Profit by Converting Offices & Hotels to Multifamily with Mike Zlotnik

Currently CEO of TF Management Group LLC, Mike has been a real estate fund manager since 2009. Mike is a retired software executive who began investing in real estate in 2000. Today, Mike manages a variety of funds, including the Tempo Growth Fund LLC and the Tempo Opportunity Fund LLC. Mike is known in real estate circles as “Big Mike” due to his stature, but more importantly, he is known for his personal integrity and for having a keen understanding of the financial aspects of successful real estate investing. Notably, Mike is a former political refugee from the USSR who is now an American citizen and a patriot. He lives in Brooklyn, NY, with his wife and four children.  Mike is the author of the book “How to Choose a Smart Real Estate Investment Fund and Host of the Big Mike Fund Podcast. 

[00:01 - 05:51] Opening Segment

• Coming from Russia with love
• Mike shares about his life and how he found himself in real estate
• The effect of the pandemic on Mike’s real estate career

[05:52 - 09:55] Office and Hotel Conversions: A Rising Trend

• Mike shares how he started converting offices and hotels to multifamily
• A Pre-COVID Investment
• The Best Offices and Hotels to Convert
• Why Location is a Key

[09:56 - 28:22] Profit by Converting Offices & Hotels to Multifamily

• All about converting and renovating offices and hotels
• Why Affordability is a Big Deal
• The Right Market for the Converted Projects
• The Process of Evaluating Deals and Sponsors
• Mike talks about negotiating better terms and diversification

[28:23 - 41:40] Closing Segment

• Quick break for our sponsors
  • Groundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.
• What is the best investment you've ever made other than your education?
  • Potforms 
• Mike’s worst investment
  • A loan for a fix-and-flip in California

• What is the most important lesson that you've learned in business and investing?
  • “Invest with people you know and trust.”
• Connect with my guest. See the links below.

Tweetable Quotes:

“Affordability is a big deal.” - Mike Zlotnik

“Diversification is for those who would want to take outside risks.” - Mike Zlotnik

“That’s why you’re diversified.  You don’t know what’s going to be a home run, what’s going to be a complete collapse… In the real estate, it’s very different.  Collapses do happen, that's why you’ve got to kind of spread your risk.” - Mike Zlotnik

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Connect with Mike Zlotnik through TF Management Group, Facebook, Youtube, LinkedIn, and https://bigmikefund.com/.

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.