The "4 x 4 x 48" Explained & How He 3x'd the value of his first Apartment Deal | Michael Garcia E261

The Rich Somers Report

Rich Somers

Business, Investing

5.0 • 1K Ratings

🗓️ 29 October 2024

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

How does the "4 x 4 x 48" challenge parallel the journey of tripling the value of a multifamily property in less than two years? Join Rich Somers and Michael Garcia as they uncover the power of commercial real estate through Michael's remarkable transformation—from selling his single-family house to investing in a 12-unit multifamily deal that achieved outstanding results in just 23 months. Explore the challenges he faced, the invaluable lessons learned in his first deal, and why resilience i...

Transcript

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0:00.0	you know the lesson here for me was making sure you kind of try to do your best to stay even keeled throughout the process.
0:08.0	You know you have your highs you have your lows and figuring out how to not be so high you know on the highs and not be so low on the lows and and understand that you just have you have to be resourceful and you're gonna get through it but you know you
0:26.1	don't always know the way right and you've got to take that first step even when you
0:30.0	don't know the way.
0:31.0	Welcome to the Rich Shummers Report where we talk real estate, business, and wealth building,
0:36.0	all while keeping it real.
0:37.2	No fluff, no BS.
0:38.8	I hope that you enjoy the show. All right guys. Welcome to another episode of the report today. I got someone special
0:50.0	I got someone who goes way back. I met at one of our meetups, our Beers and Deals meet up here in San Diego a while back when he was first getting an apartment game and I was just getting warmed up myself and a friend of mine, good good dude he's invested in the multi-family space
1:05.5	he owns 70 million dollars of multi-family real estate and in is the
1:10.0	founder of Edge Capital I got my man Michael
1:12.6	welcome to the show brother.
1:14.0	Thanks for having me Rich.
1:15.1	Yeah, second time.
1:16.6	You were on probably one of the first 15-20 episodes
1:20.3	when I started the podcast.
1:21.4	Yeah, yeah, I think it's been maybe a couple years.
1:23.1	And I had you on my old podcast,
1:25.5	the Multifamily Takeoff, like years ago.
1:27.3	Yeah, that's correct.
1:28.1	Yeah, that is.
1:28.6	So, dude, appreciate you coming on.
	...

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