Today’s guest Michael Ponte is an old friend of mine, us old guys who’ve been buying properties and REIN members over ten years ago. We’ve known each other and run in the same circles what feels like forever and forever is the perfect time horizon to own real estate.
Michael owns, with partners Apartment buildings across the country: BC, Alberta, New Brunswick, Nova Scotia, probably Saskatchewan too.
Michael is a Savvy Investor and that’s his social media handle and name of his private Facebook Group with over 5,200 members. Michael being old school, he’s investing successfully in the multifamily apartment building space, has no trouble raising capital and educates others how to do so as well while living in BC but most of his portfolio is out of province.
On today’s show Michael shares how he’s navigating today’s interest rates, how multifamily is fast money, i’m kidding, it’s not. He walks out through the numbers of a couple of apartment buildings including how he found the deal. The different phases and costs during the due diligence process, seller financing, screening joint venture partners, what the biggest mistake an investor can make when buying apartment buildings and if you wait till the very end, how a new investor can get started.
If you’re interested in investing in apartment buildings, this is a must listen to episode and I’m sure there’s many of you since the ticket sales to Seth’s Multifamily Conference are massive. I’ll be there at my booth if you want to come by and say hi. www.multifamilyconference.ca and my discount code for you my 17 listeners is iWIN for 10% off. See you there!
Private Facebook Group: https://www.facebook.com/groups/341243106757064/