The Best Ever CRE Show JF 4026: CapEx Reserves, Delinquency Screens and Affordability Underwriting ft. Mike Roeder
Sep 12, 2025
Mike Roeder, Co-Founder and Managing Partner at Granite Towers Equity Group, brings his expertise in multifamily assets to the discussion. He shares how words can shape community perceptions and why aligning third-party teams with owner values is crucial. Roeder emphasizes the importance of upfront CapEx and thorough delinquency screening to bolster affordability. His asset management strategies, including incentivized collections and innovative revenue ideas, like monetizing amenities, showcase a forward-thinking approach in navigating today's real estate landscape.
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House Hack Sparked The Career
- Mike and his wife bought a four-bedroom near campus and rented three rooms to cover the mortgage while attending college.
- That house-hack launched his landlord career and led to subsequent single-family investments.
Local 20-Unit Taught Tough Lessons
- Their first 20-unit in their hometown underperformed after college enrollment collapsed, and they essentially broke even after four years.
- They learned to vet tenant base, market trends and to avoid relying on cash flow for repairs.
Fund CapEx Up Front
- Raise and secure all CapEx capital up front instead of relying on operating cash flow to fund guaranteed capital needs.
- That prevents painful cash shortfalls if occupancy or revenue underperform after acquisition.
