$58 Million in Midwest Apartments with Tate Siemer, Ep. 445

Tate Siemer is the visionary and CEO of GreenLight Equity Group, which currently owns 595 units totaling $49.5M in value in Oklahoma City, and Columbus, OH. Tate’s passion is improving apartment buildings in such a way that maximizes value of community. In order to provide solid, consistent returns to investors and well-being to residents, Tate and team operate clean, safe, progressive communities that promote a thriving living environment. Tate hosts “The Apartment Guys Podcast” and serves on the Executive Board of the Utah Real Estate Investor Association. 

We talked to Tate about the Greenlight Equity Group, hybrid markets, the importance of finding the right property manager, and his approach with investors.

Groundbreaker: Click here to learn how to raise more money and speed up the syndication process by 80%!

[00:01 – 05:16] Opening Segment 

• Tate talks about his background
• He talks about the Greenlight Equity Group
• He talks about the markets they prefer to invest in
• Why he and his partner switched to multifamily

[05:16 – 22:56] The Midwest Market and The Right Property        Manager

• The reasons why Tate prefers to invest in the midwest;
• Why you should invest in hybrid markets like Oklahoma and Columbus;
• How to oversee operations from a distance;
• How not finding the right property manager can harm you;
• The importance of implementing an asset management plan to get everybody on the same page;
• The importance of finding the right property manager for the right asset class;

[22:56 – 32:08] Investor Relations

• Lessons that Tate learned in his journey;
• The things that Tate would do differently if he could go back in time;
• He talks about his approach with his investors;
• Why you should fail forward;

Announcement: Download Our Sample Deal and Join Our Mailing List

[32:08 – 41:59] Round of Insights

Apparent Failure:

Finding the wrong builder to partner up with to build townhomes in Salt Lake City;

Digital Resource:

Audible

Most Recommended Book:

Multifamily Investors Who Dominate

Daily Habit:

Meditation 

#1 Insight for Raising Capital for a New Investor:

Don’t wait until you’ve got the deal to try to raise capital.

Best Place to Grab a Bite in Salt Lake City: 

Red Iguana

Contact Tate:

To learn more go to investwithgreenlight.com. Click here to listen to Tate’s show “The Apartment Guys”. To listen to Neal Bawa’s most recent interview with John, click here.

Tweetable Quotes:

“You just have to vet your property manager as if you are hiring an employee or a CEO of your company.” – Tate Siemer

“You need to be ready to make decisions without having all of the information” – Tate Siemer

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW,  and hit that subscribe button so you do not miss an episode.