22 years of Experience on Asset and Construction Management with Mike Konstantas

Sep 19, 2022

Welcome back to Small Axe Community Podcasts! Today we are joined by Mike Konstanstas Mike co-founded New Wave Capital and is responsible for asset management, construction management and many of the back-of-the-house activities involved in daily operations. Mike brings a background in construction with over 22 years of experience in custom architectural millwork. His work is showcased and featured in some of New York City’s most famous and acclaimed restaurants as well as the City’s most prestigious office buildings. Mike has over 10 years of experience in residential and commercial real estate investments. Prior to New Wave Capital, Mike co-founded 168 Capital Group, a private equity investment company focusing on multifamily acquisitions. Mike has a degree in Construction Management/Engineering Technologies from the State University of New York, Farmingdale.

[00:56 - 07:56] Opening Segment

• Mike co-founded New Wave Capital and is responsible for asset management, construction management, and many of the back of the house activities involved in daily operations.
• Mike has a degree in Construction Management, Engineering Technologies from the State University of New York Farmingdale.

 

[07:57 - 15:03] How to successfully syndicate a large number of units in a short amount of time

 

• Mike Konstantas goes to Greece after 14 years 
• The time difference between his partner made it difficult to work together, so they brought on another partner.
• They decided to take a look at the properties together
• They closed two properties in Columbus in 2020.
• One of the properties they closed was syndicated.
• They sold both properties for excellent returns.

 

[15:03 - 23:42] Columbus Multifamily property brings in new investors

 

• Quick Ad: Nico Invites you to join Jake’s & Gino’s Multifamily Mastery 5 in Florida this coming November 2022 If you’re joining, Nico Salgado offers early bird pricing for you! All you have to do is connect and message him through his Instagram, Facebook, and LinkedIn or email him directly at [e-mail] to get the code you can use to avail of a discount!

 

• The Columbus multifamily property was a syndication, while the Pittsburgh property was a JV deal.
• The Columbus multifamily property is currently in the process of renovating and is expecting to have new tenants in by the end of this year.
• In Pittsburgh, four or five deals have been closed so far and Deron is involved heavily in all of them.

 

[23:42 - 33:38] Retired but not done: How one family business pivoted to survive the COVID shutdown

• Mike's experience in the multifamily industry, including their first deal and subsequent deals in the space.
• Mike shares about the difficulties they experienced during COVID and how it impacted their business.
• He discussed their decision to retire from multifamily investing and how they are still working with clients focusing on commercial projects.

[33:39 - 36:06] Closing Segment

• Final words
• Connect with Mike Konstantas by calling  [phone], or send him an email [e-mail]
• Or visit their website at www.newwavecapitalgroup.com

 

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Tweetable Quotes:

 “We are looking at different avenues. It's just that in the other assets, it's not we're not looking and doing those alone. We're looking at doing those things with people that are in that space and know that space and can therefore help that learning curve a little bit for us moving forward." - Mike Konstanstas