Ben Michel is the founder and principal of Ridgeview Property Group, a real estate investment firm focused on value-add multifamily properties in the Twin Cities. After a decade as a multifamily broker, Ben transitioned into investing during the pandemic and has since grown Ridgeview’s portfolio to $25 million in assets. He specializes in heavy-lift renovations using construction debt, transforming underperforming properties into long-term holds that generate stable returns.
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Key Takeaways
- A decade as a broker provided Ben with credibility and deal-analysis skills that investors trusted.
- Raising capital requires confidence, credibility, and broad connections—not just a handful of close contacts.
- Expanding his outreach from 50 contacts to thousands transformed his ability to raise funds.
- Coaching and mentorship were critical for learning construction loans, renovations, and repositioning strategies.
- Long-term success depends on planning for market cycles with reserves, staggered debt maturities, and strong operations.
Topics
From Broker to Investor
- Ten years as a multifamily broker built experience analyzing deals and observing operators.
- First investment came from converting a failed listing into a purchase with an investor partner during Covid.
Early Capital Raising Lessons
- First deal funded by a single $1 million investor—a stroke of luck.
- Learned the hard way that a tiny investor list made future raises difficult.
- Expanded his outreach by adding thousands of past contacts to his newsletter, enabling a $2.2M raise.
Mentorship and Scaling
- Immediately hired a mentor to learn construction debt, repositioning, and property branding.
- Shifted from “softball” deals to larger renovations requiring professional systems.
Twin Cities Market Strategy
- Avoids restrictive areas like St. Paul (rent control) and focuses on stable suburbs.
- Considered Nashville and Bentonville but doubled down locally due to his network and knowledge.
Value-Add Execution
- Renovates 1960s–70s properties with $18–25K per-unit budgets.
- Upgrades include flooring, cabinets, granite, stainless appliances, dishwashers, and modern lighting.
- Strategy creates long-term, easier-to-manage assets with better tenant profiles.
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Round of Insights
Failure that set Ben up for success: Jumping into his first duplex without guidance or capital taught him the value of mentorship.
Digital or mobile resource: X (formerly Twitter) — bookmarking threads from operators sharing multifamily insights.
Book recommendation: Elon Musk by Walter Isaacson.
Daily habit: Visualizing goals, from office setup to portfolio growth, to drive daily focus.
#1 insight for scaling a multifamily portfolio: Market cycles are inevitable—plan ahead with reserves and staggered debt maturities.
Favorite restaurant in Minneapolis, MN: World Street Kitchen.
Next Steps
- Connect with Ben on LinkedIn
- Subscribe to his newsletter for multifamily updates and deal insights
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