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

EPS 312 - Meet the “SUPERHEROS” of COMMERCIAL REAL ESTATE LENDING: RECA. Oct 29, 2024

It’s a loan officer roundtable with the top producing commercial real estate bankers with RECA. The Real Estate Capital Alliance (RECA) was formed by a group of boutique real estate capital advisory firms with offices in major metropolitan markets and clients across the U.S. Collectively, the group consisting of 18 member firms and more than 85 originators have collectively sourced over $40 billion in debt and equity since the Alliance was formed. Do you want to know how to finance your industrial building? Call a RECA loan officer. How about getting a second opinion on how to structure a multifamily transaction? Call a RECA loan officer. They have provide good advice. To contact a RECA member: reca.us To contact Scott Duntley: scott@balboafinancial.com To contact Scott Lynn: scott@cacherc.com To contact: Andrew Kaeyer: akaeyer@hunnemanre.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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 311 - The ZERO to ONE Challenge. Buying your first large apartment building. Can YOU do this? Oct 17, 2024

Anita Wong, and her husband William Liu just bought their first, large apartment building in Texas. Their journey began 24 months ago when they decided to scale up. They had owned a few single-family, short-term rental properties scattered in different places, but now they wanted to buy a larger apartment building that could employ an onsite manager & a maintenance person. They needed help. What would you do? Listen to Anita & Will explain their journey in buying a 76-unit apartment building. They faced challenges as a new apartment investor & syndicator. Example Obstacles: 1): Building creditability and reputation, 2) Finding the right deals & building relationships with the right people, 3) Having the right support infrastructure in place when you find a deal…that works. Anita & Will give you insider points on how they did it. To contact Anita Wong: Anita@GiveRiseCapital.com To contact with Ashley Cao: ACAO@OldCapitalLending.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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes

EPS 310 - YOU HAVE TO LISTEN TO JACK COHEN. Period. Oct 02, 2024

Jack Cohen is a legend in commercial real estate. He is the DARK KNIGHT in commercial real estate. He was the former CEO of Cohen Financial for 25 years. Cohen Financial was one of the largest commercial real estate lenders in the nation. Jack chats about his 40+ year history in commercial real estate investing and lending. He brings interesting questions to the table: “When investors look at their investment processes, as well as the investments that they made during 2019-2024, what have they learned? What worked? What would they have done differently? ALL of us backed projects and sponsors during this period that ultimately played out very differently than we thought. Some played out better, some played out worse, than we thought. What can we learn from this? Can we finally agree that cash flow matters? That our space – Commercial – is defined by income producing real estate. That means we actually must underwrite tenants’ capacity to pay rent as well as a sponsor’s ability to manage expenses properly. SOFR has gone up and today the marketplace is mostly financed with short term floating rate loans. Did we not learn this lesson in the 1990’s with the failure of Long-Term Capital Management? The punchline is to match duration of assets with liabilities. Borrowing short on a long-term asset has its risks.” WOW!! To contact Jack Cohen: darkknightventures.net 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes

EPS 309 - Top Apartment Owner/Sponsor Mike Ochstein: 40 years of knowledge explained. Sep 30, 2024

Mike Ochstein has been buying/owning/managing apartments for 40 years. He has purchased thousands of units and currently owns 5500 units. Ochstein gives a great perspective on how you should invest; not for the short term…but the long term. He owns in Dallas, Austin and Houston. He has never had an investor lose money. Ochstein “retired” a few years ago from buying apartments…because cap rates were too low. Today, Ochstein is back and ready to buy. Listen to what an experience investor believes and what you should know. To contact Michael Ochstein: PriceRealtyCorp.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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes

EPS 308 - Where do you make money at these days? War Fighter and Top Apartment Broker; Mark Allen chats about the North Texas market. Sep 25, 2024

Mark Allen- Executive Managing Director of GREA- has sold over 150 apartment buildings in North Texas. YOU want to know Mark...IF YOU WANT TO BUY APARTMENTS. Mark discusses the number of transactions that have closed in North Texas. It also chats about the limited inventory that’s available today for apartment buyers…and where he sees the investing opportunity for tomorrow. A graduate of the United States Military Academy at West Point, where he also played football, Mark served as a Field Artillery Officer in the US Army, leading soldiers in Operation Enduring Freedom in Afghanistan. To get in contact with Mark Allen: mark.allen@grea.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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: “Will the ½ point FED cut… going to help apartment investors?” Sep 23, 2024

Just last week the Federal Reserve lowered their short-term rates by 50 basis points. Michael discusses what investors can now expect. It’s been 420 days since the last hike. Over the last few months…many general partners have been waking up in a sweat at 3am and reliving a bad nightmare of higher debt payments on their bridge loans. Today, with the rate cuts…hopefully, they can start sleeping through the night. 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: Can these LOWER RATES stimulate apartment investors to buy more properties? Aug 07, 2024

Michael and Paul chat about how these lower interest rates could impact apartment investing. The 10-year treasury in May, hit a high of 4.71%, today we are at 3.90%. Could these lower mortgage rates bring investors back into the market. Michael talks about the HEADLINES of what he is seeing today in apartment ownership and investing. 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: Are we finally at the bottom of the cycle? May 07, 2024

For some apartment investors it feels like we are at the bottom or close to the bottom of the cycle. What are some signs that gives that argument some validity? Mike chats about what he is seeing today with the marketing of two properties that he is currently selling.

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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 307 - Elvis, Madonna, Bono, Cher, Prince…and now meet Mauricio! Apr 25, 2024

Rockstars are known for having one name. Not attorneys. If you are currently an apartment investor…you know his name or have seen his YouTube videos. If you are not…you only need to know one name…Mauricio. Mauricio Rauld is a securities attorney with Premier Law Group. He advises entrepreneurs in scaling their business by raising capital through real estate syndications…legally! (bottom line…He keeps you out of jail) Mauricio discusses his new book, “Legal Strategies for Everyone.” You want to get a copy, read it and share with a family member. To get in contact with Mauricio: https://www.premierlawgroup.net/ Instagram: https://www.instagram.com/mauriciorauld/?hl=en 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 306 - The “Legend” CHARLIE YOUNG, with Madera Residential, sure can tell a story. Apr 06, 2024

Do you think a guy that has bought over 120 apartment buildings could teach you something? Yes…that’s 120 buildings, not units. Madera Residential is one of the largest and most active apartment buyers in Texas. You will love Charlie’s down-home charm and wisdom, but don’t let that fool you. Charlie and his team are experts in finding opportunities in today’s challenging market. They initially started with value added properties and now are investing in the best of class apartments in Texas. Sit back and be charmed with Charlie Young. To contact Charlie Young: https://maderaresidential.com/about-us 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 305 - MEET REAL ESTATE GURU- Steve Davis with TOTAL WEALTH ACADEMY. Apr 04, 2024

Do you have exposure to real estate in your personal balance sheet? Going from ZERO to ONE is the most challenging part of investing in real estate. When you start investing in apartments you don’t know- what you don’t know, right? Steve Davis and his team at Total Wealth Academy will give you the confidence to invest. Listen to Total Wealth Academy Radio Show…on lots of radio stations across the nation. To Contact Steve Davis: totalwealthacademy.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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: “DEFAULT INTEREST- A lending phrase you must learn!” Mar 29, 2024

When a property fails, and the borrower stops making payments…that’s a problem for the lender and the borrower. What you may not know- is that when you stop making mortgage payments- this will cause the lender to accelerate your interest cost. Yikes!! In your loan documents there is specific language that aids the lender by increasing your current interest rate to over 20%.... Yes…it’s a huge jump that goes from BAD to WORST immediately. 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 304 - How do you QUALIFY FOR A LARGE APARTMENT CONSTRUCTION LOAN? Who’s on your team matters! Mar 17, 2024

It seems like every other investment sales flyer we see today…offers the opportunity to buy land. Land to BUILD an apartment building. Many investors are now focused on construction. How do you finance? Should you consider a 35-40% down conventional Bank loan that is full recourse? Or should you consider a 15% down…government backed, non-recourse FHA loan with a 40-year fixed rate? Yikes! Both can come with challenges. Today, we chat with two experts in underwriting large apartment construction loans. Are you interested in learning more about how Multifamily Syndications work? Please visit spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 303 - Loan Officer Roundtable: 1st Quarter 2024- What are lenders approving today? OR… NOT!! Mar 15, 2024

So…You want to buy an apartment building? Who is your biggest financial partner in the transaction: it is your lender! Get to know your lender and what they can offer you. Know what the lender expects today and their “hot” buttons for approval. It’s completely different than 24 months ago. We will speak with the top producing loan officers at Old Capital that will explain: Who is lending today- Fannie/ Freddie/ Bridge? Are banks still lending? Should you take a Fixed or Variable rate? You need to be aware of the new underwriting rules from Fannie and Freddie. Great conversation for beginners. Are you interested in learning more about how Multifamily Syndications work? Please visit spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 302 - Coaching and Counseling: The INFAMOUS Buyer/Seller Call. What to expect! Mar 01, 2024

Imagine this. You are in BEST and FINAL and about to be awarded a huge apartment building. It’s you and two other buying groups. You made the cut and now the seller must make the right decision. Who to choose? Are you the right buyer? Can you close? The seller has too much on the line to make the wrong pick. They want to talk to YOU! It’s the BUYER/SELLER call. Jakob Andersen with Newmark in Dallas goes through a CASE STUDY on what you should say and NOT say…when you are on that important CALL. To contact Jakob Andersen: jakob.andersen@nmrk.com Are you interested in learning more about how Multifamily Syndications work? Please visit spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 301 - Nashville is ROCKIN’ in multifamily! Have you explored central Tennessee? Feb 28, 2024

Brian Truman with SVN- Accel Commercial Real Estate sells lots of apartments in Tennessee. Did you know that Health Care Management is the top industry in the Music City Capital and not tourism. Brian discusses why 75% of his investment sales business comes from out-of-state investors buying apartments around Nashville and where the best places you should be looking to buy. Who is moving to Tennessee and why? Can you earn “generational wealth” in smaller towns in the central part of the nation? Possibly.

To contact Brian Truman: brian.truman@svn.com

Are you interested in learning more about how Multifamily Syndications work? Please visit spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 300 - Your BRIDGE LOAN is coming due! What can you do? Can you qualify for an extension? Can those BRIDGE TERMS be modified? Feb 09, 2024

These bridge loans are quirky…because all loan documents initially agreed upon (between lender attorney and borrower attorney) are like snowflakes. Every set of loan documents are different…they are not promulgated forms like Fannie loan documents. Some language added…some language subtracted. What does that mean when you are negotiating an extension? Listen to attorney Shameer Soni on what he suggests when speaking with your Bridge lender. Shameer Soni & Chris Barsness: The Patel Law Group http://www.patellegal.com Are you interested in learning more about how Multifamily Syndications work? Please visit http://www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 299 - Live from the 2024 National Multifamily Housing Council Meeting in San Diego. What did we learn? Feb 02, 2024

With over 10,000 apartment investors, lenders, general partners, property management companies, and apartment builders… this is the biggest annual event for the apartment industry called NMHC. What was discussed? Well…the biggest take aways are: from the lenders…”we are not at the bottom of the cycle: more distress is coming!” The sales brokers said…”now, is a great time to buy.” The buyers said…”I will only buy with positive leverage on stabilized NOI and I want at least a 6 cap +”. The sellers said…”I won’t look at an offer higher than at a 5.25% cap…find another buyer, please.” The limited partners are saying…”how much more capital calls are coming?” Yes…lots of opinions at the conference. 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 298 - Are PROBLEMS in 2023 going to be OPPORTUNITIES in 2024? Dec 22, 2023

Here’s a few phrases to remember from 2023… “Refinance in ‘24”- “Survive to 25” “Operate in 2026” “Sell everything in 2027” “Retire on the beach in 2028” - High level discussion on what the capital markets are witnessing today and next year. Get on the Old Capital distribution list to stay ahead of ALL the networking and lending activities that we do.

OldCapitalPodcast.com OldCapitalLending.com OldCapitalConference.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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: “Michael, how big of an impact will this recent REDUCTION of interest rates have on the apartment industry?” Dec 18, 2023

Apartment investing has been challenged in the last two years…with rising interest rates on both short term and long-term rates. The 10-year Treasury spiked up to 5% just 90 days ago…and is now down 110 basis points; that’s a large move….SO what effect will that have on apartment investing? Michael chats about what challenges and opportunities he is observing today. 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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 297 - Want to listen to someone REALLY, REALLY SMART about apartment trends? Listen to Chief Economist Jay Parsons at RealPage. Dec 07, 2023

Jay Parsons serves as Senior Vice President, Chief Economist for RealPage. He provides deep insights on market trends and consumer behaviors. He is a frequent author and speaker on topics affecting multifamily apartments and single-family rentals, including rental housing investment and asset management strategy, rental housing policy issues, risk mitigation and property management. He’s the guy you want to listen to…. Are you interested in learning more about how Multifamily Syndications work? Please visit spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 296 - “What’s my apartment worth today?” Listen to JLL’s TOP Apartment Appraiser. Nov 16, 2023

Kai Pan, MAI serves as Executive Managing Director and National Multi-Housing Valuation Lead for JLL Value and Risk Advisory in the United States. How do you value your apartment building today? Ask the broker trying to get your listing, Ask a potential buyer that wants a discount, then Ask a lender that reviews the current financials and figures out a loan amount…and you will get three different answers! What’s the upside for property values today? What areas still have future “outsized” rental growth? Are the loan special servicers panicked? To contact Kai Pan: https://www.us.jll.com/en/people/kai-pan Are you interested in learning more about how Multifamily Syndications work? Please visit spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 295 - Every Good Fighter Pilot Starts a STORY the Same Way… “So, there I was….” Nov 07, 2023

Lane Beene knew he was in trouble when a surface-to-air missile was headed to his F16 over Yugoslavia . Packed with explosives and metal shards, this “hyper-maneuvering” missile was prepared to destroy our American pilot and his plane. Lane Beene chats on stage at the 2023 Old Capital Conference on how apartment syndicators have faced tough challenges these days with higher interest rates, expanding cap rates, and short maturities on bridge loans. Are we going to get shot down? Are we going to crash? Can we recover and be successful? Lane tells an exciting story. BONUS: Rocking Chair General Partner- Michael Ochstein with Price Realty shares 38 years of apartment ownership experience. Listen to a strong apartment operator. Are you interested in learning more about how Multifamily Syndications work? Please visit http://www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 294 - 2023 Old Capital Conference Highlights: “Top Gun” Apartment Sponsors- YOU NEED TO LISTEN! Oct 27, 2023

In Top Gun, the main character was Maverick. Maverick was successful because he thought outside of the box. I think all of us have a “little” Maverick inside. These Apartment Sponsors share their story on how they left their W2 job and became successful apartment owners. These experienced sponsors “think” a little outside the box, too. They chat about numerous topics: How do you scale up to the next larger property size? Should you self-manage? How do you raise capital today? Next year- join us at the 2024 Old Capital Conference and Get Networked. 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 293 - 2023 Old Capital Conference Highlights: Top Dallas Brokers Listing Panel- Up to the Minute info. Oct 20, 2023

Over 550 apartment investors heard the “best of the best” Dallas apartment brokers give insight on what owners and buyers need to know. Some legacy owners (last 1-3 years) are in lifeboats because of their debt structure. Can they survive? Can you take advantage of buying some of these assets? What are cap rates? What should we do now? Next year…join us at the 2024 Old Capital Conference and get networked. 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 292 - “Saving Private Investor” Today, OUR mission is YOUR money! Sep 29, 2023

We are at war! We are on the front lines. Yes…We are taking fire! Keep your head down! We, as apartment investors, are in a foxhole being bombarded with challenges every day. Higher interest rates, higher taxes and insurance, higher interest rate cap costs, pending maturities, cap rates going up…yes…lots of incoming problems. “If I make it through this…I’ll never do that again!” Today, we chat about battle lessons that investors are learning today and the solutions that are available. Legacy warriors/investors are having difficulties; but the New warriors/investors have opportunities. Which group are you in? 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 291 - Top Apartment Brokers in North Texas describe the “B & C” market. Is it time to take advantage of opportunities in this market? Sep 14, 2023

Nick Fluellen heads up a 23-person team of brokers with Marcus & Millichap in Dallas. He gives us a 20-year perspective on today’s “choppy” market of apartment sales and investing. Wes Racht, is a valued member of Nick’s team, and sells large 1980’s-and 1990’s built apartments in North Texas. Nick and Wes share up to the minute information on how buyers and sellers are approaching this market. Nick reminds us that apartment buyers…for the last few years…have been asking for a market adjustment (because they thought the market was too high!) today…your adjustment is here!! Is it time to be opportunistic? To contact Nick Fluellen: nick.fluellen@marcusmillichap.com To contact Wes Racht: wes.racht@marcusmillichap.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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 290 - Property Taxes in Texas: Will they EVER COME down?? Perhaps some light at the end of the tunnel is coming. Aug 03, 2023

Property taxes, on commercial real estate, is usually the largest line item operating expense on your profit and loss statement. Your Net Operating Income (NOI) is dramatically effected by how much your property taxes go up. (They never seem to go down) In Texas…property taxes have been skyrocketing and causing hardship to profitability. Most commercial real estate investors hire an advocate to fight the taxing authorities for a lower annual tax bill. Mark Cantrell with Cantrell McCulloch is an expert on reducing property taxes in Texas.

To contact Mark Cantrell: https://cmi-tax.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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: “Michael, can you break open the SPI playbook; what does it take to buy a property today?” Jul 31, 2023

Michael gives you insight on what his team focuses on when buying apartments in today’s wacky market. Michael is not soliciting for capital; but just gives an example on what type of pricing discount some buyers are able to achieve. Certain sellers are chasing a higher price on some unproven buying groups. If you are a seller, do you want to always go with the highest price…or Are you counting on certainty to close? Most realistic sellers, in today’s market, need certainty to close.

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. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

EPS 289 - Do we have too many PILOTS and not enough PASSENGERS? Jul 21, 2023

Are there too many general partner syndicators and not enough investors? Within the last 10 years…we have observed a lot of apartment transactions closed with the syndication investment model. As you know, a syndication model is like flying in an airplane. Pilot and passengers both perform critical roles to make a flight successful. The pilots are in the front of the airplane- they are the general partners- they are putting the deals together and making the operational decisions. The passengers in the back of the airplane… they are the limited partners. They are the investors in the deals that bring the bulk of the equity. Today, we have too many pilots and not enough passengers. We need more passengers (equity investors) to run a successful airline (apartment syndication.) Listen to the investment sales team at Rowan Multifamily Advisors in Dallas. They chat about recently closed transactions and why investors are buying or selling. To visit with Rowan Multifamily Advisors: rowanmultifamilyadvisors.com Coleton Burch: coleton@rowanmultifamilyadvisors.com Rowan Burch: rowan@rowanmultifamilyadvisors.com Matt Waskow: matt@rowanmultifamilyadvisors.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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 288 - “YOU CAN’T HANDLE THE TRUTH” Colonel Jessup- A Few Good Men Jun 29, 2023

JESSUP: You want answers? KAFFEE: I want the truth! JESSUP: You can't handle the truth! Well maybe…YOU can handle the truth. “It’s challenging to be an apartment investor these days.” That’s the truth. Not a lot of inventory is available, it is difficult to raise common equity, operating expenses are much higher and mortgage interest rates are up 500% from January 2022. Wow! Yet… some transactions are still being done. In today’s podcast we chat about what we are seeing in apartment investing land and what you should be paying attention to. Spending time with James “the professor” Eng is always enlightening. 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

ASK MIKE MONDAYS: “Michael, would you start BUYING APARTMENTS at these LOWER PRICES?” Jun 15, 2023

Within the last 18 months apartment prices have come down significantly. In some markets- up to a 20% reduction of value. Yikes!! Has the knife fallen enough? Is it time to start buying apartments, again? What types of apartments should you be looking at- Class A, B, or C? What type of financing would you do? Michael shares his walking path with you in apartment investing. 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. If you enjoyed this discussion…. Please leave us a 5 STAR RATING on iTunes.

EPS 287 - Are the INSTITUTIONAL apartment buyers coming back this year? May 21, 2023

Joey Tumminello with Marcus & Millichap’s Institutional Property Advisors Group shares his insight on what the “smart buyers” (REIT’s, pension funds, life insurance and large family offices) are buying or NOT buying. Institutional-grade real estate is Class A or Class A+ property that generally has minimal risk of deteriorating or becoming obsolete during the investment holding period because the properties are brand new, have state-of-the-art systems, and the best amenities. These type of buyers set the pace for the entire industry with buying or selling.

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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 286 - Before you invest your hard earned $$ into real estate- Shouldn’t you find a qualified apartment educator or mentor? May 16, 2023

Today, apartment investing is completely different from what it was just 18 months ago. Interest rates are much higher, leverage is much lower, cap rates are higher, and values have fallen. Yes, it is challenging to be a real estate investor. Veteran Apartment Mentor- Brad Sumrok discusses what he is advising clients today. To contact Brad Sumrok: www.bradsumrok.com May 2023 Old Capital Virtual Speak Series: Capital Calls RSVP: OldCapitalLending.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. If you enjoyed this discussion; please leave us a 5-STAR RATING on iTunes.

EPS 285 - Are you on the wrong side of wealth creation? Shouldn’t you be an owner of real estate? May 05, 2023

For 30 years Robert Tinning managed apartments for rich real estate owners. He was great at managing other people’s properties BUT... he always dreamed about buying his own portfolio of apartment buildings. Robert had the experience but didn’t have the money. He found the money to buy through apartment syndication. He then quit his W2 job and jumped into apartment ownership a few years ago. Robert bought 6 large apartment buildings. Wow! He manages his own portfolio of apartments. Robert shares a few lessons that will help you. To contact Robert Tinning: rtinning@mrtmgmt.com May 2023 Old Capital Virtual Speak Series: Capital Calls 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 284 - Top Producers from the Newmark- Dallas office explain the State of the Apartment Market in North Texas and what they are seeing from both buyers and sellers. Apr 21, 2023

In the Dallas/ Fort Worth market, Apartment sales volume is down 75-80% from just 12 months ago. In smaller markets, volume is probably down 80%+. Yes…interest rates are up, but if you are going to buy commercial real estate, most investors prefer multifamily. Why? 1) Fannie and Freddie are your backstop with financing and can offer longer fixed rate terms 2) rents can reset to the market every 12 months 3) you can change market value by increasing your NOI 4) personal tax advantages. If you are new to multifamily, this could be the time to put together your team (equity, debt, listing brokers, real estate attorney, etc.) for the NEXT cycle. To contact Jakob Andersen - jakob.andersen@nmrk.com To contact Bart Wickard – bart.wickard@nmrk.com To contact Matt Wideman – matt.wideman@nmrk.com To RSVP to the Old Capital Speakers Series: OldCapitalPodcast.com Hear From Top Property and Asset Management Companies- Wednesday April 26th. 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

Eps 283 - One operator had $229,000,000 in apartments FORECLOSED upon this week. What? How did that happen? I thought commercial real estate only went up. Apr 08, 2023

Inside stories from the front line. You invested in a real estate transaction because of the tax implications and now the property gets foreclosed upon…What exposure do you have with the depreciation recapture? It could be huge. Yikes! Also… Learn what you should be doing to protect yourself if you have a high leverage adjustable-rate bridge loan. Be prepared to make a move… because “hope is not a strategy.” Make sure your lender is advising you on what options you have today…. should you - 1) sell the asset, 2) refinance (if you can) to a Fannie/ Freddie/ FHA, 3) a capital call to investors. To RSVP to the Old Capital Speakers Series: OldCapitalPodcast.com Hear From Top Property and Asset Management Companies- Wednesday April 26th. 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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 282 - WHEN WILL INTEREST RATES STOP GOING UP? If you are an apartment investor, JP CONKLIN with Pensford, gives you that critical information! Mar 26, 2023

Today, in the podcast we feature JP CONKLIN with Pensford. JP walked through the future direction of interest rates after the .25-basis point hike last week. When will it end? We recorded his discussion with over 300 apartment investors at the Old Capital Speaker Series in Dallas on March 22. Again, the Speaker Series is an educational & networking event. We bring in top speakers in the apartment industry. JP is an expert in the direction of current and future interest rates and what effect it has on apartment financing and investors’ risk. You want to listen to him. We appreciate JP who flew in from North Carolina. To get the Pensford Newsletter: Pensford.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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes. *Final OC Speaker Series Interest Rate Update - March 2023

EPS 281 - Brazilian Immigrant… purchased over 2100 apartment units. How did he do it? Mar 22, 2023

Brazilian Immigrant… purchased over 2100 apartment units. How did he do it? Dante Andrade came to Texas with a huge talent- he is an expert piano player. He sharpened his skills at the internationally famous University of North Texas Jazz Band. He graduated and played in small clubs, big churches, and then taught students how to play. He loved playing music but also had the desire to get wealthy. He knew that playing the piano 24 hours a day…for 7 days a week… wouldn’t get him there. He had to find a better way. He discovered an apartment mentoring group, and they accelerated his learning. Listen to Dante’s journey on how, with the help of our DUS underwriter acquire over 2100 units. He’s living the American Dream…Are you? To contact Dante Andrade: dante@tourocompany.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. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

EPS 280 - Is Austin still HOT? Matt Pohl with Walker & Dunlop chats about the Austin, Texas apartment market. Mar 10, 2023

International investors want to invest in the US. US investors want to invest in Texas. Texas investors want to invest in Austin. Today, Matt Pohl with Walker & Dunlop gives you the apartment update from the Capitol of Texas, Austin. Austin ranks second on the list of fastest-growing economies in the US. With a 2020 population of 2,283,371- the Austin MSA is no longer a sleepy little college town. Should you consider Austin for your investable dollars? To contact Matt Pohl: MPohl@walkerdunlop.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. If you enjoyed this discussion…. Please leave us a 5 STAR RATING on iTunes.

EPS 279 - Checkmate! These ‘Knights’ are making outstanding moves in multifamily investing. Mar 01, 2023

Today, Keith and Shannon Knight own and operate multifamily properties in North Texas. Prior to getting into apartment investing they purchased and operated a few single family vacation rentals in Orlando. It was a very profitable business but lacked the scalability. Luckily they found an education and mentoring group and became hooked on investing in apartments. They started in 2019 with the acquisition of a stabilized two property portfolio- of 40 units. In 2020, they purchased a 60 unit, heavy value add property. They spent over $28,000 a unit in rehab. Wow! Listen to the Knights share their story on how they got into apartment investing and the success they have had.

To contact Keith & Shannon: keith@knightreigroup.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. If you enjoyed this discussion…. Please leave us a 5 STAR RATING on iTunes.

EPS 278 - February Speaker Series Greg Willett Apartment Economist Feb 21, 2023

Did you ever listen to a guy that KNEW what he was talking about? I mean really knew the subject. The February Speaker Series features THAT guy. Greg Willett is with Marcus & Millichap- Institutional Property Advisors Group. He is the apartment economist that big institutional apartment buyers listen to, senior bankers listen to, he is quoted in numerous newspapers and financial articles, and now we want you to listen to him. Greg chats about what is currently on the horizon for apartment rental growth, cap rates, and what local markets are the best. Great conversation in front of 300 apartment investors.

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.  If you enjoyed this discussion…. Please leave us a 5 STAR RATING on iTunes. A NEW CYCLE BEGINS by Greg Willett

ASK MIKE MONDAYS: “Michael, oh wise one…How are we going to get through higher rates on these apartment transactions and survive? Feb 18, 2023

Higher Interest rates and lower debt sizing is what ALL apartment syndicators are anxious about today. What is your defensive strategy? Michael gives you INSIDE INFORMATION on how he is structuring his transactions in this environment. Survive until ’25. Listen to the guy that has acquired over 14,000 apartment units. 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. If you enjoyed this discussion…. Please leave us a 5 STAR RATING on iTunes.

EPS 277 - Have a BRIDGE loan and NEED TO GET OUT? Can a HUD loan protect YOUR partnership? Feb 15, 2023

Mention HUD financing to apartment syndicators a couple years ago…they would laugh at you. Today, many syndicators are not laughing. Those adjustable-rate loans need additional capital (like a fish needs water) from their limited partner investors to purchase expensive interest rate caps; so numerous syndicators are exploring different refinancing options. Fannie & Freddie are good options, but many syndicators are “changing the narrative” to hold the property longer until the market improves. A HUD loan could be a better option with a 35-year fixed term and lower debt service coverage to qualify. Listen to this important discussion on HUD financing in today’s market. 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. Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that, thanks.

EPS 276 - Rule #1: Protect your Limited Partners First Feb 11, 2023

If you are going to be a syndicator for the next decade or two; you must protect and communicate to your limited partners. We are in turbulent times in multifamily. Many promised distributions have not been made to investors, interest rates have skyrocketed after the loan documents were signed, interest rate caps have gone up in cost over 40 times, and rental growth is stagnant. What is the general partner to do? We discuss three challenges that Lane Beene and his team at Pilot Legacy Group are faced with. Listen to how they protected their limited partner investors when REAL DOLLARS are at risk. Watch their monthly video on getting the message out to their limited partners. To contact Lane Beene: lane.beene@pilot-legacy.com Watch How Lane and his team communicate: https://www.youtube.com/watch?v=uYmZ9walxEM 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. Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 275 - DIDN’T GO TO NMHC this year? What we heard at the MASSIVE 2023 Annual National Multifamily Housing Conference in Las Vegas that WILL make you modify your investing this year. Feb 04, 2023

Over 10,000 real estate professionals came to Las Vegas last week. This is the BIG CONFERENCE for apartment buyers & sellers, lenders, equity providers, new apartment builders, commercial Realtors and lots of other folks that support the apartment industry. This meeting is not for the brand-new syndicators, this is the next level of apartment investors. We spoke with the major players in this dynamic industry. You want to know what they shared and how it WILL adjust your investing for 2023 and beyond. 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. Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 274 - Meet Mark Allen and Todd Franks with GREA- Dallas. INSIDE SECRETS with top apartment brokers in Texas Jan 20, 2023

Mark and Todd sell apartments in Texas, Oklahoma, and Arkansas. Their team traded over a $1 BILLION in apartments in 2022. Wow! Listen to how apartment transactions are being structured today. What makes a good buyer? Who is selling & why? Where is the money (debt & equity) coming from? What are cap rates today? Are syndicators still buying? At this valuation level of the apartment market-should you dollar cost average (like stocks) by investing in this market? Also…helpful Ideas to share on why investors continue to invest in apartments. 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.

Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 273 - Goodbye 2022; What can you expect in apartment investing in 2023? Jan 17, 2023

“Survive to '25- that’s 2025!” That could be the most important lesson from today’s podcast. In the beginning of 2022, many apartment investors were geared up to be very aggressive in buying buildings. Low rates, plenty of capital (debt & equity), & great inventory to buy. Then…At the end of the first quarter…. BOOM. The industry slowed down. I mean stopped. Inflation. Higher Interest Rates. Slowing economy. Rising Cap Rates. Less Sellers. Less Buyers. Equity was difficult to raise. Larger down payments were required. A complete 180 from January. WOW! Today…beginning of 2023; What should you do? Stay invested? Buy more? What are the challenges, and the opportunities investors are faced with today. You need to listen to what industry insiders are saying…it could save or make you money. 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. Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 272 - END OF YEAR- LOAN OFFICER ROUNDTABLE: What’s happening out there? What’s getting approved? Dec 08, 2022

Listen to the commercial loan officers at Old Capital examine how the apartment market changed dramatically in 2022. In January, every apartment buyer was ecstatic. Higher leverage debt was readily available, apartment inventory was strong, prices were even higher than 2021 and every LP investor still needed to invest in apartments. In December…NOT SO MUCH. The market did a 180-degree change within 12 months…Boom! Where does that leave us? How are transactions getting done today and what type of financing is available? Should you consider fixed rate bridge debt? Are LP’s still investing? 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. Please leave us a 5 - STAR RATING on iTunes; if you enjoyed this podcast.

EPS 271 - Don’t get on the BAD BOY/GIRL list with FANNIE MAE? Dec 02, 2022

Santa Claus has his famous “naughty list” for bad boys and girls. No toys this year…just coal. Today, Fannie Mae - thru their DUS lenders- have a similar ‘list’ that tracks the bad and good multifamily operators. If you are on this list; called the “A Check” you may have difficulties in getting another loan from Fannie Mae. Why is this important today? Because many apartment operators recently (in the last 24 months) have originated high leveraged, non-recourse bridge loans that were supposed to be sold after the rehab, rents raised and then projected NOI being much higher OR refinanced into a Fannie Mae or Freddie Mac loan. Today… you could have a problem to sell if your NOI didn’t go up significantly or your sponsor didn’t realize that they were on the “A Check” on a previous Fannie transaction that had a problem. Don’t get coal from Fannie Mae. Listen to our conversation with two DUS loan servicers. 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. Please leave us a 5 - STAR RATING on iTunes; if you enjoyed this podcast.

EPS 270 - With INTEREST RATES RISING even HIGHER… Are buyers RETRADING sales contracts, again? Oct 01, 2022

RETRADE 2.0 could be happening now with rising interest rates. Interest rates have risen significantly over the last 6 months. Can you remember what short term rates were in October 2021? SOFR was .05% in October....today its 2.98%. Long term rates, like the 10-year treasury, in October 2021 was 1.47% and now its almost at 4%. Do you think property values have changed? Apartment values that initially changed in May-June 2022; are changing again. Buyers that are under contract today…are considering re-trading to a lower purchase price with the seller because rates have been going up even higher than 90 days ago. Listen to what is happening today. 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. Please leave us a 5 - STAR RATING on iTunes; if you enjoyed this podcast.

