43 min listen
Episode 217 - First Time Apartment Buyers Give Advice on Acquiring a 48 unit building in Syracuse, NY.
FromOld Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles
Episode 217 - First Time Apartment Buyers Give Advice on Acquiring a 48 unit building in Syracuse, NY.
FromOld Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles
ratings:
Length:
40 minutes
Released:
May 27, 2020
Format:
Podcast episode
Description
Julie Peterson with Old Capital speaks with first time apartment sponsors Gary VanBortel and John Bilinski on their recent purchase of a 48-unit building right before the coronavirus hit. These former single-family investors met at a national multifamily conference and decided to become partners in acquiring apartments. This journey took a few twists over a few months. The seller was in legal trouble, title company would not insure title, initial lender backed out, original property manager was too small for the acceptance of Freddie Mac, asbestos in the floor tiles, and, and, …and. Yikes!! Listen to how they overcame these obstacles and succeeded in closing. Oh, by the way…Then coronavirus hits the month after closing. Great story. To contact Gary VanBortel or John Bilinski: RocCapitalGroup.com To contact Julie Peterson: JPeterson@oldcapitallending.com Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Released:
May 27, 2020
Format:
Podcast episode
Titles in the series (100)
Episode 59 - Fight of the Century: ‘Fightin’ Freddie Mac versus Fannie ‘The Legend’ Mae. These two lenders are fighting for your business. We compare and contrast the two non-recourse, apartment lenders- Fannie and Freddie. Underwriters Fritz and John explain what borrowers... by Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles