Just Another Value Add @ValueAddGuy

Over a decade in commercial real estate. Mostly in small multi-family. X's and Tweets are not advice. Joined June 2022

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Just Another Value Add @ValueAddGuy

4 months ago

Update on spring leasing in the midwest Getting strong traffic on 1-3 bedrooms. Rents are pushing, but not screaming up Retention up vs. last year Short term and midterm rentals are almost as strong as the covid boom Not seeing many concessions out there except on 5+ bedroom

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Just Another Value Add @ValueAddGuy

4 months ago

Recent closing on a building I was paying off a construction loan on from a local bank: 50% LTV, 3 year 7.25% 20 year amortization, first 2 years interest only with a 1% prepay

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Just Another Value Add @ValueAddGuy

4 months ago

Update here on insurance. 3 different quotes I received. $9,000/yr $17,000/yr $24,000/yr

Just Another Value Add @ValueAddGuy

5 months ago

Update here on insurance. 3 different quotes I received. $9,000/yr $17,000/yr $24,000/yr

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Just Another Value Add @ValueAddGuy

5 months ago

The insurance quotes I'm seeing coming in for a late 1800's apartment building in the midwest are crazy high

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Just Another Value Add @ValueAddGuy

5 months ago

6 days apart I priced a loan with a private lender for a cash out refi on a 3 unit. 30 year fixed. 75% LTV March 27: 7.63% April 4: 7.31% 30 year, 10 years interest only. 70% LTV March 27: 7.39% April 4: 6.92%

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Just Another Value Add @ValueAddGuy

5 months ago

Powell’ revived “transitory” just in time. If he sees tariff driven inflation as short lived, he’s got the cover to cut rates in May, or even earlier.

Nick Timiraos @NickTimiraos

5 months ago

Powell’ revived “transitory” just in time. If he sees tariff driven inflation as short lived, he’s got the cover to cut rates in May, or even earlier.

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Just Another Value Add @ValueAddGuy

5 months ago

I offered the tenants of a brick 6 unit all two year leases extensions in early March. Their current leases go through August or September 2025. None of them took me up on it. But every single one of them signed through September 2026.

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Just Another Value Add @ValueAddGuy

6 months ago

It took me longer than I'd like to admit to get this through my head: Just because a building is in a 'good location' it doesn't mean it will attract the type of tenants you think it will.

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Just Another Value Add @ValueAddGuy

6 months ago

Something interesting going on with Furnished Finder. The amount of listings are up nearly 4x compared to last year. We have seen steady demand still, but it's obvious that some of the Airbnb listings are starting to convert over.

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Just Another Value Add @ValueAddGuy

a year ago

Talked to a local bank with a small footprint today. 5 year loan with a 20yr amortization at 7.15% 2-3 years of interest only and no prepayment penalty. Small multi

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Just Another Value Add @ValueAddGuy

a year ago

I have 2 small multi properties under contract for sale. Both are 1031 exchange buyers

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Just Another Value Add @ValueAddGuy

a year ago

Pre 2020 there was a lot of demand in a college town we invest in for 5,6,7 bedroom houses. Since then they have been receiving very little to no applications for rent.

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Just Another Value Add @ValueAddGuy

a year ago

Every city has a 'hot' leasing time of the year. For many that is June-Sept. What makes a college town unique is that you are supercharging those months with demand. The population changes drastically when the students move in. Even if your target market isn't students

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Just Another Value Add @ValueAddGuy

a year ago

A few leasing updates: In April and so far in May we have seen a lot of demand for vacant units. Prices are also ticking up compared to last year. Mid-term rental demand has fallen off a cliff. Short term rentals are down, but not as bad as the mid-term units.

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Just Another Value Add @ValueAddGuy

a year ago

Quoted an 8 unit value add project with a hard money lender Acquisition with no rehab money: 30yr fixed 75% LTV with 1.2% DSCR, 8.5-8.75% interest only for 10 years Acquisition with rehab costs: 12 month bridge, 11% interest only. 75-80% purchase price, 100% rehab cost, 70% ARV

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Just Another Value Add @ValueAddGuy

a year ago

Definitely seeing more deal flow, but sellers expectations still haven't come down enough to get something done. The stock marketing dropping significantly is probably the only thing that pushes them to transact

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Just Another Value Add @ValueAddGuy

a year ago

Was just quoted 8.5%, 5 year balloon with 20 year amortization from a local bank we have done a lot of business with

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Just Another Value Add @ValueAddGuy

a year ago

One of the hardest things for me about renovating older buildings Refinish the beat up and uneven hardwood floors, or lay over them?

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Just Another Value Add @ValueAddGuy

a year ago

There’s a big difference between an owner who will pick up trash when they visit their property and one that won’t

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Just Another Value Add @ValueAddGuy

a year ago

A friend in Ohio lost his uncle in So Cal, who lived in a duplex as an owner occupant My friend lived there for 2 months, 5 years ago His phone hasn’t stopped ringing for the last 3 weeks from people trying to buy it, thinking he inherited it Sometimes this business is brutal