Ask Mike Mondays: “Mike, What is the temperature today to raise money from LP investors?” Sep 21, 2022

Mike gives us an update on what to expect when you are raising capital to fund a transaction. First- it was higher interest rates, Second- it was the seller and the buyer not knowing the current value of property because cap rates have expanded, And Now, its raising equity to fund a deal. Are there LP’s wanting to invest? Michael chats about how a typical capital raise is going today.

Listen to the guy that has acquired over 14,000 apartment units. 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.  Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 269 - Nick Fluellen: What does the TOP TEXAS B&C apartment broker think these days? Sep 16, 2022

It’s good to be the KING in Texas Apartment Brokerage. Nick recently earned the title Executive Managing Director for Marcus and Millichap. Nick and his business partner, Bard Hoover, are consistently the top producers for the company. Nick shares his thoughts on what he sees in the apartment market with a “significant reset” on the capital markets, interest rates, inflation, valuation, sellers’ expectations on value, the challenges today of selling 40–50-year-old apartments, and then having broker tour activity down almost 80% from last year. Yikes! Nick talks about the “green shoots” and the positive reflections that he is starting to see in the apartment market in Texas. What we like about Nick-- is that he doesn’t give you broker speak…that everything is “positive” all the time. He talks about the good and the bad. Listen to the KING. To contact Nick Fluellen: Nick.Fluellen@MarcusMillichap.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 268 - Pratima & Bhuvan Sharma: Transitioning from a HI-TECHNOLOGY job to a HI-NET WORTH PERSONAL balance sheet Sep 13, 2022

Bhuvan and Pratima Sharma spent 25 years in the high technology industry. They loved their jobs…but spending 70-80 hours a week, traveling internationally, and not spending time with their children…they needed to find a better solution. They found it with apartment investing. Bhuvan and Pratima just closed on a very large, brand new- CLASS A property in McKinney, Texas; BUT they did not start there. They started with a small CLASS C- old property a decade ago. Over the last few years they accumulated over $300MM in real estate. If you don’t start today; you won’t be able to enjoy your success tomorrow. Listen to the challenges and solutions they found along the way. To contact Pratima Sharma: sevenseas@sevenseashld.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 267 - Brad Sumrok: Helping investors ‘TEN-X’ their net worth through apartment investing. Aug 24, 2022

Retired after just 3 years investing in apartments, Brad has owned over 7,500 units in 11 different markets throughout the county AND has helped hundreds of students increase their worth by Millions following his proven step-by-step process. Learn from the guy that did it. Brad didn’t start off with a silver spoon in his mouth; born of working-class parents in Pittsburgh, he bought his first apartment investment over 20 years ago and has been teaching apartment investing for 15. His passion is teaching and the millionaire mindset. Brad chats about the upcoming AIMNATCOM.COM event in Dallas on September 30-October 2. To contact Brad Sumrok: BradSumrok.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 266 - Danny Baker: The $30 Billion Dollar Man. CBRE Vice Chairman and leader of the Dallas Multifamily team gives you the insight on what’s happening TODAY in apartment sales and investing. Aug 07, 2022

Danny Baker is one fired up guy! If he was selling cars…he would be the best car salesman. If he was an economics professor…he would be your favorite teacher. Danny educates you on what he is observing in apartment investing in Texas. Since 2012, Danny and his team have closed over $30 billion in multifamily investment sales for CBRE. He works with syndicators, institutional buyers, and family offices. Listen to what he is passionate about. You could probably guess….apartments! 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 265 - JP CONKLIN: When are interest rates coming down? Aug 05, 2022

If you are an apartment investor…you need to know what all your costs are going to be in the future. How much for insurance? How much for property taxes next year? How much is my debt service going to be for next year? Am I going to have a NET OPERATING INCOME or a NET OPERATING LOSS? JP Conklin gives us an idea on where interest rates are headed. Typically, your mortgage is the largest line-item expense on your operating statement… It would be good to know if you have an adjustable rate or if you are going to refinance in the future…on where interest rates are headed. JP gives you some insight. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS: “Mike, what POSITIVE things are you seeing today in APARTMENTLAND?” Aug 02, 2022

As you can imagine, with interest rates rising, many apartment investors have been pencils down. Investors are concerned with lower asset value & higher debt service. Is there any good news out there? What are some of the positive ideas that are occurring in apartment investing? Mike is starting to see some positive “green shoots.” Mike discusses some of those encouraging thoughts on what he is seeing in apartment investing. Listen to the guy that has acquired over 14,000 apartment units. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 264 - Mid-Summer Update: HOT in Dallas…but COOL in apartments. Jul 21, 2022

Boy is hot out there!! Really…its 108 degrees in the Dallas in middle of the summer BUT… the apartment market is still a little chilly. Are deals trading? What’s available for debt these days? What’s going on with retrades; is that still happening? For the last few years…listing agents controlled ALL THE CARDS…today its different…the BUYER is in control! Really? Yes! AND…take advantage! James “The Professor” Eng gives you the update on what buyers and sellers can anticipate with apartment investing with higher interest rates and higher cap rates. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

EPS 263 - Story Time with Charlie Young: Buyer of 30,000 units Jun 19, 2022

What could you learn from Charlie Young at Madera Residential? A LOT! Charlie and his partners at Madera Residential have purchased over 30,000 apartment units. Yes…30,000 units. Over a decade ago, they started buying older & value-added Class C properties in demographically challenging areas. Today they are buying brand new and slightly older apartments in much better neighborhoods. Listen to some of his funny stories about apartment ownership. The real estate is easy; people are challenging. To contact Charlie Young: charlie@maderaresidential.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS: “Should we TAKE THE REST OF THE SUMMER OFF from multifamily investing? Jun 12, 2022

Boy, it is hot out there! We know the outside air temperature is red-hot during a Texas summer; but is the apartment investing market starting to cool off- is a deep freeze coming? Mike confirms that the fundamentals of apartment ownership are still very strong. Great occupancy and good rental growth are still being observed with apartments… but the head winds within the capital markets- through higher interest rates and lower loan leverage- have made a few potential apartment buyers uneasy. Mike discusses the state of the market. What should you do? Listen to the guy that acquired over 14,000 apartment units. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Eps 262 - INTEREST RATES are blowing up; LEVERAGE is down; IS the PARTY OVER? May 20, 2022

Long- and Short-term Interest rates have risen significantly over the last few months. Today, the Non-Recourse Bridge Lenders are issuing term sheets at much lower leverage and higher debt service. What happened and what impact will that have on your apartment investment? At the May- Old Capital Speaker Series we had INTEREST RATE GURU- JP CONKLIN, with Pensford in-person to discuss where interest rates are possibly headed and why interest rate caps are UP 10X from last year. You need to listen to this podcast- if you are an apartment investor.

To get a copy of the entire presentation contact: JEng@OldCapitalLending.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.

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS : “SPECIAL ADDITION - Interest Rates are NOW RISING - What IMPACT will that have on my INVESTMENT?” Mar 24, 2022

Listen and Learn. Many new real estate investors have never seen interest rates RISE significantly. Today the Fed is talking about a possible 2.5% rise in short term rates. That could mean your ALL-IN interest rate on your apartment loan could go to 5.5%-6%. Wow!! What impact will that have on your apartment investment? What impact does that have on adjustable rates on Fannie/ Freddie and Bridge loans? How much additional cost will I have to pay for an INTEREST RATE CAP INSURANCE? Mike reads a recent letter he received from his loan servicer with a FREDDIE FLOATER (Adjustable Rate) on it. Listen to how much his monthly impound cost will rise… to buy a required future interest rate cap. I think you will be astonished. Listen to the guy that bought over 10,000 apartment units. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Eps 261 - Matt Pohl with Walker & Dunlop explains why….”Everyone wants to BUY APARTMENTS in Austin, Texas…” Mar 18, 2022

“KEEP AUSTIN WEIRD” was written on many T-Shirts for the last 2 decades. College kids went to the University of Texas at Austin…and never came back home. They loved Austin’s unique culture, technology influence, and California vibe. Today, every apartment buyer wants to own in Austin. Austin is on fire!! Matt Pohl with Walker & Dunlop Investment Partners sells apartments in Austin & San Antonio (central Texas). Matt will give you an overview on why apartment buyers love this area and why companies are expanding. Great insight from the front lines. To contact Matt Pohl: mpohl@walkerdunlop.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS- “Michael, insurance is a huge annual cost; any solutions to Feb 19, 2022

Is there too much money in the market chasing too few deals? Michael gives you a few examples on how sellers are reacting to this market. Today, Michael is selling a few large apartment communities. Michael shares with you on how they picked the buyer. Was it only the highest price? Did he check references from other brokers for certainty of close? Michael, explains what is important and what should you know. Listen to the guy that bought over 10,000 apartment units. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Eps 260 - ‘INTEREST RATE FORTUNE TELLER’ JP Conklin – Shares his insight into where INTEREST RATES are headed in 2022. We think you will be surprised Feb 17, 2022

Are you buying an apartment building? Have you been watching where interest rates are at and going? WOW!! Are you concerned…? or should you be worried? JP Conklin with Pensford is an expert when it comes to giving you insight on interest rates for commercial real estate. JP is the ‘interest rate fortune teller.’ Pensford is a financial consulting group that gives real estate investors the ability to hedge interest rates. JP will give you the inside track on where interest rates are at today and where they are potentially going. Financing an apartment today; should you consider floating with an adjustable rate OR locking into a long-term fixed rate? Many loans are tied to the 10-year treasury…that has been rising recently…so this is a timely conversation in your decision. You don’t want to miss this discussion. To contact JP CONKLIN: www.pensford.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Eps 259 - Gourav Goyal: Life beyond my corporate career with multifamily investing. Feb 06, 2022

Gourav Goyal grew up in India. Received a degree in engineering and then came to the University of Texas to earn his MBA. Gourav worked in corporate consulting for over 17 years. And… then 5 years ago he started his multifamily investing journey. Today, he is retired from his corporate career by investing, owning, and asset managing large apartments. Could you do that? What do you need to know? How do you go from owning a house to acquiring a 265-unit apartment building? What are the action items that Gourav completed to be successful in real estate investing? Please listen and take notes.

To contact Gourav Goyal: gourav@prosperousbend.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Eps 258 - Didn’t attend the 2022 National Multifamily Housing Conference (NMHC) in Orlando this year?? That’s alright; we were there and will share our insights on what we learned. Jan 23, 2022

Over 7000 multifamily professionals attended the annual conference in Orlando. This is a HUGE gathering of apartment buyers and sellers, apartment brokers, lenders, equity providers, apartment developers and apartment economists. It really is the preeminent NETWORKING opportunity in multifamily. Where are interest rates headed? What city has the best upside for apartment buyers? How long does this “bull market” in apartment investing last? This is a conversation that you don’t want to miss. Join NMHC to attend the 2023 NMHC Annual Meeting: https://www.nmhc.org/membership/ 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 - “Michael, should we still invest in apartments in 2022?” Dec 31, 2021

Michael gives a RECAP of 2021 in the apartment business. He shares the challenges and the successes for 2021. Michael gives you his opinion on what the tea leaves are sharing with him for 2022. Are rents going down? Are cap rates rising? Do you think interest rates are going up and what type of impact will that have on your apartment investments? Listen to the guy that bought over 10,000 apartment units. 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.

Episode 257 - Has the supply chain screwed you up in acquiring VALUE-ADDED apartments because of lack of materials to upgrade? Do you need quality kitchen cabinets, granite counter tops, faucets, lighting, flooring and more- TODAY? Vima Décor can help yo Nov 28, 2021

Vima Décor is a volume supply company with over 16 years of experience in providing commercial property owners, builders, and developers with superior finishing products for multi-family renovation projects. Their products will transform any outdated living space into one of luxury and sophistication while staying well within the budget. This family run business owns thousands of apartments; so they know what you need! They initially opened an office in China and purchased and transported quality materials directly from Southeast Asian almost two decades ago for the use of their own properties. Today…their 110,000 square foot warehouse is filled with materials to help you. This is the group you want to chat with- if you are going to update your apartment building. To contact: VimaDecor.com To contact: maia@vimadecor.com To contact: timothy@vimadecor.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 256 - LeakAware- The Apartment Water Monitoring System: Saves you BIG money! Nov 21, 2021

Does your apartment have a continuous water leak? Do you pay for your tenants’ water? Do you have leaky showers; and Toilets that continuously run; with tenants that don’t notify you? Hey…It’s your money that’s going down the sewer. Shouldn’t you be aware of water usage issues? Ryan Wehner and Jon Minjoe of LeakAware are on a mission to save you money by saving wasted water. LeakAware software makes it easy on you, and your team, saving money, time, and water in the process. Their proprietary technology provides water meter data in real-time, on a minute-by-minute basis. It provides the data for you and your maintenance team to immediately validate and correct unnecessary water usage thus saving you money and increasing the value of your property. To contact: LeakAware.com To contact: jon@leakaware.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 255 - 4th Quarter Loan Officer Roundtable: What you need to know in financing! Nov 10, 2021

The Old Capital Loan Officer Roundtable discussion brings incredible value if you are new to multifamily investing. Listen to some of the most active loan officers in the nation share REAL lending stories on what is happening today. You and your investors bring in the equity…and your lender brings the majority of the money. Your lender is your biggest partner. Listen to what you can expect from your multifamily lenders today. Should you pursue a BRIDGE LOAN; a FANNIE MAE or FREDDIE MAC LOAN; or a BANK LOAN? Listen to their insight to help you. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 254 - Jakob Andersen with Newmark discusses CAP RATES on apartments in Texas. Will compression continue? Oct 31, 2021

What are apartment investors willing to accept for YIELDS today? Jakob Andersen with Newmark in Dallas gives us a breakdown on where CAP RATES are today. Also, Jakob breaks down who are the apartment buyers today. Is it institutional? Is it family office? Is it syndicators? What property class are they pursuing? Can that be sustained? Michael discusses how smaller groups can compete against larger and more experience apartment buyers to win deals. You don’t want to miss this conversation. To contact Jakob Andersen: jakob.andersen@nmrk.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 253 - Nick Fluellen with Marcus & Millichap- Dallas sells a '$#^@ load' of apartments Oct 24, 2021

Nick Fluellen joined Marcus & Millichap in 2004 as a multifamily agent focused exclusively on assisting clients with the acquisition and disposition of multifamily properties. Since then, he has successfully closed more than 440 transactions totaling more than $3.1 billion in value. Nick Fluellen and his business partner, Bard Hoover, lead a team of over 20 agents and staff. In 2021, their team is leading all apartment brokers in Texas with of sales and listings. He discusses what to expect in Texas apartment sales for the remaining part of the year. To contact Nick Fluellen: Nick.Fluellen@MarcusMillichap.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 252 - Did you miss the 2021 Old Capital Conference? WE RECAP NOW! Oct 15, 2021

Over 500 apartment investors enjoyed the 2021 Old Capital Conference at the Texas Rangers stadium in late September. James Eng gives you the recap of this outstanding annual networking event. Featured this year were: economist KC CONWAY, baseball Hall of Fame catcher - Ivan ‘Pudge’ Rodriguez, and HEB Grocery Store President- Scott McClelland. Of course we had the top apartment brokers, capital markets lenders and general partners discussing apartment investing today. Old Capital is hiring. Contact James Eng at JENG@OldCapitalLending.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast

ASK MIKE MONDAYS- “Michael, insurance is a huge annual cost; any solutions to help me? Oct 10, 2021

Michael gets into the weeds with apartment insurance. Inflation on building materials, labor, and the supply chain are having a direct impact on annual insurance premiums. When buying a property, don’t use the seller’s annual premium on costs on the PROFIT & LOSS. It could be off my several thousands of dollars. Make sure you get a updated & realistic insurance quote. BONUS QUESTION: Self-Management versus third party property management; what is better? 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 251 - JP Conklin- Where are interest rates headed on commercial real estate loans? Oct 08, 2021

You’ve heard of the ORACLE of OMAHA, right? Warren Buffet. Well…. Meet the Oracle of North Carolina! JP Conklin with Pensford. JP is the ‘interest rate fortune teller.’ Pensford is a financial consulting group that gives real estate investors the ability to hedge interest rates. JP gives you the inside track on where interest rates are at today and where they are potentially going. Financing an apartment today; should you consider floating with an adjustable rate OR locking into a long-term fixed rate? Many loans are tied to the 10-year treasury…that has been rising recently…so this is a timely conversation in your decision. You don’t want to miss this discussion. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 250 - You need to know West Texas Apartment Experts- Greg Brownd and Grant Roehm of KW Commercial Sep 18, 2021

Many investors think of West Texas as oil and gas only. Well...this huge, economically diverse area takes over 8 hours to drive from Fort Worth to El Paso. Wow!! It’s like a whole different country; with many small and large towns in-between. West Texas could be an opportunity to grow your apartment portfolio. Greg Brownd and Grant Roehm explain why investors are buying apartments in Amarillo, Lubbock, Midland, San Angelo and El Paso. To contact Greg: gregbrownd@kwcommercial.com To contact Grant: grant.roehm@kwcommercial.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS- “Michael, I’m new to rehabbing apartments. Where do I start?" Sep 13, 2021

Apartment Rehab 1.0 - was probably completed 9 years ago by the initial round of value-add apartment investors on older buildings. Today, those units need to be updated with the latest amenities. Today Apartment Rehab 4.0 - is needed to keep tenants continuing to pay higher rents. Where do you start with a rehab? Michael gives you examples on what he did when he first got started in upgrading apartments and what he does today. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS- “Michael, why are BRIDGE LOANS so popular now?” Sep 06, 2021

Bridge loans are taking a larger share of the apartment financing market today. Non-recourse debt funds offer apartment buyers higher leverage and lower pricing with a bridge loan. Why is that? Because bridge loans take into account your future NOI- unlike Agency loans that only focus on historical NOI; they provide more flexibility in underwriting and higher loan dollars. Bridge loans can help you acquire the property, provide most of the rehab dollars to increase future NOI with stronger future rents, and allow a flexible exit strategy. These loans are short-term financing solutions and are not permanent solutions; so beware of the quicker maturity. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 249 - Why should YOU attend the Old Capital Conference? Networking and Learning, of course!! Sep 02, 2021

The 2021 Old Capital Conference is the best Multifamily Conference in Texas. We provide apartment investors a chance to meet general partners, limited partners, apartment brokers, syndicators, management companies, mortgage bankers and apartment education and mentoring companies. This annual conference brings the best vendors together at a huge venue in Texas. They say everything is bigger in Texas… it certainly will be…because on September 22 & 23 you will be on the field at the Texas Rangers ballpark. Yes…the conference is held at the newest ballpark in the Majors. See you then. OldCapitalConference.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS- “Michael, I see a trend that many syndicators are now changing deal sponsors on every deal; SHOULD I BE CONCERNED as a limited partner?” Aug 22, 2021

In real estate investing you should seek consistency or continuity. Some partnerships change teammates on every transaction. Today, Mr X, Ms Y and Mrs Z are all partners… tomorrow, on a new deal… Mr X is the same…but out - are the old partners - and now Ms A and Mr B are added. It seems like a lot of sponsors are gypsies. How does that work and why? Should that be concerning for a Limited Partner investor? Michael explains what he is noticing today in syndication trends and what can certainly be a future problem. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 248 - Asset Manager Jack Langenberg explains the difference between ASSET MANAGEMENT & PROPERTY MANAGEMENT Jul 31, 2021

A property manager acts on behalf of the owner in routine tasks such as rent collection, the administration of leases, the scheduling of maintenance and repairs, and, perhaps most importantly, tenant relations. Asset management, by contrast, is concerned with maximizing the revenue potential of each property and identifying new methods of creating longer-term additional value in the asset. These roles are distinct from one another. Jack Langenberg explains what he does as an asset manager for ownership groups. Jack emphasizes that asset managers are applying downward pressure on property managers to do more, which is likely a result of the technological advances made in analytical and data reporting tools in the past two decades. Jack is a real smart guy and you need to take notes. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS- “Michael, I don’t want to SOUND LIKE A ROOKIE; what questions should I ask the listing broker?” Jul 26, 2021

Nobody wants to sound like a rookie when they first enter the apartment business. Especially when having an initial conversation with an important listing broker. Michael, gives you some preliminary questions to ask. Also, when should you bring in your property management company or the lender to review the deal? Finding the right balance on WHEN you should bring in your advisors is critical to your success. In addition, Michael offers you a few examples of when he stumbled in operating apartments. Learn from someone else’s mistakes. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 247 - Find the problems upfront: Golden Nuggets of WISDOM from seasoned Apartment Property Inspector/Engineer- Bryan Amos Jul 25, 2021

You don’t want to make a large mistake when buying a large multifamily property, but many investors will not hire a qualified apartment inspector or engineer to uncover any physical problems on the asset. Problems like a blocked or broken sewer line; or old electrical panels that won’t trip and will have the potential to spark a fire; or how many older HVAC units must be replaced in the next 2-3 years. These costly problems will destroy your estimated operating budget. Bryan Amos gives you examples on what you can expect when calculating a budget. To contact Bryan Amos: BryanAmos@theomnigroup.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS- “Mike, IS multifamily still a good place to invest in?” Jul 19, 2021

Michael gives you his opinion on where the apartment industry is today. Rents are UP, Values are UP, and Cap Rates are DOWN. Is it going to last? TODAY is the 'golden age' of apartment ownership. Michael goes into detail where he sees the opportunities and challenges in the next few months with apartment investing and ownership. Also, the guys discuss the ramifications of being on the wrong side of Fannie Mae and Freddie Mac and how it will impact you on doing future business with the Agency lenders. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 246 - RENTS ARE UP HUGE in most markets! Apartment Economist Greg Willett has all the answers Jun 24, 2021

Chief Economist Greg Willett gives us the latest updates on rents, vacancy, & cap-rates. Throughout the country many apartment renters are going to need deeper pockets. After a slowdown during the early days of the pandemic, rents are rising again; the biggest such increase since 2016. Nationwide, average apartment rents were up 4.2% last month from May 2020 levels. In Phoenix apartment rents were almost 16% higher year-over-year, and rents rose at an annual rate of almost 15% in Riverside, Calif. Gateway cities, like New York and San Francisco have not been successful in moving rents up and are well below pre-pandemic norms. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 245 - Where are interest rates going? Listen to JP CONKLIN - INTEREST RATE EXPERT Jun 17, 2021

How much does it cost to borrower money? Interest rates are one of the key benchmarks for overall costs. The interest rate market is a constantly changing environment and strategies need to adapt to these changes. JP CONKLIN with Pensford gives you insight on where interest rates are today and where they are going. If you are going to borrower money to purchase an apartment building…you need to listen to JP CONKLIN. Managing interest rate exposure and maturity risk are two of the most critical components to the success of a project. To contact JP CONKLIN: pensfordteam@pensford.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 244 - 2nd Quarter Loan Officer Roundtable; Is there TOO MUCH MONEY to lend? Jun 09, 2021

The Old Capital Loan Officer Roundtable discussion brings incredible value if you are new to multifamily investing. Listen to some of the most active loan officers in the nation share real lending stories on what is happening today. You and your investors bring in the equity…and your lender brings the majority of the money. Your lender is your biggest partner. Listen to what you can expect from your multifamily lenders today. Should you pursue a BRIDGE LOAN; a FANNIE MAE or FREDDIE MAC LOAN; or a BANK LOAN? Listen to their insight to help you. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, when you first got into multifamily- What was the biggest MISTAKE you made? Jun 07, 2021

Michael explains the LARGEST and COSTLIEST mistake he made in buying multifamily: mismatching his mortgage debt with his business plan. The future is not clear- so you must use past experiences to make future business decisions. Michael thought choosing a longer-term fixed rate loan, with the expectations of interest rates rising in the future, would be a prudent business decision. Unfortunately, it was not. His loan was 10 years…but his business plan was to only keep the property for 3-5 years. Rates remained low and the loan came with a significant prepayment penalty called yield maintenance when they went to sell the apartment building. If he had chosen a shorter loan term with a less onerous pre-payment penalty… he would have saved millions. HE WON’T DO THAT AGAIN! 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, what’s going on in 2021 multifamily today? It STILL seems CRAZY!” May 31, 2021

If you are new or a seasoned apartment investor, Michael explains what he sees in the multifamily market. Low interest rates, higher occupancy, and even higher monthly rents with falling cap rates are making this market whacky. Can it be sustained? Well…probably not…but a lot of capital continues to flow into the market. In some of these markets, we have seen a 30% increase in apartment values. 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 243 - The Saltwater Triangle of Florida (Tampa, Orlando, & Jacksonville) is on FIRE!! Learn from TOP BROKER Jad Richa with Capstone Companies on where to invest May 26, 2021

Jad Richa is a Managing Director with Capstone Companies in Florida. He explains where apartment investors are seeking to buy apartments in the Sunshine State. Great conversation. Non-Recourse Bridge Lending (Debt Funds) is hot! Almost too hot! In the last few months, we have seen a huge rise of bridge lender transactions versus Fannie and Freddie. Listen to why some investors are turning to these short-term bridge lenders. Make sure you know the risks when using a bridge loan. To contact Jad Richa: jad@capstone-companies.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 242 - NASHVILLE NOW! If you think their chicken is HOT…listen to a top apartment broker give you reasons to invest in Nashville Apr 08, 2021

We all know that Nashville is the epicenter of Country Music, but with a huge population influx- it is a national top 10 apartment market. Adam Klenk, with the Capstone Nashville office, discusses the Nashville Apartment Market. James Eng and Clay Allen chat with Adam concerning unique hotel to multifamily conversions, and how buyers are moving up the food chain by purchasing higher quality apartments and finally- how to win deals earlier in the process. To contact Adam Klenk: adam@capstone-companies.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, I want to be a syndicator. Does offering a PREFERRED RATE of return to investors make it easier to raise money? BONUS CONVERSATION with Top Producer Danny Baker with CBRE in Dallas Apr 06, 2021

Structuring investor returns is critical for your success. With tons of capital on the side lines…the historical apartment investor yields are falling. Lots of new investors are living in the past when it comes to investor yields. If you GUARANTEED a higher rate of return to your investors- than what the property is currently earning- you are going to be in trouble. Michael discusses those challenges today and what you should consider. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, what is ‘ACHECK’ with Fannie Mae? How serious is that? BONUS CONVERSATION with Top Producer Pat Jones with Newmark- Austin & San Antonio, Texas Mar 29, 2021

Uh-oh...do not find yourself on the Fannie Mae Bad List of apartment operators. If you get on that list…you can be temporarily or permanently stopped from borrowing with Fannie or Freddie. Both Fannie and Freddie are very, very serious on how you operate and maintain your apartment building. They are your largest partner and require you to continually maintain the asset. If you are black balled from being able to use Agency debt, you will severely handicap yourself from being an apartment syndicator. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 241 - Atlanta has tremendous growth! Want to buy an apartment building in Atlanta? We speak with Atlanta’s top apartment broker Sean Henry Mar 23, 2021

Sean Henry sells apartments in Atlanta for Capstone-Companies. He has decades of experience in commercial real estate brokerage and is someone you want to listen to. Sean gives you the inside information on what is going on in Atlanta. Like- Where are the jobs being created? Where are the largest rent growth submarkets? Never invested in Georgia; what should you know- about the ‘martini glass’ growth pattern in Atlanta? Do you need “hard earnest” money when offering on a deal in Atlanta? Also…Sean gives great insight on how new develop deals are getting done and how the capital stack is put together. To contact Sean Henry: sean@capstone-companies.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, LIBOR is being phased out; what impact will SOFR have in commercial mortgages? Should I be concerned?” BONUS CONVERSATION with JP CONKLIN with Pensford Mar 22, 2021

Secured Overnight Financing Rate (SOFR) is the new index that both Fannie, Freddie and some bridge lenders use for their adjustable rates. Remember, index + profit margin = interest rate. The more stable the index…the more stable the rate. In the last few years, the London Interbank Offer Rate (LIBOR) was the preferred index. BUT…regulators thought that LIBOR could be manipulated and now we have: SOFR. SOFR is consider a ‘less risky’ index. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 240 - Mike Hardage shares his REAL STORIES in apartment ownership. The Good, the Bad & the very Ugly. You want to listen! Mar 05, 2021

Seven years ago, Mike Hardage left the HIGH TECH world and now owns thousands of units either as a passive investor or a sponsor. He speaks from experience after owning and investing in over 58 apartment investments with over 12,000 units…WOW!! Everyone likes to talk about winners, but not everyone likes to talk about the challenges in apartment investing. Mike shares with us real stories on what can go wrong in apartment ownership. A fire, a hurricane & then a large cash call became the ‘trifecta of investor problems’. Hopefully, you- like Mike Hardage- will have more winners than losers in your apartment investing. To contact Mike Hardage: Mike@BradSumrok.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, I was thinking of attending and joining an educational and mentoring group; do you suggest that I do that? BONUS CONVERSATION with John Griggs from Presidium Mar 02, 2021

Michael believes specific education is important before apartment investing. Compressing the learning curve can benefit you as an apartment investor. A mentor can certainly help you. Today, there are lots of education options when it comes to apartment investing. BUT…not everyone that says they are an expert…is an expert. Sometimes, it can be confusing on what program is the best. Michael gives you some inside information that you should be looking to gain from these programs. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 239 - Do you want to INVEST in apartments? You need a SUCCESSFUL APARTMENT TEACHER and MENTOR first. Now… Go Get One! Jan 30, 2021

Airlines will not give an INEXPERIENCED or a NEW PILOT- a 737 airplane to fly- with a bunch of passengers in the back...if they have only flow a Cessna 172. BUT…How many folks do you know-that are trying to buy apartments without first using a qualified and successful instructor and mentor? Hopefully, those investors are NOT learning on your investable dollars. Do not trust someone with your hard-earned dollars if they have not had specific education in apartment investing. Even limited partner investors need to be educated on the “rules of the road” BEFORE they invest. Brad Sumrok has been teaching and mentoring apartment buyers and investors for almost 20 years. He has made his students financially independent by investing in apartments. Don’t risk your money; talk with Sumrok. To contact Brad Sumrok: www.bradsumrok.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 238 - Can you keep your day job and still buy 300+ units? These guys did! Jan 28, 2021

Not everyone wants to quit a job they like when entering into apartment investing. Imagine that you can do both. Own and manage large apartments AND continue to work your corporate job. Everyone loves options. Listen to how these two-W2 employees initially invested in other folks’ apartment syndications and today they buy and operate their own apartments. Wow!! Jeremy Thomason and Prashad Challa explain their journey on acquiring value added apartments and still working a corporate job. Can you do that? To contact Jeremy & Prashad: Info@jarspartners.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Michael, any good deal stories these days?” BONUS CONVERSATION with NICK FLUELLEN with Marcus & Millichap- Dallas Jan 25, 2021

Investors learn many ways. Books, Podcasts, & YouTube videos are great; but listening to apartment investors tell real stories is the best. Today, Michael shares with us some insight on how new managing members start to scale their business. Also listen to a recent challenge that Michael and his group faced with doing a TIC structure. BONUS: Super Broker Nick Fluellen chats with Michael Becker. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 237 - 1st Quarter 2021 Loan Officer Round Table. You Must listen! Part 2 Jan 23, 2021

A fortune cookie once said, “May you live in interesting times!” Today, in the capital markets and the pandemic, we certainly live in interesting times. Your biggest partner in an apartment transaction is the lender. The lender brings to the table about 70-80% of the funds you need to close on your apartment. You want to know what is working and not working for apartment lending. We sit down with loan officers at Old Capital to discuss all types of lending opportunities. Is Fannie & Freddie still lending? Should you consider a Bridge loan to get higher leverage? Are some syndicators having problems in raising investors’ money? If rates are going to be low for a while…should you consider an adjustable rate? A great discussion to listen to. To contact James: JEng@oldcapitallending.com To contact Ricardo: RHinojosa@oldcapitallending.com To contact John: JBrickson@oldcapitallending.com To contact Dave: DWalls@oldcapitallending.com To contact Julie: JPeterson@oldcapitallending.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 236 - 1st Quarter 2021 Loan Officer Round Table. You Must listen! Part 1 Jan 13, 2021

A fortune cookie once said, “May you live in interesting times!” Today, in the capital markets and the pandemic, we certainly live in interesting times. Your biggest partner in an apartment transaction is the lender. The lender brings to the table about 70-80% of the funds you need to close on your apartment. You want to know what is working and not working for apartment lending. We sit down with loan officers at Old Capital to discuss all types of lending opportunities. Is Fannie & Freddie still lending? Should you consider a Bridge loan to get higher leverage? Are some syndicators having problems in raising investors’ money? If rates are going to be low for a while…should you consider an adjustable rate? A great discussion to listen to. To contact James: JEng@oldcapitallending.com To contact Ricardo: RHinojosa@oldcapitallending.com To contact John: JBrickson@oldcapitallending.com To contact Dave: DWalls@oldcapitallending.com To contact Julie: JPeterson@oldcapitallending.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 235 - Michael Becker kicks off his NEW interview show! Meet Brian O’Boyle Sr. with Newmark Dec 28, 2020

Join Michael Becker, a Principal at SPI Advisory, and a Dallas-based Multifamily Operator, who has purchased over 10,000 apartment units and manages over $1 Billion in Assets as he interviews with the best apartment operators, brokers, bankers, and economists in the nation. Michael talks to Brian O'Boyle, Vice Chairman at Newmark about the evolution of the Multifamily Market during his 40 years in the business. Listen to the nuggets, Brian Sr, shares with you! https://multifamilyinvestingshow.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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Mike, I made a mistake; I signed a contract and put $200k in HARD earnest money BEFORE I spoke with a lender. Lender turned the deal down and my $200k is at RISK; any suggestions?” Dec 21, 2020

Well, you probably won’t do that again! If you cannot close; the seller WILL take your earnest money. Before you expose your own money to a possible loss (in this case- without having a creditable lending source) you must have an in-depth conversation with a lending decision maker. Your lender is your biggest partner, and you must get them to invest in the deal, too! Be completely transparent to the lender. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 234 - KC Conway CCIM Economist: “What you can expect in real estate investing in 2021” LISTEN TO THIS ONE! Dec 18, 2020

Need a road map? Before you drive…make sure you know where you are going. Do you really need a map to figure out where this economy is and where it is going? Yes. You. Do. KC Conway creates a map for the real estate investor. KC is the Chief Economist for the CCIM Institute. He shares his thoughts on what you can expect in the future in real estate investing. This is a great conversation with over 500 investors that registered at the Old Capital Speaker Series in December. If you want to watch the video with the slides, https://www.youtube.com/watch?v=rdqE_4UoXPc Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 233 - Do not go to JAIL! 5 Questions to ask a Real Estate Syndication Attorney Dec 16, 2020

Kim Lisa Taylor is a nationally recognized corporate securities attorney, speaker and the author of the No. 1 Amazon best-selling book “How to Legally Raise Private Money". She is the founder of Syndication Attorneys, PLLC and InvestorMarketingMaterials.com, whose purpose is to provide quality legal advice, plain English offering documents and professionally designed marketing materials for clients nationwide. Kim has been the responsible attorney for hundreds of securities offerings

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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.

