BiggerPockets Podcast 175: The Power of a Team to Build a Multifamily Real Estate Empire with Mike O’Connor and Matt Wood
Building a real estate portfolio can be challenging — but taking others along for the ride can help everyone achieve incredible results. That’s the topic on today’s episode of the BiggerPockets Podcast, where we sit down with Mike O’Connor and Matt Wood, two young investors from the Atlanta area who have built a sizable portfolio (150+ units) in a very short time thanks to the power of a team. You’ll learn why they jumped straight from a single house to an apartment complex and the mindset and strategies needed to pull it off successfully. This highly entertaining show will have you taking notes — and laughing — ’til the very end!
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We just wanted to give a shout out to our podcast sponsor on today’s show: PATLive. PATLive's team of superstar receptionists will always leave your customers delighted. Every agent goes through a rigorous training course before they can answer calls, and we've got quality assurance down to an art.
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A huge thanks as well to our Fire Round sponsor Wunder.
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In This Episode We Cover:
- The backstory of Mike and Matt’s investing career
- The cool story on how they started working together
- The value of analyzing deals
- “Aunt Jemima” as their first property
- What Section 8 is and some of its benefits
- Tips for bringing more people on the team
- Why their first deal was important
- How they find the right people for their team
- How they scored a 32-unit as their second deal
- How they went from 32 to 100 units through creative financing
- Tips for having a job while investing
- WhatsApp and why they use it
- How they differentiate roles in their company
- The importance of systemizing and automating to scale their business
- The Unique Wide Oak Deal
- Why you should build relationships with your local banks
- Why confidence matters in this business
- And SO much more!
Links from the Show
- BiggerPockets Forums
- Google Play
- Tim Ferris’ Podcast
- BiggerPockets Contribute
- The 5 C’s of a Perfect Loan Proposal
- BiggerPockets Analysis Tools
- BP Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone
- BiggerPockets Forums
- 8 Tips For Screening Out Professional Tenants: Your Worst Nightmare! (blog)
- The Professional Tenant – Just How Painful Can Evicting One Tenant Be? (blog)
- BiggerPockets Local Connect
Books Mentioned in this Show
- The Book on Investing with No or Low Money Down by Brandon Turner
- The 4-Hour Workweek by Timothy Ferriss
- “We want to be good landlords, we truly enjoy providing good living conditions to our tenants.” (Tweet This!)
- “To know that there is something that we can control that is providing us income is huge.” (Tweet This!)
- “I’d rather have a small percent of a deal than zero percent of the deal.” (Tweet This!)
- “You have to be ready to pivot based on the deal because not every deal fits in the same box.” (Tweet This!)
Connect with Mike and Matt
- Mike’s BiggerPockets Profile
- Matt’s BiggerPockets Profile
- Azeez’ BiggerPocketes Profile
- Kiran’s BiggerPockets Profile
- Cambridge Investment Group
Mike’s Photo (Ben Affleck?)