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.
In structuring transactions; there are somethings you can do and not do…per the IRS guidelines. Michael discusses some of the in’s and out’s of doing a TENANTS IN COMMON structure.
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.
No credit, No job, No liquidity is not a great way to start as a deal sponsor. The most challenging could be credit. Michael gives some insight on mitigating credit issues that some apartment deal sponsors have found themselves with in the past.
Joey Tumminello with Marcus & Millichap’s Institutional Property Advisors (IPA) sells large apartment buildings to institutional buyers. Institutional buyers are REITS, insurance companies, large hedge funds and large family offices. Their groups average sales price is over $40 million. Joey chats with Michael and Paul about rookie mistakes some investors make when touring apartment buildings with the listing agent. Joey also gives you a state of the 2020 apartment market for institutional buyers. He also discusses what institutional asset managers are seeking for a yield on their investment in apartments.
To contact Joey Tumminello: jtumminello@ipausa.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.
Michael gives you an update on what is happening today in the apartment market. He reflects back on 2019 and what to expect in the future when investing in apartments. As you can imagine, finding and purchasing a value added apartment in 2020 will continue to be a challenge.
Spencer Burton helps manage a $45 billion real estate portfolio. This Ivy League graduate is a gate keeper to one of the largest real estate groups in the country. He and his team help determine whether their group should invest in a specific real estate opportunity. As you can imagine, those determinations are done through careful analysis and with lots of responsibility. Do you wish you could see his models? Or…even use his models?
Spencer and his business partner, Michael Belasco started the website ADVENTURES IN CRE. This dynamic and always updated website offers investors the same ‘sizing models’ that he uses professionally. Lane and Spencer discuss why having the best financial modeling system will make you look smart to your investors and enhance your skills in making a buying decision.
To contact Spencer Burton: adventuresincre.com
To contact Lane Beene: Lane.Beene@pilot-legacy.com
Michael discusses future acquisition strategies with an apartment buyer. Michael has concerns about ownership focus and time management when looking to diversify into other markets. Most larger apartment markets have buying opportunities within their markets. Unfortunately, many potential buyers don’t focus on a specific market to get an in-depth relationship with listing agents, local management companies and vendors (HVAC, plumbing, electrical) and tend to bounce from one market to another. That can be challenging for apartment operators that need efficiency.
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