Episode 84 - Working With Brokers and Finding the Best Off-Market Deals

The Old Dawg chats with The Big Dog (Michael Becker) 


Bill Manassero with the Old Dawg REI Network Podcast explores why Michael Becker has a track record unlike few others.  In less than 4 years, Mike has acquired over 4,000 units.  That's right!  4,000 units in less than 4 years!  In this very special podcast, Mike will be sharing some of his insider secrets on how he got there so fast.  In his interview he will be discussing tips for working with brokers (your number one source of great deals), leveraging and how to find the best off-market deals.

• How to recruit people into your deal to help you qualify for the good loans
• How to build and maintain a strong deal funnel
• How Mike went from buying single family foreclosures, rehabbing and renting them out to buying multimillion dollar apartment communities
• How to get brokers to listen to you even when you have no prior experience
• How to get brokers to call you first when they have great off-market deals
• The importance of knowing how to properly underwrite potential properties
• Creating a powerful “elevator pitch” to share with everyone you meet to attract great deals and high net worth investors

Listen to the olddawgsreinetwork.com

To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com

Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.


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ASK MIKE MONDAYS - Why would you PASS on an apartment transaction?

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.

Episode 83 - If you ‘can’t break it’…you must invest.

Bob DeLong was concerned about his retirement and was looking for a solution. He found that investing in apartments could create passive income. He now invests in apartments in central Texas. He is a managing member and a passive investor in several hundred apartment units.

Bob believes that the Austin ‘Class C’ apartment market is incredible or insane. Demand outstrips supply…rents are going up and occupancy is at 98%. Bob has properties in Austin and San Antonio, Texas. Prior to getting into apartments, Bob was in the engineering and construction business for over 35 years. He is a hands-on type of guy. His initial investment strategy was IRA’s and 401k’s until he realized he needed something more. His retirement lifestyle was in jeopardy. He was concerned that drawing out his money from a 401k, and not putting money back in, was frightening. He felt that he needed passive income to retire if he was going to live another 20-30 years. 
Bob found an apartment mentoring and education group. Bob was initially skeptical and only made some small passive investments in other peoples properties. Over a period of time and four apartment investments, Bob began to believe that apartment investing was a viable solution for his retirement with passive income. Bob believes that having the mentoring and education group, that he joined, was the ‘game changer’. He could not have done it without them because it would have taken him years of trial and error to figure it out. After being a passive investor for several years, Bob decided to become a managing member and put his own transactions together. In the podcast, Bob describes how he operates and manages his properties in central Texas. 

Bob’s contact info: bob.delong@texcelproperties.com

To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com

Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.


Did you know that when you leave a positive review on iTunes it improves our ranking and helps us recruit great guests ? Can you leave us a positive comment at the Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles ? Click here to leave a review on iTunes

ASK MIKE MONDAYS - Can you make money; if you buy a SMALLER APARTMENT building? What are some of the RULES OF THUMB for employees per unit?

Smaller buildings can typically be more challenging to staff and then push payroll expenses over less units. Owning apartments is a scaleable business. Mike explains some of the rules of thumb on how many units you need to own to hire a manager and maintenance person and some of the solutions that are necessary to make money on your investment.

Episode 82 - They are all still friends after buying a 142 unit apartment building together

Friends for over 17 years; Boris, Oshi, Leonid & Albert currently live in Northern California and now own 200 apartment units in Dallas, Texas. How do hardware designers that live over 1700 miles away, find, own and operate apartment buildings? Boris chats with James on how they found their first 55-unit apartment property and how they managed a $300,000 rehab project from a long distance. After the rehab, the partners were able to increase rents by over 30% a unit. They increased NOI dramatically, thus increasing value. They did not syndicate this deal. They only used their own personal funds.
The next purchase was a 142 unit- Class C property in Arlington, Texas. They purchased a slight value added property. They had to assume the current Fannie loan and apply for a “second lien” supplemental to get total leverage up to 75%. Wow! That was a tough one. They had only owned their first property for a little over a year…and now they were going to double the size of their portfolio. Fannie had to get comfortable with the new sponsor and their management company. Fannie knew the seller (they liked his long term ownership experience) and now we had to convince Fannie to substitute them with a new “limited experience” buying group. Yikes!! We got it done. 
The guys explain on how they are educating potential multifamily investors in the Bay area. They run a successful MEETUP GROUP in Las Gatos, California. They believe MEETUPS are a great ways of bringing investors together.
Advice to new apartment buyers…make sure you have the correct rehab amount needed upfront when applying for a loan…and never think you can take it out of cash flow. Have more money; than less. It’s always easier to return investors’ money- than having a capital call with your investors. 

To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com

Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.


Did you know that when you leave a positive review on iTunes it improves our ranking and helps us recruit great guests ? Can you leave us a positive comment at the Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles ? Click here to leave a review on iTunes