Adding Massive Value in Rent-Controlled Markets with Michael You

Adding Massive Value in Rent-Controlled Markets with Michael You

Michael You specialized in molecular and cell biology on his way to becoming a doctor when he discovered that his true calling was real estate. He now works for a commercial real estate developer in the East Bay. Currently, he’s focused on creating new housing in one of the most unaffordable markets in the world using California’s ADU laws.

In today’s episode, Mark and Michael sit down to discuss development, ADU’s, and creative strategies to be successful in rent-controlled markets.

 What You’ll Learn In Today’s Episode:

  • Add value! Multifamily Real Estate, one of the most solid long-term investments, also gives you the opportunity to actively, personally, add value to your investments. So take it. Look for ways to improve the property, and improve operations. Add revenue streams by installing laundry rooms, providing amenities, reducing and consolidating expenses, and adding ADU’s.
  • Don’t think you need to quit your job in order to invest in real estate. Michael has a full-time job, so does Mark. Organize, and you can do both. Most gurus pitch the ‘quit your job’ route because that’s the dream and that gets you on the hook, but the truth is it’s a lot easier to get into real estate using W2 income.
  • Believe in yourself. Don’t believe it will be easy, but believe you can successfully overcome all obstacles and come out stronger and better on the other side. There’s power in believing that you can do difficult things. Do this, and real estate will be a cakewalk.

Key Phrase:

“The cycle of a typical development can take, on minimum, up to 5 years. With these ADU’s, cities are supposed to process these applications within 60 days.” – Michael You

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Strategy

Investment Principals

Investment Principals

Investment Principals 1. Risk Mitigation   We invest conservatively during all phases of the real estate cycle,...

Portfolio

Catalina – SOLD

Catalina – SOLD

Koreatown SubmarketJust west of downtown and one of the city's most desirable, and densest areas. Catalina's average...

How To Build A Billion Dollar Portfolio with Brent Sprenkle

How To Build A Billion Dollar Portfolio with Brent Sprenkle

Brent Sprenkle is a Los Angeles Multifamily investor and Top Broker with Berkadia, whose got over 20 years of experience. He’s the author of a new book Billion Dollar Portfolio about his adventures in the Los Angeles multifamily market over the last two decades.

Mark and Brent discuss patience, property management, and the importance of having a business plan.

 

What You’ll Learn In Today’s Episode:

  • Be patient and consistent, and know that it’s going to take time. That was a defining trait amongst those who’ve built billion-dollar portfolios. You don’t need to be born into money or privilege, you don’t need to be exceptionally brilliant. You just need to get in, be patient, and stick with it. When you have failures, keep going! The ones who prevail fall in love with the process, not the outcome.
  • Keep your eye on management. Whether you’re doing it yourself or using a third-party, you’re often entrusting a major investment to a chain of vendors, contractors, and managers who may not know you, and whom no one is watching. The truth is, whether you know it or not, you will be the victim of padded expenses, work that was paid for and never done, etc… The best protection is to let your management team know you’re watching, and vet your managers carefully.
  • Always have a value-add strategy. Force the appreciation. Why? Because in real estate, you can! Also, it accelerates your growth. Go in with a business plan, whether it’s reducing expenses, buying out tenants, turning units, adding laundry, or building new units. Treat it like a business and get creative.

Key Phrase:

“The dream of real estate is when you can buy a property, refinance it and pull all your money out, and still have great cash flow. Then, do that over, and over, and over again.” – Brent Sprenkle

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Strategy

Investment Principals

Investment Principals

Investment Principals 1. Risk Mitigation   We invest conservatively during all phases of the real estate cycle,...

Portfolio

Catalina – SOLD

Catalina – SOLD

Koreatown SubmarketJust west of downtown and one of the city's most desirable, and densest areas. Catalina's average...

Networking for Introverts and Falling In Love With The Process with Nick Ameluxen

Networking for Introverts and Falling In Love With The Process with Nick Ameluxen

Nick Ameluxen spent a decade in the automotive industry as a technician before transitioning to real estate. He invests in single-family, turnkey, and multifamily in multiple markets. He’s a real estate coach, host of the Austin chapter of the South Texas Multifamily & More Meetup, and is a partner and asset manager at Quantum Capital.

Mark and Nick sit down to discuss networking, processes, and getting outside of your comfort zone.

