ASK MIKE MONDAYS - Mike, when you are buying a property, how do you handle the current staff that want to stay and how to screen them and then what do you do if you aren’t going to keep them?

If available, retaining some or all of the existing staff can give you immediate inside knowledge on some of the property secrets that you did not uncover during due diligence.

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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 - Mike, when you are buying a property, how do you handle the current staff that wa...

oldcapitalpodcast oldcapitalpodcast | 5 years ago

If available, retaining some or all of the existing staff can give you immediate inside knowledge on some of the property secrets that you did not uncover during due diligence.

Ask Mike Mondays - When rehabbing a value-added property; where do you start first?

oldcapitalpodcast oldcapitalpodcast | 6 years ago

Always have a physical due diligence report done BEFORE you buy the property. Make sure that you understand the rental submarket and the tenant demographics. Rely upon the information from a qualified property management company that operates in the same submarket. Don’t over improve the asset too much for the submarket; if the market doesn’t recognize the improvement (pay you more rent) you could have thrown good money after a bad idea. Listen to Michael's thoughts

ASK MIKE MONDAYS - How do you select a property manager and when in the process do you engage a prop...

oldcapitalpodcast oldcapitalpodcast | 5 years ago

After finding the right property; selecting the right property management company is the MOST important decision that an ownership group must determine.

ASK MIKE MONDAYS - How do you buy you first apartment transaction?

oldcapitalpodcast oldcapitalpodcast | 5 years ago

Michael understands your first transaction is the toughest. Michael owns over 5200 units, but the toughest one was going from ZERO to ONE. Michael gives you the insight on what you should do to get a “win” on the board.

ASK MIKE MONDAYS - When underwriting a transaction; what ASSUMPTIONS do you use? Do you use a sensit...

oldcapitalpodcast oldcapitalpodcast | 5 years ago

Michael and Jonathan Ferrell discuss the economic assumptions that investors must make when purchasing a property.

ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determin...

oldcapitalpodcast oldcapitalpodcast | 6 years ago

ASK MIKE MONDAYS: Michael, how do you DE-RISK an apartment transaction?

oldcapitalpodcast oldcapitalpodcast | 3 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.

ASK MIKE MONDAYS - 1) Mike, when buying a CLASS C apartment, what is the largest CAP X expenditures ...

oldcapitalpodcast oldcapitalpodcast | 4 years ago

Upfront physical due diligence is critical when purchasing any apartment building. Have your engineer/ general contractor review all components to the apartment. Not reviewing deficiencies with your electrical, plumbing and sewer, foundation and roof can be the iceberg that sinks the investor’s ship.

ASK MIKE MONDAYS- Michael, how do you prepare for a TAKEOVER of an apartment building?

oldcapitalpodcast oldcapitalpodcast | 3 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.