The pandemic has been a turbulent time for many, with many parts of the global economy feeling the effects. But even in such uncertain times, there is still an opportunity — you just have to know where to look for it. Returning guest, Mike Zlotnik believes that as terrible as COVID-19 is, it has presented us with opportunities we need to take. We open today’s show by exploring a topic that is trending in real estate — redevelopment. But first, we take a brief look at Mike’s professional history in information technology, funding, and real estate. Mike then explains the kinds of real estate opportunities that COVID-19 has presented, focusing on the affordable housing market and hotel conversions.
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With the absence of tourism and business travel, the hospitality industry has suffered, leaving many hotels struggling to find business, with many closing as a result. Mike tells us about how hotels present unmissable opportunities for multifamily redevelopment. Stay tuned, and you’ll hear the step-by-step process behind acquiring such properties, how to take advantage of location, and the types of operators you should be teaming up with. You’ll also find out about the dual-class structure and the red flags for passive investors. Toward the end of the show, we hear about Mike’s predictions for the future of real estate in the short term, as well as what falls within his “golden zone” for success. Be sure to tune in with us today!
Key Points From This Episode:
- Introducing today’s returning guest, Mike Zlotnik.
- A quick highlights reel on what was covered on our last episode with Mike.
- Hear about Mike’s history in real estate.
- Mike introduces today’s topic: opportunity born from COVID-19.
- Find out how COVID-19 has created opportunities in the affordable housing space.
- How you should approach hotels for a deal.
- Location is an important aspect to consider when acquiring a hotel.
- How you can use location to your advantage.
- The most favorable locations for hotel-to-affordable-housing conversions.
- Why it is important to invest with competent operators.
- Best tips on saving money when redeveloping property.
- Mike tells us about his current projects.
- Hear about the impact of renovation time and leasing time on your deal.
- Why a two-fund structure is so important for Mike when he takes on redevelopments.
- Red flags that passive investors need to be aware of.
- Discover what proper and improper waterfalls look like.
- Mike shares his predictions for the real estate market.
- The number one thing that has contributed to Mike’s success.
[bctt tweet=”COVID-19 is a terrible thing but it has created opportunities. What’s most bizarre is that it has created winners and losers. Some companies have benefited tremendously. — Mike Zlotnik” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Mike Zlotnik
Mike Zlotnik has been a debt and equity investor in real estate since 2000. He started his career and had spent nearly 15 years in the information technology field managing Risk, Business Intelligence and Quality of complex systems, software and processes. While building a successful career in IT, Mike’s passion has always been real estate investing because of its predictability of outcome and well-understood risks. In 2009, Mike joined Tempo Funding, LLC (Mortgage Pool Fund) as a managing partner, and Vice President of funding operations. Starting from January 2014, Mike has assumed the responsibility of a CEO and has since founded TF Management Group, LLC, launching 3 new real estate investment funds, TF Investment Fund II LLC (Income Fund), Tempo Opportunity Fund LLC (Growth & Income Fund) and Tempo Growth Fund LLC (Growth Fund). Under Mike’s Leadership, the company has seen transformation & growth, delivering strong returns for fund investors. Mike holds a Bachelor’s degree in Mathematics from Binghamton University. Mike is a member of multiple real estate and investor mastermind groups such as Collective Genius, Freedom Founders, Venture Alliance, CA Investors (Private).
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