mike loree

@robbiehendricks Two best decisions of my life….Married the woman I loved and we had kids. Kids are the best

Greatest ROI in this situation: Have kids. Easily the best use of your limited time, energy, and resources. Nothing will give you a greater return. Not even close. Don’t wait.

@adamtaggart You need to deadlift with a Hexbar.

Persistence in pursuit of a goal pays off Been stuck on my deadlift for over 2 months, but kept putting in the work and today…335lbs 👍🏻 What will *you* do today to invest in your well-being??

@TheRealEstateG6 @quahoggy What was the in-place Cap?

@quahoggy Collection of HNW. Yes typical value-add plan - taking rents from ~$950 to ~$1,200

Just closed on a 100-unit deal. Coming in at a 7% cap rate, should be stabilizing at a 9% yield Major sunbelt market, 1960s-1970s build $25MM in acquisitions in Q4, not a bad way to close out the year

@TheRealEstateG6 Appreciate it, your podcast with Omar Morales changed my way of thinking about a year ago. Was once a buy and hold investor only. Changed everything.

@mloree72 Mostly a waste of time. Would get a ton of lender quotes for every deal

Have some free time AMA for the next hour

@TheRealEstateG6 Trying to figure out if building out that Lender relationship is advantageous or not.

Combo of starting small and scaling up so I had proof of work (first deal all equity, second deal seller financing, etc), partnering with more experienced people, and presentation (brought institutional presentation-skills to sub-institutional deals) No have never actually gotten better financing because of a relationship (even though lenders will all lie and say they will)

@loganjrankin What’s your timeline to realize upside? If you acquired 300 unit building 100% untouched with below market rent, 95% occupancy. Obviously rehab vacant. What does your typical reposition plan look like in terms of percentage rehabbed units and length of time? Or is it NOI goal?

Closed 1,423 units this year. Solid deals, but what excites me is what they could become. Execute the repositioning plan, stay patient on rates—and these go from good to great. Here’s what’s consistently worked for me to grow my portfolio over 5k units: •Lock in leverage. Fixed rates and long timelines give you options. I’ve never touched bridge or floating debt but I love creative financing. •Buy value-add deals. Then work fast to realize the upside. Speed matters. •Think long-term. Build every business plan like you’ll own it forever. •Systemize early. Elite operating systems executed daily, weekly, monthly, yearly—consistency wins. •Stick to your principles. Buy deals that fit your criteria. Ignore the noise. I’ve bought every year for over a decade, always opportunities. Simple principles, executed relentlessly. That’s it.

@shawngorham Sunnyslope is rough…North of the Canal. The closer you get to the base of the mountain the rougher it gets. Nice sounding price point but this is not a deal for a Value Add property

$136k a unit in PHX - wow I was told about this off-market. I pushed for a tour and followed up multiple times Then a "local group" went under contract (yes I own MF in PHX, guess I am not local) Who bought it? I think you got a great deal (without seeing it) If you have MF in PHX my DMs are open

@Cribdilla Are you paying attention Mr. Professor?

We are watching history. I hope you’re paying attention.

@MultifamilyMad YOC…Know your Market

Roof shingles are much more water resistant than tile or a tub surround.

@loganjrankin Looks clean! What is your typical rehab budget? And Return on cost?

Striving for excellence in our core value of World Class Standards, we work to create a home that residents can take pride in. Our dedicated rehab team works tirelessly, transforming outdated units into modern, high-quality spaces. Leave your thoughts below ⬇️

@TheRealEstateG6 Do you 1031 on your Exit? Or pay the Capital gains?

Feel like a lot of people simply don’t do the math $500k salary, $325k after taxes, $10k-$20k monthly expenses if you have a family (could be higher), you only save ~$100k/year High salary gets you nowhere, you’re quite literally forced to start buying and operating assets

@Flipping_SFR Island Cabinets ✅

FINALLY!!! Started unveiling floors today! Now we can see how the wood makes the green cabinets pop And how the white accents the walnut slats

@dig_deeper1 How do you advertise for Section 8 tenants? I talked to Phoenix Housing Department and was told pretty much to “List for rent” and see if a Section 8 tenant contacts you?

I just signed up one of my rental units for section 8 Phoenix to get those premium rents. As soon as I review the applicants, interview the top prospective tenants and select one I’ll be receiving the following 👇 Rent Security deposit 2000 section 8 sign up bonus. I’ll also be reviewing non section 8 prospective tenants to have a broader pool of good prospective tenants.

@dig_deeper1 28th St and Broadway

@mloree72 Where is your triplex ?

Officially new tenant in place. $1450 for 1 bed 1 bath South Phoenix. 🔥🔥🔥🔥

@dig_deeper1 What’s your favorite RE Meetups in Phoenix Metro?

This guy in instagram that I met in a real estate meet up sent me a DM asking if I was working on any project, I said I was. Then he said that his diversifying more into crypto, metaverse and blockchain aside from real estate. I still don’t buy into the idea of crypto, metaverse and blockchain. Not falling for that. I don’t know how to feel about guys who are in real estate and now want to pursue crypto, metaverse and blockchain 👎 Not interested on any of that.

@Flipping_SFR I’m not opposed to either. Trying to let the property and market determine what to do. Trying to find that consistent deal flow to analyze

@mloree72 Got it! That’s exciting! Should have a fair amount of deals to analyze within that price range. Lipsticks or major rehabs?

🚨Important acquisition note: It’s not only the AMOUNT of existing sft you buy that matters But also the QUALITY of existing sft ⬇️Example from our recent flip ⬇️ Passageways with thick walls (see pics) are a telltale sign of an addition/enclosed patio. 1/3

@Flipping_SFR What areas and price range have you found to work well in this economic environment?

@mloree72 Good catch! Maybe they just put another layer of shingles on top? See that fairly often. Then roof looks new unless you look close. What areas and price range are you looking?