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

The Old Capital Real Estate Investing Podcast is aimed at Multifamily Real Estate Investors both new and seasoned. Hosts Michael Becker and Paul Peebles deliver no-hype education from an experienced commercial banker’s perspective. You will gain valuable insights from in-depth interviews with real life investors who are actively acquiring and operating apartment complexes in today’s environment. You will discover how they are identifying, financing and operating multifamily properties, as well as helpful advice on how to get started and avoid common mistakes. Be sure to subscribe today, as there is a new episode released weekly.

On our show we’ll feature industry experts and discuss topics such as:

• Syndication
• Private Placements
• Commercial Real Estate Investing
• Apartment operation and renovations
• Creating Passive Income
• 1031 exchanges
• Commercial Real Estate Lending
• Fannie Mae Financing
• Freddie Mac Financing
• CMBS Loans
• How to buy your first commercial property
• Property Tax Protesting
• How to get Started with your first Multifamily acquisition
• Saving money on Taxes
• Multifamily Mentor
• Rich Dad Robert Kiyosaki

Visit us at www.oldcapitalpodcast.com or www.oldcapitallending.com

Latest Episodes:

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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.

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