With Paul Peebles & Michael Becker
The Old Capital Podcast is aimed at Real Estate Investors - both new and experienced.
Hosts Michael Becker and Paul Peebles deliver no-hype education and expert perspectives.
You will gain valuable insights from interviews with actual real life investors who are active in acquiring and operating apartment complexes. You will discover how they are identifying, financing and operating apartment complexes, as well as helpful advice on how to get started and avoid common mistakes.
Michael owns over 5000 apartment units and he still uses an independent 3rd party property management company to oversee his portfolio. Michael discusses the reasons why he doesn’t self manage. Also, Michael examines what an apartment ASSET MANAGER does for the partnership.
In the Midwest, around this time of the year, many apartment owners face the risk of bad weather that can destroy your asset. Darwin German’s 161 unit apartment building was recently hit by a tornado. It destroyed the roof on two buildings and affected 14 units. Fortunately no tenants were killed or hurt. We discuss what he did when he originally got the call that the tornado hit and now his plans on the rehab.
In the second part of the interview, Darwin explains language in his bank loan documents. Darwin refinanced a large apartment building with bank financing. The language in your loan documents is important. When you borrow money, the lender will have language and covenants that will always be slanted protecting the lender in case of default. Darwin goes through his bank loan documents and highlights some of the language that he and his attorney pushed back on with the lender. Having a seasoned “contracts” attorney to represent you in negotiations with the lender will help in your success.
To contact Darwin: darwin@darwingerman.com
https://www.darwingerman.com/
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Bruce and Stephanie Petersen have purchased over a 1000 apartment units in the last few years, but they would not have done it unless they had a mindset change. The change was from being a W-2 employee to a real estate entrepreneur investing in apartments.
For over 18 years, Bruce was a hard worker in retail sales; often working over 80 hours a week and savings his money. He knew that there was a better life out there. After participating in a multifamily education and mentoring program; he got the confidence to start buying apartments.
Stephanie discusses her journey from being a former single mother and owning a few single family rental properties to becoming a key decision maker in a large apartment portfolio and what she does to advocate for her tenants to make a true sense “of community.”
To contact Bruce or Stephanie Petersen: APT-GUY.com
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Mike discusses a large line item expense…property insurance. After property taxes and payroll, property insurance is an every increasing expense that sponsors must recognize sooner than later.
Protecting your asset is critical in your success. You must have insurance to cover POTENTIAL problems.
Jeff King has been advising apartment owners on insurance matters for over 35 years. Ramey King Insurance was established in 1881. He “knows a thing or two, because he has seen a thing or two.”
Jeff discusses several topics: 1) What items do you need to get insurance quoted? 2) What coverages are necessary for the lender? 3) How much is the typical deductible? 4) What happens when you have a claim and how long before I get paid? 5) What is a master-insurance policy? How does that work?
6) Should you require a tenant to have ‘renters insurance?’
To get in contact with Jeff King: RameyKing.com or info@rameyking.com
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
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.
Emily Cortright and Adam Roberts were corporate folks. They went to the right schools, (Ohio State and Penn State) lived near the ocean in southern California, and both worked for the right company (General Electric- Aviation); everything was great-UNTIL…GE sold their division and they were going to get downsized or transferred. They began to look for additional income options to support their lifestyle. They attended an educational class on real estate investing. After spending a weekend in the class… it was an epiphany moment- a change of mindset. They wanted to become investors. In the podcast, Emily and Adam take us on the journey from a corporate wage employee to an apartment investor. They show us how they educated themselves on apartment investing and teamed up with an experienced investor to buy two large buildings in Texas.
To contact Adam & Emily: emilycortright@kw.com or adam@aehomebuyers.com
Visit their website at: AEMULTIFAMILY.COM
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
