Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles

Grant Williamson is a commercial real estate appraiser for BBG. He just received the prestigious MAI designation from the Appraisal Institute. BBG is a nationwide commercial real estate valuation and advisory company. Grant's group appraised over 350 apartment properties in the Dallas area in 2018. BBG appraised over 10,000 nationwide. Grant explains to listeners what an appraisers' role is within the transaction and what to expect. He expounds on cap rates, amenities that he is seeing that increases value, and where the best sub-markets are in Texas. To contact BBG: BBGRES.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.

Michael sheds light on the various restricted language sometimes found in the loan documents that lenders will add or subtract based on the sponsors apartment ownership experience level, past repayment history with the lender and size of the loan transaction. Also, Michael gives another reason why investors like real estate investing. HINT: Great Tax Advantages.

Every quarter in 2019, we will feature an in-depth conversation with a loan decision maker. Today we focus on underwriting guidelines with Fannie Mae. SVP, Chief Credit Officer- Jon Banyard and VP, Production- Fritz Waldvogel, both with Dougherty Mortgage, help you understand the benefits of working with a Fannie Mae lender. Fannie Mae offers non-recourse, longer term, permanent financing on stabilized apartment properties. Dougherty is a licensed Fannie Mae DUS lender-only 25 in the country have this delegated loan approval authority- from Fannie Mae You want to understand how building a long-term partnership with Fannie Mae will help you build your apartment portfolio quicker. Remember, in certain circumstances, up to 80% of the transaction could be funded by your Fannie Mae lender; isn't it important to know what the specific guidelines are?

Michael explains what he is seeing when raising capital from investors.

James Eng recently listened to a panel of experts who buy and sell online Amazon businesses. The entire time he was listening, he couldn't help but see the similarities to multifamily investing. While these businesses sold different products from nutritional supplements to deodorant, there were some lessons from these entrepreneurs brought to the table that corresponds to you as you run your multifamily investing business. You want to listen to this podcast! To contact James Eng: [email protected] 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.

Buying a large apartment building is NOT a NO CASH/ NO NET WORTH/ NO CREDIT business model. The lender needs to see the depth of your balance sheet. Your lender is going to loan you thousands of dollars and wants to make sure that they are comfortable with your balance sheet. Michael breaks down what typical apartment lenders need.

Jack Langenberg and Tom Lafferty are business partners in a 154 unit apartment building. Jack came from a corporate background and has a Harvard MBA; Tom is a local firefighter. These two guys play to each other strengths. These team mates had to assume the current loan on the property. If they did not assume the loan, they would have paid hundreds of thousands of dollars more in price. They also applied for a supplemental loan (second lien) from the current loan servicer. They wanted to get the highest leverage possible. James discusses some of acquisition risks you may incur; IF THE SELLER takes their foot off the gas with occupancy and net rental income falls. To contact Jack Langenberg: [email protected] To contact Tom Lafferty: [email protected] 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.

Michael enlightens apartment buyers that OFF MARKET transactions are like capturing unicorns. Social media has created some perceived OFF MARKET opportunities in chat rooms and on Facebook, but in reality, it's a waste of your time. Focus on making the relationships with the real estate brokers in your market.

Bryan Amos has assisted hundreds of apartment investors in their physical due diligence. He is your advocate. He is the apartment inspector/ engineer that you rely upon to make sure the plumbing, electrical, roofing systems are going to work AFTER you buy the asset. For the last few years, he wanted to buy an apartment building for his family. He knew he wanted to buy a property that needed updating, was in a good submarket, and was also already stabilized. He found a 310 unit building. Unfortunately, he couldn't buy it by himself. He was going from owning zero units to potentially owning 310 units. To do that…he had to assemble a team of strong partners. Bryan discusses his journey to find those partners and the strength that all of team members provided to make it happen. To contact Bryan Amos: [email protected] 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.

Michael gives us feedback to a YOUNGER apartment buyer on what they should focus on when entering into the apartment ownership business.

The institutional apartment buyer is at the top of the food chain. These equity buyers are typically pension & fixed income funds needing monthly cash flow for their investors. They place sizeable equity amounts into large, newly built, urban or suburban apartments throughout the nation. The institutional buyer typically buys the new construction project from a real estate developer. Instead of syndicating a transaction, the institutional apartment buyer brings all the equity. The institutional investors have a very structured discipline in their investment analysis. Jorg gives us details on what the institutional apartment buyer is seeking. To contact Jorg Mast: [email protected] 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.

