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Ep 494: Securing a $40 Million Lifeline- The Year Long Journey to Closing the Elusive MF Deal
Manage episode 413374870 series 3413169
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In Episode 493 of the Hive podcast, host Daniel Martinez and returning guest Craig McGroutherdiscuss the complexities and challenges of a $105 million tax abatement portfolio deal in Houston. The episode highlights the difficulties encountered due to changes in tax abatement policies by the Houston mayor, leading to a risk of losing a substantial $40 million investment. Despite facing economic turbulence and banking crises, the team managed to maintain investor confidence and eventually closed the deal after a year-long effort. The story showcases the importance of resilience, investor relations, and navigating political landscapes in large-scale real estate transactions. Introduction and Background of the Deal (0:00-1:03): Daniel Martinez introduces Craig McGruther, who shares the initial details of their ambitious $105 million tax abatement portfolio in Houston, emphasizing the scale and ambition behind their biggest project yet. Major Challenge Encountered (1:28-2:00): Craig describes the pivotal moment when, a month before closing, they received a memo from the mayor of Houston halting all tax abatement deals, putting their $40 million investment at risk and highlighting the unpredictability in real estate ventures. Strategies to Overcome the Setback (2:00-3:08): Despite facing potential deal collapse due to the mayor's announcement and banking crises, Craig narrates the intensive efforts made to reassure investors and maintain the deal's integrity, ultimately leading to the deal's successful closure in a challenging environment. The Importance of Investor Relations (5:22-6:01): The segment emphasizes the critical role of transparent communication and trust in investor relationships, illustrated by the team's commitment to keeping investors informed throughout the process, thereby retaining 90% of the equity despite no immediate returns. Text π± 210-972-1842 Text π "Course" to learn how to make 6 figures on one land deal. Text β΄οΈ "Hive" to get added to weekly meetings. Text π "Apple" to schedule a 1-on-1 call with Anthony & Daniel. Text π¬ "Land" to join The Million Dollar Land Mastermind π Need Inbound Real Estate Leads. https://www.hiveleads.io/ π Follow Us on YouTube https://www.youtube.com/channel/UCbulcrC4WbOy5Fzu0eWzNVQ/?sub_confirmation=1 π Follow Us on Instagram https://www.instagram.com/hivemindcrm/ π Check Out https://www.hivemindcrm.io/ π Check Out Our Land Mastermind https://www.milliondollarlandmastermind.com/landmastermind π Pick Up All Event Recordings here. https://thehiveislive.com/recording π Follow Us on TikTok https://www.tiktok.com/@hivemindcrm?lang=en πJoin the FB Group https://www.facebook.com/groups/137799891494707 π Check us at Join Us! https://thehiveislive.com/ Help support the show. https://anchor.fm/hivmindcrm/support
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