#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
August 27, 2020
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…
Michael’s Website: Click Here
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- Check out our company and our investment opportunity by visiting SunriseCapitalInvestors.com
- Self Directed IRA Investment Opportunity – Click HereTo 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 themClick Here
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