Episode 188 - Purchased THREE apartment buildings and then… QUIT HIS JOB. Can you do that?

Alex Clark has purchased 113 apartment units and loves being in charge of his own destiny.
Recently, Alex quit his high technology job and now invests in multifamily full time. It just didn’t happen overnight, Alex had a game plan. About 20 years ago and while in college, his car’s transmission went out during afternoon rush hour traffic in Dallas. Unfortunately, he and his car were broke; very broke. On the side of the road, he had a visualization of what his life should be like in the future. He dedicated his life to finding a better way. He explored different options for success. He tried saving money, investing in stocks and bonds, buying gold…BUT he absolutely felt in control of his destiny by acquiring investment real estate. Listen to Alex’s journey from buying his first 18-unit property to his most recent 71-unit. He is 100% focused on helping apartment investors and his communities. A great story of achievement!

To contact Alex Clark: clark@1791.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.

ASK MIKE MONDAYS - Mike, you have motivated me to buy apartments. I want to be like Michael Becker…What are the STEPS? Education (Episode 1 of 5)

Michael discusses a simple checklist to apartment investing success. Education is number one!
Learn about what you’re investing in. Mentoring and education programs are an excellent way to gain knowledge quickly. BUT…Listening to podcasts on apartment investing or joining apartment investing Meetup groups in your area can also help increase your awareness.

Old Capital Bonus Segment 2: Command Authority with Lane Beene - “Have YOU defined your APARTMENT INVESTMENT STRATEGY and IDENTIFIED YOUR REAL ESTATE MARKET?

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years, he started with one single family home and turned that into a large multi-million dollar apartment portfolio…all during the time he was serving in the military. He is direct. He is smart. You need to listen to him if you are new to real estate investing.
You wouldn’t build a home without a set of plans. How do you invest in multifamily without a plan? You need a written strategy. Today, Lane challenges you to create your initial multifamily investment “blue-print.” Also, Lane wants you to understand that identifying a property in the ‘right’ location or market is equally important to your success.

To contact Lane Beene: lane.beene@pilot-legacy.com

ASK MIKE MONDAYS - Michael, interest rates are incredibly low; should I lock in a long term fixed rate or an adjustable rate? What would you do?

Michael explains that todays low rate environment can benefit many apartment buyers with lower debt costs, BUT will exponentially increase the yield maintenance prepayment penalty costs for sellers. Lower rates may mean more loan assumptions in the future to avoid the yield maintenance cost.

Old Capital Bonus Segment: Command Authority with Lane Beene - “How to become a BETTER MILLIONAIRE with ‘FOUR’ doors.”

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years, he started with one single family home and turned that into a large multi-million dollar apartment portfolio…all during the time he was serving in the military. He is direct. He is smart. You need to listen to him if you are new to real estate investing. He guides you through his real estate decision tree. He examines the ‘4’ doors that will have an impact on how you size up a real estate investment.
To contact Lane Beene: lane.beene@pilot-legacy.com

ASK MIKE MONDAYS - Michael, you own lots of apartments…why don’t you self manage?

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.

Episode 187 - Your property is hit by a TORNADO…now WHAT DO YOU DO?

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.