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BiggerPockets Real Estate Podcast

175: The Power of a Team to Build a Multifamily Real Estate Empire with Mike O’Connor and Matt Wood

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 19 May 2016

⏱️ 70 minutes

🧾️ Download transcript

Summary

Building a real estate portfolio can be challenging — but taking others along for the ride can help everyone achieve incredible results. That’s the topic on today’s episode of the BiggerPockets Podcast,where we sit down with Mike O’Connor and Matt Wood, two young investors from the Atlanta area who have built a sizable portfolio (150+ units) in a very short time thanks to the power of a team. You’ll learn why they jumped straight from a single house to an apartment complex and the mindset and strategies needed to pull it off successfully. This highly entertaining show will have you taking notes — and laughing — ’til the very end! In This Episode We Cover: The backstory of Mike and Matt’s investing career The cool story on how they started working together The value of analyzing deals “Aunt Jemima” as their first property What Section 8 is and some of its benefits Tips for bringing more people on the team Why their first deal was important How they find the right people for their team How they scored a 32-unit as their second deal How they went from 32 to 100 units through creative financing Tips for having a job while investing WhatsApp and why they use it How they differentiate roles in their company The importance of systemizing and automating to scale their business The Unique Wide Oak Deal Why you should build relationships with your local banks Why confidence matters in this business And SO much more! Links from the Show BiggerPockets Forums Google Play Tim Ferris’ Podcast BiggerPockets Contribute Evernote WhatsApp Dropbox The 5 C’s of a Perfect Loan Proposal BiggerPockets Analysis Tools BP Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone BiggerPockets Forums 8 Tips For Screening Out Professional Tenants: Your Worst Nightmare! (blog) The Professional Tenant – Just How Painful Can Evicting One Tenant Be? (blog) BiggerPockets Local Connect Books Mentioned in this Show The Book on Investing with No or Low Money Down by Brandon Turner The 4-Hour Workweek by Timothy Ferriss Tweetable Topics: “We want to be good landlords, we truly enjoy providing good living conditions to our tenants.” (Tweet This!) “To know that there is something that we can control that is providing us income is huge.” (Tweet This!) “I’d rather have a small percent of a deal than zero percent of the deal.” (Tweet This!) “You have to be ready to pivot based on the deal because not every deal fits in the same box.” (Tweet This!) Connect with Mike and Matt Mike’s BiggerPockets Profile Matt’s BiggerPockets Profile Azeez’ BiggerPocketes Profile Kiran’s BiggerPockets Profile Cambridge Investment Group Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This is the Bigger Pockets Podcast Show 175.

0:05.0

That's the unique thing about real estate there, right?

0:07.0

You have to be ready to pivot based on the deal because not every deal fits in the same box.

0:11.0

You're listening to Big pockets radio simplifying real estate

0:15.2

for investors large and small. If you're here looking to learn about real estate

0:19.6

investing without all the height you're in the right place.

0:23.0

Stay tuned and be sure to join the millions of others

0:26.0

who have benefited from bigger pockets.com.

0:29.0

Your home for real estate investing online.

0:32.0

What's going on everybody?

0:33.2

This is Josh Dorkin, host

0:35.3

to the BiggerPockets podcast

0:36.7

here with my co-host, Brandon Turner.

0:39.6

Hey, what's going?

0:40.6

Hi.

0:41.3

What's up?

0:42.1

How are you?

0:43.0

You know, I'm doing pretty well.

0:45.0

I've been, like I said, playing racquetball lately.

0:47.0

I think I said that last week.

0:48.0

And today, this morning I got hit with like the hardest he could possibly hit the racket ball right in the back of my

0:55.3

upper leg we'll say. Oh you got a well time yeah I got a nice wealth there something you know

...

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