Most investors start their careers by focusing on a single asset class but often discover their niche as they advance. In this episode of Zen and the Art of Real Estate Investing, Jonathan interviews Mike Roeder, the co-founder and managing partner at Granite Towers Equity Group, where he handles operations, acquisitions, investor relations, and asset management. Mike also co-hosts the Keeping It Real-Estate podcast and co-authored “4 Steps to Successful Passive Investing.”
Jonathan and Mike begin their conversation by discussing the house hack that Mike and his now-wife undertook in their early 20s, which sparked his interest in real estate investing. They delve into Mike’s path to syndications through multifamily assets, his portfolio’s gradual scaling, and his decision to diversify beyond Minnesota. Mike shares insights on his ideal value-add apartment complex and neighborhood, emphasizing resident amenities. They also explore why Mike was drawn to Nashville and Dallas-Fort Worth, the four steps to successful passive investing, and the work required even in passive investing.
Jonathan and Mike delve further into:
- Mike outlines the four steps to successful passive investing from his book.
- Before buying a multifamily property, he looks for ways to value-add to the asset, which helps force appreciation.
- While he purchases assets with the intention of renovating and adding value, low turnover means he often offers existing tenants other options for their residences and ensures they have access to amenities.
Syndications can be a fantastic way to create passive real estate income, but Mike Roeder emphasizes that no asset is ever entirely hands-off.
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