Episode 232 - What YOU need to know about the Freddie Mac Large ($7.5 MM +) Loans from an expert Dec 08, 2020

Are you BUYING a big apartment building? Trevor is a Freddie Mac apartment loan originator for over 20 years. He wants you to understand why a Freddie Mac loan would be a great option to finance a large apartment building. Why Freddie? Why Fannie? Trevor explains some of the differences between the two non-recourse lenders. As you may have seen, the Federal Housing Finance Agency (FHFA) announced a new cap structure and mission-driven requirements for our business. This mandate reduces Freddie Mac and Fannie Mae’s ability to purchase multifamily mortgages to $70 billion each, or $17.5 billion average per quarter in 2021. Still plenty of money to fund your apartment loan.

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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.

Episode 231 - Mobile Home & RV Parks: Top Listing Broker Robert Denninger explains “WHEEL ESTATE” Dec 02, 2020

Is the apartment market too difficult to buy into? Have you considered investing into mobile home or recreational vehicle parks? Robert Denninger with Marcus & Millichap in Dallas sells mobile home park communities in the Southwest. Over the last 15 years, mobile home parks have created excellent returns for investors. Are those opportunities still available? Robert discusses the 5 things you must know to be a successful buyer of “WHEEL-ESTATE” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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 - “Michael, I’m a fairly new operator, what’s the best way to build a relationship with a listing broker during these crazy pandemic times? How do you find off-market deals?” Nov 24, 2020

In the last 4-5 months the apartment market has been on a tear. Deals are getting done in the best performing segment of commercial real estate. Everyone throughout the world is searching for yield. Investors are putting money into apartments…just trying to get 5-8% cash on cash rates of returns. If you can buy into a 5 cap rate and borrower money in the 3’s…you and your investors can make money. Michael chats about his latest deal and how he was able to purchase it…off-market…or sorta. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” 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. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 230 - What is happening in Atlanta with Clay Allen? Nov 22, 2020

In this podcast we introduce you to Old Capital’s Senior Director in Atlanta: Clay Allen. We listen to his years of commercial lending experience for the last 20 years. He also provided institutional equity and then asset managed large apartment portfolios. Wow!! You need him on your team when purchasing an apartment property in the southeast. Fantastic commercial real estate experience to navigate through some tricky transactions. Clay chats about different opportunistic areas in the Atlanta area that you should be considering. To contact Clay Allen: Callen@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 229 - 2020 Old Capital Conference RECAP; A NEW Networking Opportunity for YOU!! Nov 14, 2020

What a conference! Great speakers, great investing content and a great opportunity to meet new investors. We had it all! Today in the podcast we chat with the organizer of the annual event, James “The Professor” Eng and what was discussed. We recap the 6 hours of apartment conversations with the best advisors in the apartment industry. Also, James invites you to the monthly Old Capital Speaker Series in November. Greg Willett, apartment economist with RealPage, will chat with you about the momentum that apartment buyers and investors are seeing with historically low interest rates. You will especially enjoy the two hours of virtual networking. Meet limited partners! Meet general partners! You are invited to this free event on November 18th. Go to the OldCapitalPodcast.com to register.

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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, if I have $50,000 to invest in a large deal…how do I determine if the general partner is picking the right part of town?” Oct 27, 2020

Mike speaks about the importance of choosing right property management company and picking the right location to invest. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - “Mike… I built my team, I have a local presence in my market, I established a Co-GP partnership with lots of experience, and now I have to sell myself and my relationships to the listing agents, JUST to be considered to be added to Oct 18, 2020

Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 228 - Multifamily War Stories with the Head of JLL’s Multifamily Appraisal Group. 40 years of observation Oct 17, 2020

Tony Lenamon manages ALL the apartment appraisers for JLL’s national practice. He is the guy that lenders, borrowers, brokers, and developers listen to concerning apartment valuation today and in the future. What can you learn from a guy that has been through 40 years within the apartment industry? Wow!! He saw the savings and loan crisis, numerous recessions, and now COVID19. Tony talks about cap rates today, rent control and should you invest in secondary markets? This is a great conversation to soak in his knowledge.

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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 - “Can you still evict tenants for non-payment these days?” Oct 12, 2020

Perhaps. Obviously, it depends where your property is located at and the different state and local laws that are in place with Covid19. Today’s podcast speaks about the updated CDC eviction rules for landlords. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 227 - Get updated on NEW underwriting rules for FREDDIE MAC SMALL BALANCE Oct 09, 2020

“Darryl the Underwriter” helps you understand the different rules for non-recourse lending with Freddie Mac. What can you expect with additional Covid19 reserves? How more money do you need to raise? When is that going away? How can you get your money back? What are the concerns for being a brand-new apartment buyer? How much apartment experience do you need to use Freddie Mac financing? Wow!! Lots of questions. SO…lets get them answered.

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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.

Episode 226 - Buy 5000 units…Sell 5000 units…NOW Build 5000 units. Glenn Gonzales is a Superhero in multifamily Oct 04, 2020

In the podcast today, we speak with Glenn Gonzales and Mike Woodfield of Obsidian Capital. Glenn has the vision and Mike has the muscles to make things happen. You may have heard Glenn’s story or read it in his book- ‘Maintenance Man to Millionaire’; Glen started at the bottom. Yes…he was the maintenance man at a small apartment building. He was making everyone one else rich so why not himself and his family. He saw that owning and managing your own apartment building was the way to make real wealth. Glenn went on to buy over 5000 apartment units. Today…he and his team are building Class A & B apartment complexes. A great story on how you can make it happen. He did it. Can you? To contact John Brickson: JBrickson@oldcapitallending.com To contact Glenn or Mike: https://www.obsidiancapitalco.com/

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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.

Episode 225 - What happens IF the 1031 Exchange goes away after the ELECTION? Yikes!! Sep 20, 2020

Suzanne Baker and Craig Brown are industry experts with 1031 exchanges. They are attorneys and leading authorities on the 1031 exchange. Under Section 1031 of the United States Internal Revenue Code, a taxpayer may defer the recognition of capital gains and related federal income tax liability on the exchange of certain types of property, a process known as a 1031 exchange…BUT what happens if a new American President decides to REPEAL this part of the code. What happens to investors that have used 1031 exchanges for the last 100 years to purchase and rehab real estate? Is it a loop hole that tax payers have used to defer capital gain taxes? Is it a preferential treatment for the “wealthy”? Arguments against the 1031 exchange tend to emphasize the continually worsening financial condition of the federal government, or they highlight the evolution of 1031 away from its alleged true purpose. Under Section 1031, taxpayers can defer capital gain taxes for as long as they hold their property. This can result in the deferral of very large tax liabilities. We speak with the experts on what they know today with the movement to attack or change the 1031 exchange. You want to listen to this podcast. To contact Craig Brown: craig.brown@ipx1031.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 224 - Tim Bates, SHOWS US, how he has created wealth for his investors through buying small multifamily Sep 12, 2020

Tim Bates has always wanted more. He first earned his mechanical engineer degree..and then he and his brother wanted to build homes. They opened up a very successful single family construction company for high end homes. He was building 25-30 homes a year. They achieved tremendous success…but Tim wanted more. He wanted to know about the numbers; the financials. He wanted to better understand the profit and loss. He went back to school and earned his MBA. That’s where he saw the light or better…the numbers. He quickly realized that owning commercial real estate made sense and could be the path for increasing their net worth. So…he guided his family into buying apartments. Tim has done an excellent job in acquiring, rehabbing and stabilizing multifamily properties. Listen to his path for success. To contact Tim Bates: Tim.Bates@worthcre.net Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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….I am a fairly new real estate operator….what should I do first? Aug 31, 2020

Well….you need to find deals and find money! Building relationships with brokers, equity investors, contract attorneys, lenders, physical engineers, & SEC attorney should be your first course of action. Some folks may use LOOPNET to find their first deal and that is OK, but most SERIOUS BUYERS contact listing agents in the market. Don’t be a jerk…this is a small business and word will get around. Sound advice in any business. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and is now a large “owner- of commercial real estate.”

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 223 - PART 2: Want to BUILD a 300+ unit apartment building? THESE GUYS ARE DOING IT and will TEACH YOU! Aug 03, 2020

Lane Beene and Michael Walker are building a $52 million apartment complex outside Austin, Texas. Yes…over 300 units!! Want to learn on how they are doing it? Could you do it? How do you get started? What should you do first; raise the equity? get a builder? find and purchase the land? What do you need to know? Who needs to be on your team? What type of prior ownership experience do you need? How long will it take? Do you apply for a Bank or a FHA construction loan? So much information… that we broke it up into 2 podcasts. Lane & Michael teamed up to form Pilot Legacy Properties. Listen to how they assembled a group of professionals to build a large apartment building in an opportunity zone. Fritz Waldvogel with Colliers Mortgage explains what is important when qualifying for a loan.

To contact Michael or Lane: pilot-legacy.com

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 222 - PART 1: Want to BUILD a 300+ unit apartment building? THESE GUYS ARE DOING IT and will TEACH YOU! Aug 02, 2020

Lane Beene and Michael Walker are building a $52 million apartment complex outside Austin, Texas. Yes…over 300 units!! Want to learn on how they are doing it? Could you do it? How do you get started? What should you do first; raise the equity? get a builder? find and purchase the land? What do you need to know? Who needs to be on your team? What type of prior ownership experience do you need? How long will it take? Do you apply for a Bank or a FHA construction loan? So much information… that we broke it up into 2 podcasts. Lane & Michael teamed up to form Pilot Legacy Properties. Listen to how they assembled a group of professionals to build a large apartment building in an opportunity zone. Fritz Waldvogel with Colliers Mortgage explains what is important when qualifying for a loan.

To contact Michael or Lane: pilot-legacy.com

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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.

Episode 221 - Want to sound SMART around apartment investors? Listen to this guy and repeat what he says Jul 31, 2020

JP Conklin knows interest rates.; in fact, he is an expert. JP is the industry leader for all things interest rate related at Pensford. JP Conklin and Michael Becker discuss the ‘state of the market’ and where interest rates are now and forecast their future direction. This is a timely conversation if you are looking to purchase and finance a large commercial property in the future. The entire world is searching for ‘yield’- a rate of return on their money…and having troubles trying to find it. So far… the only real benefit… through this pandemic to real estate…has been a discount on interest rates. Is it time to take advantage? To contact JP Conklin: Pensford.com

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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….I am a fairly new real estate investor….I keep hearing that I should be buying older apartment buildings that need to be rehabbed because it gives me the highest return to my investors…all the gurus are telling me that…. i Jul 27, 2020

BUT my real question is …should you only focus on investors that want no cash flow - in the immediate future- and then eventually get a capital gain in the future…..OR should you pursue investors that need monthly cash flow today to supplement the lowering of their returns on fixed income? What say you? Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and now a “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - Michael, I keep hearing about the tax benefits on buying apartments; can you explain it to my husband one more time? AND…what is bonus depreciation and when is that going to expire….and if it expires…will it have a negative impact Jul 20, 2020

Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and now a “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 220 - Do you REALLY WANT TO LEARN about apartment investing? Michael Ochstein has been owning, managing large apartment building for over 35 years. Listen to his stories. Jul 12, 2020

There are old pilots. There are bold pilots; BUT…there are NOT A LOT of OLD and BOLD pilots. Michael Ochstein has operated apartment buildings for over 3 decades and is not a BOLD PILOT that takes chances over several cycles. He has done it right and shares his ownership stories. How do you buy and manage thousands of apartment units, keep your personal financial statement clean, raise equity from hundreds of happy investors, never have a foreclosure, put lower loan leverage on the asset and then keep relevant in the apartment business? Listen to this discussion. Michael Ochstein, has seen a “financial crisis or two” over his career and gives his opinion on what is happening now with coronavirus and the impact on rental collections and low interest rates. To contact Michael Ochstein: info@pricerealtycorp.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 219 - At 45 years old…Mike Spotts left his hi-technology job to become a full-time real estate investor. HE HAS NOT LOOKED BACK! Jul 08, 2020

Graduating from college in 1987, Mike Spotts bought his first real estate investment; a duplex. He lived on one side and rented out the other. He was bit with the real estate bug. Over the next 20 years he worked his semi-conductor job and bought lots real estate. In 2009, his tech company offered him a buy out…he jumped out…and jumped into…a full-time real estate investor career. How do you go from buying single family homes to buying large apartment buildings? Mike shares his story on how he purchased several large apartment buildings with fellow investors. He gives you a road map on how he purchased, manages, and raises capital for his next opportunity. Could you do this? To contact Mike Spotts: MSpotts@greystoneprop.com To contact Ricardo Hinojosa: RHinojosa@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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 - Michael, I am starting to see activity in buying apartments; what additional protection language should I add into the LOI? Jun 29, 2020

Michael shares with you his thoughts on negotiating a potential purchase sales contract and what protection language you should or should not add into the terms of the transaction. Michael gives you the insight on what is happening today in apartment investing. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and now a “owner- of commercial real estate.”

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

ASK MIKE MONDAYS - Michael, It is June…how are collections? Are tenants paying later in the month? Any update on what happens when unemployment benefits run out in July? Jun 22, 2020

Michael gives insight on what he is seeing in rental collections and immediate concerns facing multifamily housing like decreasing asking rents and the cut off of unemployment benefits coming at the end of July. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and now a “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 218 - Listen to how TWO HIGH SCHOOL FRIENDS started buying apartments outside of Minnesota Jun 20, 2020

Professional Snowboarder, Dan Brisse, is known for taking risks on the powder. His insane stunts on a snowboard have made him gonzo famous at the X-Games. His business partner and longtime friend, Michael Roeder is a little more conservative…well…a lot more conservative (I think he still wears a tie.) These two buddies came together to create a business relationship that provides housing for hundreds through apartment syndication. Michael and Dan give us their background on how they started with single family homes and then transitioned into multifamily. They now own and oversee hundreds of apartment units in several states. The guys also talk about the benefits of hiring and using a mentor in purchasing apartments

. To contact Dan & Mike: granitetowersequitygroup.com To contact John Brickson: JBrickson@oldcapitallending.com

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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 - Michael, can we expect inflation in apartment buildings in the future? Jun 15, 2020

With so much money spent by the government to keep the nation going during the pandemic; will we see inflation in the values of apartments in the future? Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and now a “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Webcast with John Griggs founded Presidium. They currently own over 13,000+ units valued at over $2BN. Jun 11, 2020

TAKE A LISTEN: Just released from Marcus & Millichap/Old Capital Lending interview John Griggs. Since 2003, John built a solid portfolio of 13,000 units from SFR, Class B and C apartments. NOW, he is building 5500 ground up construction Luxury Apartments. How do you do that? Total Rockstar. Also, listen to RealPage's Greg Willett and CoStar's Paul Hendershot focus on the market trends Nationwide and in Texas. Worth the time investment to be inspired. In this video, John answers questions about: 1) How he transitioned from attorney to Real Estate Investor 2) Starting in 2005 with one 100+ unit DFW deal to 13,000 units today 3) Transition from 3rd party management to self-management during the 2008 recession 4) Raising equity from friends/family to Private Equity 5) Transition from Class B/C to Class A Development 6) Forecasts on interest rates 7) New fund creation 8) Advice for multifamily investors

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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 - Michael, my property taxes and insurance keep going up; how do you fight to get lower annual costs? Jun 10, 2020

Michael discusses the two largest line item expenses…taxes and insurance. It seems like every year these two operating expenses rise. What do you do? Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a former ‘loaner- of money’ and now a “owner- of commercial real estate.” Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Multifamily Investing and Financing UPDATE May 2020 May 29, 2020

James “The Professor” Eng gives you straightforward information on what is happening with investing and financing for May 2020. His discussions include: 1) Financing your first deal 2) Case Study of forming your sponsorship group 3) May rent collection vs. Mar/April 4) FNMA/Freddie Mac/CMBS default data 5) Overview of why deals go on Watchlist and Special Servicing 6) FNMA/Freddie Mac Financing Update 7) Case study on How deals are still getting done Q&A This presentation is on YouTube: https://www.youtube.com/watch?v=rO3gRb4Qw_U&t=488s To contact James Eng: JEng@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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- “What happened to all the ‘DOOMSAYERS’ in March? How are collections for May?” May 27, 2020

Back in March, at the beginning of the coronavirus, many apartment owners thought that rental collections would fall substantially. No Job, No Income, and then No Rent paid…made landlords very nervous. Today, rental collections on many properties have been not been affected significantly. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a ‘loaner’ and now a “owner” of commercial real estate. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 217 - First Time Apartment Buyers Give Advice on Acquiring a 48 unit building in Syracuse, NY. May 27, 2020

Julie Peterson with Old Capital speaks with first time apartment sponsors Gary VanBortel and John Bilinski on their recent purchase of a 48-unit building right before the coronavirus hit. These former single-family investors met at a national multifamily conference and decided to become partners in acquiring apartments. This journey took a few twists over a few months. The seller was in legal trouble, title company would not insure title, initial lender backed out, original property manager was too small for the acceptance of Freddie Mac, asbestos in the floor tiles, and, and, …and. Yikes!! Listen to how they overcame these obstacles and succeeded in closing. Oh, by the way…Then coronavirus hits the month after closing. Great story. To contact Gary VanBortel or John Bilinski: RocCapitalGroup.com To contact Julie Peterson: JPeterson@oldcapitallending.com

Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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.

Episode 216 - Bill Brancucci gives us “inside information” on why he left Wall Street real estate to buy local apartments. His group now owns 1500 units in 5 years. May 22, 2020

Bill Brancucci wanted to get into real estate. After spending almost 30 years in New York doing investment analysis, management, and sales…he jumped into real estate investing a few years ago. Bill discusses his first purchase and his last few acquisitions of apartments. He gives us insight on what mistakes he made and how he eventually recovered. Also, Bill gives useful knowledge on why he purchased properties in Georgia and South Carolina. To contact Bill Brancucci: wbrancucci@citadelgrp.com citadelamerica.com/ To contact John Brickson: JBrickson@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Interview with the owner of 25,000+ units: David Moore of Knightvest Capital May 21, 2020

David Moore never does interviews and rarely shares his secrets in buying apartments. The co-founder of Knightvest Capital has purchased over 110 large apartment buildings and 40,000 units in the last 12 years. He learned a few things that he wanted to share with you. He answers questions about: 1) How we bought his first deal for $12K in 2008 2) Starting his property management company 3) Raising Equity for the first time 4) Transition from Class C to Class A 5) Underwriting standards and return thresholds (IRR targets) 6) Biggest mistakes over the last 12 years 7) April collections and leasing 8) New Acquisitions 9) Forecast for next 2 years 10) Advice for new investors We also visited with a real estate attorney, property tax consultant, and a property insurance advisor. This should be exciting. To contact David Moore: knightvestcapital.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 215 - Did your deal sponsor originally raise $$$ the wrong way through ‘unlicensed capital raisers’? ARE YOU EXPOSED? May 15, 2020

Maurico Rauld is an attorney that advises real estate sponsors on how to legally raise money. Mauricio is the founder and CEO of Premier Law Group, a boutique securities law firm based in southern California. In today’s podcast, we reveal a growing concern that some deal sponsors have raised equity through unlicensed capital raisers. To legally raise capital for a partnership you need to be a licensed Registered Investment Advisor. A registered investment adviser is registered with the Securities and Exchange Commission or a state's securities agency. Unfortunately, some partnerships raised capital from non-licensed folks and now have exposed you and the partnership to some potential legal problems. This is a very important podcast to listen to. To contact Mauricio Rauld: www.premierlawgroup.net Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 214 - Super Passive Real Estate Investor Hunter Thompson discusses how he picks the right “Horse” May 11, 2020

Hunter Thompson invests in different types of real estate, but only as a passive investor. He invests in other sponsors transactions. He is NOT an operator or daily manager of real estate investments. Before he places money into someone else’s partnership; he does incredible amount of due diligence. He is a ‘horse picker’; he looks at the quality of the JOCKEY (operator), the HORSE (apartments, self storage, mobile homes, etc.), and in the right RACE (location of the asset). Most of his ‘horses’ have been winners over the last 10 years. Listen to how he analyzes transactions and how that can help you. To contact Hunter Thompson: asymcapital.com or cashflowconnections.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 213 - Have you heard of LifeStyles Unlimited? Check them out May 06, 2020

Over 50,000 real estate investors; in 7 countries; are members of the LifeStyles Unlimited. LifeStyles is an award winning, national education and mentoring group that has been teaching real estate investors for over 30 years. LifeStyles mentors teach you how to invest in single family or multifamily properties; or both. They instruct you how to successfully operate your rental property with either 1 or 300 units. Many of their students have bought thousands of apartment units. Lynn Murrow joins us on the podcast to talk about how she joined LifeStyles almost 10 years ago as a member and has risen to executive vice president and now leads their team. Listen to her story and how she and thousands of members have achieved financial freedom using the LifeStyles system. To contact Lynn Murrow: lifestylesunlimited.com To contact Ricardo Hinojosa: RHinojosa@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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 - Michael, what asset class is going to take the biggest hit; A, B, C after this pandemic? May 04, 2020

Michael Becker discusses what he is seeing in the apartment investing market today. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a ‘loaner’ and now a “owner” of commercial real estate. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 212 - Reed Goossens moved to the US in 2006; Today he owns 1900 units. Can you do this? May 03, 2020

Advice from a Self-Made Man. Could you go to a foreign country and be extremely successful in real estate? Reed Goossens came to America in 2006 and assembled a large portfolio of apartments. It was not easy. In this podcast, Reed gives us a map to how he did it. He started with a small single family home and then leverage that into a larger property. He discusses the challenges some foreign investors find with lack of US credit and a foreign immigration status. How do you get a Fannie Mae loan? How do you even open up an operating bank account? Reed gives you some solutions. To contact Reed Goossens: reedgoossens.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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

YOU WANT TO LISTEN TO THIS ONE! Learn from Four Battle-Tested Owner Operators. May 02, 2020

We assembled apartment operators that have 37 YEARS, 25 YEARS, 29 YEARS of apartment ownership experience. Experience Counts. Learn from the operators that have gone through a few severe economic challenges in the past. Been There…Done That. In the last 5 years many NEW apartment operators have popped up and bought apartment buildings BUT…not too many of these operators have seen a ‘Black Swan’ event. Learn from the operators that have seen a few. What did they do the last time we went through a recession? How do you know when the right time to start buying is? How do you keep partnerships together during a crisis? How do you avoid getting sued by your partners? How do you keep your personal balance sheet from being wiped out? To contact Nick Fluellen & Bard Hoover: multifamilyadvisors.com To contact James Eng: JEng@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 211 - Brad Sumrok educates thousands of new apartment investors. Listen to what he is advising investors today. Apr 29, 2020

Brad Sumrok is the ‘Apartment King.’ He teaches investors the correct way to acquire, rehab, operate and sell apartment buildings nationwide. He has been investing in apartment for over 18 years and was the 2012 National Apartment Association apartment Owner of the Year. His goal is to “Retire You in 5 Years” by investing in apartments. He has thousands of students in his education and mentoring program. Brad gives you actionable and profitable ideas that you can use to purchase apartments today. To contact Brad Sumrok: BradSumrok.com To contact James Eng: JEng@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 210 - JP CONKLIN: INTEREST RATES ARE NOT GOING UP (for at least awhile) Apr 27, 2020

LIBOR (London Interbank Offer Rate) is a very popular index that many adjustable rate mortgages are based on. Many residential and commercial mortgages are based on this index. When the LIBOR index goes down; the all-in interest rate goes lower. Lower interest rate means a lower debt service. With many other indexes down; how come the LIBOR index is still relatively high? JP Conklin with Pensford Financial is an expert in interest rates. He gives us a breakdown on where rates are today and where they are going…(or NOT GOING). You want to listen to this. To contact JP Conklin: pensford.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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 - Michael, what is happening with quarterly/monthly distributions? Is there a mathematical formula on how you need to retain today? Apr 27, 2020

Michael Becker discusses what he is seeing in the apartment investing market today. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a ‘loaner’ and now an “owner” of commercial real estate. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 209 - Jakob Andersen and Newmark’s Dallas team, closed over $1.8 billion in 2019. Today…not so much. Apr 26, 2020

Jerry Seinfeld’s, very successful television show, was based on ‘nothing.’ Today’s podcast will be about ‘nothing’ too; no apartment sales, no new sales contracts, no lending….so…yada- yada- yada. Jakob Andersen, is a top producer at the Newmark- Dallas office. Is there blood-in-the-street, yet? Jakob says “not yet!…but possibly shortly” Jakob gives you an idea on what some Texas apartment operators are doing today to collect rents. To contact Jakob Andersen: jakob.Andersen@ngkf.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

Episode 208 - What is FortuneBuilders’ Paul Esajian exploring in real estate investing today? Apr 24, 2020

Paul Esajian, with FortuneBuilders, discusses several challenges and opportunities in real estate investing for both single family and multifamily. As one of the founders of FortuneBuilders- Paul has over 15 years of professional experience in the real estate investment and lending industry. Paul and his partners have been involved in over $1 billion of residential and commercial real estate investments during that time frame. FortuneBuilders educates individual real estate investors on how to be successful. To contact Paul Esajian: fortunebuilders.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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.

OVERCOMING MARKET UNCERTAINTY: A 60 minute Conversation with the Apartment Experts. Apr 21, 2020

Nick Fluellen, with Marcus & Millichap and Paul Peebles with Old Capital Lending, lead a discussion with some of the experts in apartment investing during these Covid-19 times. John Chang, national director of Research Services with Marcus & Millichap discussed the big picture with the economy and multifamily investing. John Sebree, heads up the National Multifamily Sales Group for Marcus & Millichap. He overseas hundreds of apartment brokers with Marcus & Millichap. He discussed; Is it a ‘buyers or a sellers’ market? Michael Becker, with SPI Advisory, who has purchased over 10,000 apartment units, spoke about today’s challenges with asset management and rental collections during Covid-19. James Eng, with Old Capital Lending, discussed how Fannie and Freddie have changed some of their underwriting guidelines and what you should know. 1400 investors registered for this conference call to listen to these thought leaders. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. 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 - Michael, on transactions that are CLOSING today, are buyers getting a DISCOUNT on sales price? Apr 21, 2020

Michael Becker discusses what he is seeing in the apartment investing market today. Michael Becker has purchased over 10,000 apartment units between Dallas and Austin Texas. He is a former commercial banker and has a unique perspective of being of a ‘loaner’ and now a “owner” of commercial real estate. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

Episode 207 - 2019 National Apartment Association winner Supriya Sriraman Apr 18, 2020

Imagine winning Best Property in the Country Award by the NAA (National Apartment Association) Yes…that National Apartment Association. Their review looks at thousands of apartment properties in the nation. She won the 2019 award for Independent Rental Owner of Year with less than 250 units. She won on a 52 unit property called The Brix in Dallas. Supriya Sriraman tells you how it was done. She was in the high technology business and transitioned into property ownership and asset management. She keeps a close eye on her and her partners investment. She explains how she is managing her properties through the challenges with rental collections and leasing with the Covid 19 backdrop. She is the Queen of Apartments. She earned it. To contact Supriya Sriraman: RedbrixPropertyGroup.com

Did you raise money in a syndication to buy real estate? Don’t want to get into trouble? Listen to attorney Gene Trowbridge Apr 15, 2020

Gene Trowbridge is a syndication attorney. He helps general partners legally raise money through a Private Placement Memorandums to invest in real estate or other investments. Gene gives you a breakdown on structuring questions what general partners should be discussing with their syndication attorney. What’s your business plan? Where are the raised funds going to be invested in? How are the distributions going to handled? How much authority will the general partner have in this syndication? It is critical to understand your operating agreement documents and what authority the general partners has. You may want to review those documents…and find out if you are obligated as a limited partner to a “capital call” IF the property does not have available cash flow to pay expenses. This is an in-depth interview with a James “The Professor” Eng and Gene Trowbridge during the Covid 19 crisis. To contact Gene Trowbridge: http://crowdfundinglawyers.net To contact James Eng: JEng@oldcapitallending.com

Episode 206 - Chief Economist Greg Willett discusses “When the World Changed and the IMPACT on Apartments” Apr 13, 2020

Greg Willett, Chief Economist with Real Page, discusses the three phases of action that apartment owners have had to immediately implement: 1) safety for employees and tenants. 2) keeping continuity with the business through virtual leasing tours with a smaller staff and the business office shut down 3) assess the damage and how to mitigate. Greg, chats about tenant retention and the challenges of future rental income growth. He reminds us what happen during the last great recession about 10 years ago. Listen to Greg and learn. To learn more on RealPage: RealPage.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.

UPDATE: Hear it directly from the LENDERS and the APPRAISERS! Apr 08, 2020

Old Capital had a conference call with hundreds of our borrowers last Friday. They, like you, wanted to know what is going on within the capital markets. How do you underwrite apartment transactions today? What are the new guidelines on replacement reserves? How are values holding up? Is it time to start buying again? We brought together the representatives from Dougherty Mortgage, a large balance Fannie Mae lender and Sabal Capital, a Small Balance Fannie Mae and Freddie Mac lender. We spoke with their representatives on underwriting, asset management and the future of the capital markets with Fannie and Freddie. Listen to this podcast. To contact Ricardo Hinojosa: RHinojosa@OldCapitalLending.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.

Coronavirus Impact on Multifamily- Stimulus Program PPP vs. EIDL Apr 06, 2020

These are crazy times, huh? The economy went from going 100 miles an hour… to ZERO. Now, our government is trying to get small business owners back to work. The SBA offers the Paycheck Protection Program (“PPP”) and the Economic Injury Disaster Loan Program (“EIDL”). What should you know? What are some of the benefits and challenges for both programs? James “The Professor” Eng shares with us the initial overview of both programs. To watch this video: https://www.youtube.com/watch?v=xPrsYVBCPwM To contact James Eng: JEng@oldcapitallending.com

Old Capital Bonus Segment: Command Authority with Lane Beene- “In the future, how will the Coronavirus-change us as apartment investors and operators?” Apr 04, 2020

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. Lane Beene discusses his insight and vision on what tenants will expect post-Covid 19 pandemic. What can you expect for future rent increases? How will your tenants interact with management, maintenance and other tenants? Ask your tenants, on how they want to be treated. Find out what your tenants expect from their landlord post Covid 19; it will determine how successful you will be on keeping those paying tenants. To contact Lane Beene: Lane.Beene@pilot-legacy.com

Coronavirus Impact on Multifamily - $2T Stimulus Update and Trammell Crow Lessons Learned from 1989 Apr 03, 2020

Don’t you wish you knew 6 months ago…what you know today? What would you have done different? Would you do recourse commercial loans? Would you do higher leverage transactions? Would you raise more liquidity? James “The Professor” Eng goes into detail on what lessons commercial real estate investors learned on the last major melt down in 1989. This is a very interesting podcast that you will learn a few key lessons. To watch this video: https://www.youtube.com/watch?v=FMN3jJZo6GU To contact James Eng: JEng@oldcapitallending.com

Episode 205 - Interest rate update from JP Conklin at Pensford Financial. What you need to know! Mar 30, 2020

Who has money to lend on real estate these days? CMBS, Fannie, Freddie, regional banks? When the economy grinds to a halt; who lends money on commercial real estate? Are transactions actually being done? JP Conklin advises commercial real estate investors on the direction of interest rates. His group, Pensford Financial Group helps investors reduce interest rate risk. JP Conklin discusses pressures that many “securitized” lenders are challenged with right now. To contact JP CONKLIN: pensford.com To read JP Conklin’s most current newsletter: https://www.pensford.com/why-flattening-the-curve-is-overrated/ 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.

