All Forum Posts by: Kent Ritter

I'm excited to share the guest speaker for this month’s meetup is Julie Anne Peterson, Senior Director at Old Capital Lending. She’ll talk to us about the current lending environment in the multifamily real estate market, as well as answer any questions.

After our speaker we will open up the floor to the group to share our haves, needs, and wants.

Multifamily-focused networking and education event.  

We have a great group of folks that meet every month, and we are always open to newcomers with new perspectives.

Each month we will have a short presentation from an industry expert

Bring your deals and questions for the group to review.

You are only one contact away from your next big deal!

Our guest speaker this month is none other than Kay Kay Singh. He has been featured on podcasts hosted by multifamily leaders such as Joe Fairless, Rod Klief, Whitney Sewell, and Jake and Gino.

He is an accomplished business owner and entrepreneur who is now up to 26 different streams of income including multiple gas stations and convenience stores, a laundromat and around 2764 units as LP/GP in multifamily syndicated deals in various locations around the US.

He is going to share his experiences and lessons learned in multifamily investing and syndication.

Join us online to hear from this premier investor. He will be joining us from his hometown in Fort Wayne, IN.

@Ric Ernst. You hit on the major disadvantage of residential <5 units, vs. commercial multifamily >=5 units. They only appraise on market, so you can't force appreciation. You can create tremendous value in multifamily by increasing NOI and appraising it on income.

@Christopher Dente. I can tell you from experience that they are wrong! Indy is a great town for BRRRR. I've been doing it with both SFR and multifamily for years. I'd find a different PM. Let me know if you need contacts to get started looking for properties.

I agree with everything said above.  Being born and raised in Indy I may be a little biased but the demographics and jobs back it up.  Especially for out of state investors Indy provides great relative value and stability.  We've invested all over the midwest and southeast and keep coming back to the fact that cities "like Indy" are great places to invest for the reason @Jack Liu pointed out.

Join Zoom Meeting via link in invite or using phone numbers below.

One tap mobile
+13126266799,,949846190# US (Chicago)
+16468769923,,949846190# US (New York)

It's a new world out there. We are all trying to cope with the changes from Covid-19 and the impact on our lives and properties.

We will be covering strategies to work with your residents to minimize bad debt that come directly from my conversations with some of the leading operators in the state.

Additionally, we will have Aaron Kuroiwa, Marcus and Millichap, discussing how the market has changed and what M&M is expecting market conditions to look like as we come through the pandemic.

@Kaustubh Deshpande. I believe the lenders have learned their lesson from 2008 and are going to work better with us this time instead of the us vs. them mentality. Also the bridge lenders and banks are being given more leeway.

By mid-April we will better understand the impact to rent delinquency. That will tell the other side of the story.

For cap. rates, I believe there will be competing forces: the flight to stable hard assets and increased uncertainty and stricter loan requirements. I’m not sure which one will win yet.

@Jarrod Pettit fear is a huge component right now. With this much fear about the future many people won’t act. I think you have to stay in contact with your investors to understand what they are going through.

Many people are waiting to see what April and May look like for bad debt to see how much Multifamily and MHP will be impacted.

At some point the fear will subside and we will move forward. At that point conservative cash flowing deals will be seen as a safe haven.

I think as a capital raiser in this time you have to be patient and continue to add value to your investors by maintaining perspective that your deals still make sense in the long term.

@Christopher Aguilera.

One other item to consider when building are local groups such as a neighborhood association.

When ran into issues on one development where the zoning was fine and we had the right plans for what we thought the highest and best use was...too bad the neighborhood association didn’t agree. There connections to city council put a big roadblock in our way!

Big lesson learned for me on that project.

Another example is a historical society. Do your homework on all of the parties that have influence in an area.