Michael discusses a recent article written by economist Jim Gaines with Texas A & M University Real Estate Center.

Michael examines the state of the apartment market and discusses an interesting article that Freddie Mac provided. Please read: https://globenewswire.com/news-release/2018/10/17/1622867/0/en/Struggling-with-Housing-Costs-Renters-Continue-to-Find-Affordability-in-Renting.html

Jake Stenziano and Gino Barbaro came from different backgrounds before they bought their first apartment building. Jake was in medical sales and Gino owned a restaurant...BUT both wanted to be real estate entrepreneurs. Using their own money...they began to acquire, rehab, and stabilize apartment buildings. Today, they have a thriving business that owns over 1000 units in Tennessee and Kentucky. The Jake and Gino Podcast advocates to investors that you will be successful in apartment investing by buying right, managing right and financing right. Make sure you listen to their podcast. 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.

Michael discusses the different reports that a management company should be providing to the managing member every month. Obviously, it is better to overly communicate with investors and partnerships with detailed monthly operating statements.

Rebecca Miller, with Quest Trust Company, discusses the advantages of having investors use Self Directed IRA's for investing in apartments. A self directed IRA is one that permits the account owner to invest their IRA in what they know best, free from the investment restrictions imposed by a more traditional brokerage style account. This allows your passive real estate investors to use their IRA's to invest in your deal. There are rules that must be followed; Rebecca Miller explains. 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.

Top Producing Apartment brokers, Taylor Snoddy and James Roberts discuss challenges and opportunities when selling apartments. Taylor and James and their team members will do over $1 billion in apartment transactions in 2018. They focus on workforce housing in the Texas market. You want to get to know these top producing agents. 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.

In 2008, Satya Masina transferred to Texas. Unfortunately, he could not sell his family townhome in New Jersey. After months on the market, he decided to rent the property. It immediately had a tenant and a new rent check coming in every month. The property was paying for itself. Satya became an accidental landlord and loved it. He decided to purchase more investment properties. Satya now owns almost 150 units. Listen to how he did it. 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.

A coaching and counseling session with James Eng. James gives listeners an overview of the macro-economic assessment of what is happening in today's apartment & capital markets. He references Howard Marks most current investor memo called: The Seven Worst Words in the World. Mr. Marks is the Co-Chairman of Oaktree Capital Management. Oaktree Capital manages over a $122 Billion in assets. Warren Buffett always looks forward to reading his investor memos. You want to read this memo! https://www.oaktreecapital.com/insights/howard-marks-memos James offers feedback to the listeners on comments made at the most recent Marcus & Millichap Conference in Dallas focusing on apartment investing. 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.

A special loan officer roundtable discussing the recent impact on borrowers, loan amounts, and additional equity needed when interest rates rise quickly. When interest rates rise during the 45-60 loan approval process it can have a dramatic impact on the final loan amount. Interest rates rise…loan amounts fall…significantly. James Eng & Dave Walls explain what can happen on Fannie Mae and Freddie Mac loans and what you should know. 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.

Over the last 28 years, Darwin German has owned and managed thousands of apartments. Darwin discusses the crazy stories of tenants, drug dealers, sellers, fires, and surviving in apartment ownership. After you purchase your first transaction… you will have a few stories yourself to share to investors and friends. To contact Darwin German: [email protected] 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.

website. 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 Are you interested in learning more about how Multifamily Syndications work? Please visit to learn about Michael's Real Estate Syndication business with SPI Advisory LLC." data-userid="692180986067419136" data-orgid= "692180986695241728">You're invited to our next NorCal Apartment Investor Network! HIGH POWERED WOMEN BLAZING NEW TRAILS in REAL ESTATE. Are you a high powered woman in real estate? Or maybe a proud husband, father, friend, or family member? Or perhaps you're a super star in the making and looking for a little inspiration? Then you don't want to miss our next NorCal AIN meeting featuring a guest panel of some of the biggest and baddest women we know who are blazing new trails in the multifamily industry. Hear them share their personal stories of what it takes to be GREAT. Kathy Fettke- Headlining as Guest Moderator It's a woman's world; at least it will be on Thurs, Oct. 25 in San Mateo, CA. 6.30pm at the San Mateo Marriott San Francisco Airport in San Mateo, CA. RSVP at the OldCapitalPodcast.com website. 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.

