#365 FBF: Learn Multi-Family investing from the guy who literally wrote the book on it - with Steve Berges
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 3 December 2021
⏱️ 55 minutes
🧾️ Download transcript
Summary
This week we're going to speak with Multi-Family industry expert, Steve Berges. If you've read any books on the topic of Multi-Family investing then you're probably familiar with Steve and his teachings.
Steve has been in this industry for quite some time and has completed more than $250 million in transactions from subdivision developments, to residential construction, single-family rentals, and of course, his favorite - multifamily apartment buildings!
Here are a few things you’ll learn in our interview with Steve today:
- How he got his start in the business prior to becoming an owner/operator
- The management advantages of owning multi-family properties versus single-family homes
- Why he feels that self-managing his first few multi-family properties was such a valuable learning experience.
- How he's converting unused garage space into rentable units on an apartment property he's currently acquiring.
- Why he doesn't prefer to do 1031 exchanges upon the exit of a property
- What excites him about the Houston market
- Why he prefers not to put his own money into the syndications he structures
- Why building quality relationships with brokers is a long term game plan that you need to continually invest your time into building upon
- Why he suggests that all new multi-family investors join a local investment club or apartment association
- Why Steve suggests that new investors should seek out a more experienced investor to team up or partner with who specializes in the particular asset type they wish to own
- The various reports and industry resources that he uses in his own business and how you can get most of them for free.
- And much more
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Recommended Resources:
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- Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them MobileHomeParkAcademy.com
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Transcript
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| 0:00.0 | Welcome to this week's edition of Flashback Friday. It's your opportunity to get some good review by listening to episodes from the past that Kevin is handpicked to help you along your investment journey. If you'd like to partner with Kevin and join his team at Sunrise Capital Investors, head to invest with sunrise.com to learn more. That's invest with |
| 0:22.9 | sunrise.com. Enjoy the show. Hey guys, Kevin Buff here with episode number 77 of the Real |
| 0:32.5 | Estate Investing for Cashflow podcast. Our mission is to help you build and maintain massive amounts of cash flow through income producing |
| 0:39.5 | real estate investments. |
| 0:41.3 | This week we're going to be speaking with multifamily industry expert Steve Burgess. |
| 0:46.7 | And if you've read any books on the topic of multifamily investing, then you're probably |
| 0:51.1 | familiar with Steve and his teachings. |
| 0:53.3 | Steve has been in the industry for quite some time, and he's logged more than $250 million in transactions, |
| 0:59.9 | all the way from subdivision developments to residential construction, to single-family rentals, |
| 1:05.1 | and, of course, his favorite, which are multifamily apartment buildings. |
| 1:09.4 | And first and foremost, I want to apologize |
| 1:11.7 | about sound quality of this podcast because I don't know exactly what happened when I was talking |
| 1:17.1 | with Steve, but the other end, meaning his end, is very muffled. And it's a little bit challenging |
| 1:23.8 | to hear. So I apologize for that. And, you know, I got the sound engineer involved. |
| 1:28.6 | Unfortunately, they couldn't make it sound any better. And we're actually revamping some of our |
| 1:32.4 | studio set up so that we can eliminate some of these sound challenges in the future. And I know that, |
| 1:36.9 | you know, some of our past shows, we've got some difference in volumes and things like that. So I just |
| 1:40.5 | want to thank you guys for being patient and, you know, in dealing with some of those |
| 1:44.9 | sound and audio challenges that we've experienced. I'm not a professional recording artist or anything |
| 1:49.8 | like that. I don't have millions of dollars worth of equipment. So this is all a new learning |
| 1:54.6 | experience for me and I just, you know, I appreciate your patience and we'll get this show |
| 1:59.0 | sounding a lot better here in the very new future. |
... |
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