ASK MIKE MONDAYS- Michael, I am now ready to go and need to find a business partner to share responsibilities with and raise equity; how do I find that?
ASK MIKE MONDAYS- Michael, I am now ready to go and need to find a business partner to share responsibilities with and raise equity; how do I find that?
The core skill of a deal sponsor is 1) finding apartment opportunities to buy 2) find equity from investors to invest in your deal. You can do this by yourself or you can recruit a partner to help you. Michael, discusses on how he and his business partner came together to form SPI Advisory.
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The core skill of a deal sponsor is 1) finding apartment opportunities to buy 2) find equity from investors to invest in your deal. You can do this by yourself or you can recruit a partner to help you. Michael, discusses on how he and his business partner came together to form SPI Advisory.
The core skill of a deal sponsor is 1) finding apartment opportunities to buy 2) find equity from investors to invest in your deal. You can do this by yourself or you can recruit a partner to help you. Michael, discusses on how he and his business partner came together to form SPI Advisory.
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.
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.
IF you are a passive investor you want to review a realistic PROFORMA before you invest. Michael discusses line items on the operating statement such as rental rate growth, loss to lease, property tax step-up costs, and future labor costs. Are the assumptions from the SPONSOR too aggressive?
IF you are a passive investor you want to review a realistic PROFORMA before you invest. Michael discusses line items on the operating statement such as rental rate growth, loss to lease, property tax step-up costs, and future labor costs. Are the assumptions from the SPONSOR too aggressive?
Wellβ¦.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. Donβt be a jerkβ¦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...
Wellβ¦.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. Donβt be a jerkβ¦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...
Many apartments may have retail or office space included within an apartment structure. A small grocery store, a coffee shop, or a nail salon can be the typical retail store you may find attached to the apartment building. Mike explains what to look for when purchasing a mix-use property.
Many apartments may have retail or office space included within an apartment structure. A small grocery store, a coffee shop, or a nail salon can be the typical retail store you may find attached to the apartment building. Mike explains what to look for when purchasing a mix-use property.
Michael shares with you his thoughts on negotiating a potential purchase sales contract and what protection language you should or should not add into the terms of the transaction. Michael gives you the insight on what is happening today in apartment investing. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former βloaner- of moneyβ and now a βowner- of commercial real est...
Michael shares with you his thoughts on negotiating a potential purchase sales contract and what protection language you should or should not add into the terms of the transaction. Michael gives you the insight on what is happening today in apartment investing. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former βloaner- of moneyβ and now a βowner- of commercial real est...
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...
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...
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. Soβ¦be careful in speaking to the appraiser, if you havenβt 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. Soβ¦be careful in speaking to the appraiser, if you havenβt confirmed those improvements....
After reviewing the initial underwriting and if you think it works for you and your investorsβ¦it becomes necessary to physically walk the property. Most listing agents require you to walk the property PRIOR to submitting a LETTER OF INTENT for purchase. The listing agent wants to make sure that you and your equity have had a chance to understand the physical needs of the property before they will consider LOI seriously. Michael discusses what you need to pay attention to when walking the prope...
After reviewing the initial underwriting and if you think it works for you and your investorsβ¦it becomes necessary to physically walk the property. Most listing agents require you to walk the property PRIOR to submitting a LETTER OF INTENT for purchase. The listing agent wants to make sure that you and your equity have had a chance to understand the physical needs of the property before they will consider LOI seriously. Michael discusses what you need to pay attention to when walking the prope...
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 Michaelβs βDUE DILIGENCE CHECKLISTβ at the Old Capital Podcast website at OldCapitalPodcast.com. This CHECKLIST gives you the best breakdown of items you need to review.
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 Michaelβs βDUE DILIGENCE CHECKLISTβ at the Old Capital Podcast website at OldCapitalPodcast.com. This CHECKLIST gives you the best breakdown of items you need to review.