.
ASK MIKE MONDAYS - Do I need a buyer’s broker when acquiring an apartment building?
ASK MIKE MONDAYS - Do I need a buyer’s broker when acquiring an apartment building?
ASK MIKE MONDAYS - Do I need a buyer’s broker when acquiring an apartment building?
ASK MIKE MONDAYS - Do I need a buyer’s broker when acquiring an apartment building?
oldcapitalpodcast oldcapitalpodcast | 5 years ago
Buyer brokers are not common in multifamily. If you are fairly new into apartment investing, you should have a buyer’s broker represent you. If you are a seasoned apartment buyer, buyer brokers are an extension of your team and will add value. They are out looking for specific transactions that meet your vision. As a general partner you should be focused on 1) raising new equity, 2) finding new transactions. Buyer brokers can assist you in finding the right transaction.
Buyer brokers are not common in multifamily. If you are fairly new into apartment investing, you should have a buyer’s broker represent you. If you are a seasoned apartment buyer, buyer brokers are an extension of your team and will add value. They are out looking for specific transactions that meet your vision. As a general partner you should be focused on 1) raising new equity, 2) finding new transactions. Buyer brokers can assist you in finding the right transaction.
ASK MIKE MONDAYS - Can I get a LOAN PRE-APPROVAL on an apartment transaction?
ASK MIKE MONDAYS - Can I get a LOAN PRE-APPROVAL on an apartment transaction?
ASK MIKE MONDAYS - Can I get a LOAN PRE-APPROVAL on an apartment transaction?
ASK MIKE MONDAYS - Can I get a LOAN PRE-APPROVAL on an apartment transaction?
oldcapitalpodcast oldcapitalpodcast | 6 years ago
Michael discusses what lenders are looking for when applying for financing on an apartment transaction.  With apartment lending- the quality, condition and location of the asset are the most important factors in underwriting. A PRE-APPROVAL is not going to be available because 2/3rds of an apartment lending decision is based on subject property. The lender needs to have a complete picture on a number of critical underwriting variables. Examples: Where is property located and age? What are histo...
Michael discusses what lenders are looking for when applying for financing on an apartment transaction.  With apartment lending- the quality, condition and location of the asset are the most important factors in underwriting. A PRE-APPROVAL is not going to be available because 2/3rds of an apartment lending decision is based on subject property. The lender needs to have a complete picture on a number of critical underwriting variables. Examples: Where is property located and age? What are histo...