EPS 325 - "Jeff Adler with YARDI MATRIX, is a very smart - BIG PICTURE- apartment guy. You need to listen to him!"

Before becoming “DATA NERD IN CHARGE” at Yardi Matrix, Jeff Adler was Chief Property Operations Officer for AIMCO and managed a platform of over 160,000 units. At the Old Capital Speaker Series, James Eng with Old Capital dives into the current economic landscape, covering the U.S. growth forecast for 2025, persistent inflation, and a tight labor market. They also discuss the multifamily housing market that is showing mixed performance, with rising rents in some areas and slower construction due to higher costs. Jeff explores geopolitical shifts like reindustrialization, trade policies, and how these factors influence real estate and investment strategies. And then finally discussing the impact of emerging technologies on property management and opportunities in secondary markets.

Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and your long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!

EPS 324 "Greg Willett, Chief Economist at Leaselock, Discusses Texas Apartment Market Outlook: Economic Concerns, Regional Trends, and Investment Insights"

Greg Willett is Chief Economist for Leaselock. Greg has been an apartment data analyst and real estate observer for over 30 years. He discusses apartment investing trends and opportunities. Greg Willett expressed concerns about the economy, noting vulnerabilities in consumer confidence and rising credit card debt, which may affect renter demand for apartments. He discussed the current leasing season, noting normal demand and occupancy increases, with some rent growth in Dallas and Austin. Willett highlights challenges in new class A deliveries and solid performance in middle-tier to bottom-end products. He shared that Houston is performing well due to less new supply and strong employment growth. Austin faces challenges due to high construction rates and a slowdown in tech job growth. San Antonio is impacted by Austin's struggles. Yes. There has been a slow start to transactions in 2025, but activity is expected to pick up. The ten-year treasury yield stabilization may help. He also shared that developers face challenges with construction costs and labor shortages. Garden suburban projects are more viable than mid-rise or high-rise constructions.
To contact Greg Willett: leaselock.com

Leaselock offers deposit replacement products to help renters with affordability challenges and mitigate risk for landlords.
Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and your long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!

EPS 323 - "From Anesthesiologist to Real Estate Mogul: Dr. Paul Pena's Journey to Financial Independence and Multifamily Success"

Dr. Paul Pena, who transitioned from being a full-time anesthesiologist to a full-time real estate investor. Dr. Pena shares his journey, starting with single-family homes in El Paso, Texas, and moving to multifamily properties. He discusses his first multifamily investment in Fresno, California, a 28-unit property, and the challenges and successes he faced, including raising rents significantly and achieving a 20% cash-on-cash return for investors. Dr. Pena also talks about a more recent investment in Ventura, California, a distressed property that required extensive rehabilitation. He emphasizes the importance of education, tenant care, and providing jobs through real estate investments. Dr. Pena's philosophy includes long-term investment and financial independence, allowing him to enjoy life and spend time with his family. He encourages new investors to get educated, take care of tenants, and understand the risks involved in real estate investing.

Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and your long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!

EPS 322 - "Unlocking North Texas Investment Potential: Inside Rowan Multifamily Advisors and the Future of B & C Multifamily Sales"

Rowan Burch, Matt Waskow, and Coleton Burch of Rowan Multifamily Advisors share their expert insights into the current market, drawing from their experience in selling hundreds of large apartment buildings since 2010. They gave us market insights on the 1960’-1980’s apartments and the possible occupancy challenges and why buyers are being more selective. Also, they spoke about the level of property tour activity that they are experiencing. A great conversation with a knowledgeable investment sales team in DFW.

Contact Rowan Multifamily Advisors: rowanmultifamilyadvisors.com

Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and your long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!

EPS 321 - What questions would YOU ask an operator of 30,000 units?

Obviously, we had lots of questions. Since 2008, Charlie Young and his partners at Madera Residential have acquired over 120 large apartment buildings, again that’s “120 buildings- NOT just units. Billions of dollars of total asset value across many states. Today, they’re navigating a recapitalization of several properties they purchased in 2021 & 2022, by bringing more capital into the properties. Charlie is open and transparent with his lenders and investors, ensuring they understand the process and what to expect. Tune-in as Charlie shares his insights into the current state of the apartment market.
To contact Charlie Young: http://maderaresidential.com/contact

Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and your long-term success. Visit http://SPIADVISORY.COM today and start your journey toward smarter investing!

ASK MIKE MONDAYS: "Michael, Given the Impact of Stricter Immigration Policies, How Are Landlords in Class B & C Apartments Responding to Occupancy Challenges in Workforce Housing?"

Some landlords of Class B and C apartments were not concerned with tenants' immigration status, and many rented to undocumented individuals over the last few years. Today, stricter immigration policies have notably impacted occupancy rates in workforce housing, especially in areas with a high concentration of older apartment buildings.

Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!

EPS 320 - "Maximizing Value: Chris Pearson, Top Investment Sales Broker at Marcus & Millichap- Dallas, Shares Insights on Small Apartment Deals Under 75 Units”

Whether you’re a seasoned investor or just dipping your toes into the world of small apartment buildings, Chris Pearson and Nick Fluellen are here to give you the inside scoop on the latest trends, market shifts, and all things commercial real estate.

Key Points:
Upcoming Events:
Old Capital's bus tour at the end of March.
Virtual Speaker series with Jeff Adler of YardiMatrix in April.
Conference in Dallas on October 8th and 9th. Save the Date!
Old Capital Connection: New App for your phone!
A community for accredited investors focused on multifamily investments. Provides exclusive updates, market insights, and new deal alerts.
Market Sentiment:
Positive sentiment at the National Multifamily Housing Council (NMHC) conference.
Increased inventory and more deals hitting the market.
Volatility in the treasury rates affecting the market.
Broker Opinion of Value (BOV):
High activity in BOVs indicating sellers' interest in knowing current asset values.
71 BOVs done in the last 30 days, suggesting increased market activity.
Market Segments:
Nick Fluellen's team at Marcus Millichap covers larger deals in DFW, 75 units and under, and secondary markets. Chris Pearson focuses on the 75 units and under segment, which he is seeing significant positive momentum. “These days, it’s a lot easier to equity raise $3 million than $10 million.”
Current Market Trends:
Increased activity in smaller deals (75 units and under).
First-time buyers and out-of-state buyers are more active.
Deals are still being made with hard money, though the amounts may be smaller.
Advice for New Investors:
Tour as many properties as possible to get comfortable with the market.
Submit offers even if they are below the asking price to stay active and top of mind with brokers.
Understand the importance of having financing and equity lined up.
Challenges and Opportunities:
Volatility in interest rates and its impact on deal financing.
The importance of rate locking to mitigate risk.

To contact Chris Pearson: chris.pearson@marcusmillichap.com
To contact Nick Fluellen: nick.fluellen@marcusmillichap.com

Are you ready to unlock the potential of Multifamily Syndications? Discover how Michael Becker’s proven real estate syndication business can open doors to financial growth and long-term success. Visit SPIADVISORY.COM today and start your journey toward smarter investing!