ASK MIKE MONDAYS – Michael, I heard there are new rent contr...

oldcapitalpodcast oldcapitalpodcast | 3 years ago

Michael chats about current and future rent control issues that apartment owners are facing today. Tenants are concerned about affordability. Landlords are concerned about providing a return on capital to their investors. Politicians are creating new rent control laws. State of California Rent Control: https://www.nytimes.com/2019/09/11/business/economy/california-rent-control.html?searchResultPosition=1 State of New York Rent Control: https://www.nytimes.com/2019/06/12/nyregion/rent-regulation...

ASK MIKE MONDAYS: “Mike, what POSITIVE things are you seeing today in APARTMENTLAND?”

Nationwide Commercial Real Est... Nationwide Commercia... | 7 months ago

As you can imagine, with interest rates rising, many apartment investors have been pencils down. Investors are concerned with lower asset value & higher debt service. Is there any good news out there? What are some of the positive ideas that are occurring in apartment investing? Mike is starting to see some positive “green shoots.” Mike discusses some of those encouraging thoughts on what he is seeing in apartment investing. Listen to the guy that has acquired over 14,000 apartment units. Ar...

ASK MIKE MONDAYS - Michael, what rates of return can I expect for a multifamily investment and what ...

oldcapitalpodcast oldcapitalpodcast | 3 years ago

Michael explains the reality of investing in apartments today and what you can expect in the future. Investment expectations for investors have changed in the last few years. “Longer and Lower,” are the general themes of todays apartment investing market. Longer investing hold times with a lower rate of return can be expected.

ASK MIKE MONDAYS - Michael, are all lender TERM SHEETS the same?

oldcapitalpodcast oldcapitalpodcast | 5 years ago

Typically, your lender brings in 75-80% of the capital needed to purchase an apartment property. Obviously the lender is very important to helping you complete the transaction. A lender term sheet gives you a rough indication of what rates and leverage could be. Michael discusses the basics of a lender term sheet. Paul also discusses the challenges of the GREEN PROGRAM in the future. FIND OUT-UP FRONT- if the seller has already implemented a utility savings program on the property. The GREEN PRO...

ASK MIKE MONDAYS: Michael, I’m an Apartment investor; Is there a crash coming and will I lose all ...

oldcapitalpodcast oldcapitalpodcast | 4 years ago

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

ASK MIKE MONDAYS - Mike….I am a fairly new real estate operator….what should I do first?

oldcapitalpodcast oldcapitalpodcast | 2 years ago

Well….you need to find deals and find money! Building relationships with brokers, equity investors, contract attorneys, lenders, physical engineers, & SEC attorney should be your first course of action. Some folks may use LOOPNET to find their first deal and that is OK, but most SERIOUS BUYERS contact listing agents in the market. Don’t be a jerk…this is a small business and word will get around. Sound advice in any business. Michael Becker has purchased over 10,000 apartment units between...

ASK MIKE MONDAYS- “Michael, I don’t want to SOUND LIKE A ROOKIE; what questions should I ask the...

oldcapitalpodcast oldcapitalpodcast | 1 year ago

Nobody wants to sound like a rookie when they first enter the apartment business. Especially when having an initial conversation with an important listing broker. Michael, gives you some preliminary questions to ask. Also, when should you bring in your property management company or the lender to review the deal? Finding the right balance on WHEN you should bring in your advisors is critical to your success. In addition, Michael offers you a few examples of when he stumbled in operating apartmen...

ASK MIKE MONDAYS - Michael, What is a LURA?

oldcapitalpodcast oldcapitalpodcast | 4 years ago

To promote affordable housing, some older properties may have an income restricted LURA. A LURA is a LAND USE RESTRICTION AGREEMENT. It runs with the deed. This recorded regulatory agreement may restrict the amount of rent you can charge a tenant, based on the tenant’s income. If you rehab a property and are expecting to increase rents to justify the cost…a LURA may prevent you from being able to raise rents in the future. Make sure you ask the seller’s agent if the property has a LURA.

ASK MIKE MONDAYS - Michael, what reports should I be receiving from my apartment management company?

oldcapitalpodcast oldcapitalpodcast | 4 years ago

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.