In today’s episode, we are joined by a rising star in the Dallas Forth Worth property market, Mike Roeder. Mike lets us in on how he started out slowly investing in single-family units. Then he teamed up with his now-business partner, who at the time was purchasing 20-30-unit apartment complexes.
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This lead to the two purchasing a 20-unit apartment block, which produced great results and lay the foundation for where Mike is today. After a key Sumrok meeting in Dallas, and then a steady track record of property acquisitions, Mike and his partner managed the impressive feat of tapping into the overcrowded DFW market. Mike lets us in on some of the strategies he has employed over the years that have resulted in successes like this. Living all the way in Minnesota, Mike and his partner flew into Dallas every month for almost two years, just to network. This and other stories show that, for Mike, building relationships equals building opportunities. Mike then lets us in on some of the specifics of administrating his 86-unit in Cleburne from distant Minnesota. He maintains that having a partner he trusts to act as boots on the ground goes a long way. Also, being meticulous at the contract phase of any development is key to getting the desired results. Tune in to hear more about good syndication from Mike Roeder.
Key Points From This Episode:
- Mike’s transition from single to multi-family property investment.
- How Mike found syndication mentorship through Sumrok.
- How Mike and his partner broke out of their local market into DFW.
- The value of introducing selling brokers and being part of a reputable group.
- The value of a high-deal flow strategy.
- Mike and his partner’s commitment to networking.
- Moving from cold-calling CoStar listed numbers to focussing on listed properties.
- How to stand out in a hot real estate market.
- Operating the 86-unit in Cleburne from a distance.
- The value of the ‘boots on the ground’ strategy for your business.
- Preparing for downturn by keeping investors in the know.
- Software that has been invaluable to Mike.
- What drives Mike and how he gives back to the community.
[bctt tweet=”We recently partnered up with a non-profit in Minnesota. It is called The Sheridan Story… and so for us, to know that every deal that we do, and the more successful that we are – that is going to provide to hungry children. — @ Mike Roeder” username=”Whitney_Sewell”]
Links Mentioned in Today’s Episode:
About Mike Roeder
Mike Roeder and Dan Brisse founded Granite Towers Equity Group to assist accredited and sophisticated investors in acquiring multi-family assets that produce double-digit annualized returns. Mike and Dan began investing in Real Estate in 2009, in the Midwest market.
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