How has the COVID 19 effected commercial real estate valuations? Mar 27, 2020

Jeremy Roll has been investing in commercial real estate for over 18 years. He is an 100% passive investor and has invested in over a hundred different partnerships. He is a very savvy investor and has a well thought out perspective. (He is as sharp as they come.) In this podcast, James “The Professor” Eng discusses the challenges that commercial real estate investors will face with COVID 19. What will its impact be on real estate valuations and the general economy? You must listen to this podcast! To contact Jeremy Roll: JRoll@Rollinvestments.com To contact James Eng: JEng@oldcapitallending.com To Watch: https://www.youtube.com/watch?v=elxzcXUXDgk&t=125s

Surviving Scary Times with the Coronavirus in Multifamily Mar 25, 2020

Today, you need direction and confidence to handle the Scary Times ahead in multifamily real estate. James “The Professor” Eng discusses Dan Sullivan’s “Scary Times Success Manual.” James gives you 10 simple tips that you should follow. It can be tempting to focus only on surviving through difficult times, but with these tips in mind, we’re confident you can keep on thriving. Right now, that means providing the leadership you need to navigate successfully through the current global climate and combatting any feelings of fear, anxiety, and uncertainty. To contact James Eng: JEng@oldcapitallending.com To watch: https://www.youtube.com/watch?v=19e82oh3Ya8

Impact of Coronavirus on Multifamily: What Apartment Operators Must Know Now! Mar 23, 2020

As the situation around COVID-19 continues to evolve, we recognize that these are unprecedented times that most apartment operators have never been through. They don’t know, what they don’t know. James “The Professor” Eng explains what committed operators must do to keep their property cash flowing. This is up to the minute advice that all operators must heed. To contact James Eng: JEng@oldcapitallending.com

ASK MIKE MONDAYS - SPECIAL EDITION - Mike, How bad is this coronavirus going to be on apartments? Mar 21, 2020

This special edition focuses on what LIMITED PARTNERS and GENERAL PARTNERS can possibly expect with the impact of the coronavirus on apartment investments. You will want to listen to this.

Old Capital Bonus Segment: Command Authority with Lane Beene- “Meet Top Producing Apartment Listing Agents at Rowan Multifamily Advisors.” Mar 06, 2020

Rowan Multifamily Advisors (RMA) is a full-service real estate brokerage company for the acquisition and disposition of multifamily assets in North Texas. They focus on ‘B & C’ multifamily properties. This family owned company is led by a North Texas apartment industry legend in Mike Burch. RMA was started in 2012 by Mike Burch, his son Coleton Burch and industry veteran Pete Hartnett. Mike has been selling and buying apartments for clients since the early 1980’s. Today, this regional apartment brokerage company has over $400 million in transactions under contract. Listen to their ‘hustle’ attitude for success. To contact Coleton Burch: coleton@rowanmultifamilyadvisors.com To contact Rowan Burch: rowan@rowanmultifamilyadvisors.com To contact Lane Beene: Lane.Beene@pilot-legacy.com

Episode 204 - New 2020 Underwriting Rules for Small Balance Fannie Mae and Freddie Mac loans explained Feb 22, 2020

Rickey is an underwriter/ gate keeper for a Small Balance Fannie Mae and Freddie Mac lender. He is an expert in providing smaller, non-recourse loans between $1,000,000 - $6,000,000 with the Agencies. Rickey explains what some of the new underwriting rules are for apartment buyers for 2020. Is Fannie Mae better? Is Freddie Mac better? Rickey helps you decide what loan could be a better choice for your current acquisition or future refinance. When deciding on the right type of apartment financing; make sure you understand the benefits (non-recourse, 30-year amortization, higher leverage) and future hard costs (if you want to payoff early) on each loan product. Making the wrong product decision could be painful and costly. 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 - Michael, a couple questions for you; 1) How many mortgage brokers should I work with? 2) Have you dealt with a fractured condo; what do I need to know? 3) I want to self manage my apartment building, but the lender will not let me- any Feb 18, 2020

Michael discusses and answers some of the questions that you asked.

Old Capital Bonus Segment: Command Authority with Lane Beene - “How do you select and evaluate a new property management company?” Feb 13, 2020

Good apartment property management is critical for your success. In today’s discussion Lane speaks with Michael Walker with Walker Holder Residential Property Management. Michael has been in property management since 1981 and currently manages thousands of apartment units. Where do you start to find a property management company? How do you get a referral to the right group that is going to manage your asset? What are the hiring criteria you must look at? How much involvement should the owner have with the property management company on a daily, weekly, monthly basis? This is important in defining everyone’s roles. What monthly reporting is pushed over to the ownership group? What should you expect? This is a good high-level discussion. To contact Michael Walker: walkerholder.com To contact Lane Beene: Lane.Beene@pilot-legacy.com

ASK MIKE MONDAYS - Michael, I just recently sold a property that I owned 100%…and did a 1031 Exchange transaction and now I want to invest into an apartment syndication; can I do that? Feb 08, 2020

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.

ASK MIKE MONDAYS- Michael, I am now ready to go and need to find a business partner to share responsibilities with and raise equity; how do I find that? Feb 02, 2020

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.

ASK MIKE MONDAYS - Michael, I want to get involved in apartment investing BUT…I have credit issues with a prior bankruptcy…any solutions or suggestions? Jan 26, 2020

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.

Episode 203 - Avoiding ROOKIE MISTAKES with Joey Tumminello at Marcus & Millichap IPA’s group Jan 24, 2020

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.

ASK MIKE MONDAYS - Michael, we just entered 2020; ANY CONCERNS with investing in apartments these days? Jan 20, 2020

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.

Episode 202 - WHAT IS A GOOD DEAL? WHAT IS A BAD DEAL? Can you size an apartment deal? Spencer Burton makes you look smart with sizing & modeling exercises. This is a must listen! Jan 14, 2020

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

ASK MIKE MONDAYS - Michael, I just closed on my second property in Kansas City and now I want to explore buying opportunities in Oklahoma City and Indianapolis- my business partner and I live and work in San Jose; what do you think about those markets? Dec 30, 2019

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.

Old Capital Bonus Segment: Command Authority with Lane Beene - “Lessons Apartment Operators LEARNED in 2019 and How to PROCEED in 2020.” Dec 26, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. In today’s podcast, Lane looks back on 2019 and discusses some investing lessons he learned this year. He gives you a realistic takeaway on rates of returns that investors should expect when investing in class B & C apartments in north Texas. Lane talks through 2020 and gives you some insight on some economic indicators that you need to recognize before investing. To contact Lane Beene: Lane.Beene@pilot-legacy.com

ASK MIKE MONDAYS - Michael, PRICES of apartments are awfully high; when will they stop rising and start coming back down? Dec 23, 2019

Are apartments values and prices too high? Michael chats about the direction of the apartment industry today. Do we have enough apartment supply? Too many apartments being built; too little? A lot of the apartment value is based on the expectation of job growth. What geographic areas do you want to invest in- has job growth? Also...follow Michael Becker’s rule #1: Don’t buy in the hood!

Episode 201- This immigrant came to America with $2000; now he owns lots of apartment units Dec 20, 2019

Benit Gupta was born in Nepal. He came to America for a better life with only $2000 in his pocket. He put himself through college and got into the rat race. After 10 years…he and his family wanted something different; he wanted to use real estate to build wealth and passive income streams. He did not want to make a costly investing mistake…so he became a member of a national education/mentoring organization. YES… he paid a fee to join and received specific education on apartment investing. In the bigger picture…it was a small fee… relative to a potential very expensive lesson that could have crippled him. Today, using his real estate education, he invested passively in several transactions and has been a general partner on a few of his own. Wow! Not a bad…American success story. 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.

Old Capital Bonus Segment: Keeping it Real with Darwin German- “After owning and managing apartments for 30 years; let me give you a few steps to success!” Dec 10, 2019

Darwin German is a PROUD apartment syndicator. He has been investing, operating and brokering commercial real estate for over 30 years. In the past, he has owned or managed over 8000 units. Today, through investor syndication he delivers housing to over 1500 families. He has over 400 individual investors and provides a living wage to his 50 employees. He is filled with great stories in owning and operating apartment buildings. In today’s podcast Darwin gives a quick mental checklist on getting a transaction completed. He shares the purchase of Saginaw Crossing Apartments in a suburb of Fort Worth and its crazy back story.

ASK MIKE MONDAYS - Michael, on an acquisition have you ever had the SELLER CARRY-BACK the loan? Dec 09, 2019

Occasionally, seller financing is an option to purchase a multifamily property. The seller becomes the lender. A regional bank…or Fannie Mae is not used to finance an apartment building. Michael discusses what he is seeing today in today’s market and why or why not seller financing is used.

Episode 200 - RECAP of the 2019 Old Capital Conference. Before you invest; LISTEN TO THIS PODCAST Dec 05, 2019

James “The Professor” Eng goes through the highlights of the two-day 2019 Old Capital Multifamily Conference at the House of Blues in Dallas. Almost 700 apartment investors attended the annual networking and educational event at the end of October. James gives you a breakdown of the different speakers and topics that were featured. Kim Betancourt, top economist with Fannie Mae, spoke about apartment demand and what you should be looking for today. Michael Becker hosted the top producing apartment listing brokers in Texas. Paul Peebles spoke with the most active apartment bankers and what they are lending on today. Brian O’Boyle Sr. moderated the “Rocking Chair Panel.” These five apartment owners and managers, have been active for over 30 years, gave great advice to the newer apartment investors. Finally, college football icon, Lou Holtz spoke about “doing the right thing” for your investor partners, lenders, and tenants. Wow! This was a wonderful conference; hopefully you will be able to attend next year. Watch this short video: https://www.facebook.com/7917265/videos/10114240630948300/ 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 - Michael, a new apartment syndicator wants me to invest into her deal, but she was not going to invest any of her own money into the deal; what do you think of that? Dec 02, 2019

Michael shares his opinion of a syndicator that doesn’t put any of their own funds into a deal, but wants you to invest your money. Some new apartment syndicators or new managing members are under the impression that they do not need to put any of their own money into a deal that they are putting together. Michael, gives a lending war story or two from years ago when he was a banker.

ASK MIKE MONDAYS - Michael, the holidays are upon us…what should we do for our investors? Nov 25, 2019

Investors will only invest with you when they know, like and trust you. Perhaps a holiday party would be a good opportunity to build a deeper relationship with your investor. The guys discuss a “relationship building” activity that some investment groups use around the holidays.

Old Capital Bonus Segment: Keeping it Real with Darwin German- “What could possibly GO WRONG in apartment investing?” Nov 22, 2019

Darwin German is a PROUD apartment syndicator. He has been investing, operating and brokering commercial real estate for over 30 years. In the past, he has owned or managed over 8000 units. Today, through investor syndication he delivers housing to over 1500 families. He has over 400 individual investors and provides a living wage to his 50 employees. He is filled with great stories in owning and operating apartment buildings. In the coming podcasts, Darwin, will share some of those lessons he has learned. He is an open book. Today, in the podcast, Darwin will give you his background on how he came into the apartment industry. He provides a few educational pointers to potential apartment owners and operators and then shares a crazy story about his first apartment purchase. To contact Darwin German: Darwin@darwingerman.com

ASK MIKE MONDAYS - Michael, I listened to an apartment guru recently and he spoke about cost segregation and bonus depreciation; I had troubles following the idea...can you explain it to me in plain English and how it can help me as a w2 engineer? Nov 18, 2019

Michael discusses another reason to invest in commercial real estate. Bonus depreciation can have a great impact on you. Please chat with your personal financial adviser or tax professional on what investing into a “hard asset” can do for you.

Old Capital Bonus Segment: Command Authority with Lane Beene - “What QUESTIONS SHOULD YOU ASK a real estate syndicator?” Nov 15, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. In today's podcast, Lane discusses how you can QUANTIFY a good apartment operator. What questions should you ask? How do you determine that a sponsor won’t lose your money? Does this operator know what they are doing? Lane frames his questions through his four pillars of real estate investing 1) strategy, 2) market, 3) team, and 4) property. Lane examines ‘What are personal opinions versus facts’ when apartment syndicators answer your questions. Making an investing decision can be difficult, but Lane gives you some questions that you need to ask…before you hand over your hard-earned money. To contact Lane Beene: Lane.Beene@pilot-legacy.com

Episode 199 - Hunter Thompson: “What could you learn from a very active - but PASSIVE REAL ESTATE INVESTOR?” Nov 07, 2019

Not everyone wants to be the captain of the airplane. Most folks want to be in the back of the airplane enjoying the flight. A passive investor wants to enjoy their equity investment. Today, in the podcast, we chat with Hunter Thompson with Asym Capital. His group ONLY invests into real estate transaction as a passive investor. What could you learn from a passive investor? Why do they invest in a real estate transaction? Do they have a checklist of questions they ask the deal sponsor to get comfortable? Hunter speaks about the 7 stages of being a passive investor. BEFORE you invest… You must complete due diligence on 1) the Sponsor 2) On-site manager 3) Loan Terms 4) Property Proforma & Historical Performance 5) Current Market & Submarket 6) Physical Due Diligence 7) Understanding the PPM and Operating Agreement. Passive Investors will invest in real estate opportunities when they KNOW, LIKE & TRUST the sponsor and the deal. Start asking questions. www.raisingcapitalforrealestate.com is where you will find Hunter Thompson’s new book. 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

Old Capital Bonus Segment: Command Authority with Lane Beene - “How can you lower your RISK EXPOSURE when investing in apartments?” Nov 05, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. Risk. In life we all face some amount of risk. Risk should come with a reward. Too much risk exposure…could have detrimental affect on you and your investment. Risk can be analyzed, calculated and adjusted. In the podcast today, Lane discusses how to correctly understand risk. Longer Time, Lower Leverage, & Having a Cash Cushion can help to reduce risk. To contact Lane Beene: Lane.Beene@pilot-legacy.com

Old Capital Bonus Segment: Command Authority with Lane Beene - “To make BIG MONEY in real estate…you must know some Basic Math Equations!” Oct 17, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. Lane is an expert in math- he had to be. As you can imagine, Lane needed math in flying fighter jets. Think of the calculations that Lane used in aviation: How many gallons of fuel did he burn in one hour; what’s the max weight (bombs) could his aircraft hold? How fast could he get to his target? Life comes down to JAMP. Yes, ‘Just A Math Problem.’ The better you are in math, the more successful you will become in real estate. Whether you are flying fighter jets or investing in apartments; you must know some level of math. Lane breaks down five investing equations that are critical to your success. Cash on Cash Yield, Total Return, Cash Flow, Internal Rate of Return and Equity Multiple are discussed. To contact Lane Beene: Lane.Beene@pilot-legacy.com

ASK MIKE MONDAYS - Michael, before I push over a LETTER OF INTENT to the seller’s rep; how in-depth should I go with my lender? Oct 15, 2019

Investors are counting on your underwriting to make a prudent decision to invest with you. How confident are you in your transaction underwriting and loan sizing? Who is checking your math? Before you submit an LOI…and possibly RISK your earnest money and reputation, make sure you speak with an apartment LENDER to have them check your math.

Old Capital Bonus Segment: Command Authority with Lane Beene - “What type of investor do you want to become; DEAL SPONSOR or LIMITED PARTNER; VALUE ADDED or YIELD?” Oct 08, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. In this podcast Lane shares his personal journey on how he became a millionaire apartment investor. With a full time and demanding job in the military, he started by educating himself on real estate investing first. He read articles online and listened to podcasts that focused on apartment investing. He began with a limited pot of investable dollars. During this time, Lane began aggressively networking with other investors. He went to many MeetUp’s and real estate net working events. He also joined a local real estate mentoring group. Over a period of time he became confident…that he purchased his first small 23 unit apartment building. One building, became a few and now, Lane owns several apartment buildings. Its not a race…its a journey!

ASK MIKE MONDAYS - Michael, how long does it take to be educated, prepared and confident to become a deal sponsor? Oct 07, 2019

Successful investors send back road maps to folks following them. Michael, discusses some steps that you need to follow. How do you go faster? Having the right mentor can significantly reduce the time it takes to go faster. Learn from educators that have real life experience in apartment investing will help you from making bad and costly mistakes.

Episode 198 - 4th Quarter Loan Officer Roundtable Oct 07, 2019

A fortune cookie once said, “May you live in interesting times!” Today, in the capital markets, we live in interesting times. Your biggest partner in an apartment transaction is the lender. The lender brings to the table about 70-80% of the funds you need to close on your apartment. You want to know what is working and not working for apartment lending. We sit down with the loan officers at Old Capital to discuss all types of lending opportunities. Is Fannie & Freddie still lending? Should you consider a Bridge loan to get higher leverage? Are some syndicators having problems in raising investors money? If rates are going to be low for a while…should you consider an adjustable rate? A great discussion to listen to. To contact James: JEng@oldcapitallending.com To contact Ricardo: RHinojosa@oldcapitallending.com To contact John: JBrickson@oldcapitallending.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 - Michael, what are the worse case scenarios as a General Partner or Limited Partner if an apartment transaction goes bad? Sep 30, 2019

Michael gives examples on what can go wrong when investing in an apartment transaction.

Episode 197 - Great Story: One woman’s journey leads to unbelievable opportunities for her family Sep 28, 2019

How Jiu was never supposed to go to America. But in an incredible twist of fate during China’s Civil War in 1928, she set sail for San Francisco from Southern China, never to return to her family again. Only 18 years old and traveling under a false identity, How Jiu had to pass a grueling test before she was allowed to enter the United States. How Jiu married and raised a successful family in Northern California. Her journey changed everything in her life and future generations of her family. Just one step made all the difference. How Jiu’s granddaughter, Heidi Fong Young, tells her story and expands on some of the similarities she has with her grandmother. Taking a prudent risk could provide you a better life. To contact Heidi Young: heidi@ecceventures.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 - Michael, how can I negotiate with the lender on a PCA report? (Property Condition Assessment) Sep 22, 2019

When you purchase an apartment building, your lender typically requires a PCA. (Property Condition Assessment). The PCA is the eyes and ears for the lender. Yes, the appraisal verifies the value, but the PCA identifies health and safety issues on the property. Can someone get hurt on your property because of the existing deferred maintenance. It also determines the amount replacement reserves that the lender will need to collect with your monthly payment. Michael, discusses items that you need to know within the PCA report.

Episode 196 - Yes, you can have a FULL-TIME W2 job and own and operate a 143 unit building from across the country Sep 19, 2019

Tony Lin lives and works in the San Jose area. He has a full time job as a computer software engineer. A few years ago he wanted to invest in single family homes outside of California. His business partner, Helen Lin, introduced him into the concept and benefits of multifamily investing. After seeing how the numbers worked and how you can make money in apartments…he was hooked. He invested, as a passive investor, in 10 apartment transactions. Helen introduced him to successful apartment syndicators Ken & Wind Yue. The Yue’s own over 2000 units. Ken & Wind took Tony and Helen under their wing and helped them sponsor their first deal. They acquired a stabilized, class B-/C+ property in Arlington, Texas in 2018. Tony explains how he structured their first transaction and how he operates the property from over 1700 miles away. To contact Tony Lin: LINK.MULTIFAMILY@GMAIL.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 – Michael, I heard there are new rent control legislation in some states; what’s going on in New York City? Sep 15, 2019

Michael chats about current and future rent control issues that apartment owners are facing today. Tenants are concerned about affordability. Landlords are concerned about providing a return on capital to their investors. Politicians are creating new rent control laws. State of California Rent Control: https://www.nytimes.com/2019/09/11/business/economy/california-rent-control.html?searchResultPosition=1 State of New York Rent Control: https://www.nytimes.com/2019/06/12/nyregion/rent-regulation-laws-new-york.html?searchResultPosition=4 NYC Landlords Respond: https://www.npr.org/2019/07/17/742875001/new-york-landlords-call-rent-control-laws-an-illegal-taking-in-new-federal-lawsu

Episode 195 - What happens if $$$ from Fannie Mae or Freddie Mac dries up? You need options, right? Sep 13, 2019

Your lender is usually your largest partner. They can bring in almost 80% of the funds needed to close your apartment transaction. In the last, few years Fannie Mae and Freddie Mac have been the primary lender for apartment syndications. Sponsors have loved Fannie Mae and Freddie Mac because of their execution and flexibility to provide NON RECOURSE, LONG FIXED TERMS, LONGER AMORTIZATION, INTEREST ONLY & SUPPLEMENTAL LOANS. But, what happens IF these Government Supported Entities start to restrict lending. What happens when your lender changes course? We discuss what is happening in the apartment lending market today and what additional loan options you can explore. US Treasury Update on Future Proposals for Fannie & Freddie: https://home.treasury.gov/system/files/136/Treasury-Housing-Finance-Reform-Plan.pdf https://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Revises-Multifamily-Loan-Purchase-Caps-for-Fannie-Mae-and-Freddie-Mac.aspx 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 - What is going on with the 10 year treasury coming down and what will the impact be on apartment transactions? Sep 09, 2019

10 year treasury is the primary index that Fannie & Freddie use for 10 & 12 year fixed rates. Michael goes into detail about the impact of falling rates will have on the economy. Also, Michael discusses a real-life apartment example on what happens when interest rates fall on a sale.

Episode 194 - Where are LONG and SHORT interest rates headed? Interest Rate Expert, JP CONKLIN with Pensford, explains what commercial real estate investors need to know Sep 06, 2019

JP Conklin, with Pensford, advises some of the largest commercial real estate investors in the nation on where interest rates are headed. He lowers interest rate risk to commercial real estate borrowers by using different hedging strategies. His information is critical for investors to make the correct decision on the right loan product, maturity and risk tolerance. JP discusses falling interest rates and the general impact that it will have on future commercial real estate investing. Are we going to get a half point reduction from the Fed on October 30th? What will happen next year to rates? If you are a general partner, how do you hedge your risk? Should we take a FIXED or ADJUSTABLE rate? Listen and take notes from this discussion; because your limited partners will want to know. To contact Pensford: Pensford.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.

Old Capital Bonus Segment: Command Authority with Lane Beene - “Learning TAX STRATEGIES will help you become a better millionaire.” Sep 05, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US Air Force Academy and flew combat F16’s for over 28 years. Less than 15 years ago, 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. Why do so many millionaires own real estate? Tax advantages! Today, Lane discusses several tax advantages by owning investment real estate. This high level discussion brings some important theories that successful investors have used in the past. Please consult with your financial professional on what tax strategies will work best for you.

ASK MIKE MONDAYS - Mike, you have motivated me to buy apartments. I want to be like Michael Becker… “What can you expect from your lender AFTER you close?” (Episode 5B of 5) Sep 01, 2019

When you buy a single family house, AND AFTER THE LOAN CLOSES, your lender will not continuously ask for your updated paychecks, bank statements and annual income tax returns. BUT...in apartment transactions…you lender is your single largest partner and needs continuous financial performance information on you and the asset either on a quarterly or annual basis. Updated operating statements, rent rolls, rehab construction updates, immediate health and safety concerns, updated personal financial statements, personal tax returns are some of the data points collected. Also, be prepared for an annual lender visit to your asset.

Episode 193 - Smart Investors listen to Apartment Economist Greg Willett at Real Page. Will you? Aug 31, 2019

Apartment Bankers, Developers and Investors listen to Real Page’s Chief Economist Greg Willett. He is probably the most quoted Apartment Economist in the nation. He has the ear to the movers and shakers in multifamily. Greg discusses the state of todays apartment market. Are we headed into a ‘recession?’ What should an apartment investor do, if we are headed to lower job growth? What areas of the country have the greatest rent growth? Where should you invest? He also breaks down several regional areas with lower job growth and occupancy concerns. Greg discusses the challenges that new laws in New York will have on stabilized apartments and the investors that own them. JC Castillo, with the Apartment Investors Network joins the conversation. To contact Real Page: RealPage.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.

Old Capital Bonus Segment: Command Authority with Lane Beene - “What is a 1031 Tax Deferred Exchange; and How do you use it in Apartment Investing? Aug 27, 2019

Lane Beene is with Pilot Properties and owns almost 700 apartment units. This recently retired Lt. Colonel graduated from the US 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. A 1031 exchange is a way to defer paying capital gains tax on the sale of property under Section 1031 of the Internal Revenue Service code. Lane discusses what savvy investors use as a ‘tool’ to defer capital gains on the sale of real estate. Lane is not a tax advisor, but will introduce you to the high level concept of what he has done in the past with tax planning. Please contact your financial advisor for a more in-depth discussion on your own situation. To contact Lane Beene: lane.beene@pilot-legacy.com

ASK MIKE MONDAYS - Mike, you have motivated me to buy apartments. I want to be like Michael Becker… “Time to close the transaction…What you need to know?” (Episode 5A of 5) Aug 25, 2019

‘Herding Cats’ is a great way to explain to new borrowers on how a loan closing happens at the very end. As you can imagine, many different folks involved in the transaction have different responsibilities. Title, New Management, Lender, Attorney, Borrower are all going in 20 different directions. Michael goes into detail on what you need to know and do when preparing for a transaction to close.

Episode 192 - After 20+ years in CORPORATE AMERICA….NICOLE SCOTT is NOW a FULL TIME APARTMENT INVESTOR. How did she do it? Aug 23, 2019

Nicole and Greg recently closed on a 272 unit building in Indianapolis. They have been corporate folks in Detroit for 20+ years. After surviving a few corporate layoffs (did I mention- they both worked in the auto manufacturing business) they looked for a better way to retire. They purchased a few single family homes and then invested in a few apartments; as a passive investor. They learned a lot from their multifamily mentoring and education group and decided to buy their own apartment building. After successfully navigating a smaller deal…they decided to purchase a 272 unit building- 4 hours from their home in Detroit. Nicole and Greg share their CHALLENGES they found before AND after they closed. Today, Nicole has retired from the RAT RACE and is now a full-time apartment investor. Great story! To contact Greg and Nicole: drivehomecapital@gmail.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.

Old Capital Bonus Segment: Command Authority with Lane Beene - “How do you read an OPERATING STATEMENT & What’s IMPORTANT in that data?” Aug 12, 2019

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. The operating statement (PROFIT AND LOSS) shows the line items of operating income and operating expenses. Lane discusses the foundational document that helps you identity the financial performance and presents the true profitability of the apartment complex. To contact Lane Beene: lane.beene@pilot-legacy.com

Episode 191 - Living the AMERICAN DREAM….Four immigrants bought 1400 apartment units in Texas. These EX-ENGINEERS are just like you…MOTIVATED to SUCCEED! Aug 06, 2019

Boris, Oshi, Albert and Leo are friends. These friends have purchased over 1400 apartment units over the last 5 years. They just closed on a 384 unit building called Rolling Hills in Lancaster, Texas. They have come along way from their first purchase of a two property portfolio of 55 units. Recently, these EX-ENGINEERS are now full time apartment investors. WOW! Can you do that? It was just a few years, while living in California, they wanted to invest in real estate but didn’t like their local rental climate (not landlord friendly) and discovered Texas. They started the traditional route of real estate investing by buying single family homes…and then transitioned into apartments for scalability. The guys go into detail on some of the challenges they came across (a failing two-pipe chiller, hot tenants & city inspectors) on a couple of acquisitions. They have had many successes in owning apartments. Listen to how they systematically purchase, operate and sell apartments to benefit their investors. To contact: connectwgi@wealthgrowinvestments.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… Now what do I do…AFTER the seller accepts my LOI? (Episode 4 of 5) Aug 05, 2019

Michael explains what you need to do AFTER the seller accepts your LOI. Download Michael’s DUE DILIGENCE checklist at the OldCapitalPodcast.com

Episode 190 - The “Geeks” will inherent the earth. Listening to Multifamily Technologist and Apartment Syndicator Neal Bawa will make you smarter Aug 04, 2019

Neal Bawa is a thought leader in multifamily. This self described “data geek” owns and operates a large apartment portfolio. By using technology and optimization of data, Neal shares what he is doing to create higher rents and a better experience for his tenants. Have you heard of reputation management? How many STARS did your property get? Everyone rates services these days. Restaurants, dentists, auto mechanics and even their apartment experience. Neal discusses the impact your property receives from its online tenant reviews. How do go from 1.5 stars to 3.5 stars and get great comments from tenants? Neal shares outstanding tips on how to improve your reputation. Also, Neal discusses some of the current concerns he has within the apartment industry. Be prepared to take notes. To contact Neal: multifamilyU.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? “Show me the MONEY! Raising capital, the right way.” (Episode 3 of 5) Jul 29, 2019

Start building your database of investors. One example is creating your own Apartment Investing MeetUp group in your community. MeetUp meetings are a great way to build your own investor tribe. Bring in guest speakers (contract attorney’s, bankers, title folks, self directed IRA experts, property management companies) that can share their wisdom to your tribe. Its an excellent way to become a thought leader in your community.

Old Capital Bonus Segment 3: Command Authority with Lane Beene - “Final Segment - Build Your Team and Find the Right Asset.” Jul 27, 2019

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. Lane finishes the ‘4 Doors’ of a decision tree for apartment investors. In this episode, Lane covers the last 2 doors. Door 3- Selecting qualified team members. Apartment investing is a team sport. Don’t start before you have support. Do you have the limited partners equity lined up? Do you have Key Principals that will sign the loan with you? Do you have the best contract attorney, best lender, best property management company, etc.? Build your network to success, today! Door 4- Find the apartment building and do the analysis and selection. Often, many investors think the property selection comes first- BUT... it does not! Lane provides his inside information that will help you select the right asset to pursue and acquire. To contact Lane Beene: lane.beene@pilot-legacy.com

Episode 189 - Small Apartment Brokerage Group gets HUGE results Jul 27, 2019

Get to know these guys. Jon Krebbs and Paul Yazbeck are with The Multifamily Group in Texas. They sell ‘B & C” apartments in north and central Texas. Before creating their own regional brokerage firm, they were top brokers for a national commercial real estate firm. Today they have 9 sales brokers concentrating on apartment listings between $5-15 million. Jon and Paul chat about the state of the apartment market and what they are seeing as opportunities right now. Paul gives some insight on what is happening in Killeen, Texas today. Killeen is near the largest US ARMY base in the world, Fort Hood. Killeen is larger that Waco, Texas and just an hour north of Austin. This could be an area that you will want to explore to buy an apartment. Jon and Paul give you an idea on what buyers need to do to ‘win’ a deal these days. They also discuss where the better rental growth markets are at in Texas and where to invest. https://multifamilygrp.com To contact Jon Krebbs: jon.krebbs@multifamilygrp.com To contact Paul Yazbeck: paul.yazbeck@multifamilygrp.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? Find A Qualified Advisor/Broker- START BUILDING YOUR TEAM. (Episode 2 of 5) Jul 21, 2019

Get out!! Really, Get Out there and meet people that will help you. Professional apartment brokers control the majority of the opportunities in your market. How do you meet them? Michael shares his knowledge on what you should do to meet these ‘gate keepers’ and how to build quality relationships.

Episode 188 - Purchased THREE apartment buildings and then… QUIT HIS JOB. Can you do that? Jul 19, 2019

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) Jul 15, 2019

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? Jul 15, 2019

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? Jul 07, 2019

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.” Jun 30, 2019

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? Jun 25, 2019

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? Jun 24, 2019

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.

Episode 186 - A MINDSET CHANGE a few years ago, leads to almost 1000 units owned today Jun 17, 2019

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.

ASK MIKE MONDAYS - Is there anyway to STOP PROPERTY INSURANCE from rising? Jun 16, 2019

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.

Episode 185 - NOT AN EXPERT ON APARTMENT INSURANCE? Jeff King explains the BASICS on what you need to know. Jun 08, 2019

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.

ASK MIKE MONDAYS- Michael, how do you prepare for a TAKEOVER of an apartment building? Jun 03, 2019

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.

Episode 184 - Would you QUIT YOUR JOB after buying 388 apartment units? Jun 01, 2019

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.

ASK MIKE MONDAYS - Michael, can you define what KEY PRINCIPAL is? May 27, 2019

Michael discusses and defines the term: KEY PRINCIPAL and how it applies to commercial real estate lending. The lender makes the loan to the Borrower. The Borrower is not typically an individual; but typically a limited partnership. Generally, where the Borrower is a limited partnership, the general partners are the managers of the Partnership. Thus, individuals general partners are potential Key Principals. For any general partner of the Borrower which is an entity, the Lender must identify as Key Principals those individuals who control that general partner. Key Principals usually have control of the Borrower and a fiduciary responsibility to the limited partners. However, where either a managing general partner or group managing general partners have been authorized in the Borrower's Limited Partnership Agreement to manage the partnership without participation from the other partners, then, the Lender must identify as Key Principals only those individuals managing general partners, or if a managing general partner is an entity, those individuals who control that managing entity individual general partners and the principals of non-managing entity general partners.

ASK MIKE MONDAYS - Michael, can you define what KEY PRINCIPAL is? May 27, 2019

Michael discusses and defines the term: KEY PRINCIPAL and how it applies to commercial real estate lending. The lender makes the loan to the Borrower. The Borrower is not typically an individual; but typically a limited partnership. Generally, where the Borrower is a limited partnership, the general partners are the managers of the Partnership. Thus, individuals general partners are potential Key Principals. For any general partner of the Borrower which is an entity, the Lender must identify as Key Principals those individuals who control that general partner. Key Principals usually have control of the Borrower and a fiduciary responsibility to the limited partners. However, where either a managing general partner or group managing general partners have been authorized in the Borrower's Limited Partnership Agreement to manage the partnership without participation from the other partners, then, the Lender must identify as Key Principals only those individuals managing general partners, or if a managing general partner is an entity, those individuals who control that managing entity individual general partners and the principals of non-managing entity general partners.

Episode 183 - Bridge Loans Can Be an Attractive Financing Strategy for Value-Add Investments May 27, 2019

For various reasons, not all apartments will qualify for a Fannie Mae or Freddie Mac loan today. An example could be that current net operating income (NOI) versus sales price does not support a higher leveraged loan amount. Today, borrowers are seeking the right loan structure that can “bridge” them from point A to point B. Bridge loans may be the right financing strategy for value-add investors with a clear plan to increase future property income. Most bank bridge loans will only do low leveraged (60-65%), full recourse, short term loans. Bridge loans are NOT HARD MONEY LOANS. Underwriter John Q. Banker explains how to qualify for a HIGHER LEVERAGED NON RECOURSE REAL ESTATE BANK BRIDGE LOAN when a permanent lender does not offer an immediate solution based on the asset’s current financials, current occupancy and condition. You want to listen to this conversation. John and James go into detail on what is important in bridge lending. 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 - Michael, when is the economic slowdown coming in apartments? May 19, 2019

Michael discusses some recent economic information that Greg Willett from RealPage has shared with investors. Possible slowdown coming in 2020-2021 and the impact it will have on apartment leasing and ownership.

