MultiFamMan @MultiFamMan

120mm+ in MultiFamily apartments. Everyone is a seller at the right price or the right time. Tweets are opinions, not advice. New York, USA Joined November 2022

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MultiFamMan @MultiFamMan

2 years ago

I will never understand Decaf coffee.

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We are seeing values that we have not seen in 5 years. Just underwrote and toured 350 units at a legit 6.3 cap in a primary market, with an excellent basis at 25% below replacement cost. Drafting an LOI right now. Debt markets may change over time but basis is forever.

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MultiFamMan @MultiFamMan

2 years ago

Townhomes are my favorite type of apartments to buy. Tenant retention is way higher than regular apartments, as the occupant feels like they have their own home. Renewal rate on our portfolio is 65/35 Renewal rate on our townhomes? 80/20

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MultiFamMan @MultiFamMan

2 years ago

Everyone sounds intelligent on a podcast. Give me some headphones and a mic, and I'll also tell you where the market is going.

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MultiFamMan @MultiFamMan

2 years ago

Real Estate is a relationship based businesses. One transaction in bad faith will ruin your career. Be careful how you buy or sell, even after the contract has been signed. Your name is worth more than your portfolio.

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MultiFamMan @MultiFamMan

3 years ago

T-Bill will drop tomorrow as people will be pulling out money from banks and looking to place it in treasuries, thereby pushing the rates down. We will be looking to rate lock.

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MultiFamMan @MultiFamMan

3 years ago

We buy properties. Not loans. Sounds simple, but we have to explain this to brokers daily, nowadays. All these assumable loan deals, buyers are chasing yields but are forgetting the fundamentals of basis.

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MultiFamMan @MultiFamMan

3 years ago

Circled back with brokers on three deals that I bid on four months ago... None of them sold. Stay disciplined. The deals are coming.

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MultiFamMan @MultiFamMan

3 years ago

My biggest personal argument in RE is that there is no such thing as a "gain to lease" on a standard 12 month rental. If I have achieved more than "market rate" my new rent is now the new market rage. Demand dictates price. There is no better comp than the subject itself.

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MultiFamMan @MultiFamMan

3 years ago

This is your Friday reminder to focus on boosting your NOI. Bring up your NOI and you will bring your property value up. It's that simple. You can't control the market, but you can try to control the outcome of your own asset.