All Forum Posts by: Pramod Yash

@Ivan Barratt

Exactly. I had the same thought given the yield curve inverted today. I just posed the question in a new post.

Serendipity!!

Dear all:

The yield curve has inverted today. Typically it is viewed as a countdown to a recession.

Are you guys still as active as you were a few years ago?

I have been looking in Phoenix and people are paying over ask and more earnest money.

Curious to know what the experts and prolific investors here thought of where we are in the capital markets cycle. I realize each location is different with respect to the local supply demand parameters by capital markets condition apply to all.

Do you plan to change how you underwrite?

 Many thanks, Alina. Appreciate the recommendation for "Its a whole new world" . Looks like it has a wealth of Information.

@Ray Johnson thanks. No, I think I am good at AM, operations and all things financial. What I am looking for is some guided help and initiation to deal sourcing, capital raising i.e. relationships (not financials), and execution on value-add / rehab (i just don't know anything about construction).

I believe I have to find the right team and not focus on everything myself. However, I wanted to learn nuances of capital raising as I think I have a source of access to funds - overseas and domestic.  I am afraid to make mistakes, to be honest. re: @Pat G.

I think I am going to take @Omar Khan's advice and start a thought leadership platform on data driven investing in multifamily. I have some thoughts based on my experience and hopefully it will be useful to others.

@Simon C. I will reach out and connect with you.

Thanks @Luke Miller @Mike Taravella much appreciated.

Dear all:

I am writing to get your advice on a multi-family syndication bootcamp where I can get some hands-on experience with deal-sourcing, capital raising and executing value-add programs.  I guess the best way to intern (for free) with someone who could use my analytical services and shadow them and am looking for advice/referral on that front as well.

Having been in the institutional world for a long time, I am deeply familiar with underwriting, financial projections, debt financing etc. The areas that I think I need help before I take a plunge (market conditions permitting, ofcourse) are the 3 I mentioned above (plus overcoming my own fears) .

I have been listening to various podcasts (Rod Klief, Neal Bawa, Old Capital etc) , read some of the books (e.g. Best Ever.. by Joe Fairless) and blogs on syndication ( Coach Carson, Reed Reed Goossens) and also committed to investing passively in a few deals.

Any advice would be greatly appreciated?

@Luke Miller no one knows. My problem is that I am risk averse and I think too much of the downside. 

Here is what I am looking at. My notes at the top.

No more fiscal stimulus and corporate debt overhang that cannot be rolled. 

In my humble opinion the last recovery has been an abnormality juiced by excessive monetary and fiscal stimulus. while there is still plenty of monetary stimulus ( anyone who held any asset - real estate or stock - made money; no genius needed except to own an asset and the FED handed out free money and a lot of easy money sloshing around on the monetary front, fiscal stimulus is another ballgame and there wont be an appetite in an election year

@Matthew Baltzell excellent point. Goal is to try and figure out what makes sense at a micro market level and how much of it can be automated. If I am investing OOS initially, I need a quick gauge of which deals make sense based on location and strategy and where there is a price arbitrage - only for the single family and small multi plays.

Thanks @Marc . Great list. Thanks for sharing.

@Marc Rutzen. I have followed your work and am really impressed with the work that your team at Enondo has put together. You guys are destined for greatness.

@Mike Krieg thanks. Same with judicial vs non-judicial jurisdictions.