Episode 182 - Apartment Investing: A possible retirement solution May 18, 2019

Today, Allan and Laurel Beazer passively own over 2000 apartment units. A few years ago, they got mad after their CPA told them they may have to work many more years to have a decent retirement. They found a better way. They joined an education & mentoring group that focused on multifamily investing. Listen to their journey on how they passively invested into various real estate partnerships and eventually found their own opportunity with an 11 unit building. They discuss how they found, acquired and operate a small apartment building. The Beazer’s got into real estate investing as a SOLUTION to retire sooner; does that make sense for you? Contact info for Allan & Laurel: beazworkzinvesting@gmail.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 - Michael, what is the state of the apartment market today and any pro-tips you can share? May 12, 2019

Michael discusses the status of the capital markets that he is seeing as a deal sponsor. Today, to be rewarded with a lower interest rate, Agency lenders want to see energy or water savings by apartment owners and/or tenants. This year, Fannie Mae and Freddie Mac made a change that calls for borrowers using their green-lending programs to commit to saving 30% on their energy and water consumption, with half of that reduction having to be in energy use.

Episode 181 - ARE YOU NEW TO APARTMENT FINANCING? Listen to John Darrow, underwriter and decision maker with Red Capital Group, explains the differences between the SMALL BALANCE Fannie Mae and Freddie Mac loans. Please take notes! May 11, 2019

John Darrow is an underwriter with Red Capital. He specializes in SMALL BALANCE- AGENCY loans under $7 million for NEW apartment buyers. In some areas of the nation…they will lend up to 80% leverage. He explains the differences between NON RECOURSE apartment lenders Fannie Mae and Freddie Mac. These two AGENCY lenders are similar, BUT they have important differences that YOU need to understand. REMEMBER, Fannie Mae and Freddie Mac will only lend on historically stabilized apartment buildings. They are current cash flow lenders. They will NOT finance a distressed asset (low occupancy and low NOI). Longer interest rate term, higher leverage, and non-recourse are some of the benefits of using AGENCY financing for apartment investing. You should be able to answer these questions: What lender will include REHAB into their loans? Can you get a NON RECOURSE loan in a small town with 30 years amortization? Can you do a 10 year fixed with 10 years of INTEREST ONLY? Why are these apartment loans typically better than local bank loans? What type of prepayment penalty can I expect? Can I lock my rate upfront? To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS: Michael, how do you DE-RISK an apartment transaction? May 05, 2019

Today, many sellers and listing agents require buyers to put a substantial amount of NON REFUNDABLE earnest money up front…BEFORE they do certain due diligence analysis. As you can imagine, the seller wants to make sure you are financially committed to the transaction without the risk of a future re-trade. Michael explains how he gets comfortable on putting significant hard earnest money upfront on an apartment acquisition.

Episode 180 - Two TOP producing APARTMENT REALTORS give you insights on how to win a deal May 03, 2019

Berkadia real estate brokers, Will Jarnagin and Michael Ware, have been selling apartments for over 15 years. They have a depth of knowledge to help you. Will gives us an insight on the Value Add apartment market in Dallas. He breaks the sources of capital into two categories: 1) purchases UNDER-$25 million 2) OVER- $25 million. Will tells us that there is more activity and more capital available for smaller transactions under $25 million today. The space above $25 million is usually institutional investors and that segment is a little thin with less activity. Michael discusses the oversupply of BRAND NEW- A CLASS apartments this year, but construction permits have dropped and we will see a reduction of new supply in the next few years. This means current rental concessions will fall in the next 18 months. If you have never bought an apartment building or you are new to the market, Will & Michael gives us several tips on how to get recognized by a top producing brokers selling a deal. Also, Michael gives us his perception of where CAP RATES are at for CLASS- A, B & C apartment properties in Dallas. You will chuckle at his answer. To contact William Jarnagin: Will.Jarnagin@berkadia.com To contact Michael Ware: Michael.Ware@berkadia.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

Episode 179 - “Old Real Estate Guys” established an INVESTMENT FUND to buy apartments Apr 26, 2019

Bill Mara & Pat Poling have been business partners for over 30 years. These “old real estate guys,” operated a multi-billion dollar institutional real estate portfolio for about a dozen years and then made the move into large apartment investing. They saw the opportunity to invest into value-add & work force multifamily and wanted to have individual partners instead of institutional investors. Before they established an INVESTMENT FUND, Bill & Pat would raise equity capital on each transaction. They would find the deal first and then find the equity second. That can be burdensome…if you have too many due diligence items coming at you. You can go from ZERO to 100 miles an hour during the acquisition. Bill & Pat found a way to raise capital throughout the year…with an investment fund. They used their institutional investing background to create a possible better way to help in the capital raise. To contact Mara Poling: https://marapoling.com/fund/ To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS - Michael, I found out that the previous owner FILLED MY BUILDING UP WITH BAD TENANTS prior to closing to show higher occupancy. At the time we closed- occupancy was at 95%. Today, three months later- my occupancy is at 60%. All due to ba Apr 22, 2019

Michael discusses real tenant occupancy challenges that will happen if you do not review tenant files during initial acquisition due diligence.

Episode 178 - Second Quarter 2019: Apartment Loan Officer Roundtable Apr 19, 2019

What’s WORKING or NOT WORKING…in the capital markets. Old Capital commercial loan officers-James Eng, Dave Walls and John Brickson discuss what is happening in apartment lending. Paul Peebles relays an important story about the possible financial impact of the “NEW” SOCIAL SECURITY ADMINISTRATION’s- NO MATCH letter verifying authenticity of your employee’s social security number. This could be challenging for the employee, the employer, and the tenant in your building. What happens to labor costs and apartment occupancy if undocumented employees lose jobs? John Brickson and Dave Walls chat about competitive advantages in buying apartment buildings today. James “the professor” Eng reminds us 1) expect rejection and learn from every ‘no’ 2) hire advisors like your life depends on it 3) you will have to do things- that don’t scale. Great insight from James. Save the Date: 2019 Old Capital Conference - October 24-25 in Dallas, Texas NPR Article on the NO MATCH LETTER: https://www.npr.org/2019/03/29/707931619/social-security-administration-plans-to-revive-no-match-letters Contact: James Eng JEng@OldCapitalLending.com Dave Walls DWalls@OldCapitalLending.com John Brickson JBrickson@OldCapitalLending.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS - Michael, what are the benefits of using a commercial mortgage broker versus a direct lender? Apr 15, 2019

It is all about “execution certainty.” This means your banker/broker must be your advocate in closing your apartment loan. Michael discusses some of the reasons on why you should consider using a commercial mortgage broker in your apartment transaction.

Episode 177 - No analysis paralysis here- 3 apartment purchases within 12 months Apr 10, 2019

Beware of internet scammers when it comes to raising money for apartment investing. In the first part of the podcast, Paul discusses a real problem that recently occurred to one of his borrower. The sponsor’s email address and database were hacked. The scammers sent out emails to the borrower’s investor database asking for $250,000 for additional rehab on an apartment building owned by the borrower. The scammer offered an unbelievable 45% rate of return. The scammers false email address was close to the borrower original- except a small “i” was added into their faux email address. Fortunately, a few spelling errors were caught by alert passive investors that felt that the email was fake and reported it. BEFORE sending money to your general partner, make sure that the transaction is real and the wiring instructions are correct. In the second part of the podcast- Kathryn Schmeltz, Jimmy Edwards and Tim Hammick came together to buy apartments. Within 12 months of forming their team, they had purchased 3 large apartment buildings. 2- Deep Value added buildings; 1- Stabilized building. They discuss some of the challenges they have encountered. 1st property purchased: 16 units https://el-paso-apartments.business.site 2nd property purchased: 100+ units https://www.courtyardsonthepark.com 3rd property purchased: 100+ units http://www.falconridge-apts.com To contact: www.HighFiveMultifamily.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS - Michael, what rates of return can I expect for a multifamily investment and what real risks are there? Apr 07, 2019

Michael explains the reality of investing in apartments today and what you can expect in the future. Investment expectations for investors have changed in the last few years. “Longer and Lower,” are the general themes of todays apartment investing market. Longer investing hold times with a lower rate of return can be expected.

Episode 176 - Transitioning from Wall Street to Apartment Investing: now owns over 500 units Apr 06, 2019

Tauheed Saddiqui spent years working for banks and hedge funds. He would spend days on the road raising money from institutional investors. He loved it; but traveling was killing him and hurting his young family and wife. He needed to make a change and decided that real estate was going to be his new “9-5” job. He found that Wall Street was “advanced calculus,” and Real Estate was not even “algebra- but simple mathematics”. He replaced volatility with predictability. In Real Estate, he felt you were not going to lose 20% of its value over night. Tauheed liked that math and explored residential and commercial real estate. His first project was the construction of rental duplexes. He was hooked on Real Estate after building a 32 unit property. Tauheed wanted to own more units without using ALL of his own money. He found that raising money through a syndication was the ideal way to acquire, rehab and stabilize large, older apartment buildings. Listen to Tauheed’s journey into real estate syndication. To contact Tauheed: TAASInvestments.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

Episode 175 - “Where is the apartment market going?” Apartment Economist Greg Willett explains the future for investors Mar 31, 2019

Greg Willett is the Chief Economist for RealPage. He is the nations top apartment economist that bankers, general partners and investors listen to. Here are some of his thoughts: The U.S. apartment rents climbed 3.2 percent on an annual basis as of the first quarter of 2019. Annual rent growth has topped the 3 percent mark for six consecutive months, accelerating from a pace that had hovered around 2.7 percent in all of 2017 and in the initial nine months of 2018. Occupancy stood at 95.2 percent for the first quarter, edging up from 95.1 percent a year ago. However, since the cold weather months are a period of limited leasing activity, occupancy has slipped from its third quarter 2018 seasonal peak of 95.8 percent. Greg mentioned, “It’s encouraging for apartment investors to see rent growth holding up so well when the new supply volumes are aggressive, while brand new properties still moving through the lease-up process tend to be offering discounts, pricing power actually has improved a bit for luxury developments where the initial resident base is now in place. Properties at middle-tier to lower-end price points are maintaining their already-strong rent growth momentum.” Among the country’s large metros, local rent growth leaders are Phoenix and Las Vegas, each area posting annual price jumps around 8 percent. At the next tier of performance, rent growth reaches 5 percent or a little better in Atlanta, Greensboro/Winston-Salem, Memphis and Sacramento. Some small metros are experiencing even stronger rent boosts. Rents are up 15.2 percent in the West Texas Oil Patch markets of Midland and Odessa, while price increases of roughly 7 to 8 percent are occurring in Wilmington, N.C.; Tucson, Ariz.; and Gainesville, Fla. Houston’s performance is the weakest among big metros, with rents in the first quarter matching prices from a year ago. Slight rent cuts are occurring in three small markets: College Station, Texas; Fargo, N.D.; and Santa Rosa, Calif. Visit RealPage at: RealPage.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

Episode 174 - Golden Nuggets from apartment investor JC Castillo Mar 24, 2019

JC Castillo owns several large apartment buildings. Because JC is a disciplined real estate investor, it’s been almost two years between his last deal he closed on and his next new deal. Two years? Wow! JC and his business partner Eric Hardy underwrote close to 100 purchase opportunities during that time. They knew exactly what they were looking for and couldn’t find the right location or demographic of tenant, right sales price, right rental rate upside, right rehab budget…so they waited till the opportunity was right. Just like fishermen…they had many hooks in the water…but they patiently waited for Moby Dick to appear. JC attends many educational and networking conferences thru out the year. He recently attended two apartment specific investing conferences and shares some takeaways. To contact JC Castillo: jc@multifamgroup.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS - What do limited partners need to get comfortable BEFORE they invest with you? Mar 19, 2019

Michael gives general partners tips on what limited partners need to make an investing decision.

Episode 173 - Applying Warren Buffett’s investing knowledge to Multifamily Mar 18, 2019

Every year, Warren Buffett, writes his Berkshire Hathaway shareholders a letter. This eagerly anticipated letter from the ‘Oracle from Omaha’ gives rich insights, from the greatest investor, on what has happen in the last 12 months for Berkshire and what he sees on the horizon for their owned businesses. Everyone (investors and non-investors) can learn life lessons from his common sense approach to investing in businesses and people. Old Capital’s James Eng has taken Buffett’s 2019 annual report and deciphers several nuggets for the multifamily investor. There are several parallels in investing in apartments and investing like Warren Buffett. To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS - Michael, how do you deal with difficult or unreasonable limited partners AFTER we close? Mar 11, 2019

Real estate is easy; people can be hard. In apartment syndications, general partners need equity. That equity comes from limited partners. Not all limited partners are going to be easy to work with AFTER you close. Setting the correct investment expectations with the limited partners at the beginning of the transaction is very important. Michael also discusses how he has dealt with a challenging investor.

ASK MIKE MONDAYS - Michael, what should an ASSET MANAGER do? Mar 01, 2019

An asset manager oversees the property on behalf of the investors. They report any financial or physical changes (good or bad) to the general partner. They help in managing a solution. When you own a small property (10-30 units) you are the ASSET MANAGER…. When you purchase a larger property or own more apartment communities, you may need to hire an asset manager. Remember, your job, as a general partner is to find more apartment purchase opportunities and find more equity. An asset manager will need help run the operational side of the business.

Episode 172 - Why COST SEGREGATION will give you tremendous tax advantages when owning apartments Mar 01, 2019

Cost segregation identifies building costs that would typically be depreciated over a 27.5 period and reclassifies them to permit a shorter, accelerated method of depreciation for certain building costs. Your apartment building is made up of thousands, maybe millions of parts. Flooring, cabinets, lighting, stoves are examples of items that can have different and shorter depreciation schedules. A cost segregation study identifies and reclassifies those assets to shorten the depreciation time for taxation purposes, which reduces current income tax obligations. This is one of the biggest reasons on why we buy real estate. Tax advantages!! BBG is a nationwide commercial appraisal group that not only completes valuation, but helps real estate investors recognize rapid depreciation on their asset. Louis Yorey is a COST SEGREGATION expert with BBG. His group creates the cost segregation analysis/ report that assists you with tax savings. To contact Louis Yorey: lyorey@bbgres.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

Episode 171 - Coaching and Counseling: What?? I didn’t realize that!! That’s not right! Mar 01, 2019

Independence is leaving the commercial real estate business. Listing agents are being hired by commercial apartment lenders. Yes…they now work for the lender! Gone are the independent real estate agents that represented the seller only. Today, listing agents have two bosses, 1) the apartment seller/owner and 2) the apartment mortgage company they are employed with. How do you serve two masters? The listing agent is almost forcing the buyer to use their commercial mortgage company; IF they want to be considered in “best and final.” What this means to you… is that the buyer is NOW handcuffed to the listing agents’ lender…and will not get the best financing available. Your listing agent is now a mortgage originator and getting paid to push mortgages to the buyer, too! How is that possible? The listing agents mortgage company will not shop other agency lenders. The listing agent’s lender… will not get you the best interest rate, best leverage, and best terms available. In today’s podcast, Paul and James bring you up to speed on how and why this is happening and how it will impact you in the future. To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS - Michael, what do you read? Feb 17, 2019

Michael discusses what he reads on a daily basis and what helps him understand the big picture in apartment investing. If you come across interesting and supportive investing articles; share some of those articles with your investors. Michael, uses the example of Apple adding thousands of jobs in the same submarket of an apartment building that he owns. He also makes comments after the article on how this will impact their investment with a brand new campus a few miles away. Communicating that information to your investors, helps reinforce a good investing decision by them.

Episode 170 - How to Achieve More Success by Teaming up with a “talented partner” Feb 17, 2019

Justin Martinez and Matt Picheny are business partners in a 132 unit, two property portfolio in Lawrence, Kansas. Justin lives in Dallas, and Matt lives in Boston, we discuss how they found this opportunity near the University of Kansas. Success in real estate just doesn’t happen overnight. You must take action! Many new investors go to real estate conferences to get educated and networked with like minded folks. Matt met Justin at an educational and mentoring conference and found they had common ground. Prior to meeting Justin, Matt had only purchased single family homes and had never purchased an apartment building. Matt leveraged Justin’s past ownership and management experience in over 1200 units to help him purchase a large apartment building. If you DO NOT have current multifamily ownership real experience; you will need to find a partner that brings a set of skills that you are lacking. Listen to how Matt and Justin came together to purchase a large apartment building. Teaming up can bring success faster. Property website: sunriseapartments.com To contact Justin Martinez: SkyCastleProperties.net To contact Matt Picheny: Matt@MJPPG.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming educational 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 more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.

ASK MIKE MONDAYS: Michael, I am buying an apartment building, what due diligence items should the seller produce? Feb 10, 2019

ASKING and GETTING are two different things when dealing with a seller. Michael explains what critical financial and physical information you must ask the seller to produce before your earnest money is at risk. Make sure you download Michael’s “DUE DILIGENCE CHECKLIST” at the Old Capital Podcast website at OldCapitalPodcast.com. This CHECKLIST gives you the best breakdown of items you need to review.

Episode 169 - IS THE APARTMENT CRASH COMING? CoStar Analyst/ Economist David Kahn Feb 08, 2019

CoStar Group’s David Kahn illuminates the “big picture” behind apartment investing in Texas. Before you invest, you need to know some of the basics: What can you expect in annual rent appreciation? How are occupancies on B & C apartment properties? Where are the new jobs being created? What are those jobs paying employees? What can you expect with cap rates in the future? What location should we invest in DFW? Where are the new apartments being built? Please take notes. If you want to get a copy of David Kahn’s presentation please send an email to ppeebles@oldcapitallending.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 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.

Episode 168 - How did two “smart guys” come together and buy over 400 units in less than 18 months? Feb 01, 2019

Shane Thomas and Prashant Satoskar did not know each other 2 years ago. Shane and Prashant met at an apartment educational/mentoring group meeting. They immediately recognized that by working together it would make their investing partnership stronger. Both guys brought in strengths to the team. Today, they own 3 large apartment buildings. To go bigger (more units) and go faster (shorter time frame) - it’s important to meet as many fellow investors that share your common goals. Networking within the apartment investor community is critical. If you are looking for equity, vendors, or partners; it’s important to attend and network with as many qualified folks as possible. In many markets within the country, trying to win a deal is super competitive. Sometimes, you are not the original choice of the seller. Shane and Prashant discuss winning and closing two deals AFTER they were not originally chosen. Coming in second may feel like coming in last…but many times, the original buyer cannot perform. Keep the faith. To contact Shane Thomas: shane@catequity.com To contact Prashant Satoshar: prashant@catequity.com To receive our FREE page WHITE PAPER REPORT on the (updated) 2019 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.

Episode 167 - What are SMART APARTMENT REIT MANAGERS investing in today? What they know and what you need to know! Jan 25, 2019

Apartment REIT’s (REAL ESTATE INVESTMENT TRUSTS) own thousands of apartment units throughout the country. They own all different types of apartments; from brand new buildings in downtown urban areas to older properties in the suburban markets. These apartment managers and executives get together once a year to discuss the latest insights and market intelligence in apartment ownership. The 2018 NAREIT meeting was in San Francisco in November and featured some of the brightest minds in apartment ownership. James discusses investor fundamentals that large apartment ownership groups already know and what you need to find out. Listen to what specific cities these institutional apartment owners are buying in and what they are doing to push NOI. These institutional apartment buyers are just like you… buy a good marketable asset, in a good area…fix the problem, stabilize the asset, hold for cash flow or sell for a profit. Learn pro-tips from these professional investors. To contact James Eng: jeng@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the (updated) 2019 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.

SPECIAL EDITION: Help US - Help THEM Hoops for Homelessness Jan 23, 2019

Saturday, March 30 7.30a - Noon‬ ‪Southern Methodist University- Dedman Center Dallas‬ ‪Hoops for Homelessness is a 3 on 3 half court basketball tournament hosted by Old Capital in order to raise money and awareness for the charity organization City House.‬ ‪City House is dedicated to providing homeless children and teens in North Texas with emergency shelter and transitional residential services.‬ ‪We need YOU to play!! It will be a great way to network and compete with others in the apartment industry, while at the same time supporting a great cause.‬ ‪Please join us for this event.‬

ASK MIKE MONDAYS - Michael, how do you get comfortable with putting HARD EARNEST MONEY into the transaction on day one? Jan 20, 2019

Your seller may require you to prove that you are a serious buyer by demanding a large amount of initial earnest money up front. This money could be at risk, IF you do not perform. The seller wants to assured that you won’t re-trade them during the sales process. Michael explains some of the paths he uses to mitigate that possible risk.

Episode 166 - NICE GUYS do finish first! Listen to how Kevin Chalmers acquired 488 units Jan 18, 2019

Five years ago, Kevin Chalmers managed a team of engineers at a large hi-tech company. As a salaried employee, he was working 60 hours a week and getting paid for 40. He worked and saved and then worked and saved, a little more. He was getting ahead but was getting taxed pretty hard on his personal income and was looking for a better way. A work friend gave him the name of a real estate education and mentoring group. After he went to that education and mentoring group and was hooked on real estate. As you can hear in this podcast, Kevin now has the passion for real estate. Today, with the help of that education and mentoring group, Kevin and his partners own and control 3 large apartment buildings with 488 units. He has also invested passively in over 3200 apartment units. Wow!! Listen to how Kevin embraced apartment investing and retired from corporate engineering at age 41. Way to go, Kevin! To contact Kevin Chalmers: kevin@legacyreigroup.com To receive our FREE 15 page WHITE PAPER REPORT on the (updated) 2019 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.

ASK MIKE MONDAYS - Michael, I just acquired a 9 unit apartment building and WOULD LIKE TO AIRBNB all or most of them. How can I get a Fannie Mae or Freddie Mac loan? Jan 12, 2019

Michael gives his input on the AIRBNB platform in multifamily ownership. Also, he answers a separate question on the pros and cons of SECTION 8 tenants

Episode 165 - Get the Value Right! You need to know…what is IMPORTANT to your apartment appraiser? Jan 12, 2019

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.

ASK MIKE MONDAYS - Michael, would you talk a little bit about the different loan covenants offered to a well-qualified seasoned guarantor compared to a newer sponsor? Jan 07, 2019

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.

Episode 164 - ASK THE UNDERWRITER - THIS IS REQUIRED LISTENING. To be successful in 2019 you must know the apartment underwriting guidelines. Jan 05, 2019

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?

ASK MIKE MONDAYS - Michael, have you ADJUSTED the IRR (INTERNAL RATE OF RETURN) in deals you are doing to account for lower cap rates, higher interest rates and lower annual rent increases? Dec 31, 2018

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

Episode 163 - 4 KEY LESSONS: Amazon business buying vs. Multifamily Investing (WHITE PAPER REPORT) Dec 28, 2018

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: jeng@oldcapitallending.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.

ASK MIKE MONDAYS - Michael, what are the LIQUIDITY & NET WORTH requirements from a lender to qualify for an APARTMENT LOAN? Dec 25, 2018

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.

Episode 162 - You don’t need a HARVARD MBA to buy CLASS C apartments…but it doesn’t hurt! Dec 21, 2018

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: jacklangenberg@gmail.com To contact Tom Lafferty: tdmultifamily@gmail.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.

ASK MIKE MONDAYS - Michael, besides real estate brokers, where else can you find OFF MARKET deals? Dec 16, 2018

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.

Episode 161 - Building a STRONG TEAM helps you go from ZERO to 310 units Dec 13, 2018

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: BryanAmos@theomnigroup.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.

ASK MIKE MONDAYS - Michael, what are the biggest barriers to entry into apartment ownership for someone UNDER THE AGE OF 25? Dec 10, 2018

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

Episode 160 - Understanding the INSTITUTIONAL APARTMENT BUYER with Jorg Mast at JLL- Dallas Dec 10, 2018

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: jorg.mast@am.jll.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.

ASK MIKE MONDAYS - Michael, how will the continued population growth in Texas effect apartment ownership? Dec 03, 2018

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

ASK MIKE MONDAYS: Michael, I’m an Apartment investor; Is there a crash coming and will I lose all my money? Nov 19, 2018

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

Episode 159 - Jake & Gino: First Friends and now Business Partners in a 1000 units Nov 19, 2018

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.

ASK MIKE MONDAYS - Michael, what reports should I be receiving from my apartment management company? Nov 14, 2018

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.

Episode 158 - Show me the Money! Find your money through Self Directed IRA investors Nov 12, 2018

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.

Episode 157 - Market Timing: Northmarq brokers explain the current selling environment Nov 05, 2018

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.

Episode 156 - The ACCIDENTAL LANDLORD becomes a SUCCESS Oct 27, 2018

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.

ASK MIKE MONDAYS - Michael, is it recommended to have both a real estate attorney and an SEC attorney ? Can this be one role ? Oct 22, 2018

Episode 155 - Apartment Outlook: The view from 30,000 feet, 10,000 feet…and 1 foot Oct 21, 2018

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.

Episode 154 - BE CAREFUL OUT THERE: Why rising interest rates matter when applying for an apartment loan Oct 13, 2018

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.

Episode 153 - Multifamily Story Time: Darwin German shares some wacky stories in owning and managing apartments Oct 04, 2018

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: invest@darwingerman.con 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.

Episode 152 - EMPOWERING WOMEN into Real Estate - October 25 San Mateo, CA YOU ARE INVITED! Sep 27, 2018

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.

ASK MIKE MONDAYS - Michael, you mention that on half of the deals you see, you do a BACK OF THE NAPKIN ANALYSIS to see if a deal fits; can you explain your process? Sep 23, 2018

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.

Episode 151 - Silicon Valley Engineers have transitioned into Apartment Moguls Sep 20, 2018

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: contactwealthgrowinvestments@gmail.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.

ASK MIKE MONDAYS - Michael, we are a week away from closing and the seller is asking for an extension for “internal legal issues.” Have you ever had a deal not close because of the seller? How did you handle it? Sep 16, 2018

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.

ASK MIKE MONDAY - We are thinking of REBRANDING our property and changing its name; any pitfalls? Sep 09, 2018

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.

Episode 150 - Meet 2017 National Apartment Association Winner: John Ridgway Sep 09, 2018

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: JohnR@LUINC.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.

ASK MIKE MONDAYS - Michael, I am thinking of buying a $1 million apartment building and should I put on PERMANENT DEBT? Sep 03, 2018

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.

Episode 149 - How to do PROFITABLE transactions in this STAGE OF THE MARKET; what’s working? Sep 03, 2018

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.

ASK MIKE MONDAYS - Michael, What do you think about sponsors offering a PREFERRED RATE OF RETURN to investors? Aug 27, 2018

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.

Episode 148 - What you need to know BEFORE investing your HARD EARNED DOLLARS. Hans Box, CPA breaks down common investing terms and structures Aug 26, 2018

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: HBox@OldCapitalLending.com or HBOX@BoxWilson.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.

ASK MIKE MONDAYS - Investing in an apartment syndication? What PASSIVE INVESTORS MUST ASK DEAL SPONSORS Aug 19, 2018

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.

Episode 147 - NEVER TOO LATE to buy apartments. A real estate broker becomes an apartment owner. Aug 19, 2018

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: NOISEVentures@gmail.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.

ASK MIKE MONDAYS - I want to a buy an apartment building. What do I look for in the numbers? Aug 12, 2018

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.

Episode 146 - Could you learn something from a guy that manages over 19,000 apartment units? Aug 11, 2018

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.

ASK MIKE MONDAYS - Michael, I just scheduled an appointment with the listing agent to walk a multifamily property; what do I need to pay attention to? Aug 05, 2018

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.

Episode 145 - Execution Certainty: What to ask your commercial mortgage loan officer BEFORE you hire them. Aug 02, 2018

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.

ASK MIKE MONDAYS - Can you unveil some common misconceptions when purchasing apartments? Should I consider owner financing? Should I send ‘I want to buy your apartment’ letters to the seller? Does that really work? Can you wholesale multifamily proper Jul 29, 2018

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.

Episode 144 - Get Smart - 3rd Quarter Loan Officer Roundtable Jul 27, 2018

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.

ASK MIKE MONDAYS - Mike, when considering at a possible apartment acquisition; what is the first thing you look at? Jul 23, 2018

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.

Episode 143 - INDUSTRIAL WAREHOUSE INVESTING; a possible alternative to multifamily investing Jul 19, 2018

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: timothy.veler@transwestern.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.

ASK MIKE MONDAYS - I am under contract and buying an apartment building. I’ve been contacted by the appraiser; what do I need to know and give them? Jul 15, 2018

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.

Episode 142 - Within 16 months, Ed Faulkner went from ZERO UNITS to 54 UNITS Jul 06, 2018

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: ED@HZFProperties.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.

ASK MIKE MONDAYS - Do I need a buyer’s broker when acquiring an apartment building? Jul 01, 2018

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.

Episode 141 - Go BIGGER and FASTER with specific apartment education & mentoring. Brad Sumrok teaches us the value of having a mentor. Jun 28, 2018

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.

Episode 140 - Want to get started in buying apartments? Start attending live networking events! Jun 22, 2018

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.

Episode 139 - From corporate jobs to real estate investors; Bonnie & Kerry purchased over 700 units Jun 16, 2018

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: bonniestaples.mf@gmail.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.

ASK MIKE MONDAYS - 1) Mike, when buying a CLASS C apartment, what is the largest CAP X expenditures you can expect? 2) What are the biggest mistakes when buying older apartments? Jun 11, 2018

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.

Episode 138 - New Construction - This family BUILT over 800 apartment units. Learn how they did it Jun 08, 2018

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: vino@mphpartners.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

ASK MIKE MONDAYS - 2 questions for Mike today: 1) How do you figure out how much you pay your investors? 2) It seems that most syndication structures use a 5-7 year sale...why not refinance and keep the property? Jun 03, 2018

Structuring the right payout back to investors is critically important. Mike describes what waterfall criteria he uses to attract capital. Mike then discusses different exit strategies that many syndication investors can normally expect. It’s hard to “keep the band together” for an extended period; so most syndicator’s use the 5-7 year sale timeframe.

Episode 137 - Coaching and Counseling: Answering the SELLERS questions correctly Jun 02, 2018

Having the highest offer price doesn’t always get you the deal. The seller needs “execution certainty”. Can the BUYER actually close on the proposed sales price? That’s the sellers worst fear that a buyer cannot close or will re-trade the original terms of the sale transaction. Yikes!! The seller needs to pick the right buyer and take the RISK OUT. The seller doesn’t want to end up with egg on their face by failing to pick the right buyer. But BEFORE a buyer is chosen, the seller needs to analyze and understand the strengths and weakness of every potential buyer. During the ‘best and final’ the seller will need for you to complete the BUYERS INVESTMENT FORM. This document gives the seller a chance to ask you (the buyer) questions about your underwriting, how are you financing, what capital improvements will you make, have you underwritten to higher property taxes, and is the equity already raised. These are critical questions that the seller needs to know. The seller wants to know that the buyer has done their homework and won’t put the deal into the ditch and NOT CLOSE. In the podcast today, we review sellers questions and handle potential answers. 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.

ASK MIKE MONDAYS - Mike, I am doing some rental comp analysis. Every apartment comp I’m finding is different by- location, size, amenities and condition. How do you determine market rents for your property? May 28, 2018

Mike breaks down his assessment on comparing rental comps within a submarket. Becoming a student of the different apartment markets in your buying areas will help.

Episode 136 - TOP PRODUCING D/FW agents share their insight into the apartment market. May 25, 2018

To be competitive in apartment investing you need great information. The top producing agents at ARA- DALLAS have great information on what is happening around the state. They discuss the current state of the apartment market, amenity trends and how to win a deal. Being well prepared in presenting an offer and having your team (Key Principal’s, real estate attorney, MF general contractor, lender, etc.) positioned together is critical in winning a deal. It may not always be the highest offer that wins a deal...BUT ALL sellers want to see execution certainty. Having a team formed before you offer… certainly will help your story. The ARA- DALLAS office will close over $1.5 billion in apartment transactions in 2018. They know the market. Jakob Andersen jandersen@aranewmark.com Richard Furr rfurr@aranewmark.com Bart Wickard bwickard@aranewmark.com To receive our FREE 15 page updated 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.

ASK MIKE MONDAYS - Michael, I am thinking of investing into a mix-use property; what do you think? May 21, 2018

Many apartments may have retail or office space included within an apartment structure. A small grocery store, a coffee shop, or a nail salon can be the typical retail store you may find attached to the apartment building. Mike explains what to look for when purchasing a mix-use property.

Episode 135 - Over 750 units purchased in less than 5 years May 20, 2018

Bhuvan & Pratima Sharma needed to make a change….a huge change. Unfortunately, a few years ago, most of Bhuvans’ & Pratimas’ retirement was wiped out when the company that they both worked for… filed for bankruptcy. Yikes!! They had to re-group and figure out what to do next. They concluded that buying a hard asset through real estate investing was the best idea. In less than 5 years and through apartment investing, Bhuvan was able to quit his corporate job and now has his retirement secured. Listen to how Bhuvan and Pratima purchased over 500 units in the last 18 months. Can you do that? Contact info: sevenseashld@gmail.com To receive our FREE 15 page updated 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.

ASK MIKE MONDAYS - Michael, What is a LURA? May 13, 2018

To promote affordable housing, some older properties may have an income restricted LURA. A LURA is a LAND USE RESTRICTION AGREEMENT. It runs with the deed. This recorded regulatory agreement may restrict the amount of rent you can charge a tenant, based on the tenant’s income. If you rehab a property and are expecting to increase rents to justify the cost…a LURA may prevent you from being able to raise rents in the future. Make sure you ask the seller’s agent if the property has a LURA.

