Multifamily Investor Situation Room

Mike Migliaccio is Co-founder and Chief Managing Director with Dual City Investments, a real estate investment company that has holdings in multifamily, self-storage, hotels, and medical office.  He co-authored a book called, “Missed Ops” where he talks about the importance of learning from the experiences of others so that you do not duplicate the same mistakes.  I remember hearing many years ago that “discipline weighs ounces, while regret weighs tons” and over time I began to really think about the reasoning behind those that succeed versus those that don’t.  While we may not being to boil it down into a single factor, I think everyone would agree that discipline is one of those critical variables.

Having spent more than 20 years in federal law enforcement, Mike understands the importance of discipline.  He learned early on that simply writing down a goal is not enough; you have to have the discipline to see it through, and one small step you can take to developing discipline is showing up on time.

Whenever I see Ellis Hammond on social media, the first words that enter my mind are “faith-based investor.”  I find there is no separation between Ellis’ faith and him as an entrepreneur.  For many years I thought good Christians could not be entrepreneurs as the bible states “money is the root of all evil” so I sat down with Ellis and had a “no-holds-barred” unedited discussion about being a Christian entrepreneur.  We didn’t talk about real estate in this episode, rather we focused on pressing questions some faith-driven people out there may be facing.  I sincerely hope this episode can help open your heart and help you develop a better understanding of why we can still remain steadfast and true to our Christian beliefs while building wealth.

Heshel Mangel is a business analyst and real estate investor keen on problem-solving. When he came across his first multifamily deal, a 20-unit in Cincinnati, Ohio, he knew the best way to bring the deal to fruition was to establish a strong relationship with city council and members of the community. Heshel walks us through his first multifamily deal, the thought process and reasoning for going after affordable housing, and how building relationships with the city can help fund your deals.

Juan Vargas is the managing principal at GenWealth Capital Group, a multifamily real estate investment company based in Houston. He started out with single-family investments and after achieving success and desiring to scale up, he transitioned into multifamily syndications. His first deal didn’t come about through some of the typical channels we use in the multifamily space. Moreover, he used a direct mail tactic he learned when he invested in single-family properties. In this episode, Juan shares with us how he sourced his first deal, we talk about a challenge he is currently facing in his business, and finally we touch on pricing strategy for leasing-up new developments.

Who would want to have worked for many years, accumulated an income producing real estate portfolio, and finally retired, when shortly after, a litigator comes in and takes away all of your assets leaving you with nothing in your nest egg? Randy Hughes, also known as “Mr. Land Trust,” has been a real estate investor since 1969 and uses land trusts as a privacy and asset protection strategy. He also teaches others how to set up their own land trusts. In this episode, Randy shares with us the benefits of using a land trust, along with sharing some incredible personal stories of how land trusts protected him and his assets from frivolous lawsuits.

After transitioning from the corporate world to real estate, Whitney Ward found herself heading multifamily real estate sales in the office of a nationally known brokerage firm. In pursuit of more challenges and unlimited growth, Whitney decided to open her own commercial brokerage firm that focuses mainly on multifamily property management and sales, where she offers investors a full-service alternative, including deal-sourcing, due diligence, business plan implementation, asset management, and divestment. In this episode, Whitney shares with us how she developed a business that is adaptable, flexible, and can operate virtually.

If you were to look up “hustle” in the dictionary, Chris Rood’s picture would appear next to it. He’s the author of “The Source of the Deal,” an entrepreneur, a real estate “wholetailer,” investor in multifamily, mobile home parks, and a real estate coach. Chris made an appearance on Grant Cardone’s show a couple of years ago. In this episode, Chris shares with us how he is making it big in real estate and why mobile home parks are hidden gems.

Sterling Chapman spent considerable time in financial services, and the telecom industry where achieved extraordinary success climbing the corporate ladder. After reading, “Rich Dad, Poor Dad,” he realized he would need to have a backup plan should anything happen to his full-time career. He began buying single-family residences and duplexes two years ago, and is now transitioning into multifamily real estate syndications. Find out his reason for transitioning into syndications and what he believes to be the biggest obstacle holding people back from achieving their dreams.

Samer Khatib has worked in the oil and gas industry in seven different countries over the past 15 years. After gaining extensive experience abroad, he realized he needed to have a transition and repatriation plan so that he could return to Florida and spend more time with his family. Last year, he closed on his first multifamily property and has already supplemented his entire income on his first deal. In this episode, Samer walks us through his first deal and gives us some insight into how he is managing his property while living over 7,000 miles away.

Oftentimes when underwriting and assessing a deal, investors tend to consider the insurance implications last, hence we often find ourselves asking, “why is the insurance binder the last thing that comes through?” J.T. Lynch provides both perspectives, one where he is an insurance broker, and the other where he is the multifamily real estate investor. In this episode, J.T. shares with us his thoughts on the effects a global pandemic may have on property insurance premiums; how to speed up the process so you can receive an insurance binder sooner; and a few key elements of a property you should consider that can significantly weigh in on insurance costs.