Real estate faces many challenges all the time. Natural calamities, recession, and even global health crisis affect the industry. Thus, it is important to be prepared for any downturns. Today, we speak to Michael Becker and he shares with us his experience in Texas and how he overcame different challenges.
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In part one of our conversation with Michael, he details how they faced frozen pipes in 300 out of their 6,000 units in Texas. He then shares with us the changes they implemented so that they will not have to deal with the same problem moving forward. Michael also talks about how the pandemic affected the business and what they did so the business will continue. Real estate investors need to know that challenges are part of the business so tune in and learn from one of the industry’s powerhouses on how to deal with them.
Key Points From This Episode:
- Michael talks about SPI Advisory LLC which specializes in repositioning multi-family assets.
- Michael gives an update on the Texas property market.
- How to manage frozen pipes?
- Michael shares changes he implemented in response to frozen pipes so they can avoid dealing with it moving forward.
- Michael elaborates how they faced the pandemic head-on..
“Being bigger is better in this business in most respects and your relationships with a lot of the vendors certainly help.” [0:07:37]
“I feel pretty fortunate that multifamily has been proven to be pretty resilient.” [0:11:26]
Links Mentioned in Today’s Episode:
About Michael Becker
Michael Becker is a Principal at SPI Advisory LLC and heads SPI’s Dallas, Texas office. SPI Advisory specializes in repositioning multi-family assets. Through professional asset management and a high level of integrity, SPI Advisory increases the value of properties while improving the quality of life for its residents. SPI Advisory derives stakeholder value through hands-on asset management and construction oversight. Our exclusive multi-family focus enables better pricing of value and risk to identify projects with superior risk-adjusted returns.
Before forming SPI Advisory, Michael was a 15-year veteran Commercial Real Estate Banker and has originated and managed numerous portfolios of permanent and bridge loans in all major asset classes. Over the last 5 years of his banking tenure, Michael focused exclusively on multi-family properties, where he was the number one loan producer for his division at a Top 3 National lender for his last 3 consecutive years.
Michael is a lifelong resident of North Texas and a graduate of The University of North Texas with a BBA in Finance. Under Michael’s leadership, over the past 5 years, SPI Advisory has acquired approximately 6,000 units in the DFW & Austin markets.
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