Episode 138 - New Construction - This family BUILT over 800 apartment units. Learn how they did it

Can’t find the RIGHT apartment building to buy today?
Did you every consider BUILDING a new apartment?

Vino & Mangesh Patel build apartments in Texas. Listen to this father and son team explain how they went from owning hotels in the 1980’s, then acquiring and rehabbing value add multifamily properties in the late 1990’s and 2000’s and now, BUILD ground-up new construction apartment structures for the last few years. Today, the Patel’s build large 150-200 unit, Class A- apartments in in-fill locations in DFW.
Their competitive advantage is their cost savings that they create in building smaller properties. They buy the land at the right price, negotiate with their construction materials vendors hard, and are usually the general contractor overseeing the entire job. By coordinating all aspects of construction, they are able to build a better product in the market place at a lower price.
Today, they are also building senior housing.
Listen to this podcast to discover what is important in building a new apartment building.

To contact Vino Patel:
vino@mphpartners.com

To receive our FREE 15 page WHITE PAPER REPORT on the 2018 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

ASK MIKE MONDAYS - 2 questions: 1) How do you figure out how much you pay your investors? 2) It seems that most syndication structures use a 5-7 year sale.Why not refinance and keep the property?

Structuring the right payout back to investors is critically important. Mike describes what waterfall criteria he uses to attract capital. Mike then discusses different exit strategies that many syndication investors can normally expect. It’s hard to “keep the band together” for an extended period; so most syndicator’s use the 5-7 year sale timeframe.

Episode 137 - Coaching and Counseling: Answering the SELLERS questions correctly

Having the highest offer price doesn’t always get you the deal. The seller needs “execution certainty”. Can the BUYER actually close on the proposed sales price? That’s the sellers worst fear that a buyer cannot close or will re-trade the original terms of the sale transaction. Yikes!!
The seller needs to pick the right buyer and take the RISK OUT. The seller doesn’t want to end up with egg on their face by failing to pick the right buyer.
But BEFORE a buyer is chosen, the seller needs to analyze and understand the strengths and weakness of every potential buyer.
During the ‘best and final’ the seller will need for you to complete the BUYERS INVESTMENT FORM. This document gives the seller a chance to ask you (the buyer) questions about your underwriting, how are you financing, what capital improvements will you make, have you underwritten to higher property taxes, and is the equity already raised. These are critical questions that the seller needs to know. The seller wants to know that the buyer has done their homework and won’t put the deal into the ditch and NOT CLOSE.
In the podcast today, we review sellers questions and handle potential answers.

To receive our FREE 15 page WHITE PAPER REPORT on the 2018 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.

ASK MIKE MONDAYS - Mike, I am doing some rental comp analysis. Every apartment comp I’m finding is different by location, size, etc. How do you determine market rents for your property?

Mike breaks down his assessment on comparing rental comps within a submarket. Becoming a student of the different apartment markets in your buying areas will help.

Episode 136 - TOP PRODUCING D/FW agents share their insight into the apartment market.

To be competitive in apartment investing you need great information. The top producing agents at ARA- DALLAS have great information on what is happening around the state. They discuss the current state of the apartment market, amenity trends and how to win a deal. Being well prepared in presenting an offer and having your team (Key Principal’s, real estate attorney, MF general contractor, lender, etc.) positioned together is critical in winning a deal. It may not always be the highest offer that wins a deal...BUT ALL sellers want to see execution certainty. Having a team formed before you offer… certainly will help your story.

The ARA- DALLAS office will close over $1.5 billion in apartment transactions in 2018. They know the market.

Jakob Andersen jandersen@aranewmark.com
Richard Furr rfurr@aranewmark.com
Bart Wickard bwickard@aranewmark.com

To receive our FREE 15 page updated WHITE PAPER REPORT on the 2018 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.

ASK MIKE MONDAYS - Michael, I am thinking of investing into a mix-use property; what do you think?

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.

Episode 135 - Over 750 units purchased in less than 5 years

Bhuvan & Pratima Sharma needed to make a change….a huge change. Unfortunately, a few years ago, most of Bhuvans’ & Pratimas’ retirement was wiped out when the company that they both worked for… filed for bankruptcy. Yikes!! They had to re-group and figure out what to do next. They concluded that buying a hard asset through real estate investing was the best idea. In less than 5 years and through apartment investing, Bhuvan was able to quit his corporate job and now has his retirement secured.
Listen to how Bhuvan and Pratima purchased over 500 units in the last 18 months. Can you do that?
Contact info: sevenseashld@gmail.com
To receive our FREE 15 page updated WHITE PAPER REPORT on the 2018 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.