Episode from the podcastReal Estate Investing for Cash Flow with Kevin Bupp

#287: The Negative Consequences of Rent Control & How to Capitalize on them by Utilizing a Little Known Tenant-In-Common Conversion Technique – with Michael Gallin

Released Thursday, 27th August 2020
Good episode? Give it some love!
Michael began his real estate career in (TIC) Tenant-in-Common and Condominium development in 1996 and has since developed over 20 apartment buildings and 40 (TIC) projects. His niche specialty is converting rent controlled buildings into market rate condominium units.
Growing up in Ventura, California; with a Grandfather who was a real estate developer along the Southern California coast, Michael attended the University of California, Berkeley, earning a B.A. in Psychology and then worked in medical research at UCSF. 
When not wearing a hard hat or closing business, you will find Michael focusing on fitness, at cultural events, visiting wine country and traveling globally. 
What You’ll Learn:
  • How Michael was first introduced to the legal loophole where one can convert a rent controlled unit into a market rate condo.
  • The typical profit margin that Michael is seeking when identifying potential rent control conversion projects.
  • Why rent control doesn’t work and never will.
  • Michael’s perspective on alternate solutions to the typical rent control model, including beefing up the section 8 voucher program.
  • How to utilize and profit from this same exact strategy in various other rent controlled markets throughout the US.
  • The qualifying factors that go into determining if a specific rent controlled property is a good candidate for a conversion.
  • The various political and tenant road blocks experienced when attempting to convert a rent controlled building along with the various strategies to get successfully get passed them.
  • The cash for keys program that can sometimes cost upwards of $50,000 to buy a tenant out of their lease.
  • And much, much more…


Recommended Resources:
Grab a FREE copy of our latest ebook “Parking Lot Profits” Click Here Bring Kevin a Deal and Earn up to $200k Finders Fee Click Here Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com Self Directed IRA Investment Opportunity – Click Here To Learn More About How You Can Invest With Us Through Your SDIRA Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them Click Here Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2

Episode Reviews

This episode hasn't been reviewed yet. You can add a review to show others what you thought.

This podcast, its content, and its artwork are not owned by, affiliated with, or endorsed by Podchaser.
Rate Episode

Share This Episode

Recommendation sent

Join Podchaser to...

  • Rate podcasts and episodes
  • Follow podcasts and creators
  • Create podcast and episode lists
  • & much more

Episode Details

Length
39m 50s
Explicit
No
Episode Type
Full

Episode Tags

Do you host or manage this podcast?
Claim and edit this page to your liking.