show episodes
 
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 we ...
 
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show series
 
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 …
 
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…
 
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 ven…
 
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…
 
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 …
 
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 y…
 
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 o…
 
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 disc…
 
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 fro…
 
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 mone…
 
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 bigg…
 
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, wou…
 
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, w…
 
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.…
 
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 …
 
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…
 
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 continua…
 
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; w…
 
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…
 
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 in…
 
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 confu…
 
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 invest…
 
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 apar…
 
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 …
 
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 no…
 
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