 

What You’ll Learn In Today’s Episode:

  • Nick began his real estate journey with education. He was an introvert, so reading books was in his comfort zone, but in hindsight, it was only when he stepped out of his comfort zone, and started networking, that opportunities started to present themselves. He joined a coaching program, met like-minded investors in the same situation he was in. They held each other accountable, fed off each other’s enthusiasm, and eventually did a small deal together in Atlanta that helped get Nick into the multifamily game.
  • Nick created a system to get results, reaching out to multiple investors daily to ask how he could provide value for them, not value for him. One of those investors happened to be Mark. They talked a few times, and Mark was impressed with how Nick found and analyzed deals. Over the next few months, they both partnered on about 200 units.
  • Focus on the process. We tend to focus on the results, but you don’t achieve results by focusing on results, you achieve results by focusing on the process. It may seem counter-intuitive, but it’s true because results are not always within your control, but the process is. Nick is all about working the process, day-in and day-out. Call brokers, underwrite deals, make offers. That’s the process. Fall in love with the process, live the process, if you can do that the results will absolutely take care of themselves.

Key Phrase:

“I didn’t have a strong network at all, so I thought it had to be all ‘me, me, me.’ But when I joined this community, I found people who started from similar beginnings, and were succeeding. I thought, ‘if they can do it, why can’t I?’” – Nick Ameluxen

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Strategy

Investment Principals

Investment Principals

Investment Principals 1. Risk Mitigation   We invest conservatively during all phases of the real estate cycle,...

Portfolio

Catalina – SOLD

Catalina – SOLD

Koreatown SubmarketJust west of downtown and one of the city's most desirable, and densest areas. Catalina's average...

Leveraging Partners For Success with Gwyeth Smith

Leveraging Partners For Success with Gwyeth Smith

Gwyeth Smith was a Wall Street equities trader before turning to multifamily. He’s the founder of New Wave Capital and Rustic Capital, investing in Ohio, Texas, Southern Indiana, and Pennsylvania.

Mark and Gwyeth sit down and discuss the importance of great partnerships and how to leverage people’s strengths effectively.

 

What You’ll Learn In Today’s Episode:

  • Gwyeth’s relationships have played a big role in his success. Multifamily is a team sport and finding good teammates is the key. Look for partners who complement your skillset and make up for your deficiencies.
  • Fundraising is an essential part of real estate investing. Developing this skill early will benefit you throughout your investing career.
  • You don’t need to have it all figured out before getting started in real estate. You can start by educating yourself, building a network, and taking action.

Key Phrase:

“I’d rather do a good deal with great people, than a great deal with not-so-good people.” – Gwyeth Smith

Resources In Today’s Episode:

Books Mentioned In Today’s Podcast

 

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The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Strategy

Investment Principals

Investment Principals

Investment Principals 1. Risk Mitigation   We invest conservatively during all phases of the real estate cycle,...

Portfolio

Catalina – SOLD

Catalina – SOLD

Koreatown SubmarketJust west of downtown and one of the city's most desirable, and densest areas. Catalina's average...

People, Systems, and Culture: Building a Multifamily Business with Jake Stenziano

People, Systems, and Culture: Building a Multifamily Business with Jake Stenziano

Jake Stenziano worked at Radio Shack, then the pharmaceutical industry before shifting to multifamily investing, where he’s now built an investing, property management, coaching, and education juggernaut. He’s also a two-time, best-selling author and one half of the top-ranked Jake and Gino Podcast.

In today’s episode, Jake and Mark sit down to discuss building an organization that is truly unique and delivering a top-notch customer experience. 

 

What You’ll Learn In Today’s Episode:

  • Jake grew up in a small rust-belt town where he hustled his way into a coveted pharmaceutical job, where he excelled not due to any innate sales ability but sheer hard work, or as he calls it “blue collar work ethic.”
  • Proximity is power. Jake was influenced by the successful people he met. Whether it was successful doctors, real estate investors, or local business owners, he actively sought those who questioned the traditional course in life. These relationships helped him cultivate a growth mindset.
  • His mantra is people, systems, and culture. Jake and his team at Rand are committed to creating an exceptional customer experience for the resident’s at their communities. Their team invests time, energy, and capital into quality of life upgrades onsite and off, which reduces turnover for residents and staff. It’s a commitment that starts at the top of their organization and is present all the way down.

Key Phrase:

“I’m looking around and everybody but this one guy is getting pushed into these medical groups…and he didn’t need to be a doctor. He owned real estate all over the East Coast.” – Jake Stenziano

Resources In Today’s Episode:

Books Mentioned In Today’s Podcast

 

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No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Strategy

Investment Principals

Investment Principals

Investment Principals 1. Risk Mitigation   We invest conservatively during all phases of the real estate cycle,...

Portfolio

Catalina – SOLD

Catalina – SOLD

Koreatown SubmarketJust west of downtown and one of the city's most desirable, and densest areas. Catalina's average...

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