Sep 8, 2017
Mit Scott and Greg Ford are business partners in the ownership
of a large apartment building in Irving, Texas. They originally
started with purchasing single family homes, then became passive
investors in other people’s transactions and now own a large
apartment building- while still maintaining their full time
jobs.
Ricardo asked Mit: What appealed to you most about multifamily in
comparison to single family? Mit thought that you could create
‘greater value’ in a multifamily acquisition than in a single
family purchase. Your house is going to be worth relatively the
same as your neighbor’s home regardless of the finish out or
appliances. Your home value will be based on other closed sales of
similar homes in the submarket. In the multifamily arena, the value
of that business is based on how much income you can generate. The
higher the Net Operating Income (NOI) the greater the value you
will create on your apartment investment. Mit gives an example on
how they created additional value by giving tenants the opportunity
to rent parking spaces close to their units. The impact from this
marginal parking income has an unbelievable impact on over-all
value. Single family ownership is not scalable and apartment
ownership is. Greg gives us a real example on how a reverse-1031
exchange works.
To contact: Mit Scott or Greg Ford mitandgreg@gmail.com
To contact: Ricardo Hinojosa rhinojosa@oldcapitallending.com
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FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about
upcoming events at Old Capital Speaker Series please visit us at
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Are you interested in learning more about how Multifamily
Syndications work? Please visit www.spiadvisory.com to learn about
Michael's Real Estate Syndication business with SPI Advisory
LLC.