Michael gives a high level breakdown on what you should focus on when presented with a potential real estate opportunity. Do not go into great analysis on every deal…you are just wasting precious time. Listen to what is important on the initial deal review.

Boris, Oshi, Albert and Leonid are business partners and have been buying apartment buildings for the last few years. By the end of the month, they will own almost 800 doors. They first started off buying single family homes in 2010, but felt drawn into apartments because of scalability. As you can hear, these guys were not born in the United States; they came to Silicon Valley less than 20 years ago. Today, two of the partners, have decided to retire from the high tech industry and are pursuing apartment investing full time. Listen to how they are following their American Dream. Can you do this? To Contact Wealth Grow Investments: [email protected] 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.

Every buyer's worst nightmare is a seller unable or unwilling to close AFTER you have spent thousands in pursuit costs. Michael discusses what remedies could be used for seller defaults.

Perhaps, on purchase, you should consider changing the name of the property. Michael discusses some of the reasons why he has rebranded some of his assets.

John Ridgway and his Celtic Realty Advisors won the 2017 National Apartment Association award for BEST APARTMENT IN THE COUNTRY for his Grove on Gladstell Apartments. This 52-unit apartment building in Conroe, Texas beat out thousands of apartment ownership groups throughout the country. He transformed a 1972 dilapidated class C- property to an updated B with contemporary charm. Could you do what John did? John began his career in apartment management 30 years ago. After making other folks rich, he transitioned into apartment ownership. He has owned over 1000 units. Today, with his invaluable experience in apartment ownership and management, he is a mentor and educator with LifeStyles Unlimited. John gives back to fellow apartment investors and is committed to making others successful with his specific industry knowledge. To contact John Ridgway: [email protected] 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.

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.

The Old Capital Podcast is on the road in San Jose at the Northern California Apartment Investor Networking group. The guys take questions from the audience about the status of the apartment market. This podcast will give you an insight on what's happening in the apartment investing market today from a large apartment operator and a commercial mortgage lender. To join the APARTMENT INVESTOR NETWORK: https://www.facebook.com/apartmentinvestornetwork 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.

Michael discusses the opportunities and challenges that deal sponsors must consider IF they want to offer equity investors a preferred rate of return on their investment.

Hans Box is a talented, top producing commercial loan officer for Old Capital; but also is an investor and a CPA. Hans has been a deal sponsor or a passive investor on many real estate transactions over the last few years. Hans shares his experience in real estate investing and breaks down some common jargon into easy to understand terms. Hans also coaches passive investors to be proactive with deal sponsors. He wants you to recognize that you are making an investment not only on the jockey (deal sponsor) but also the horse (the apartment building). Can the deal sponsor clearly articulate what the goal of the transaction is all about? Are they buying a value-add property or a yield property? How much rehab is needed? What is the expected rate of return? When can I expect a return on my investment? How much "skin in the game" are the deal sponsors co-investing into the transaction? What CAP rate are they using on the sale? Listen to this comprehensive discussion on how passive investors make money in apartment syndications. To contact Hans: [email protected] or [email protected] 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.

Are you looking to invest into an apartment syndication? Most syndicators or deal sponsors will have a PRIVATE PLACEMENT MEMORADUM detailing the risks involved in investing in an apartment transaction. BUT, when listening to the deal sponsors pitch, you must ask a few questions also. Michael explains some of the simple questions that passive investors MUST ask the managing member or deal sponsor. Your money is important to you; so you need to understand the deal sponsors past track record in apartment investing, the economics of the deal story, when is your money going to be returned and what is the expected rate of return on the investment, and finally what level of rehab or renovation will be needed to increase NOI.

Rick Stilovich has been a commercial real estate broker for over 30 years. He represented OTHERS in purchasing and selling all types of commercial real estate. He made many of his clients very rich in real estate ownership. After retiring from real estate sales a few years ago, it was NOW time to focus on his own financial goals. Rick wanted to buy apartments for himself and his family. He wanted to buy a much larger apartment building than what his personal balance sheet dictated. He found that syndicating a transaction (raising equity with others) gave him the ability to buy a 64 unit building in Denton, Texas. Rick discusses the journey to get him into the position to buy a building. To contact Rick: [email protected] 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.

