When you can join Michael
Start times are local to Houston, TX.
- Walk a Job Site with a Real Estate DeveloperStarts 8 AM, 6 hours
- Underwrite a Real Development DealStarts 9 AM, 5 hours
What Michael hosts
Walk a Job Site with a Real Estate Developer
From land deal to lease-up: tour an active tower build and learn how projects get financed.
- Length
- 6 hours
- Group
- 1–3 guests
- Price
- $400
Underwrite a Real Development Deal
Build a pro forma for a 120-unit project line by line and decide whether you would buy the land.
- Length
- 5 hours
- Group
- 1–4 guests
- Price
- $275
About Michael
Michael Reyes spent his early career underwriting construction loans for a regional bank, which meant reading hundreds of other people's pro formas. In 2011 he used his savings and a small group of investors to build a fourplex, and it leased up faster than he had projected. He kept going from there.
His firm now develops mid-rise multifamily and mixed-use buildings across the Houston area. Mornings are usually on site with the superintendent, walking floors and chasing schedule issues. Afternoons go to lenders, equity partners, architects and the city, because every project is really a set of agreements that all have to hold at once.
He hosts because development looks mysterious from the outside, and he thinks it should not be. He wants people to see how land, debt, equity and construction fit together on a real project.
What you’ll learn from Michael
- How a development deal is financed with construction debt and equity
- How to read a pro forma and spot the assumptions that matter most
- What gets decided in an owner-architect-contractor meeting
- What makes a parcel of land workable for a project