Episode 134 - 124 units; first time apartment buyer May 10, 2018

Friends become partners; finding the right partner is critical to your success when buying apartments. If you have a full time job and life commitments, but still want to own apartments… you may need to find a complementary operating partner. Today we chat with Kristalee Thomas and Larry Troy. Kristalee and Larry are great partners and friends. Kristalee and her husband David have full time jobs and are parents of infant twin boys. As you can imagine, they are very busy. After making several passive investments in other investor’s transactions, it was time for Kristalee and David to step up and purchase their own deal. Larry is semi-retired. After 30 years in the communications industry, Larry wanted to pursue real estate investing. He also invested passively in several apartments; and now was ready to lead his own deal. Also, he had the time to be an operating partner. ‘Time’ was something that Kristalee and David didn’t have. These friends teamed-up and purchased a large property together. To contact Larry or Kristalee: ttreminfo@gmail.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.

ASK MIKE MONDAYS - Michael, tell me about a RECENT SUCCESS STORY. Apr 29, 2018

Michael shares a success story of an investor that sold a NEGATIVE CASH FLOWING four-plex in California and replaced it with a large apartment building in Texas that produces a LARGE CASH FLOW stream. Can you do that?

Episode 133 - MONEY down the DRAIN, literally. Apr 26, 2018

On your operating statement, utility costs -paid by the landlord- can be a HUGE expense. Utilities can include water, electric, gas, sewer, and garbage. On the podcast today is Katie Anderson with Save Water Co. Katie and her company help to reduce the amount of water that is consumed on the property with low flow toilets, leak detection, aerators, and shower heads. Water is money. The ever increasing cost of water and sewer can be very expensive for a landlord and tenant. Listen to how Katie can have a direct impact on lowering water consumption, which lowers water & sewer expenses and thus increasing NOI and valuation of the property. To find out more information on Save Water Co: info@savewaterco.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.

ASK MIKE MONDAYS - Michael, what should I include in the LETTER OF INTENT and what’s the SECRET SAUCE to get it accepted? Apr 22, 2018

Michael discusses the mechanics of pushing over a letter of intent to the seller and how to get that offer accepted.

Episode 132 - “The Corporate Monkey” starring Michael Becker Apr 21, 2018

This was the title to the recent Jake & Geno Podcast that featured the “Michael Becker” story. We love that story and wanted to hear it again. Michael went from a lonely, top producing commercial real estate banker to the popular, apartment owner that we all know and love today. After 15 years in banking, Michael went from a “loaner to an owner.” Are you an engineer, doctor, or attorney and tired of being a “corporate monkey?” You will be inspired after listening to this 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.

ASK MIKE MONDAYS - Michael, I’m a PASSIVE INVESTOR and I am reviewing someone else’s underwriting; what should I be looking at? Apr 15, 2018

IF you are a passive investor you want to review a realistic PROFORMA before you invest. Michael discusses line items on the operating statement such as rental rate growth, loss to lease, property tax step-up costs, and future labor costs. Are the assumptions from the SPONSOR too aggressive?

Episode 131 - Quarterly Loan Officer Roundtable Meeting: How to stay ahead in the ever-changing world of commercial real estate financing! Apr 12, 2018

The Old Capital Lending team discusses the current apartment lending environment and what you should be aware of when structuring your transaction. James Eng shares his article on “The 7 Things Buyers Need to Do to WIN DEALS.” http://www.oldcapitalpodcast.com/blog/ To Contact a Loan Officer at Old Capital: James Eng: JENG@oldcapitallending.com Richardo Hinojosa: RHINOJOSA@oldcapitallending.com Hans Box: HBOX@oldcapitallending.com Jonathan Ferrell: JFERRELL@oldcapitallending.com Les Meisl: LMEISL@oldcapitallending.com Dave Walls: DWALLS@oldcapitallending.com John Brickson: JBRICKSON@oldcapitallending.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 Advi

ASK MIKE MONDAYS - Michael, a friend wants me to review a property in an area that I am not too familiar with; any ideas what I should look for? Apr 08, 2018

Michael gives specific examples on what to consider when assessing a property that’s in a little tougher area of town.

Episode 130 - LANE BEENE won APARTMENT OWNER of the YEAR. He takes broken properties and turns them around. He helps his community, his tenants and, of course… his investors. What can you learn? Apr 05, 2018

Lane Beene buys value added properties. He seeks distressed apartment assets in nice and mature neighborhoods. Many investors search for these ‘holy grail’ of opportunities. Many seek, but few find. Recently, Lane purchased three separate apartment buildings that needed repositioning. He shares his story on how he found these apartments and the amount of rehab that was necessary to reward him and his investors. He did such a good job, that the Fort Worth Apartment Association awarded him Apartment Owner of the Year. His smaller property competed against many large 300 unit- Class A- REIT owned properties. Unbelievable!

ASK MIKE MONDAYS - Michael, do you see any concerns at the beginning of the 2nd quarter for 2018? Apr 02, 2018

Michael discusses some basic real estate economics that he is observing in the apartment marketplace.

Episode 129 - Lessons learned from an out of state apartment owner-operator: JC Castillo Mar 30, 2018

JC Castillo has been investing in apartments for 12 years. He lives in Northern California and owns and operates properties over 1800 miles away. How can you find, purchase and operate properties from a distance? JC has some inside tips on how to build relationships with listing agents so you get selected in best and final and then have agents bring you the elusive “off market” deal. JC is a relationship buyer of apartments. He sets the expectations up front with the listing agent on closing on time and with as little difficulties for the seller. JC has created the Apartment Investor Network in San Jose, California. This apartment group will bring other apartment owners and investors together on a regular basis to network. The Apartment Investor Network will bring in industry speakers to discuss the latest information on apartments. To RSVP to the MAY 2 event with COSTAR APARTMENT ANALYST DAVID KAHN in San Jose, CA: https://www.multifamgroup.com/events/ 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.

Episode 128 - Does your offer stand out? Top Apartment brokers - Nick Fluellen & Bard Hoover explain what sellers are looking for in a new buyer Mar 22, 2018

Nick Fluellen and Bard Hoover are the top apartment brokers in the Marcus & Millichap office in Dallas. Their team did more transactions in 2017 than any other office in Texas. These top producing apartment brokers discuss the positive ‘tea-leaves’ that they continue to see in Dallas commercial real estate. Dallas investors continue to enjoy the fundamentals of population growth, rental affordability, and job growth. Also, Nick & Bard discuss some of today’s challenges with lower leverage on transactions, contraction in cap rates and higher interest rates. To get more information about Fluellen Hoover Multifamily: https://www.facebook.com/FluellenHooverMultifamily/ To get multifamily opportunities from Fluellen Hoover Multifamily: http://multifamilyadvisors.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.

ASK MIKE MONDAYS - Should you assume the current debt or get a new loan? Mar 11, 2018

Today, many apartment sellers are giving apartment buyers two pricing choices. Many sellers have large prepayment penalties on their debt; so they give new buyers two prices. One, if they assume the sellers debt the cost will be lower. Two, if they force the seller to payoff their debt and occur a large prepayment penalty the cost will be significantly higher. Listen to Michael discuss the options.

Episode 127 - You have to know what is REALLY important in a REAL ESTATE SALES CONTRACT. Listen to attorney Bryon Hammer explain Mar 09, 2018

Bryon Hammer is a contracts attorney. He advises buyers on how to structure real estate purchase sale agreements to buy apartments. Before you sign a sales contract; you will want to visit with an attorney that works with real estate contracts every day to advise you on what language needs to be included. Bryon discusses various topics in the podcast including: title commitment and review, earnest money, due diligence period, reps and warranties and default remedies. To contact Bryon Hammer: bhammer@bwwlaw.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.

ASK MIKE MONDAYS - What are some common EXIT STRATEGIES that you have utilized on your properties? What are the PROS and CONS? Mar 05, 2018

All investors must ask their DEAL SPONSOR at the beginning - How and when, am I going to get my money back? Michael explains that matching your exit strategy to your debt is very important. Also, you must understand how large prepayment penalties on apartment loans play into your decision to sell.

Episode 126 - Millennials Cory and Candice Muldrow just bought an 18 unit apartment building. They invested in real estate to BUY BACK their TIME Mar 02, 2018

Cory and Candice Muldrow are unique millennials. They focused on the goal of owning real estate and now are achieving great results. Not all millennials will sacrifice today to have a better life for tomorrow. To contact Cory or Candace: mgroupcapital.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.

ASK MIKE MONDAYS - I’ve been asked to be a KEY PRINCIPAL on a Fannie Mae loan; what are my risks? Feb 26, 2018

Both Fannie Mae and Freddie Mac need someone or a few folks, within the investment group, to become the fiduciary on behalf of the partnership. They typically want a natural person to sign a “guaranty” between the lender and the partnership for a non-recourse loan. Michael explains some of the benefits and concerns if you sign on behalf of the borrowing partnership.

Episode 125 - IS IT STILL a GOOD TIME TO BUY an apartment building? CoStar Group’s economic analyst David Kahn explains the BIG PICTURE on what’s going on in commercial real estate Feb 23, 2018

David Kahn is an economic analyst for CoStar Group. CoStar Group is the leading provider of commercial real estate information, analytics and online marketplaces such as apartments.com & loopnet.com. David discusses national and local economic trends for apartment owners, developers, and passive investors. In this discussion, David focuses on the Dallas-Fort Worth metropolitan area, specifically on apartments. He illustrates current apartment trends based on the continued expansion of jobs in DFW. David also points out the slowdown on the percentage of annual rental growth and the solid occupancy rates throughout the metroplex. 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.

ASK MIKE MONDAYS - When underwriting a transaction; what ASSUMPTIONS do you use? Do you use a sensitivity analysis? Feb 19, 2018

Michael and Jonathan Ferrell discuss the economic assumptions that investors must make when purchasing a property.

Episode 124 - Robert Helms, from The Real Estate Guys podcast, shares SECRETS on SUCCESSFUL REAL ESTATE SYNDICATION Feb 16, 2018

Robert Helms has a passion for real estate. He is the co-host of the very popular Real Estate Guys podcast and has been educating investors for over twenty years. Investing is a team sport. To get bigger faster, you need to be able to successfully syndicate real estate transactions. Robert shares some his most essential secrets. To train with Robert Helms at the Secrets of Successful Syndication: https://ap216.isrefer.com/go/soss/A0013/ To sail with Robert Helms & Robert Kiyosaki & Michael Becker at the 16th Annual Investor Summit at Sea- 7 days on the ocean with the experts https://ap216.isrefer.com/go/summit/A0013/ 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.

ASK MIKE MONDAYS - What’s the impact with rising interest rates? Feb 12, 2018

Interest rates have been steadily rising over the last 6 months. Michael discusses the impact of what rising interest will have on underwriting apartment transactions.

Episode 123 - Females Wanted: Apartment Investing is not for men only Feb 09, 2018

Rupa Keskar has bought and sold over 1000 apartment units, but she hasn’t purchased a property in 18 months. Now, after 100 LOI’s, 40 property visits, numerous times at Best & Final… she is finally under contract with another property. Listen to the trials and tribulations of a real apartment investor trying to find the right transaction. Also, Rupa shares some investing lessons that has helped her. To contact Rupa Keskar: prasiti.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

ASK MIKE MONDAYS - Would you invest in CLASS “A” or CLASS “C” apartments in a ‘hot market’ like Charlotte, NC? Feb 05, 2018

There are many ‘hot markets’ in various metro areas of the country. Charlotte is comparable to Dallas; Michael chats about similar markets and what he would invest in today.

Episode 122 - Learn about 2018 TAX REFORM and how it will impact you Feb 02, 2018

Not since 1986, have we seen major changes to tax legislation. Mark Patten and Mandy Thiebaud are CPA’s with McKinnon Patten in Dallas. They joined us in the podcast to explain what changes you can expect as a real estate investor. Mark expands on SECTION 199A. (QUALIFIED BUSINESS INCOME DEDUCTION) This is the biggest tax break afforded to small business owners in 30 years; it benefits owners/investors of pass-thru entities and needs to be understood when you invest in real estate. Mandy discusses SECTION 179 and COST SEGREGATION and 1031-EXCHANGES and if any changes were made with the new legislation. Please contact your CPA or financial advisor for further clarification on how the new tax reform legislation will impact you. To contact Mandy or Mark: www.mckcpas.com or 214 696 1922 Mandy Thiebaud, CPA mandy@mckcpas.com Mark Patten, CPA mpatten@mckcpas.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.

ASK MIKE MONDAYS - Can you talk about the various levels of property management? Jan 28, 2018

When you hire a third party management company they perform several functions. 1) Accounting 2) Human Resources (employees work for the management company- not you) 3) Structured onsite and overseeing management. If you don’t hire a third party contractor to handle these specific jobs, then you are the management company and have to perform all those functions.

Episode 121 - FUTURE DEAL SPONSOR? Listen to how a PASSIVE INVESTOR wants to be treated Jan 25, 2018

If you want to buy apartments; You will need money- lots of it! Passive equity partners supply most of your equity when you buy an apartment building. Charles LeMaire has invested in over 20 partnerships. He only invests as a limited partner. He brings great insight on how you should treat your limited partners. 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.

ASK MIKE MONDAYS - What steps does Michael take to PROVE UP his OPERATING PROFORMA when doing initial due diligence? Jan 21, 2018

When you put an initial PROFORMA- you have to make ASSUMPTIONS on the initial market rents and operating expenses. Michael examines how he backs those assumptions up.

ASK MIKE MONDAYS - What are the personal income requirements to invest in a real estate transaction? Listen how Michael interprets the question. Jan 14, 2018

Episode 120 - Sven & Rebecca just BOUGHT a 140 unit apartment building and just SOLD a 41 unit building. Listen to the details on how they did it and what was important Jan 11, 2018

Sven & Rebecca Dienst have been looking to fully supplement their current income with investing in apartments. This, husband and wife team, have been self-employed for many years. They were worried that if their business slowed down or one of them became disabled; would they have enough money to live on. They first invested in apartment education and then formed their acquisition team with a mentor, equity investors, real estate attorney, management company, and a apartment lender BEFORE they started to search for apartments. In the last few years, they have purchased a few apartment buildings. For Sven & Rebecca, apartment investing has become a good alternative to supplement their income.

Episode 119 - More WOMEN NEEDED in Apartment Ownership! Kimberly Radaker, took action, and now owns THOUSANDS of apartment units Jan 06, 2018

Kim Radaker explains how she purchased THOUSANDS of apartment units in the last few years. Kim is a VALUE ADDED buyer. She puts HUMPTY DUMPTY back together again. She acquires physically distressed or poorly managed apartment properties and cures all the problems. She has done a great job and has rewarded the local apartment community and her investing partners with a much better asset. Listen to how Kim took action and is now “knocking it out of the park.” Hey, you can do this, too!

ASK MIKE MONDAYS - What are the BIGGEST MISTAKES in owning an apartment building? Jan 01, 2018

Michael has seen owners fail in executing their apartment ownership strategy. With that information, he discusses some of the common failures that may paralyze you in apartment ownership and how to overcome those obstacles.

ASK MIKE MONDAYS - How do you NETWORK EFFECTIVELY with BROKERS and EQUITY PARTNERS? Dec 24, 2017

Finding the money and finding the deals are the most important concepts for deal sponsors. Michael offers you some critical solutions on how to build your team quickly.

Episode 118 - 2017 Year End Review and “GET IN THE GAME” in 2018 Dec 22, 2017

You don’t want to miss this presentation. Paul Peebles & Fritz Waldvogel will be in Northern California on January 9th to discuss: “How to you qualify for a FANNIE MAE NON-RECOURSE apartment loan?” Be sure to register at: https://www.meetup.com/Los-Gatos-Real-Estate-Networking-Meetup/ To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - How do you buy you first apartment transaction? Dec 17, 2017

Michael understands your first transaction is the toughest. Michael owns over 5200 units, but the toughest one was going from ZERO to ONE. Michael gives you the insight on what you should do to get a “win” on the board.

Episode 117 - Michael explains how to SOURCE APARTMENT OPPORTUNITIES with Rod Khleif Dec 16, 2017

Michael Becker is featured on a recent podcast with Rod Khleif. Michael explains how he sources apartment opportunities and raises capital. Michael discusses how he purchased over 5000 units in less than 4 years with some actionable ideas. To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Tell me the 5 different ways that OWNING REAL ESTATE HELPS YOU Dec 11, 2017

Michael discusses the several ways that owning apartments can help you. Here are some ideas: monthly passive cash flow on a stabilized property, professional 3rd party property management, up to 80% leverage on apartment financing is available, tax advantages with depreciation, you own a hard asset that historically tracks with inflation.

Episode 116 - NOT EVERY TRANSACTION CLOSES: Dustin Lapacka explains what happened on his first transaction Dec 08, 2017

Here is a “real” REAL ESTATE NIGHTMARE SCENARIO. You find the perfect apartment building; and then after negotiating with the seller and the seller’s broker…you are awarded the transaction. You put the property under contract and begin your physical due diligence. Everything is thumbs up and now you spend thousands of dollars on the lenders third parties. (appraisal, engineer, Phase 1 reports and legal) The loan is approved and you have raised all the equity from your investors. The loan documents are at the title company waiting for you to sign and close on the transaction. Everything is ready to go…BUT…on the day you are going to sign….you get a panicked call from the title company saying that the seller cannot sell property due to their LOAN LOCK OUT PERIOD. What? What is a loan lock out period and why is that preventing me from buying this property? Why was that not disclosed before you spent thousands in pursuit costs? Yikes!! Dustin Lapacka tells us that story and then reflects on his new apartment purchase in Arizona that did close. Dustin successfully purchased a 70 unit building that was built in 1985. We appreciate Dustin sharing his story, so we can all learn. To contact Dustin Lapacka: LapackaREI@yahoo.com To contact James Eng: JEng@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - NOT A DUMB QUESTION - Tell me the benefits of owning apartments Dec 04, 2017

Most investors have stocks, bonds and cash in their retirement portfolio- listen to Michael explain the reasons why you should consider a specific kind of commercial real estate to own- apartments. Michael breakdowns the different types and challenges of commercial real estate; office, retail, industrial & land and explains why apartments are the best property type to own.

Episode 115 - Want to know what’s going on within the apartment industry? LISTEN TO THIS GUY Dec 01, 2017

Greg Willett is the Chief Economist for Real Page. Real Page is a technology & data analytics company that focuses on multifamily. They provide property management software for over 12,000,000 apartment units in the nation. The data that Real Page collects- assists owners, investors, and lenders to determine apartment trends and movements. Greg is a wealth of information that will help you understand on what is happening in the apartment industry. https://www.realpage.com/mpf-research/ To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Michael Becker is interviewed by SVN’s apartment agent Mark Allen Nov 27, 2017

Mark Allen is with SVN’s office in Dallas. He is a licensed apartment Realtor and has a podcast focused to apartment buyers. Mark interviews Michael Becker on the challenges of deal flow.

Episode 114 - Old Capital Multifamily Conference LENDERS PANEL: Fannie Mae, Freddie Mac and Bank lenders are featured. Nov 23, 2017

Listen to what the LOAN DECISION MAKERS are looking for to approve your apartment loan. We had an in depth discussion, in front of over 450 investors at the Old Capital Multifamily Conference, last month in Dallas. You will take away a few nuggets of underwriting information that will help you succeed in financing your apartment transaction. To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Michael, what documents do I need to get from the SELLER before I can submit an LOI? What is needed upfront? Nov 19, 2017

Obviously a T12 and rent roll will be needed to make a legitimate offer to purchase an apartment property. Also, Michael discusses some of the pitfalls looking for the OFF MARKET deals

Episode 113 - Lenders Roundtable for 4th Quarter Nov 16, 2017

We sit down with the loan officers at Old Capital and listen to an update on commercial real estate lending. To contact James Eng: JEng@oldcapitallending.com To contact Les Meisl: LMeisl@oldcapitallending.com To contact Ricardo Hinojosa: RHinojosa@oldcapitallending.com To contact Dave Walls: DWalls@oldcapitallending.com To contact Jonathan Ferrell JFerrell@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Michael, what is your opinion of FHA APARTMENT loans? Nov 13, 2017

A timely question; Michael and his team are currently assuming a FHA loan. FHA is a federally guaranteed program under the government’s Department of Housing and Urban Development (HUD). FHA Loans can be used for the purchase/refinance as well as the construction/ substantial rehabilitation of multifamily or healthcare properties. Loans are non-recourse (except standard carve-outs) and rates are very competitive with 35-40 year fixed terms and amortizations. FHA are available nationwide and are available for any market (primary, secondary, tertiary). Michael describes some of the benefits and challenges with FHA financing of large apartment buildings.

Episode 112 - What CHALLENGES do you have when you buy two large assets, at the same time, in two different states? Nov 10, 2017

Wow! How would you like to work on two separate purchase transactions at the same time? These investing partners found themselves with two accepted LOI’s. They could have dropped one and focused on the other one…but they and their investors decided to move forward with these two purchases. Menon and Ajai are investing partners. Menon lives in Northern California and Ajai lives in Dallas. After submitting numerous LOI’s, their offers on Magnolia Woods (240 units) in Atlanta, Georgia and The Carlton Apartments (108 units) in Fort Worth, Texas were accepted. Menon explains on why he made the decision to invest in apartment education and mentoring BEFORE he invested in apartments. Ajai, expounds on some of the challenges they found on takeover of both properties. To contact Ramakrishna Menon : menairproperties@gmail.com To contact Ajai Sharma: aimnextrealty@gmail.com To contact James Eng: jeng@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Michael, are all lender TERM SHEETS the same? Nov 05, 2017

Typically, your lender brings in 75-80% of the capital needed to purchase an apartment property. Obviously the lender is very important to helping you complete the transaction. A lender term sheet gives you a rough indication of what rates and leverage could be. Michael discusses the basics of a lender term sheet. Paul also discusses the challenges of the GREEN PROGRAM in the future. FIND OUT-UP FRONT- if the seller has already implemented a utility savings program on the property. The GREEN PROGRAM rewards borrowers for investing in smart energy and water-saving improvements for a refinance, acquisition, or supplemental financing with a lower interest rate and more loan dollars. Something to be aware of: If the seller had previously completed the work that will save 20% in water or energy costs for either the landlord or the tenant; the new buyer may be challenged to find additional utility savings. If no additional savings are found by the energy audit, you will not get the interest rate savings or additional loan dollars. Yikes!

Episode 111 - Looking to BUILD WEALTH and SAVE ON immediate TAXES? A 1031-TAX DEFERRED EXCHANGE could benefit you Nov 03, 2017

Craig Brown is an attorney and expert on educating clients on the benefits and risks of a TAX DEFERRED EXCHANGE. He has closed thousands of transactions and will give you specific advice for your 1031 exchange. Important Considerations for an Exchange: A) Exchanges must be completed within strict time limits. The Exchanger has 45 days from the date the relinquished property sale closes to identify potential replacement properties. The purchase of replacement property must be completed within 180 days after closing of the sale of the relinquished property. B) Identification of potential replacement properties must be specific and unambiguous, in writing, signed by the Exchanger, and delivered to a Qualified Intermediary. The list of identified potential replacement properties cannot be changed after the 45th day; the Exchanger must acquire from the list of identified properties or the exchange will fail. C) To avoid payment of capital gain taxes, the Exchanger should follow three general rules; 1) purchase a replacement property with a value equal to or greater than the value of the relinquished property, 2) reinvest all of the exchange equity into the replacement property, and 3) obtain the same of greater debt on the replacement property as on the relinquished property. The bottom line: You need to know a 1031-Tax Deferred Exchange specialist. To contact Craig Brown: Craig.Brown@ipx1031.com To contact James Eng: JEng@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Michael, how are things going on your MOST RECENT apartment sale? Oct 29, 2017

Michael discusses his latest apartment sale and WHY HE picked this BUYER.

Episode 110 - JLL- Austin/ San Antonio - What you need to know about the BOOMING GROWTH in Central Texas! Oct 27, 2017

Scott Lamontagne and Zar Haro are with JLL in Austin/ San Antonio and sell a bunch of apartments in Central Texas. Scott is the managing director for the 11 person team based in Austin. Austin has been one of the hottest growth markets in the country. With a 20-34 year old population approaching 500,000, nearly a quarter of Austin’s population consists of Millennials, which is tops among the largest U.S. markets. Business costs are cheaper than Silicon Valley, so Austin has been the recipient of many HQ relocating to Central Texas. (It doesn’t hurt that Chip and Joanne Gaines, from the show Fixer Upper, have convinced many families to relocate to Waco in Central Texas) Scott & Zar discuss what apartment investors should understand about buying properties in Central Texas. To contact Scott Lamontagne: Scott.lamontagne@am.jll.com To contact Zar Haro: Zar.Haro@am.jll.com To contact Dave Walls: DWalls@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - LISTEN to the TOP BROKERS in DFW (2) Oct 22, 2017

Michael Becker hosted the TOP LISTING BROKERS panel at the Old Capital Multifamily Conference in Dallas. These 5 agents and their respective companies do almost 70% of the total sales in Dallas-Fort Worth. Wow! We have them all together. You will get an inside perspective on how apartment transactions are done in north Texas. Listen to questions and answers from the audience.

Episode 109 - Up to 43,000 Apartments may be OFFLINE in metro Houston. Is that an opportunity for investors? Oct 20, 2017

Tom Wilkinson is the ‘dean’ of apartment sales in Houston, Texas. He has been in apartment brokerage for over 25 years. He sells over 10% of all the B & C apartments in Houston; with most being OFF MARKET. Tom discusses what impact that Hurricane Harvey has caused on apartment owners. How will this natural disaster effect current and future investors? How much higher will insurance premiums rise? What much higher will labor costs go up? Will you be able to get buildings materials? What’s the timing to bring these down apartments back online? Will there be opportunities for investors in the near future? Listen to what Tom discusses. Great article on impact of Hurricane on Houston apartments: https://www.realpage.com/mpf-research/many-as-43000-apartments-appear-off-line-metro-houston/ Contact Tom Wilkinson: twilk4@ketent.com www.ketent.com Contact Hans Box: HBox@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - LISTEN to the TOP BROKERS in DFW (1) Oct 15, 2017

Michael Becker hosted the TOP LISTING BROKERS panel at the Old Capital Multifamily Conference in Dallas. These 5 agents and their respective companies do almost 70% of the total sales in Dallas-Fort Worth. Wow! You will get an inside perspective on how apartment transactions are done in north Texas.

Episode 108 - Raising Money through Syndication: Doing it the RIGHT WAY Oct 12, 2017

Gene Trowbridge is an attorney that specializes in helping clients raise investor money through syndication. If you are really rich, you can buy apartments all by yourself. But, for most of us, we must pool our money together called a syndication. The government has specific rules that syndicators must follow. The sponsor or syndicator is the person (or group of people) who sets up the investment structure, brings together the pool of investors, oversees and manages the investment, and ultimately through their efforts generates a profit for the investors. Gene describes some of the gotchas that syndicators must know before they start to raise investors money. You will want to take notes in this high content podcast. To contact Gene Trowbridge: crowdfundinglawyers.net To contact James Eng: JEng@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - What are the TOP LOAN PITFALLS? Can you give me an example or two? Oct 08, 2017

Michael explains some of the obstacles that may trip you up when applying for a commercial real estate loan. You have too much at risk- financial & reputation risk, not to understand some of the hurdles you may encounter.

Episode 107 - Selvam Sabapathy GOT OUT of corporate America- and NOW OWNS almost 1000 units Oct 06, 2017

Growing up in Australia, his parents instilled the value of owning real estate. About two years, he made the decision to get out of the RAT RACE and began to acquire apartments. He currently lives in central Texas. He and his partners own apartment buildings in California, Arizona and Texas. Selvam purchased a FRACTURED CONDO in Arizona and explains the challenges on owning and financing a condo that you do not own 100% of all the units. Afterwards, Selvam shares his experience on purchasing a large apartment building in San Marcos, Texas. San Marcos has tremendous growth and its 30 minutes south of Austin. Selvam explains on how he found and the closed on the transaction. To contact Selvam Sabapathy: selvams@avichiholdings.com To contact Hans Box: hbox@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - When negotiating a purchase sales contract; can you give me couple of examples of deal points that the seller or the buyer wanted- that you didn’t want to give? How did you negotiate through it? Oct 01, 2017

In today’s highly competitive apartment sales market, you must be a good negotiator to get what you want. Michael explains some sticking points that he has come across in the past.

Episode 106 - Transitioning from duplexes to multifamily with John Bollinger Sep 30, 2017

John Bollinger wants to own an empire of apartment units….by 2022…he wants 10,000 units. He started several years ago buying a duplex. He lived on one-side and rented the other side. He got a little taste of being a landlord. He liked having a small “cash register” or a tenant helping him achieve financial independence. Over the next few years, he bought several duplexes and four-plexes and then put together his own repair crew to rehab his properties. He then bought a 25 unit apartment building in the small town of Dilley, Texas. It was the only apartment building in the small town of Dilley. He liked the real estate investing business and wanted to make a career out of it. He reduced his hours at work and increased his hours into “his multifamily business.” Today, John owns 174 units. His current portfolio is two assets -110 units in Victoria and 64 units in Kingsville, Texas. He manages his own properties. Listen on how he acquired these assets and what he wants to pursue in the future. To contact John Bollinger: JBollinger@3CMmultifamily.com To contact Dave Walls: DWalls@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - What are you working on right now? Urban or Suburban? What do you like and why? Sep 24, 2017

Mike discusses some of the weaknesses and the strengths of the different property types (A, B, & C) in multifamily.

Episode 105 - Newbies #3 Anna Simpson - 70 unit FIRST TIME apartment buyer Sep 21, 2017

Anna Simpson is determined to build a portfolio of apartments for her and her family. This gal is a dynamo! Originally from Russia, she has been in the Texas for the last 13 years. She got the real estate investment bug from her father. She had a vision on what she wanted to do (own large multifamily assets) and NOW she is executing on that vision. She is COMMITTED to making it a success. Over the last few years she has been ‘in training’ to buy an apartment building. She educated herself with SPECIFIC EDUCATION on apartment investing from an apartment mentoring & education group. She made a few passive investments in other managing member’s apartment transactions…and now she was ready to buy her own deal. She was ready to lead. Anna tells the story about how she found her 70 unit apartment building in Arlington, Texas that came with some challenges and some opportunities. To contact Anna Simpson: Anna_D_Simpson@Yahoo.com or www.SimpsonMultifamily.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - I want to get smart in multifamily; what do YOU read? Sep 18, 2017

Mike initially focuses on high level national apartment market data and then general economy status and then shifts to local and regional apartment market information. He breaks his data sources into two different categories. Pay: CoStar.com, yardimatrix.com, alndata.com/market-reviews/, axiometrics.com, realpage.com/yieldstar/mpf-apartment-market-updates-trends-webcasts/ Free: bisnow.com, multifamilyexecutive.com/business-finance/business-trends/ nreionline.com, connect.media, francemediainc.com

Episode 104 - The secret to raising more money and buying more units...KEEP YOUR EQUITY INVESTORS HAPPY!! Sep 14, 2017

Ken & Wind Yue own hundreds of apartment units. They could not have purchased so many units without the help of happy equity partners. How do you make your equity partners happy? You have to be transparent. How you treat your partner AFTER you have taken their money is critical for your future success. Ken & Wind do an excellent job in treating their ‘investing partners’ with respect. Problem partnerships can be challenged by poor communication from the managing member to their limited partners. Ken & Wind explain how they keep current and future equity partners engaged and happy with their apartment investments. To contact Ken or Wind Yue: YueProperty@gmail.com To contact James Eng: JEng@oldcapitallending.com WeChat is found at www.wechat.com/en/ To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - What are the normal minimum investment amounts (ie. $50,000 or $100,000) a deal sponsor will ask of their passive investors? Is an HELOC, on a single family home, counted as liquidity? What is the current state of the market? Sep 11, 2017

Mike gives his insight on what’s going on in multifamily in DFW. He also discusses the impact of higher labor costs for apartment rehabs due to Hurricane Harvey in south Texas.

Episode 103 - YOU CAN own an apartment building and STILL keep your full time job Sep 08, 2017

Mit Scott and Greg Ford are business partners in the ownership of a large apartment building in Irving, Texas. They originally started with purchasing single family homes, then became passive investors in other people’s transactions and now own a large apartment building- while still maintaining their full time jobs. Ricardo asked Mit: What appealed to you most about multifamily in comparison to single family? Mit thought that you could create ‘greater value’ in a multifamily acquisition than in a single family purchase. Your house is going to be worth relatively the same as your neighbor’s home regardless of the finish out or appliances. Your home value will be based on other closed sales of similar homes in the submarket. In the multifamily arena, the value of that business is based on how much income you can generate. The higher the Net Operating Income (NOI) the greater the value you will create on your apartment investment. Mit gives an example on how they created additional value by giving tenants the opportunity to rent parking spaces close to their units. The impact from this marginal parking income has an unbelievable impact on over-all value. Single family ownership is not scalable and apartment ownership is. Greg gives us a real example on how a reverse-1031 exchange works. To contact: Mit Scott or Greg Ford mitandgreg@gmail.com To contact: Ricardo Hinojosa rhinojosa@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Can you force the seller to keep their FOOT ON THE GAS after you sign the sales contract? Sep 03, 2017

You WILL HAVE A PROBLEM with your loan…if the seller does not keep their eye on management operations and rental collections between the signing of the sales contract and the closing date. Lenders can possibly cut back loan proceeds if income declines or expenses rise.

Episode 102 - Buying a Deep Value-Added apartment: Creating a BEAUTIFUL SWAN from the UGLY DUCKLING Aug 31, 2017

Many apartment buyers are seeking to purchase a DEEP VALUE-ADDED property in a good neighborhood. These types of properties can be tough to find. Brian Holley bought a 160 unit apartment complex a few months ago. It needed lots of rehab to create a better product. He and his team will spend over $20,000 a unit in interior and exterior updating and repairs. Even though the occupancy was in the mid-90% range when acquired; Brian and his team, knew they needed to bring the property to the next level to capture better tenants to pay much higher rents. Listen to Brian discuss the challenges and opportunities he found with buying a deep value-added property. To contact: Brian Holley BrianPHolley@gmail.com To contact: Jonathan Ferrell JFerrell@OldCapitalLending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - How do you select a property manager and when in the process do you engage a property management company? Aug 27, 2017

After finding the right property; selecting the right property management company is the MOST important decision that an ownership group must determine.