Michael explains to a potential apartment buyer on what is important in the operating statement. Do you look at the trailing 1, trailing 3, or trailing 12? What is important? Michael talks about the importance of analyzing the trend line of income and expenses.

Ryan Wehner manages over 19,000 units in Texas and Oklahoma. His third-party property management company provides the day to day management of apartment properties. Ryan discusses the reasons to have a management company oversee your asset. Ryan then explores the state of the apartment market in annual rental growth and what to expect in the future. On the expense side, Ryan is seeing increased expenses in property taxes, insurance and employee costs. He gives an example on the benefit of being a landlord in Texas. The eviction process is much easier than many states. If you "don't pay…you don't stay"…it is one of the advantages of owning real estate in Texas. Ryan then explains the benefits that some property management company's can offer…a master insurance policy. Michael uses a master insurance policy and the savings that can be achieved. Ryan discusses the line item expense of water costs. Water cost can be a huge variable expense; from tenant usage and leaks. Carl Wehmeyer is with Niagara Water Conservation. Niagara fights the war against water waste. Carl explains how a simple phone app can save thousands of dollars in water waste on apartment properties. The on-going water monitoring has helped clients save money. 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.

After reviewing the initial underwriting and if you think it works for you and your investors…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 property with the listing agent.

Are you interested in learning more about how Multifamily Syndications work? Please visit to learn about Michael's Real Estate Syndication business with SPI Advisory LLC." data-userid="692180986067419136" data-orgid= "692180986695241728">Not all commercial loan officers are created equal. One size does not fit all. You need to have the best advocate for your lending transaction. In the podcast today we have another episode of "Coaching and Counseling with James Eng." James provides you with 10 questions that you MUST ASK your commercial mortgage loan officer BEFORE you engage with them. Your money and reputation are at risk if you choose the wrong loan officer. Here are a few questions that you must ask: 1) What is your background in financing apartments? 2) When will I receive approval? When can I lock the interest rate? 3) How many loans have you closed with this lender? 4) What happens if my loan is denied; what options will I have? 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.

Wow! When trying to buy an apartment building… don't fall into some rabbit holes. Pursuing single family MARKETING strategies do not typically work when trying to FIND a multifamily property. Michael explores some common marketing fallacies of transitioning from SINGLE FAMILY to MULTIFAMILY.

Your lender brings a huge amount of capital to your transaction. They are a critical member of your success team. You need to understand what's important to the lender and how they will structure your loan. In today's podcast, we sit down with a few team members of Old Capital and discuss what's new in the capital markets and what you need to know. Items discussed: 1. Fannie Mae Pricing Waivers- for the last few years, Fannie has been generous in reducing their posted interest rates to good clients. Today, Fannie Mae is not too anxious to offer lower interest rates to new and inexperienced borrowers at the highest loan leverage. 2. Term Sheets vs. Final Loan Commitment- Some lenders are not fully underwriting the loan transaction upfront and issuing false term sheets. They propose loan terms that are not even close to what the final loan commitment will eventually be. Don't fall for that, always ask for your lenders underwriting analysis upfront and find out how they view the transaction. Fannie's underwriting criteria is pretty much the same from DUS lender to DUS lender…so term sheets should be very similar. If not, then look into their underwriting. 3.During the loan process, be prepared to bring in additional equity if the seller does not increase the property's NOI. Unfortunately, many sellers don't realize that the buyer's lender needs to see positive NOI during the loan process. Do not have the seller take their foot or the buyer will need to bring in additional equity to close. 4.Always ask for the sellers 5 YEARS- INSURANCE LOSS RUN upfront before you go hard with earnest money. You need to find out if the seller has filed any insurance claims against the subject property. One claim should not increase premiums…but several claims can push up insurance premiums and will reduce your loan amount significantly. 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.

You may have to look at several apartment opportunities BEFORE you find the right one. The ability to underwrite a transaction quickly will help you make swift decisions on whether to pursue with additional analysis time or drop the deal. Mike discusses the specific documents the seller needs to provide you to analyze the transaction correctly.

Trying to acquire an apartment building today can be challenging in this hyper competitive market. Perhaps you need an alternative property type to consider. In today's podcast we explore industrial warehouse investing. Tim Veler is an industrial warehouse sales & leasing associate with Transwestern in Dallas. He assists investors in buying industrial warehouse properties. Industrial warehouse tenants can be furniture manufactures, printers, import' export distributors, fabricators, logistic companies. As the landlord of an industrial warehouse building; you typically have less tenants and longer leases. Tim describes the similarities and differences with owning an industrial warehouse property to an apartment building. Listen to what is important in industrial warehouse investing. To contact Tim Veler: [email protected] 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.

