094: Talk Is Cheap, Show Me The Check

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How do you source deals to grow your multifamily business to own 6 000 units in just six years It s all about relationships I m talking to Michael Becker principal at Strategic Property Investment SPI Advisory He handles all aspects of property operations from accounting and asset management to capital improvement renovation projects and taxation Topics on Today s Episode Borrower vs Lender Michael s transition to finding his own multifamily deals All Work No Play Michael s motivation to experience life before it s too late Principal Perception Build and leverage relationships and capital for projects Property Process Assemble team balance deals with loans and run projects Lingo and Language Education comes before building establishing relationships How to source a deal It s all about the relationship and getting to know others Biggest Risk for New Operators Being under-capitralized for long-term holds that impact cash flow Crystal Clear Role Make money by finding deals and money everything else is noise Go with Your Gut Feeling Even if you need the money walk away and say No Get Real to Grow Know where you are what you know where to start and who you know to win deals Links and Resources Mentioned Old Capital Podcast with Michael Becker SPI Advisory Institutional Property Advisors IPA RealPage Fannie Mae Freddie Mac Edward Jones Automated Clearing House ACH Schedule K-1 Form 1065 RingCentral Kahuna Investments Multifamily Legacy Podcast on YouTube Multifamily Legacy Podcast on Facebook Quotes by Michael Becker I had a lot of relationships I had a lot of experience I just wasn t using those to the best of my capability I get to spend a week in Germany going to Oktoberfest in lederhosen with some of the most powerful apartment brokers in Dallas and Fort Worth It s really simple People do business with people they know like and trust The way that you make money is to go find deals and find money Everything else is noise Don t forget to download my Free Workshop Quickstart Video Series and if you like what you have heard please leave a review on iTunes Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Click here to visit this podcast episode