Episode 101 - Good things CAN come to those that WAIT Aug 25, 2017

The father and son investing team of Jody Ambrose & J.D. Ambrose just purchased a large multifamily property in Texas. After looking for a building for almost 5 years, Jody & J.D. found the right property. Pineview Apartments has 152 units. They originally invested passively into someone else’s transaction, then they figured out pretty quickly that they wanted to lead an acquisition team and purchase a large apartment building. They had specific investment criteria that they needed to be met before they would move forward with a purchase. Over the next few years, the Ambrose’s searched for the right property. They looked at over 50 large apartment properties for sale and offered on several. In the podcast, Jody and J.D. explain their journey on finding the right property. To contact Jody Ambrose: jodyambrose@winsteadenterprises.com To contact J.D. Ambrose: jd@winsteadholdings.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Should you do a CRIME STATISTICS REPORT on the area around your potential apartment purchase? Aug 21, 2017

It is a REQUIREMENT to do a thorough analysis of the neighbourhood crime stats and school ratings when you are thinking about investing in an apartment building.

ASK MIKE MONDAYS - Mike, when you are buying a property, how do you handle the current staff that want to stay and how to screen them and then what do you do if you aren’t going to keep them? Aug 13, 2017

If available, retaining some or all of the existing staff can give you immediate inside knowledge on some of the property secrets that you did not uncover during due diligence.

Episode 100 - "Those who do not learn ‘apartment history’ are doomed to repeat it." -Scott Henderson Aug 10, 2017

Scott Henderson started in the apartment industry in 1982. He has learned some valuable lessons in apartment investing and brokerage over the last 35 years and shares them with you. He gives listeners a unique perspective on some historical events in the apartment industry and his assessment on what is going on today with apartment investing. Items that you should be aware of: -What caused the Savings & Loan Crisis and the impact it had on the apartment industry. -How over building can affect a market. -What caused the last major recession in apartment investing? -Is the current euphoria in apartment investing a bubble or reality. Perhaps a little bit of both. To contact Scott Henderson: scott.henderson@svn.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - What does MIKE build into his underwriting for the potential rise in CAP RATES when he sells, considering we are at historic lows in interest rates and cap rates? Aug 06, 2017

Michael gives some general rules of thumbs on how to “stress” your underwriting for a future valuation on the exit.

Episode 99 - A 150+ unit deal CLOSED in Waco Aug 02, 2017

In this podcast we speak with 4 lead-partners that came together to buy a 152 unit building in Waco, Texas. We discuss how they met, how they found the property and what they liked about the asset and of course…how they will make it profitable for their equity investors. To contact Kevin or Daniella Dhillon: dhillonpartners.com To contact Bryant Ho: bryantkho@gmail.com To contact Angel Flores: aoflores92@gmail.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - How do make sure the seller DELIVERS the property in the condition that you originally signed the contract? Jul 31, 2017

 Michael discusses what you should do to protect yourself right BEFORE you sign your loan documents and close on an apartment building.

Episode 98 - Quarterly Loan Officer Roundtable Discussion - What’s important in lending today Jul 29, 2017

The quarterly loan officer roundtable is an internal discuss with some of the loan officers at Old Capital on what is working or not working with lending. Jonathan Ferrell is introduced to the listeners. Jonathan joined Old Capital as a Senior Director. Jonathan has over 14 years in banking and is an expert on financing commercial real estate. James Eng gives us macro-economic feedback on how some of the different apartment markets are doing in Texas and the nation. Ricardo Hinojosa shares the importance of property management and getting them engaged early in the transaction. Looking at rental comps in the submarket and then building a an initial rehab budget early on with a qualified property management company, can save a ton of time on a deal that may not work. Ricardo goes onto explain some REFINANCE CASH OUT GUIDELINES for Freddie Mac Small Balance loans. Dave Walls talks about the challenges with affordable housing. Jonathan Ferrell stresses the importance of having the right budget numbers upfront when you apply for the loan because if it is slightly off your reimbursements for draws will have an impact. Check and double check your budget numbers, please. Les Meisl speaks about underwriting guidelines with Freddie Mac Small Balance and the MAXIMUM loan leverage you can expect for a refinance- cash out or even a purchase. Smaller, remote cities in the US can have lower leverage requirements than larger cities. Meaning, max leverage in Chicago will be 80%, but max leverage in Tupelo, Mississippi is 70% with Freddie Mac. One size of town will not fit all! Make sure you contact us to find out what the maximum leverage you can expect. Thanks for joining the conversation. To contact James Eng jeng@oldcapitallending.com To contact Ricardo Hinojosa rhinojosa@oldcapitallending.com To contact Dave Walls dwalls@oldcapitallending.com To contact Les Meisl lmeisl@oldcapitallending.com To contact Jonathan Ferrell jferrell@oldcapitallending.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Would you build an apartment building? Jul 24, 2017

Michael gives reasons on why he would NOT build large apartments at this time.

Episode 97 - Bryan Amos - Apartment inspector shares his INSIDE SECRETS of calculating rehab costs Jul 20, 2017

Multifamily physical due diligence is extremely important. You gotta know what you are buying! You need an apartment inspector to determine the condition of the asset you are buying. Bryan Amos is a multifamily inspector & engineer. He helps buyers uncover possible rehab concerns and potential future costs when they are considering purchasing an apartment building. He is looking out for you and your investors on any potential future capital costs. Bryan creates a reliable rehab/ construction budget for you and your lender to review. Whether the transaction is a stabilized property or a value-added property, most lenders should be able to include the rehab costs into your loan. Again, do not pay for rehab out of monthly cash flow. BUT BEFORE, you engage an inspector at your INITIAL visit at the property with the listing agent, you should have a back-of-the-napkin opinion on what some of the rehab items will cost to replace or repair. Bryan gives us some initial cost breakdowns on several big ticket items like roofs, air conditioning, foundation, & sewer lines. This invaluable discussion is based on Bryan doing hundreds of inspections of apartment buildings. Listen carefully and you will learn a ton of information. To get in contact with Bryan Amos: bryanamos@theomnigroup.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Do you see an end to the GOLDEN AGE OF APARTMENTS? Jul 16, 2017

Michael comments on his personal beliefs on apartment ownership. He points to a few factors that keep his outlook positive. According to a new study commissioned by the National Multifamily Housing Council and the National Apartment Association, delayed marriages, an ageing population and international immigration are increasing a pressing need for new apartments in the U.S., to the tune of 4.6 million by 2030. Currently, nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity; In the past five years, an average of one million new renter households were formed every year, which is a record amount; and, It will take building an average of at least 325,000 new apartment homes every year to meet demand; yet, on average, just 244,000 apartments were delivered from 2012 through 2016. Delayed house purchases- Life events such as marriage and children are the biggest drivers of home ownership. In 1960, 44 percent of all households in the U.S. were married couples with children. Today, it's less than one in five (19 percent), and this trend is expected to continue. The aging population- People ages 65-plus will account for a large part of population growth going forward across all states. The research shows older renters are helping to drive future apartment demand, particularly in the northeast, where renters ages 55-plus will account for more than 30 percent of rental households. Immigration- International immigration is assumed to account for approximately half (51 percent) of all new population growth in the U.S., with higher growth expected in the nation's border states. This population increase will contribute to the rising demand for apartments. Research has shown that immigrants have a higher propensity to rent and typically rent for longer periods of time. There will also be a growing need for renovations and improvements on existing apartment buildings, which will provide a boost in jobs (and the economy) nationwide. The research found that 51 percent of the apartment stock was built before 1980, which translates into 11.7 million units that could need upgrading by 2030. The older stock is highly concentrated in the northeast.

Episode 96 - Michael Blank interviews Michael Becker: The Right Way to Work with Brokers to Find Off-Market Deals Jul 13, 2017

Michael Becker knows something about finding apartment buying opportunities. He and his investors own thousands of apartment units. Michael explains what it takes to get the momentum going with listing agents and other influencers. Michael shares his win-win strategy on how to build deeper relationships with the "right people" in the apartment brokerage community.

To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Can I get a LOAN PRE-APPROVAL on an apartment transaction? Jul 09, 2017

Michael discusses what lenders are looking for when applying for financing on an apartment transaction. With apartment lending- the quality, condition and location of the asset are the most important factors in underwriting. A PRE-APPROVAL is not going to be available because 2/3rds of an apartment lending decision is based on subject property. The lender needs to have a complete picture on a number of critical underwriting variables. Examples: Where is property located and age? What are historical cash flows for the last 2 years and year to date? How much deferred maintenance does the property currently have and what is rehab budget necessary to cure? Who is going to manage the property? What does your monthly proforma show; what is your future expected operating expenses and total income? 1/3 of an apartment lending decision is based on you. What is your liquidity? What is your net worth? What is your past apartment experience and level of ownership or management? Do you receive consistent personal income outside this transaction? Are you going to have additional guarantors, with a sufficient balance sheet that will stand with you? Bottom line, the lender can give you an indication on how much you can qualify for, but because the age, condition and location of the asset is so important in an underwriting approval, a WRITTEN PRE-APPROVAL, before the asset is selected is NOT WORTH VERY MUCH. Speak with your commercial mortgage broker on how to structure the transaction for approval. They will give you a verbal insight on how much you can qualify for based on the total picture. Checklist of Items You’ll Need to Provide Your Commercial Loan Broker: ✓ Updated signed personal financial statement ✓ Liquidity verification (bank and/or brokerage statements) ✓ Last 2 years of personal/corporate tax returns ✓ Real estate resume- detail your real estate experience. “I bought a home, fixed it up, and sold it.” Tell the story of your successes in real estate. It’s like you’re applying for the job of running the property. ✓ Schedule of Real Estate owned (what do you currently own; loan balance, value, contingent liability or non-recourse; annual NOI, annual debt service, etc.) ✓ Broker’s Offering Memorandum on the property you are looking to purchase ✓ Property’s historical monthly operating statements (last two years and YTD) ✓ Current rent roll ✓ Five digital pictures of the interior/ exterior of the property ✓ Your analysis of transaction; share your monthly PROFORMA for the next 12 months. How are you going to operate property?

Episode 95 - Lessons learned from 30+ years in Property Management: City Gate Property Group Jul 06, 2017

Lessons learned from 30+ years in Property Management: City Gate Property Group Dawn Waye is President of Dallas/ Fort Worth based City Gate Property Group third party property apartment management. G. Patrick Smits is the CEO. Both have deep knowledge of managing in the “B & C – workforce housing” space. They currently manage over 10,000 units. Dawn & Pat share some ideas on what the ‘biggest bang for the buck’ will get you as an apartment investor. Dawn shares the ‘4 P theory’ for successful property management. 1) People- Are the onsite people they engaged with your success? 2) Price- Are you getting the best price for materials and labor? 3) Product- Do you have a good idea on what other properties in your submarket are charging in rent for their amenities? 4) Promotion- How are you driving new tenants to the property? Social media? Active marketing? Michael asks Dawn and Pat about surviving a future down turn in apartment investing. To get in contact with Dawn Waye: dwaye@citygatepg.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Interest Only Needed? What you should expect Jul 03, 2017

Interest only can certainly help the cash-on-cash returns on your investment. If you are purchasing a broken property- deferred maintenance, bad management, bad occupancy; you need some type of payment relief during times of weak cash flow. Having an interest only period during the renovation is certainly typical for a BRIDGE type of loan. Banks typically don’t like to do lots of interest only…because the bank regulators don't like interest only. Most community banks on bridge loans will only do 6-18 months of interest only during the rehab…then it will modify into a principal and interest payment.

Episode 94 - Al Silva - TOP PRODUCING BROKER gives inside tips on how to win an apartment deal Jun 29, 2017

Al Silva has successfully closed nearly 15,000 units and over $600 million in investment sales transactions and in doing so has averaged an industry leading 99.6% closed sales price to asking price ratio. Al is currently based out of the Marcus & Millichap Fort Worth office, where he has been the top agent in seven out of nine years since the office opened in 2007. You think it’s tough to be awarded a deal by the seller… Al comments on how difficult it is even for a listing agent to win the opportunity to list a property for the seller. Al believes that overall transactional volume will be down 10% in 2017 compared to 2016. He sees that as a blip on the road, when you compare how hot the apartment market has been for the last few years. Al has seen a large increase of international buyers coming into the Dallas/ Fort Worth market. Al comments on what submarkets he likes in the DFW area. If you are a buyer, Al has advice on how you should bid on a property transaction on the tangibles and some of the intangibles needed to win. To get in contact with Al Silva: al.silva@marcusmillichap.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Who does the REAL ESTATE BROKER work for and who pays their fee? Jun 25, 2017

Michael discusses who represents the buyer and seller and who pays the listing agent. In today’s HOT apartment market…most apartment listing agents WILL NOT share the sales commission with a buyer’s representative. Unlike the single family home market, where it is typical for the listing agent to share or split commission fees, most apartment listing brokers will not pay your agent representing you. If you have buyer’s agent in a buyer’s transaction, you will likely be paying that agent out of your capital raise.

Episode 93 - Newbies #2 - Buying your first deal Jun 23, 2017

This is the second podcast focusing on the new apartment buyer. “The first transaction is the hardest…” continues to be our theme. Today, we talk to a couple that was motivated to think about creating a passive income stream by a serious car accident. That life changing event put a new perspective on how important passive income can be. Doug is a dentist in north Texas and was severely injured in an auto accident. He was in a coma for over a week and in physical therapy for months. Imagine not being able to work and earn income during the period time that you are recovering. Think of the impact that this would have on your family. This may never happen to you; but it could. Perhaps passive real estate income should be part of your investment plans. Doug & Jennifer Jopling own a small apartment building in Fort Worth, Texas. We focus on the journey from owning a few single family rental homes to buying an apartment building. Doug & Jennifer share a challenge that they uncovered during the due diligence process. Listen to what was found and how they overcame the unique challenge. To contact Doug or Jennifer: geronimoproperty@gmail.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Will a FED RATE hike have an impact on Commercial Real Estate? Jun 18, 2017

Yes and No…. After the Fed’s raised rates last week; the 10 year treasury fell. The 10 year treasury is the benchmark interest rate for many commercial real estate transactions. The long term interest rates are getting flatter as compared to the short term interest rates. At this time, it should have a limited impact on investor that purchase or own commercial real estate for a long term hold. We have seen interest rates RISE with the community banks. Many investors use community or regional banks for short term bridge lending. That small rise should not have a significant impact; but be aware in the future if your loan is tied to an adjustable rate index.

Episode 92 - Newbies #1 - Buying your first deal Jun 17, 2017

Buying your first apartment building is the hardest. The second and third become substantially less stressful and much easier …because you have created a “team template” for successfully closing an apartment transaction. You have put your team together. You have your banker, attorney, broker, insurance professional, third party property management company & physical inspector or engineer. Just like the general manager of a baseball team…you cannot play without players… You cannot close without a support group. Gary & Heidi Young bought their first apartment building a few months ago. They wanted to start off with a small property so that they could own and manage themselves. Gary & Heidi knew that owning and investing in apartment building you would need specialized education. Before they invested in real estate, they invested in education. Gary & Heidi knew that owning and investing in apartment buildings you needed specialized education. They joined a local education and mentoring group to give them a confidence boost. Recently, they closed on an 11 unit apartment building. They enjoy the thrill of buying something and making it better. To contact Gary or Heidi: txinvesting@gmail.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

Episode 91 - Why do we BUY real estate? CPA’s Mark Patten & Mandy Thiebaud show us the numbers Jun 10, 2017

Mark Patten & Mandy Thiebaud are CPA’s with McKinnon Patten & Associates in Dallas. Their firm provides comprehensive tax, accounting and advisory services to a full range of real estate professionals and entities. Mark & Mandy are experts in advising clients on why owning real estate is more than just a return on your investment. With multiple IRS tax implications, the CPA’s layout some structural ideas on how to put your transaction together. Mandy explains the different ways earned income and passive income are treated by the IRS. She also handles the difference between on-going replacements & repairs versus a capital expense. Mark talks about cost segregation studies and how rapid depreciation could help your real estate investments. What is a 1031 exchange and how can investors benefit? Mark talks about the tax benefits that a like-kind exchange can bring investors. To contact Mark or Mandy: mpatten@mckcpas.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - What should I be aware of when applying for BANK financing? Jun 05, 2017

Not all Lenders are the same; some Banks are not real estate lenders. Not all Lenders like Apartment loans Not all Lenders like older properties that need to be rehabbed and repositioned Not all Lenders like non-recourse loans; most will not even offer non-recourse loans Not all Lenders will like the part of town that you want to invest in. Not all Lenders will give you maximum leverage to acquire and rehab with your loan Not all Lenders will amortize apartment loans greater than 15 years Your large bank loan officer is not the decision maker; help him/her build a case for their credit committee to approve the loan. Loan officers are sales people and problem solvers, but they don’t have signing (approval) authority.

Episode 90 - Raj and Raje: “Apartment investing changed my life.” Jun 02, 2017

Raj was a civil engineer for the City of Dallas for 17 years. His wife, Raje is a dentist. After losing a huge amount of retirement money in the stock market crash about 9 years ago, they went searching for another way to invest. They wanted something that they could control. They looked at many options… but were drawn to real estate. Before they invested a dime into real estate, they invested in high quality apartment education and mentoring. They wanted to learn the process of real estate and make sure they would not make critical and costly mistakes. Having a mentor reduces the time of ramp up. Raj and Raje began buying value added apartment properties and then leverage them into several apartment complexes with over 600 units. Today, he is a former engineer with the City of Dallas and a full time apartment investor. Raj’s contact info: rajguntnur@icloud.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - What is the State of the Market? May 29, 2017

Top of the market (A+ institutional construction) is getting a little frothy in the urban core and suburban markets throughout the nation. Spread between the A property and C property is flatting on the cap rates. Coming out of the 2008 recession the A’s recovered first and then the B’s and C’s followed. The cap rates between the different property types have compressed tremendously. Mike gives his insight on why his group is focusing on the “top of the work force housing” space.

Episode 89 - Jacob Ayers interviews Michael Becker on purchasing over 4300 apartment units May 27, 2017

Recently Michael Becker was a guest on the Jacob Ayers Real Estate Podcast. Michael talks about his journey from being a commercial real estate banker to being “THE GUY” buying and operating apartments. Michael discusses what made him successful in winning the purchase sale contract when he first started in this competitive market. If you don’t have a qualified mentor, get one! If you don’t have a team of professionals to vouch for you (attorney, banker, management company, etc), get some! Your first deal will be the hardest….so leverage your team to help you succeed. Listen to jacobayers.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Green Program May 22, 2017

What is it and does every lender have that? Banks do not, Fannie and Freddie do! Freddie's is called Multifamily Green Advantage. Fannie's is called the Green Rewards Program. BOTTOM LINE: Older properties need to be more energy efficient; the agencies are incentivizing owners to change current usage by landlords and tenants of electric and/or water by 20%... if you are successful, your new loan may have a lower interest rate up to 33 basis points. Wow!!

Episode 88 - “I can handle things! I'm smart! Not like everybody says... like dumb” – Fredo Corleone May 19, 2017

My father would always say to me…Paul, there is a right way and the wrong way of doing things. Unfortunately, sometimes I would do the wrong thing and I would have to learn from my mistakes…the hard way. In this podcast, as you know…we try to discuss the right way and the wrong way of investing in and operating apartments…so you don’t have to learn the hard way. We all have some degree of COMMON KNOWLEDGE…meaning we all know something on that topic. That something may be right or it could be wrong; BUT without having years of experience you have to listen to someone that has really done it…someone that has made those mistakes. Today, we don’t want to have COMMON KNOWLEDGE…we want SPECIFIC KNOWLEDGE. Doing it the right way...in apartment ownership and management with BEST PRACTICES. In the podcast today we have the TEACHER of doing it the right way… Susan Weston. With over 40 years of apartment experience in operations, human resources, and learning and development, she has pretty much seen it all. Professional, knowledgeable site management has become more and more important in ensuring maximum returns to owners and investors. In 2017 and into 2018 this may become even more critical as markets may soften and concessions grow and occupancies waiver. Susan updates us on several topics that affect the apartment industry. - Emotional support animals in apartment units - Annual inspection fees by municipalities - Fair Housing- some amazing data on claims - Protected Classes & Litigious residents - Applicant screening - Social Media Marketing & Reputation risk - Be Pro-active in education with CAMS or CAPS certification Apartment ownership is a huge investment. On behalf of your investors, and your family, make sure that you have the best information and education on apartment management and ownership that is available. We don’t want you to wind up like Fredo. Contact Susan Weston at Susan@SusanWeston.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Can you give me a description on how NOI is calculated? May 12, 2017

Net Operating Income is the key metric in the multifamily world for investing and financing. The two main components are operating income and operating expenses. Mike breaks down some line items on the operating statements and tells you what you need to look for.

Episode 87 - Paul Grimme bought a FRACTURED condo. Yikes! May 11, 2017

Paul Grimme is originally from Nebraska. After 28 years in the hi-tech industry he retired in 2016. Paul explains what lead him to investing and buying apartments. Paul had not gone the typical route of investing in single family homes but he did passively invested in five multifamily partnership opportunities with over 1000 doors. On his first large real estate transaction, Paul bought a fractured condo. Paul and his wife, Julie, bought 76 out of 108 units in the Village Condominiums in Waco, Texas. He bought 70% of the total. One seller was selling a block of units that they owned. The remaining 32 units were owned by individuals and were not available for sale. A fractured condo can be an unusual investment. Unlike apartments, where you buy ALL the units at one time; a fractured condo acquisition is when you are buying a specific number of units in a condominium complex. Investing in a fractured condo comes with some unique challenges like “who controls the management of the homeowners association and where and how those dues going to be spent?” Paul reflects on the history of the condominiums and how it became a fractured condo. The investment strategy, over a period of time, is to purchase all the remaining condo units, crush the condo association and then operate the property like an apartment property. Here is Paul’s contact info: paul@cherokeecreekinvestments.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - When you ask “for the money” from your investors, what is important for your presentation? May 07, 2017

Typically on a capital raise you want to have a pre-existing relationship with your potential investor. The number one question that you must answer for the investor is A) How are they going to get their money back; B) What is the timeline going to be. Also, make sure that your debt lines up with a similar maturity as your investment strategy. Originating a new short term loan on a long term investment strategy is probably not going to work. Make sure that you contact a qualified attorney that can help you build a Private Placement Memorandum that discloses all potential risks an investor needs to know.

Episode 86 - This Buyer is a ‘Hands On & Bottom Line’ type of guy May 04, 2017

Mike Spotts just closed on a stabilized 94 unit apartment building. Mike grew up in Plano and attended Texas State University. He was in the high technology business and wanted to transition into real estate. Mike started buying duplexes and single family homes. Mike was equity rich with a 13 homes, but was liquidity poor. He decided to sell his homes and raise liquidity to buy apartments. Mike is a big fan of multifamily education and mentoring. That was his first investment. He invested in himself with apartment education. Mike had passively invested in 3 separate apartment partnerships before he felt ready to ‘lead’ his own transaction. His first transaction is a property called Agave Villas Apartments in Irving, Texas. Mike liked the submarket and condition of the asset. The property is near a high school. During due diligence, Mike and his team found a huge water leak. Hundreds of gallons were flowing down the drain every day. When fixed, that one line expense item saved them thousands. Additionally, Mike explains the bottom line on getting higher rents after doing some moderate rehab on his asset. Amazing. Mike decided that he wanted to know more about repairs and maintenance to his property so went back to school to learn air conditioning and heating repair. He does not work on his own systems, BUT having 94 individual HVAC systems, he wanted to make sure he knew what the real costs were. It probably was a good investment. Ricardo explains how he was able to provide Fannie Mae financing for a first time apartment buyer. Here is Mike’s contact info: MSpotts@greystoneprop.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Should we ask the seller for bank statements when buying an apartment building? Is that a normal question to ask? Apr 30, 2017

Michael uses his DUE DILIGENCE checklist to help him request documents from the seller. Everything is written out and are standard items for the seller to deliver. Make sure that you get a copy of this ‘wish-list’ at the OldCapitalPodcast.com website.

Episode 85 - Kenny Wolfe owns 2100 units in four states. How can YOU do this? Apr 27, 2017

Kenny purchased his first out-of-state property in 2014. Kenny initially started buying apartments in Texas and then he bought in Colorado, Oklahoma and Ohio. Kenny’s philosophy is have “real estate and will travel.” He likes to buy in landlord friendly states that contain diverse economic drivers for growth, low unemployment, and historical population growth. Kenny explains the challenges of living in Dallas, but owning apartments in different states. He actually visits his properties out of state more frequently than the ones he owns in his immediate area. Everyone believes that proformas and partnerships work in straight lines, but Kenny believes in being flexible to handle ‘operational curve balls’ as one of his keys to his success. Kenny chats about his latest acquisition in Waco, Texas. Kenny bought this property because of its location near Baylor University. It was 50% occupied and needed lots of rehab…but its spectacular location made it a great opportunity. The seller could not provide historical financials to the property. Typical bank financing was not available because of lack of financials and low occupancy on the asset. Kenny had to be creative on how he was going to finance the acquisition and rehab of the property. He discusses the strategy of using ‘hard money’ as a tool. Hard money can be an option when an ‘’all cash” purchase is not available. It’s a short term solution and can help you acquire more assets. To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Laundry income; should you own the machines or should you partner up with a laundry vendor? Apr 23, 2017

Michael explains the upside and the downsides of either partnering with a laundry vendor or owning your own machines. Michael also talks about increasing your NOI with other non-rental income line items.

Episode 84 - Working With Brokers and Finding the Best Off-Market Deals Apr 20, 2017

The Old Dawg chats with The Big Dog (Michael Becker)

Bill Manassero with the Old Dawg REI Network Podcast explores why Michael Becker has a track record unlike few others. In less than 4 years, Mike has acquired over 4,000 units. That's right! 4,000 units in less than 4 years! In this very special podcast, Mike will be sharing some of his insider secrets on how he got there so fast. In his interview he will be discussing tips for working with brokers (your number one source of great deals), leveraging and how to find the best off-market deals. • How to recruit people into your deal to help you qualify for the good loans • How to build and maintain a strong deal funnel • How Mike went from buying single family foreclosures, rehabbing and renting them out to buying multimillion dollar apartment communities • How to get brokers to listen to you even when you have no prior experience • How to get brokers to call you first when they have great off-market deals • The importance of knowing how to properly underwrite potential properties • Creating a powerful “elevator pitch” to share with everyone you meet to attract great deals and high net worth investors Listen to the olddawgsreinetwork.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Why would you PASS on an apartment transaction? Apr 18, 2017

What kills a transaction right off the bat? Michael only buys in ‘specific’ areas and will not compromise on the asset location or quality. Even though it might be tempting…don’t buy in the ‘hood. Michael’s investing advice is that you must define the submarket that you want to make a position in. Michael describes what the buying environment is like in Dallas today.

Episode 83 - If you ‘can’t break it’…you must invest Apr 14, 2017

Bob DeLong was concerned about his retirement and was looking for a solution. He found that investing in apartments could create passive income. He now invests in apartments in central Texas. He is a managing member and a passive investor in several hundred apartment units. Bob believes that the Austin ‘Class C’ apartment market is incredible or insane. Demand outstrips supply…rents are going up and occupancy is at 98%. Bob has properties in Austin and San Antonio, Texas. Prior to getting into apartments, Bob was in the engineering and construction business for over 35 years. He is a hands-on type of guy. His initial investment strategy was IRA’s and 401k’s until he realized he needed something more. His retirement lifestyle was in jeopardy. He was concerned that drawing out his money from a 401k, and not putting money back in, was frightening. He felt that he needed passive income to retire if he was going to live another 20-30 years. Bob found an apartment mentoring and education group. Bob was initially skeptical and only made some small passive investments in other peoples properties. Over a period of time and four apartment investments, Bob began to believe that apartment investing was a viable solution for his retirement with passive income. Bob believes that having the mentoring and education group, that he joined, was the ‘game changer’. He could not have done it without them because it would have taken him years of trial and error to figure it out. After being a passive investor for several years, Bob decided to become a managing member and put his own transactions together. In the podcast, Bob describes how he operates and manages his properties in central Texas. Bob’s contact info: bob.delong@texcelproperties.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Can you make money; if you buy a SMALLER APARTMENT building? What are some of the RULES OF THUMB for employees per unit? Apr 09, 2017

Smaller buildings can typically be more challenging to staff and then push payroll expenses over less units. Owning apartments is a scaleable business. Mike explains some of the rules of thumb on how many units you need to own to hire a manager and maintenance person and some of the solutions that are necessary to make money on your investment.

Episode 82 - They are all still friends after buying a 142 unit apartment building together Apr 07, 2017

Friends for over 17 years; Boris, Oshi, Leonid & Albert currently live in Northern California and now own 200 apartment units in Dallas, Texas. How do hardware designers that live over 1700 miles away, find, own and operate apartment buildings? Boris chats with James on how they found their first 55-unit apartment property and how they managed a $300,000 rehab project from a long distance. After the rehab, the partners were able to increase rents by over 30% a unit. They increased NOI dramatically, thus increasing value. They did not syndicate this deal. They only used their own personal funds. The next purchase was a 142 unit- Class C property in Arlington, Texas. They purchased a slight value added property. They had to assume the current Fannie loan and apply for a “second lien” supplemental to get total leverage up to 75%. Wow! That was a tough one. They had only owned their first property for a little over a year…and now they were going to double the size of their portfolio. Fannie had to get comfortable with the new sponsor and their management company. Fannie knew the seller (they liked his long term ownership experience) and now we had to convince Fannie to substitute them with a new “limited experience” buying group. Yikes!! We got it done. The guys explain on how they are educating potential multifamily investors in the Bay area. They run a successful MEETUP GROUP in Las Gatos, California. They believe MEETUPS are a great ways of bringing investors together. Advice to new apartment buyers…make sure you have the correct rehab amount needed upfront when applying for a loan…and never think you can take it out of cash flow. Have more money; than less. It’s always easier to return investors’ money- than having a capital call with your investors. To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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.

ASK MIKE MONDAYS - Can I get a loan on an apartment building; if I am not a US CITIZEN and live over seas? Apr 03, 2017

It can be done. Mike explains the additional complexity and underwriting rules for foreign nationals to finance apartments in the US.

Episode 81 - The Passive Income Physician Mar 31, 2017

Thomas & Timothy Black are brothers and principals at Napali Capital, LLC. Napali Capital acquires and operates Class B & C apartments. Tim recently retired as the chief operating officer for GREAT WOLF LODGE corporation. Tom is currently an EMERGENCY ROOM DOCTOR that also helps physicians and other high-income professional overcome career crisis by teaching them how to expand their personal net worth through passive income real estate. What a combination! These brothers have something going for themselves. Why should doctors look into investing in commercial real estate? Tom reflects on the high rate of burn out with critical care professionals. In the last three years…6 in 10 emergency room doctors are burned out with the excessive amount of hours worked, government intervention, lawsuits, patient satisfaction and declining insurance reimbursement. Tom acknowledges that physicians have high income, but they have limited personal net worth. Typically, physicians are not financially savvy due to the time that is needed to learn and master their medical craft. What medical school fails to teach doctors, Dr. Black educates. Tom’s newly released book is called “The Passive Income Physician.” Tom shares a memoir/ guidebook that helps high-income professionals understand how passive income through commercial real estate investing can help buy back your freedom. The book has a very “Rich Dad / Poor Dad” theme. Contact Tom & Tim Black at http://freedomintheblack.com/author/tomblack/ “The Passive Income Physician” is at https://www.amazon.com/Passive-Income-Physician-Surviving-Expanding/dp/0692827404 To receive our FREE 15 page WHITE PAPER REPORT on the 2017 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

ASK MIKE MONDAYS - How difficult is it to ASSUME a FANNIE MAE loan? What is a SUPPLEMENTAL loan? Mar 27, 2017

A unique feature with a Fannie Mae loan is the ability to assume the existing loan from the seller and then apply for a new subordinated loan to get max leverage. Mike explains the additional benefits and needed structure of applying for a Fannie Mae assumption & supplemental loan.

Episode 80 - Listen to who the Apartment Experts listen to: Greg Willett Mar 23, 2017

Greg Willett- Chief Economist RealPage RealPage is the leading provider of on-demand software solutions for the rental housing industry. RealPage supplies property management software to over 12,000 ownership groups that own or control over 30,000,000 residence units. They are the Facebook or Google in their industry. RealPage collects a tremendous amount of data on trends within rental housing throughout the country. Greg and his team analyze the up to the minute data. They are data miners. Greg believes that this strong rental cycle started in 2010 with huge demand. 2017 will still have great performance for the nation. Probable peak on annual rental revenue growth was in 2016. Golden age of apartments is now; but it is not realistic to expect for continuous sustainability. Rent growth is good at 3.5%. Developers are continuing to build apartments. They will deliver over 360,000 units nationally this year. Greg likes Sacramento, the Inland Empire in California, Las Vegas, Seattle, & DFW. Texas has 4 major markets. DFW is a step ahead than other Texas markets with rent growth at 6%. Almost 50,000 units under construction right now in DFW. Houston, is seeing some pricing concessions and rental cut on mostly A product. Austin is seeing a little slow down from the year before with rental growth at 3%. San Antonio is the most stable of the Texas markets. Rent growth is at 3%. In 2017, Dallas will deliver over 25000 brand-new Class A units. Still big gap between A & B product; A vs B is a 40% rental price difference. Annual rent growth on value added B is 6%. DFW added 680,000 new jobs since 2010. Qualification index: Rent to Income ratio has stayed the same from 2010. Never one type of renter profile. RealPage: https://www.realpage.com MPF Research: https://www.realpage.com/mpf-research/ Dallas/ Fort Worth: https://www.realpage.com/mpf-research/apartment-demand-drives-dallas-fort-worth/ To receive our FREE 15 page report on the FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please go to OldCapitalPodcast.com and sign up. Interested in learning more about how Multifamily Financing and connecting with Michael Becker and Paul Peebles. Contact: MBecker@spiadvisory.com or PPeebles@oldcapitallending.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.