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. So…be careful in speaking to the appraiser, if you haven't confirmed those improvements. The appraiser is going to need the most updated T12 and a current rent roll. They may want to see your PROFORMA on the new property taxes and other expenses and make sure that it looks reasonable.

A few years ago, Ed Faukner bought a new house for his growing family to live in. The day after they moved in…his wife informed him that she HATED the house and wanted to move. Yikes! Instead of selling they rented it out. That was his first experience with owning rental real estate. He was terrified with having someone else live in their home. After a while, he got comfortable with owning rental real estate and bought a duplex. He eventually sold it and realized a large gain. He was hooked. He wanted to buy more units. Ed wanted to start with small steps in buying rental property. With a partner, he bought a 10 unit building. He has learned a lot in a short period of time. His biggest lesson is BIGGER IS BETTER in MULTIFAMILY. He learned that economies of scale were important in multifamily. His next transaction was a much bigger property with 44 units. Ed's journey is typical of many real estate investors…he took baby steps from a single family rental , then a duplex, to a 10 unit, and now… 44 units. Could you do this? To contact Ed Faukner: [email protected] 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.

Buyer brokers are not common in multifamily. If you are fairly new into apartment investing, you should have a buyer's broker represent you. If you are a seasoned apartment buyer, buyer brokers are an extension of your team and will add value. They are out looking for specific transactions that meet your vision. As a general partner you should be focused on 1) raising new equity, 2) finding new transactions. Buyer brokers can assist you in finding the right transaction.

Brad Sumrok is the Apartment King. He is the 2012 National Apartment Association's "Apartment Owner of the Year." He owns thousands of apartment units, but his passion is teaching and mentoring apartment investors. This Carnegie Mellon graduate has helped hundreds of investors earn double digit returns on their apartment investment and retire early. Brad is an apartment mentor and educates students the 'how' in buying large apartment buildings. If you are transitioning from single family to multifamily, you need specific education on how these transactions are put together. One critical mistake in apartment investing can cost tens of thousands of dollars. Shouldn't you speak with an apartment mentor? To get in contact with Brad Sumrok: bradsumrok.com Facebook: Brad Sumrok's Apartment Mastery 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.

Coaching and Counseling with James Eng. Today on the podcast, James discusses the importance of networking at LIVE APARTMENT investing & educational themed events. You want to accelerate your knowledge level? Start attending apartment investing conferences, local apartment investing Meetup's, and join a apartment education/ mentoring group. If you are new and just getting into the Multifamily Business...you must expend the energy and go out and meet your future investing partners, listing agents, and bankers at live networking events. They are not going to come to your house or office. James gives some examples on where you can go to network with other LIKE MINDED individuals. Why attend LIVE events? Sponsors have two jobs. 1) Identify investing opportunities and 2) raise equity. Also, by attending LIVE events you can network with listing agents, other sponsors and deal makers, and bankers to uncover current data on the market that you won't read online. 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.

Today we revisit with Bonnie & Kerry Staples. Bonnie & Kerry loved their corporate jobs. They were well respected within their companies, but knew they were building someone else's dream and not working on their own. They were originally drawn to real estate through single family investing, but after seeing the bigger picture on scalability, they wanted to invest into apartments. They hired a mentor/educator to accelerate their specific knowledge of apartment investing. We originally spoke with them 2 years ago after they purchased their first building. They bought of a 106 unit apartment building called Casa Flores. After 18 months of rehabbing and making it into a "community"…they sold that building and rewarded their investors with a huge return. Now, they own 3 large apartment buildings; Bella Vida with 255 units, Fairmeadows with 200 units, and Spanish Timbers with 160 units. They quit their jobs in the last 2 years and work on real estate investing full time. They have the passion to make older apartments into better communities. Today, they are in charge of their own apartment business and working on their dream. To contact Bonnie Staples: [email protected] 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.

Upfront physical due diligence is critical when purchasing any apartment building. Have your engineer/ general contractor review all components to the apartment. Not reviewing deficiencies with your electrical, plumbing and sewer, foundation and roof can be the iceberg that sinks the investor's ship.

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: [email protected] 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