Becker Business Podcast (Nov 3, 2025): CEOs of the Month – Ken Motew & Michael Motew, MO2 Properties

Host: Scott Becker
Guests: Ken Motew & Michael Motew, Co-CEOs, MO2 Properties

Episode Overview

In this compelling episode, Scott Becker sits down with brothers and co-CEOs Ken and Michael Motew, who lead Chicago-based MO2 Properties. The Motews share their journey in real estate, the evolution of their company, and offer candid insights into leadership, risk-taking, market trends, and building trust with investors and employees. The conversation delves into the nuts and bolts of scaling a hands-on multifamily business, weathering financial crises, and what it means to stay authentic and accessible as founders.

Key Discussion Points & Insights

1. Origins of MO2 Properties & Getting Started

• Company Name and Beginnings
  • The name “MO2” is a play on the Motew last name and a family nickname.
  • Ken began in real estate after graduating with an accounting degree, eventually partnering with Michael after the 2008 financial crash.
  • At launch in 2009, “we had 12 properties and a couple management accounts... literally, that’s all we had.” (Ken, [01:35])

2. Early Struggles and Pivotal Opportunities

• Scrappy Mindset and Receivership Work
  • The Motews took any business available, including $200/month management accounts, in the post-crash real estate market.
  • “We were down to seeds and stems except for our properties that Kenny brought in... we just needed to get going.” (Michael, [03:23])
  • A chance encounter with private equity group Speed Wagon led to a crucial partnership: “They come to us and say... we have unlimited funds. Buy as many properties as you can and do your thing with them.” (Michael, [05:41])

3. Building Confidence Amid Crisis

• Market Fundamentals and Taking Risks
  • Despite the chaos post-2008, their buildings had low vacancy and rents were stable.
  • “If the fundamentals are still there... why are we not going out there and buying it?” (Ken, [06:15])
  • “We’re risk takers. We don’t like sitting back and waiting around.” (Michael, [07:45])

4. The Power of Local Expertise and Quick Decisions

• Instincts, Experience, and Analytical Skills
  • Deep knowledge of Chicago’s north-side walk-ups allowed rapid, confident decision-making.
  • “One of the gifts Michael and I have... is we can walk into a building and be like, OK, it works.” (Ken, [09:02])
  • “It’s a good combination of intuition and experience.” (Michael, [10:09])

5. Relationships: Investors, Tenants, and Team

• Trust & Transparency with Investors

  • “Our investors are very comfortable with us because we’re extremely transparent, we’re very communicative, and we are not so prideful that we don’t admit when we make mistakes.” (Michael, [11:44])
  • Strong investor relationships are built on regular, honest communication—even when deals face challenges.
  • The Motews maintain personal involvement: “We’re hands-on operators... Michael and I will pick up the phone and talk to tenants.” (Ken, [12:44])

• Team Dynamics and Employee Retention

  • Recognition of team backbone (e.g., Cheryl in finance/reporting).
  • Efforts to stave off burnout in property management through employee investment in deals and a sensitive approach to family/business dynamics.
  • “It’s hard not to take it personally [when an employee leaves]... we like to look at what are our mistakes, what can we do differently?” (Michael, [16:22])

6. Scaling Up & Current Focus

• From “Six-flats” to Larger Infill Projects

  • Shifting to bigger, ground-up and conversion apartment projects due to high rehab costs and scalability.
  • “Now we’re looking at... more land plays in good areas and building brand new because the cost of rehabbing has gotten absolutely astronomical.” (Ken, [18:40])
  • “It takes the same amount of effort to manage a 40, 50, 60-unit building as it does a six-unit building.” (Ken, [19:55])

• Navigating Market Volatility

  • Interest rates and construction costs have transformed deal economics.
  • High occupancy, non-recourse debt, and historically low interest rates have been keys to their portfolio model.
  • “We literally, for three years, did zero deals... you had this uncertainty in real estate taxes [and] interest rates doubled.” (Michael, [22:08])
  • “We wanted to be done with this project... a year ago because rents are the best increase in the country right now.” (Ken, [23:03])

7. The Chicago Advantage

• Commitment to the City
  • Chicago’s enduring appeal for renters and investors alike.
  • “We think Chicago is the best city in the country.” (Ken, [27:10])
  • Optimism amid negative national press: “The city itself is hopping and going great.” (Scott, [27:43])

8. Advice for Entrepreneurs & Founders

• Lessons from the Motews
  • “Don’t be afraid to fail.” (Ken, [29:10])
  • “You don’t have to hit a home run every time. There’s a lot of variables, it’s not all going to work out perfectly, you have to be willing to take a risk.” (Michael, [29:13])
  • “The most important thing... is communicate with your investors. It can’t be where you get their money and disappear.” (Michael, [29:48])
  • “Sometimes we underestimate construction. But... what do you have to lose? You’re young, what are they going to take?” (Ken, [30:42])
  • “Build a team around yourself... of people who are as engaged as us and also in some cases smarter than us.” (Michael, [31:42])
  • “We have no ego when it comes to learning and making mistakes... that’s a better approach." (Ken, [33:33])

Memorable Moment:

• Discussion of their nearly conflict-free working relationship as brothers running the business:
  • “We’re closest brothers, closest friends... only one time we almost got into a fight.” (Michael, [34:26])
  • “It never did.” (Both, [34:55])

Notable Quotes by Segment (with Timestamps)

On Taking the First Leap

“We didn’t have much going on... we took any business we could get.”
— Michael ([03:23])

On Market Fundamentals

“As bad as it is, people still need places to live in good areas and they’re paying rent.”
— Ken ([06:15])

On Team and Culture

“We’re extremely hands on... we’re kind of like 24/7 on, and we’re at a manageable number.”
— Michael ([14:07])

On Risk and Growth

“We’re risk takers. We don’t like sitting back and waiting around."
— Michael ([07:45])

On Trust with Investors

“If you ask any of our investors, the number one word they use is trust. We trust you guys.”
— Ken ([12:44])

On Entrepreneurial Advice

“Don’t be afraid to fail... especially when you’re young, what do you have to lose?”
— Ken ([30:42])

“You have to communicate with your investors. It can’t be where you get their money and disappear.”
— Michael ([29:48])

Key Timestamps for Important Segments

• 00:49 — Ken’s introduction and MO2 foundation story
• 03:23 — Early struggles and the “take any work” phase
• 05:41 — Partnership with Speed Wagon
• 07:45 — Risk-taking and confidence in local knowledge
• 09:02 — Quick decision-making and local expertise
• 11:44 — Investor relationships and trust
• 15:02 — Discussion of current scale (800+ units) and team growth
• 18:40 — Move to larger projects and new construction
• 22:08 — The market slowdown and navigating rising rates
• 27:10 — Chicago’s unique strengths and ongoing appeal
• 29:06 — Advice for entrepreneurs
• 34:26 — Family business dynamics and partnership longevity

Episode Takeaways

• Persistence, calculated risk-taking, and deep market knowledge can create opportunities even during downturns.
• Personal involvement and transparency with investors are cornerstones of long-term relationships and business resilience.
• Building and maintaining the right team—and being honest about weaknesses—enables successful scaling.
• Entrepreneurial advice: Embrace failure, communicate relentlessly, learn from mistakes, and don’t underestimate the value of small wins.

This episode is a must-listen for anyone interested in practical real estate insights, the mechanics of small business growth, or learning what fuels enduring partnerships in business and family.