We have a great episode this week with Michael Garcia, a San Diego-based investor who is buying multifamily throughout Phoenix and Tucson, AZ. In his previous career, Michael worked in trading and developed a strong feel for the financial side of the business.
We dive into Michael’s first deal, a 12 unit in Oregon, and discuss how he dealt with the curveballs that were thrown his way. We talked about how Michael met his partner, how they are sourcing deals in the competitive AZ market, and how they are going above and beyond to win deals in today’s market. If you are in multifamily or planning to get into multifamily, especially if you’re competing in a hotter market, this one’s for you!
For those who are looking to learn more about our business, head to www.alignedrep.com/invest to get on our email list. Thanks for listening, catch you all next week!
TIME STAMPS:
04:26 – researching the model of multifamily, listening to podcasts, reading, “confidence breeds confidence”
07:28 – We talk about Michael’s first deal, a 12 unit in Oregon
08:19 – We discuss how investors can move past the fear that prevents investors from doing early deals
09:26 – We learn all about what Michael learned on his first deal
12:50 – Michael and Axel talk about how competence breeds confidence and how important it is that investors understand their market and asset class
15:46 – We talk about how important speed is when making offers on deals
21:00 – We discuss scaling your business and taking down larger deals
27:51 – We dive into capital raising and how Michael put together his first few deals in Phoenix
36:00 – We learn more about Michael and his team is finding deals in the competitive AZ market
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
CONNECT WITH MICHAEL
https://edgecapitalmf.com/ [email protected]
