Inspiration: Money is a means, not a mission
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Inspiration: Real Estate is Awesome but still has risk
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There Is No Substitute For Fundamentals
[caption id="attachment_18116" align="aligncenter" width="300"] Accept No Substitutes and stick with Fundamentals[/caption] There Is No Substitute For Fundamentals The day in, day out business of managing apartments is not necessarily sexy. But fundamentals are core to long term ROI. Lease apartments – Get occupancies up and maintain those numbers Expertly manage expenses Collect consistent apartment rents Raise rents when and where appropriate That, in a nutshell are fundamentals. When we stray from these, we often can lose sight of the goal of efficient and effective ROI. Great ideas are born in boardrooms. They sometimes don’t play out at the property level. When we consistently focus on core fundamentals, we create a strong foundation for apartment portfolio success. The rest becomes icing on the cake. New Decade, New Plans As the apartment…
Inspiration: Desire can only take you so far…
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Key Learnings Trying Buy a Housing Authority Property
Key Learnings Trying to Buy a Housing Authority Property Property While trying to acquire a multifamily Housing Authority owned property, I became quickly aware the approach is different when dealing with a government entity versus experienced private or institutional sellers. These are my key findings: Hard Money isn't necessarily needed The motivation behind the Housing Authority is to get top dollar Amenities are very light and must be added to be competitive with surrounding properties While maintained well, interior renovations are a decade or more behind the times Little deferred maintenance because they have a mandate to keep a clean and safe property Any acquisition will take longer to stabilize and re-position to attract the right market rate paying tenants While tougher than a normal multifamily acquisition and re-positioning,…
2019 Cap Rates for Top 50 Multifamily Markets
CBRE released their first half 2019 bi-annual Cap Rate Survey for all asset classes. Office, Retail, Industrial, Multifamily, and Hotel. Download CBRE's First Half 2019 Cap Rate Survey Report The capitalization rate (cap rate) is used in commercial real estate to indicate the rate of return that is expected to be generated on a real estate investment property. Cap rate = Net Operating Income (NOI) divided by purchase price. Here are the cap rate trends for the North America's Tier I, II, and II multifamily markets for Class A, B, and C asset classes. Multifamily cap rates continue to be low but stabilizing for now.
Inspiration: Make The Turn at the Bend
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Building A Brand and Network
In June, I wrote a post about networking. Recently, went to a multifamily conference whose speaker and panel guest line up was pretty good. As I observed the attendees, I could visualize how these people will become, have become, or continually be successful. They went from one person or group or inserted themselves into conversations. A lot of good information was shared and learned. The most important aspect was the opportunity to collaborate or partner with others. Networking doesn't stop with the attendees, it also gives the opportunity to meet those movers and shakers at the conference to build your "Brand". Within real estate, building a brand is an important tool to learn, build, and cultivate. Being associated to those speakers and panelists gives you credibility with investors and…
On the Road to Financial Independence
Independence Day just passed and we're all reminded of how great this nation is. There full of opportunity to achieve financial independence. Many of us are in a full-time job. Some are content with being employees and careers but others want more to ensure their financial future without the ties of a full-time job. Achieving independence won't be easy and requires smart calculated risks while meeting the needs of retirement, family responsibilities, education, daily living expenses, and etc.. However, if achieved then all the responsibilities will fall into place easily and the intangible desires to spend more time with family and other interests are attained. Having a portfolio of real estate assets that generate income which exceeds their expenses is how I intend to obtain independence. Here are a few…
Inspiration: Failure is a fact of Life
Learn from Failure Key Takeaway: The more you fail the more you learn. Failure is okay and makes a person better. Never failing is never trying.