Ask Mike Mondays - When rehabbing a value-added property; where do you start first? Mar 19, 2017

Always have a physical due diligence report done BEFORE you buy the property. Make sure that you understand the rental submarket and the tenant demographics. Rely upon the information from a qualified property management company that operates in the same submarket. Don’t over improve the asset too much for the submarket; if the market doesn’t recognize the improvement (pay you more rent) you could have thrown good money after a bad idea. Listen to Michael's thoughts

Episode 79 - Meet the CBRE- Dallas Team that did over $1.5 billion in apartment sales last year Mar 17, 2017

Chris Deuillett and Danny Baker

Chris has been selling older (Class B & C) apartments in the Dallas market for 17 years. Chris comes from a family of real estate professionals; his two brothers and father are in the business. Danny is originally from Wisconsin and has been selling newer (Class A, A-, B+) apartments in the Dallas market for 7 years. CBRE is a Fortune 500 company that represents buyers and sellers of all different asset classes throughout the globe. In 2016, the Dallas CBRE office did over $1.5 billion in multifamily sales. Perspective: Chris is seeing a lot more buyers in the market with less inventory than last year. The biggest challenge today; too many buyers, not enough sellers. DFW market is one of the top markets in the country for rent growth & occupancy on already built apartments. The amount of new construction supply of apartments in Dallas is a concern, but not too big because the new construction does not really compete against older assets with lower rent costs for work force housing. The recent rise in interest rates did have some effect of the reducing the value of assets. Advice: When sellers are listing their properties: have a good story on what the next buyer can do to increase value and also do not change management companies right before you decide to sell. How does CBRE help the seller choose a new buyer? Have your ducks all lined up; financing, equity, initial rehab budget, management company review operations and then actually visit the property. CBRE uses a questionnaire to qualify a potential new buyer and when a potential buyer is identified, they will do an introduction call with the buyer and seller. Doing well on the phone interview with the listing agent and the seller is critical. Why are sellers selling today? Loan is maturing or partnership has completed their original business plan. Building a personal relationship with the listing broker is critical to your success. Contact: Danny Baker at danny.baker@cbre.com or Chris Deuillett at Chris.Deuillet@cbre.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@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

ASK MIKE MONDAYS - What does it take to become a deal sponsor? Mar 13, 2017

What happens first; raise the investors money or find a building? Or is it vice versa? Before you do either, you must understand what it takes to be the managing member (responsible party) to operate an apartment building. Michael explains how a deal syndication works and being transparent with your investing partners.

Episode 78 - These rookies bought $27 million in apartments and still have their full time IT jobs Mar 09, 2017

In less than 10 months, Venkat and Ramana, purchased 3 apartment buildings in 3 different states with over 500 units, for $27 million. Now, they are hooked on buying apartments. Venkat is the IT Services business. Initially, he started buying single family homes. From 2007-2014, Venkat had purchased over 20 homes. He maxed out his ability to get long term Fannie Mae home loans and wanted to learn how to scale his real estate business. He found an apartment mentor that specifically taught multifamily investing. He then found a partner with Ramana in that same mentoring group. Ramana is the IT Services business for 13 years. He had done some investing in real estate, but on a limited basis. First transaction was in Norman, Oklahoma. Second transaction was in Phoenix, Arizona. Third transaction was in Mesquite, Texas. Phoenix seller forced buyers (Venkat & Ramana) to use their local mortgage company. After 3 weeks, their mortgage company could not deliver. Buyers brought Old Capital into the transaction. Old Capital was able to close within 43 days and with max 80% leverage and a non recourse loan. Next deal, Tradewinds Apartments was a $15 million acquisition in Mesquite, Texas. James explains the difference between CapX and Re-Incurring expenses and why it is important when you need to qualify for the loan. Venkat relied upon his property management company to research the submarket to make sure they could hit higher rents. What we learned: More transactions that you do, the easier it becomes to raise capital from limited partners. You can make 50 calls to new investors and explain it 50 times; or you can invite 50 friends and investors and do a recorded webinar and explain it one time with slides by explaining the benefits of investing in your deal. Being part of an apartment mentoring group can help you bring your apartment investing business to the next level. Connect: Venkat at get2venkat@gmail.com Ramana at rmkorada@yahoo.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@OldCapitalLending.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

ASK MIKE MONDAYS - What do lenders look for when approving an apartment loan? Mar 06, 2017

70% of the lending decision is based on the building operations (historical and future) and 30% is based on the sponsor (liquidity, net worth, past ownership experience of apartments) Listen to Michael explain what’s important in apartment financing.

Episode 77 - Learn to grow your portfolio to 10,000 units Mar 03, 2017

John Griggs, with Presidium Group in Dallas, owns over 10,000 apartment units. He co-founded the company in 2002.

John and his business partner Cross Moceri, were unhappy lawyers in California when they got bit by the real estate bug. They first started buying, rehabbing, and selling single family homes and four-plex’s in California. They wanted to expand, and after looking into several markets throughout the country, John and Cross decided on investing in Dallas. 1000 units eventually became 5000 units in just a few years. Presidium stayed on the sidelines, during the recession. At first, Presidium started buying value added ‘C class’, now they are building large new apartments in good areas and still buying value added ‘B class.’ Tips: In a declining market, you don’t want to be the last guy to change your rent structure. You want to meet the market. Don’t keep your head in the sand; keep the building filled!

Keep your property clean with good maintenance during a down turn. Buy and renovating apartments still works in Texas. Make sure the neighborhood can support the rent bumps after the rehab. Do your homework. Getting started in new apartment development was a very steep learning curve. Mitigate your risk with having the best team (bankers, general contractor, architects) on your side. When buying a building, make sure that you raise more equity than you need too, because you can always give it back to the investors if you don’t need it. Don’t get caught short with capital at the beginning. Contact John at JGriggs@presidiumre.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@OldCapitalLending.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.

ASK MIKE MONDAYS -What can I expect when a building catches on fire? Feb 26, 2017

Episode 76 - You need a Property Management Company that you can TRUST Feb 23, 2017

A professional property management company can make or break your profitability and overall success to your apartment investment. Find a management group you can trust. A property management company should treat their clients money as their own. Craig Lashley & Todd Parks are with SIMC Property Management. SIMC is a third party property management company that manages over 7500 apartment units. SIMC focuses on properties with a minimum size of 200+ unit apartments. SIMC likes to find employees outside of the apartment industry to join their team. Property Management companies should have a few different divisions. Example: 1) accounting, 2) human resources, 3) construction & rehab ACCOUNTING- is responsible for receiving rental income, paying the expenses and then delivering monthly financial statements to the ownership group. They are also responsible for lender communication for construction draws on rehab and the capital replacement reserves. HUMAN RESOURCES- HR overseas the onsite property manager, assistant manager, leasing agent, maintenance manager, assistant manager & porter. CONSTRUCTION- Your property management company needs to improve and update your property. They execute your vision. Having an internal construction group controlled by the property management company can be cheaper and more consistent than hiring an outside crew. A large property management company can buy in bulk and import fixtures, flooring and low flow toilets directly from overseas, thus saving huge costs. TIPS: When you put a property under contract to buy, make sure that seller does not take their eye off the ball before the property changes hands. If occupancy or NOI fall, your lender may have to reduce your loan dollars. Maximize your rental revenue with LRO. Hotels and airlines use it to get the highest price in the market. Find out if you can use rental optimization for your building. Huge amenity push in apartments to capture new tenants. Craig likes a ’24 hour-package room’ for boxes delivered by Amazon or UPS. Valet Trash is a great low cost amenity for tenants that will help your bottom line. Todd uses Facebook Messenger to communicate with potential tenants. GOOD ADVICE: As an owner, don’t get in the middle between the management company and the on-site employee…or you could get fired. Let them do what they do (operate the building)…and you do what you do. (find the next building to purchase and raise the equity) To receive our FREE 15 page report on the FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@OldCapitalLending.com Interested in learning more about how Multifamily Financing and connecting with Michael Becker and Paul Peebles. Contact: MBecker@spiadvisory.com or PPeebles@oldcapitallending.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

ASK MIKE MONDAYS - After you buy an apartment building, rehab it, stabilize it and are now contemplating selling it... What factors should you consider when selling your apartment building? Feb 19, 2017

Episode 75 - Quarterly Lenders Roundtable for First Quarter 2017 Feb 17, 2017

The Old Capital team talk about interest rates rising at the end of 2016 and its direct impact on loan proceeds, future of apartment investing throughout Texas and the nation and challenges with underwriting on specific transactions.

Old Capital closed over $420 million in loans in 2016. DFW will have over 25,000 new unit apartment deliveries for 2017 Still concerns in Houston and west Texas. Fannie Mae Green Program can reduce your interest rate up to 33 basis points Challenges with buying apartments in smaller markets with military concentration Freddie Mac Small Balance loan is now available up to a $6 million loan amount Cross Collateralization can be a solution in bank financing Rebuild Ability issues. Can property be rebuilt if more than 50% is destroyed in fire? Financing Challenges with environmental issues. Rent growth. Class A rent growth is slowing. Class B & C is much better. Houston is a preview market with Fannie Mae and impact on financing apartments Focus on location and quality of the asset when buying. Old Capital brings “certainty of execution in lending and closing”.

- Old Capital Speaker Series presents Gregg Willett, Chief Economist with Real Page for March 8th Grapevine Convention Center. RSVP at info@oldcapitallending.com - Old Capital Speaker Series presents Dr. Mark Dotzour, Former Chief Economist from Texas A & M Real Estate Center on April 26- Grapevine Convention Center. RSVP at info@oldcapitallending.com To receive our FREE 15 page report on the FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@OldCapitalLending.com Interested in learning more about how Multifamily Financing and connecting with Michael Becker and Paul Peebles. Contact: MBecker@spiadvisory.com or PPeebles@oldcapitallending.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. Did you know that when you leave a positive review on iTunes it improves our ranking and helps us recruit great guests? Can you leave us a positive comment at the Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles? Click here to leave a review on iTunes

ASK MIKE MONDAYS - When you buy a VALUE ADD apartment building; where should you invest your rehab dollars to get the largest capital gain? Feb 13, 2017

Episode 74 - Aaron Katz Feb 10, 2017

In 2010, Aaron joined an apartment mentor program & learned about apartment syndication. Now he owns hundreds of units with his equity partners. Currently owns 3 apartment buildings: 200 unit Fair Meadows 150 unit Rock Island 340 unit La Jolla Terrace Sold 2 apartment buildings last year: 90 unit Pioneer Villas- Value Added 116 unit Casa Bella- Value Added His father emigrated from Russia and didn’t speak english. Father created the largest mattress discounters company in county. Aaron worked several years for his father and learned determination, tenacity and to follow one course to success. Aaron faced many challenges on his first apartment transaction. His initial management company was not focused and had to be replaced immediately. Putting a transaction together is like putting a puzzle together. Aaron discussed the genesis on his latest acquisition- La Jolla Terrace Apartments. Aaron had built a personal relationship with the listing agent for over the last 5 years. The property received over 15 LOI (letter of intent) offers from other potential buyers. He made it to the best and final. His offer was not the highest. The seller requested a personal conference call with the buyer to discuss his purchase game plan. He felt very positive after the call. He wanted to make sure the seller understood his buying passion. Aaron had his financing in place and let his seller know he was prepared. Buyer moved forward with Aaron. Aaron is persistent and has positive expectations of success. Aaron raised $7 million with 70 investors for La Jolla. Aaron recommends the book The E-Myth: Working ON your business…instead of IN your business. Aaron started with 7 investors and now has a database of over 100+ investors. He learned that you must be transparent with your investors to succeed. To receive our FREE 15 page report on the FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@OldCapitalLending.com Interested in learning more about how Multifamily Financing and connecting with Michael Becker and Paul Peebles. Contact: MBecker@spiadvisory.com or PPeebles@oldcapitallending.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.

ASK MIKE MONDAYS - How do I avoid getting my apartment foreclosed upon? What are the BEST OPERATING PRACTICES when you buy an apartment building? Feb 06, 2017

Episode 73 - Working together we will accomplish more! Feb 03, 2017

Lane Beene and Jason Hull are heroes. Lane is a current US AIR FORCE- F16 pilot and owns apartments. Jason is a former NAVY SEAL and now finances apartments. Business is like combat and you need the right team members you can trust. Both owe their outstanding military success to being able to count on good teammates.

Things you will learn:

Jason:

Every day is a game day. Going through BUDS, Jason never thought he would ring the bell to quit. 16 people in a SEAL TEAM and everyone has a role and a responsibility. As a team leader…”calm is very contagious.” You will never have the perfect plan…but you must make a decision and work with your team.

Lane:

Every mission is important and all teammates play critical roles. No tolerance for mistakes. Surround yourself with teammates with high creditability and capability. Rely upon the whole team, not just one individual. America is still the land of opportunity, don’t forget that we live in the best country. To grow, you must rely on other people.

To receive our FREE 15 page report on the FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please email us at INFO@OldCapitalLending.com

Interested in learning more about how Multifamily Financing and connecting with Michael Becker and Paul Peebles? Contact: MBecker@spiadvisory.com or PPeebles@oldcapitallending.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 SPI Advisory LLC.

ASK MIKE MONDAYS - After you get an apartment building under contract; now what? How do you determine IF you are buying a LEMON? Jan 30, 2017

Episode 72 - Robert Helms from the Real Estate Guys Radio Show on the Old Capital Real Estate Investing Podcast where were discuss Multifamily (Apartment) Financing Jan 24, 2017

Want to learn how to get started in Syndicating Multifamily (Apartment) Properties?

This week on the Old Capital Real Estate Investing Podcast we interview Robert Helms, the popular host of the Real Estate Guys Radio Show. We discuss Robert's background and how he got started syndicating real estate deals. Later, we talk about how Robert has interviewed many famous real estate icons including Rich Dad Poor Dad author Robert Kiyosaki, legendary sales trainer Tom Hopkins, Successful Real Estate Syndication Expert Ken McElroy as well as President Donald Trump, twice!! For more information about the Real Estate Guys upcoming events The Secrets of Successful Syndication and the 15th Annual Investor Summit at Sea...please send an email to ocpodcast@realestateradio.com

Interested in learning more about how Multifamily Financing works? Please visit us at www.oldcapitalpodcast.com. There you can receive a copy of our 15-page white paper report titled "Fundamentals of Multifamily Financing" and to learn more about upcoming events by Old Capital Lending and connect with Michael Becker and Paul Peebles.

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 SPI Advisory LLC.

ASK MIKE MONDAYS - When you are looking to do your first multifamily syndication, who are your critical team members and what are their roles? Jan 23, 2017

Episode 71 - Would you buy your first apartment building in the Detroit area? Greg & Nicole Scott did Jan 19, 2017

After being passive investors in over 900 apartment units; Greg & Nicole Scott decided to purchase their first apartment building in an area that they know best...Detroit, Michigan. Listen to how these investors overcame challenges in making this investment a success.

Episode 70 - Dallas - ARA Brokerage Jan 10, 2017

We start 2017 with a discussion with the top producing team of ARA- Dallas. ARA has the largest brokerage platform in the nation. Listen to what’s in store for multifamily in the primary and secondary markets of Texas for 2107.

Episode 69 - Mr. FHA Dec 26, 2016

An FHA loan is not for everyone…but it could be for you. Sam, our FHA underwriter, visits the podcast to discuss the advantages of financing your apartment building with an FHA loan. Do the benefits of low rates, higher leverage, and a longer fixed term out weigh the additional costs, larger replacement reserves and length of time it takes to get approved?

Episode 68 - Bethany and Gregor Ulteig Dec 12, 2016

In the last 24 months, Bethany and Gregor Ulteig have invested in 16 apartment transactions as equity investors. Now, they have a unique perspective on how lead partners should treat their equity partners. Listen to what they believe is important when you interact with your fellow partners.

Episode 67 - Lowering Your Property Taxes Dec 05, 2016

Property taxes, on apartments, is a huge expense. You need an advocate to help you lower that cost. In the podcast today is Mark Cantrell with Cantrell McCulloch in Dallas. Mark explains how you can improve the value of your property by lowering your property tax burden.

Episode 66 - Kevin Chalmers & Chase Maupin Nov 20, 2016

For years, Kevin Chalmers & Chase Maupin, were team members at the same hi-tech company. Now, they are transitioning into low-tech…apartment ownership. Chase owns 2 apartment buildings and Kevin owns 1. Listen to how these friendly rivals are building their own independent business’. Can you do what Kevin (kevin@legacyreigroup.com) and Chase (contact@belltexassets.com) are doing?

Episode 65 - Alan Stewart Nov 14, 2016

Alan Stewart has been investing in apartments for several years. First, as a passive investor, then as a co-sponsor with a partner and now a deal sponsor for his own transaction. Alan shares his journey on the acquisition of a 55 unit, value added property in Azle, Texas.

Episode 64 - Crowdfunding Nov 07, 2016

What is crowdfunding? Elizabeth Braman with Realty Mogul discusses the benefits of using crowdfunding. Realty Mogul are the pioneers in crowdfunding. Learn how raising equity through crowdfunding could change the way you do business.

Episode 63 - Rupa Keskar Oct 31, 2016

Rupa Keskar buys apartments in secondary markets because she found the primary markets (Dallas, Austin, San Antonio) to be too competitive. In the last 18 months she purchased over 700 units in Waco, Texas. Listen to how she found and closed on these value-added properties.

Episode 62 - Doug Wilson Oct 22, 2016

Investing in self storage properties could be an alternative to multifamily. The two different asset types are more similar than you think. Doug Wilson visits the podcast and compares and contrasts the benefits of investing in self storage.

Episode 61 - Will Jarnagin & Michael Ware - Berkadia Oct 17, 2016

Will Jarnagin & Michael Ware are with Berkadia in Dallas. We sit down and visit with these two top producing investment sales brokers and find out about what you need to know about acquiring apartments.

Episode 60 - Quarterly Lenders Roundtable Oct 08, 2016

The Old Capital Lending team sits down and discusses what’s working and what’s not working in commercial real estate lending. Listen to how we structured several lending transactions for our buyers this quarter. We also answer listeners questions.

Episode 59 - Fight of the Century Sep 30, 2016

‘Fightin’ Freddie Mac versus Fannie ‘The Legend’ Mae. These two lenders are fighting for your business. We compare and contrast the two non-recourse, apartment lenders- Fannie and Freddie. Underwriters Fritz and John explain what borrowers should know about both programs.�

Episode 58 - Will Crozier Sep 26, 2016

Will Crozier is very inspiring. He buys large value-added apartments and turns them around and also co-owns a successful materials company that imports fixtures from China and sells them to apartment owners. Will just sold a 444 unit and then bought a 500 unit building. Listen to how he transforms properties.

Episode 57 - Meredith & Brian Sifford Sep 18, 2016

Meredith & Brian Sifford began investing in real estate about 3 years ago. This husband and wife team started with two single family homes and then transitioned into apartments. 18 months ago they found the perfect 38 unit “starter” apartment property. Recently, they purchased a 60 unit “value added” property in the same submarket. Listen to how they found and structured these transactions.

Episode 56 - Pradeep Mistry Sep 08, 2016

Pradeep Mistry transitioned from HI TECH to LOW TECH. After 30+ years in the high technology business, Pradeep now owns and self manages Class “C” apartment buildings around the Austin, Texas market. Listen to how Pradeep is building a LOW TECH business by providing great housing for his tenants and great returns for his investors.

Episode 55 - James Greene and Brad Perry Sep 01, 2016

Talk about stress. You found the right deal, you’re under contract with $100,000 nonrefundable earnest money to the seller and you just raised over a million dollars from investors….but unfortunately your loan was just denied. Uh-oh….What do you do? Listen to James Greene and Brad Perry discuss the hurdles and opportunities they encountered on a recent apartment acquisition.

Episode 54 - Dante Andrade Aug 27, 2016

Dante Andrade just purchased his first apartment building in Arlington, Texas. He explains his journey from initially being a limited partner and equity investor in someone else's deal, to now running his own deal. He is now the “captain” of his own team of investors on a class “C” apartment building. Dante purchased an “off market” transaction but it was filled with several challenges. Listen to how he overcame those challenges.

Episode 53 - Brett Zaitoon - Property Manager Aug 21, 2016

Hiring the right property manger can make you or break you. Brett Zaitoon owns a third-party property management company in Texas. He manages hundreds of apartment units for owners. Listen to why you need a property management company to help in your pre-purchase analysis (proforma, review of asset condition, and creating a rehab budget). Brett gives you some inside into property management challenges. Good interview.

Episode 52 - Community Banker Discussion Aug 14, 2016

Meet John the Community Banker. What is a Community Bank? It is a locally based Bank that lends almost entirely into its regional area that wants a “relationship” with you. Community banks can help you get into your first transaction. Listen to what the difference is between a local lender, a national lender, and Fannie Mae and how it can benefit you

Episode 51 - Tom Lafferty Aug 06, 2016

Apartment owner, Tom Lafferty's full time job is a Captain in the fire department. On the podcast, Tom discusses how he originally got into the apartment business and what it takes to buy a 78 unit value added property.

Episode 50 - JC Castillo Jul 29, 2016

JC Castillo lives in San Jose, California and buys apartments in the Dallas area. He started his acquisition journey in 2007 by purchasing a 24 unit and a 50 unit building; now he only looks to buy at least 125 units and above. Listen to how he builds great relationships with brokers, lenders and employees when he lives a thousand miles a way. Good Interview.

Episode 49 - Rowan Properties Jul 22, 2016

Rowan Properties sell apartments in Texas. Mike Burch and his team have been advising apartment buyers and sellers since 1985. We wanted to know how the last apartment buying cycle is different from this one and what were the signs before it ended. We also discuss their success strategy for buyers to be awarded a deal.

Episode 48 - Justin Martinez Jul 17, 2016

Justin Martinez, who lives in Dallas, now owns two apartment buildings in Oklahoma. Three years ago, he caught the apartment ownership ‘bug.’ Initially, he invested as a limited partner in someone else’s apartment transaction and then transitioned into buying his own opportunity. He shares his journey of buying, financing and operating properties hours away from his home.

Episode 47 - Supriya Sriraman Jul 07, 2016

Supriya Sriraman purchased a small (50+ unit) VALUE-ADDED multifamily property in Texas. Previously, she was a limited partner on several apartment transactions and now it was time for her to lead her own team of investors. Listen to how she did it.

Episode 46 - Listen to the Apartment Appraiser Jul 01, 2016

“What’s driving apartment values? A Peek Behind the Appraisers Curtain” Aimee Morgan, with the CBRE Commercial Appraisal Group in Dallas, helps us understand how apartments are valued. Also, learn what type of amenities apartment owners can add that will create the greatest return on investment. Good interview.

Episode 45 - Brad Sumrok Jun 24, 2016

R2R Mentor Investing in multifamily properties is a team sport. A good team needs a good coach. In multifamily ownership it all starts with a good mentor. A mentor is an educator. Brad Sumrok talks about building your business with “transfer of creditability by bringing in the right team members.” Building your creditability quickly helps to compress the timeframe for your success.

Episode 44 - 5400 Class 'A' Units Owned & Managed Jun 17, 2016

Chris Faulkner and Trent Wood have a ‘secret sauce’ when they buy Class A properties. Listen to how they created a dynamic corporate culture to benefit their investors, employees and tenants. They initially laid out a vision and then executed the plan to purchase and manage over 5400 units within 7 years. Now, they share their knowledge.

Episode 43 - Freddie Mac Small Balance Jun 09, 2016

John Darrow is a specialist in the Freddie Mac Small Balance loan program. Loan amounts between $1,000,000- $5,000,000. Listen to him explain the differences between Fannie Mae, Freddie Mac and regional Bank loan programs. Great information!

Episode 42 - Bryan Amos Jun 02, 2016

Bryan Amos is a ‘physical needs’ engineer. He helps you recognize what potential mechanical, electrical, plumbing problems you will be faced with before you buy a new apartment building. His assessment helps investors understand the physical deficiencies of their new asset during due diligence. What’s working; what’s not. He overseas a team of experts to determine what level of rehab budget you will need. A must listen interview.

Episode 41 - Quarterly Lender Roundtable May 26, 2016

Old Capital loan officers answer listeners questions. Hans Box, Ricardo Hinojosa and James Eng explain loan structure on apartments, office, and self storage. This roundtable discussion focuses on what is important on putting together successful financing for your project.

Episode 40 - Shari & Steve Gould May 19, 2016

Shari & Steve Gould just bought a 184 unit apartment building in Irving, Texas. They started off buying single family homes and now they are buying one large apartment building every year. They own and self manage several hundred units. Can you do that?

Episode 39 - Kelli Lovelace - Commercial Closing Attorney May 13, 2016

Kelli Lovelace has over 25 years in closing commercial real estate transactions. Kelli explains what a title policy covers and the process of signing loan documents. Listen to an expert tell you what you need to know.

Episode 38 - What's Important in Apartment Insurance May 06, 2016

Kim Stallings, an apartment insurance broker in Texas, educates us on mitigating the risk when you buy an apartment building. Listen to her explain what’s important in attaining insurance coverage on your asset. A great interview. What's Important in Apartment Insurance

Episode 37 - David Shippy Apr 25, 2016

David Shippy owns over 1400 units in Austin and Corpus Christi. He was a “famous” engineer for 30 years and then transitioned to become a “legend” in the apartment business. Listen to why he inspires and mentors new apartment investors in Texas.

Episode 36 - Susan & Terry Matheny Apr 18, 2016

Susan & Terry Matheny own several apartment buildings in central Texas. Listen to how they acquired and now manage apartments in Austin and Bryan, Texas. In 2011, they won the Austin Apartment Association Independent Owners of the Year Award for the 54 unit Retama Trace Apartments. This year they are finalists for that same award on their 192 unit building. Good Job!

Episode 35 - Darwin German Apr 10, 2016

Darwin German and his partners own thousands of apartment units in Dallas, Texas. He has been investing in apartments for over 25 years. Darwin discusses his ‘Five R’s’ - Recapitalize, Rehab, Reposition, Refinance, Repeat.

Episode 34 - Start small and grow large Apr 03, 2016

The Marcus & Millichap’s Dallas office has a unique group that only focuses on apartment buildings with less than 75 units. Listen to how Nick Fluellen, Evan Burke & Scott Ogilvie advise their clients on the smaller properties in north Texas. Great interview!

Episode 33 - Bonnie and Kerry Mar 20, 2016

Bonnie and Kerry recently purchased a 106 unit apartment building. Now they own over 1000 units. Right after the podcast, she quit her job of 30 years...to focus on acquiring apartments. Good job, Bonnie!

Episode 32 - Stephen Shulholm Feb 28, 2016

Stephen Shulholm, and his team of investors, purchased a 164 unit apartment building in South Dallas. He shares with us his “road map” on how he did it.

Episode 31 - Tom & Brenda and Bhuvan & Pratima Feb 14, 2016

Multifamily Investing can be a team sport. Listen to how Tom & Brenda and Bhuvan & Pratima came together to purchase three apartment buildings. Also, we talk about challenges in getting their loan closed when Fannie Mae tells us “NO” at the last minute. Uh-oh!

Episode 30 - Skip Bird Feb 07, 2016

Skip Bird owns over 4000 units in the DFW area. He draws out a road map on his success that you can follow. Listen how he acquires, rehabs and stabilizes B & C properties. Great interview!

Episode 29 - Transwestern Jan 31, 2016

The Transwestern Dallas office sold more than 15000 units in the last 24 months. Yes….15000 units….Wow! Listen to the nations top apartment brokers- Taylor, Philip & James explain how they do it and why you need to know them.

Episode 28 - Ken & Wind Yue Nov 30, 2015

Ken & Wind Yue explain how they went from owning 70 single family homes to now owning and managing 3 large apartment buildings. Listen to how these immigrants achieved the american dream.

Episode 27 - Lane Beene Nov 23, 2015

Lane Beene just purchased a 22 unit property in Fort Worth, Texas. He is rehabbing a "C-" property into a "B+" property. Listen to how this full time AIR FORCE F-16 pilot got into the multifamily business. Can you do what Lane is doing?

Episode 26 - Ryan Wehner Nov 08, 2015

Ryan Wehner manages almost 8000 apartment units. Listen to what is important before your buy an apartment building... physical due diligence, rental survey, rehab budget & proforma.

Episode 25 - Need an immediate improvement to your NOI? Nov 01, 2015

Katie Anderson explains why water conservation methods will give your bottom line a large boost.

Episode 24 - WWFMD means What Would Fannie Mae Do? Oct 26, 2015

Listen to underwriter Fritz, with a National Fannie Mae DUS lender, discuss what's important in getting a NON RECOURSE Fannie Mae loan. If you are thinking of doing a future apartment syndication, you want to listen and take notes.

Episode 23 - Jacob and Arleen Garza Oct 18, 2015

Listen to Jacob and Arlene Garza on how they went from ZERO to owning hundreds of apartment units in Texas. They transitioned from working for someone else to working for themselves and their investing partners.

Episode 22 - Texas Real Estate Attorney Dick Ruschman Oct 11, 2015

Dick shares his insight on commercial real estate contracts and what buyers and sellers must know. Make sure you take notes.

Episode 21 - Non-Recourse Bridge Lending Oct 03, 2015

What? Yes...it is possible. Listen to Jonathan, the underwriter with one of our large regional banks, explain how to qualify for a Non-Recourse Bridge Loan. Great Interview.

Episode 20 - Sven and Angel Sep 27, 2015

Sven and Angel are partners on 38 unit Hacienda Serena. Listen how co-ownership and self management works for them. Their loan also had 3 years interest only. Wow!

Episode 19 - James Eng Sep 19, 2015

James Eng with Old Capital will explain how a CMBS loan works. Listen to his 12 years of underwriting experience on this NON RECOURSE permanent loan option for apartments, office & retail. Fascinating information.

Episode 18 - Ryan Heddleston & Cathy Finn Sep 06, 2015

Ryan Heddleston & Cathy Finn are experienced 3rd party property managers, share what it takes to manage a multifamily property.

Episode 17 - John Mix May 17, 2015

John Mix is a passive investor in several apartment syndications. John shares what he looks for when he's investing in an apartment deal.

Episode 16 - Mike Ochstein May 10, 2015

Michael Ochstein, a season Apartment owner operator, shares his story on how he's owned as many as 7,500 units at one time over his 28 year career.

Episode 15 - Charles Ho Apr 26, 2015

Charles Ho shares how he's acquired both Car Washes and Apartments Complexes

Episode 14 - Cornell and Vivian Williams Apr 18, 2015

Cornell and Vivian Williams share their experiences in acquiring and self managing apartment complexes.

Episode 13 - Will Crozier Apr 10, 2015

Will Crozier share his tremendous success in the multifamily business over the past four years.

Episode 12 - Joe Joy Apr 03, 2015

Joe Joy shares how he purchased a 74 unit apartment complex on his first deal

Episode 11 - Fannie Mae Underwriter Tony Mar 03, 2015

An interview with Tony, a Fannie Mae Underwriter with 30 years of experience. In this interview, you will hear an insider's view on what it takes to get a Fannie Mae loan approved.

Episode 10 - Jakob Andersen and Richard Furr Feb 08, 2015

In this interview you will hear from two experienced Multifamily brokers who discuss the current state of the market.

Episode 9 - Dustin Miles Jan 14, 2015

Dustin shares how he got started as a passive investor in his first apartment complex and now has transitioned into the lead partner in a apartment complex. He shared some lessons learned along the way with us.

Episode 8 - Brad Sumrok Dec 21, 2014

Brad shares how he got started his investing career by investing in a 32 unit apartment complex and has done over 1,200 units in his career. Brad also shares how he has taken his experiences and used those to help him mentored hundreds of people on how to purchase and operate apartment complexes.

Episode 7 - Andrew Patton Dec 03, 2014

Andrew shares how he got started as a single family investor and transitioned into being a lead investor in multiple apartment complexes in a short period of time.

Episode 6 - Jason Sharpe Nov 24, 2014

Jason discussed how he was able to locate and purchase his first apartment complex in Carrollton Texas.

Episode 5 - Rupa Keskar Nov 17, 2014

Rupa shares how she got started as a passive investor in her first apartment complex and now has transitioned into the lead partner with her second apartment complex. She shared some lessons learned along the way with us.

Episode 4 - Kenny Wolfe Nov 10, 2014

Kenny shares his experiences owing 1,200 Apartment units. He discusses how he got started and the success he has enjoyed in the business

Episode 3 - Kim Radaker Nov 01, 2014

Kim shares her experiences with purchasing, rehabbing, managing and selling Multifamily properties. She talks about how she has successfully started a complementary business which started to fill a need she had to help rehab her own projects.

Episode 2 - Nick Fluellen Oct 22, 2014

Nick shares his experiences as both a highly successful broker and owner of Multifamily properties.

Episode 1 - Mac Lawson Oct 07, 2014

Mac Lawson shares with us how he was able to quit his job in the financial services business soon after he started investing in real estate. Mac owns a 176 unit apartment complex and over 50 houses in the DFW area. You will hear how he acquired and rehabbed them as well as a few funny stories along the way.

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