Preview Mode Links will not work in preview mode

Multifamily Legacy Podcast

Oct 9, 2019

How do you source deals to grow your multifamily business to own 6,000 units in just six years? It’s all about relationships! 

I’m talking to Michael Becker, principal at Strategic Property Investment (SPI) Advisory. He handles all aspects of property operations, from accounting and asset management to capital improvement/renovation projects and taxation.

Topics on Today’s Episode:

  • Borrower vs. Lender: Michael’s transition to finding his own multifamily deals
  • All Work, No Play: Michael’s motivation to experience life before it’s too late
  • Principal Perception: Build and leverage relationships and capital for projects
  • Property Process: Assemble team, balance deals with loans, and run projects
  • Lingo and Language: Education comes before building, establishing relationships
  • How to source a deal? It’s all about the relationship and getting to know others
  • Biggest Risk for New Operators: Being under-capitralized for long-term holds that impact cash flow
  • Crystal Clear Role: Make money by finding deals and money; everything else is noise
  • Go with Your Gut Feeling: Even if you need the money, walk away and say, ‘No!’
  • Get Real to Grow: Know where you are, what you know, where to start, and who you know to win deals

Links and Resources Mentioned:

Quotes by Michael Becker:

“I had a lot of relationships. I had a lot of experience. I just wasn’t using those to the best of my capability.” 

“I get to spend a week in Germany going to Oktoberfest in lederhosen with some of the most powerful apartment brokers in Dallas and Fort Worth.” 

“It’s really simple. People do business with people they know, like, and trust.” 

“The way that you make money is to go find deals and find money. Everything else is noise.”

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.