Apartment Acquisition Tips

ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thi...

oldcapitalpodcast oldcapitalpodcast | 5 years ago

You may have to look at several apartment opportunities BEFORE you find the right one. The ability to underwrite a transaction quickly will help you make swift decisions on whether to pursue with additional analysis time or drop the deal. Mike discusses the specific documents the seller needs to provide you to analyze the transaction correctly.

Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles: ASK MIKE MONDAYS: “M...

Nationwide Commercial Real Est... Nationwide Commercia... | 1 year 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 - 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.

ASK MIKE MONDAYS - What do lenders look for when approving an apartment loan?

oldcapitalpodcast oldcapitalpodcast | 7 years ago

70% of the lending decision is based on the building operations (historical and future) and 30% is based on the sponsor (liquidity, net worth, past ownership experience of apartments) Listen to Michael explain what’s important in apartment financing.

Nationwide Commercial Real Est... Nationwide Commercia... | 1 year ago

Mike gives us an update on what to expect when you are raising capital to fund a transaction. First- it was higher interest rates, Second- it was the seller and the buyer not knowing the current value of property because cap rates have expanded, And Now, its raising equity to fund a deal. Are there LP’s wanting to invest? Michael chats about how a typical capital raise is going today. Listen to the guy that has acquired over 14,000 apartment units. Are you interested in learning more about h...

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.

oldcapitalpodcast oldcapitalpodcast | 6 years ago

What is it and does every lender have that? Banks do not, Fannie and Freddie do! Freddie's is called Multifamily Green Advantage. Fannie's is called the Green Rewards Program. BOTTOM LINE: Older properties need to be more energy efficient; the agencies are incentivizing owners to change current usage by landlords and tenants of electric and/or water by 20%... if you are successful, your new loan may have a lower interest rate up to 33 basis points. Wow!!

ASK MIKE MONDAYS -What can I expect when a building catches on fire?

oldcapitalpodcast oldcapitalpodcast | 7 years ago

ASK MIKE MONDAYS - Michael, What is a LURA?

oldcapitalpodcast oldcapitalpodcast | 5 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 - Should we ask the seller for bank statements when buying an apartment building? I...

oldcapitalpodcast oldcapitalpodcast | 6 years ago

Michael uses his DUE DILIGENCE checklist to help him request documents from the seller. Everything is written out and are standard items for the seller to deliver. Make sure that you get a copy of this ‘wish-list’ at the OldCapitalPodcast.com website.

ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thing you look at?

ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thing you look at?

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ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thing you look at?

ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thing you look at?