Multifamily Investing Market Update

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VIDEO TRANSCRIPTION

00:00
i’m your lovely host ferris this is our
00:02
less lovely host
00:04
ben but still lovely so what do we do
00:06
this every monday 3 30 central
00:08
3 30ish central time it seems like now
00:11
we’re a couple minutes late
00:12
i’m gonna blame this slacker over here
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it’s always my fault i mean somebody was
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trying to do some work
00:17
this guy over here absolutely you know
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but anyway
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what are we talking about today man we
00:22
are talking about multi-family investing
00:25
market updates okay
00:28
so this is actually this is a fun one so
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we’re going to get right into this
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but once again welcome everybody we do
00:33
this every monday 3
00:34
30 p.m central standard time
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not check us out not am not a.m you know
00:41
and if you guys have questions
00:42
drop them in the comment section give us
00:45
a like give us a share
00:46
we love it to be interactive if you guys
00:48
have any topics that you want us to
00:49
cover please
00:50
drop those in the comments as well
00:51
shannon will pick that up we’ll get them
00:53
into the queue
00:54
doesn’t necessarily have to be
00:55
multi-family it could be real estate
00:57
entrepreneurial
00:58
tech whatever you want to talk about
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right so we’re going to hop right into
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this
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all right so one of the questions that
01:04
we got right what do you see in today’s
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market regarding competition
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pricing and deal flow oh it is
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definitely getting competitive i mean
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you know it was kind of quiet honestly i
01:15
thought january would be busier than it
01:17
was
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yeah but i would kind of come out of the
01:19
cobot slump expected
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things to be hotter because december was
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starting to heat up i expected january
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to be really hot
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for those that don’t know usually in
01:26
january whenever nmhc the big
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multi-family conference happens that’s
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where all the brokers and that’s where
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all the brokers go and that’s where they
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list deals
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so usually january you see a big influx
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well january was actually quiet
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but february and march things really
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really heated up and there’s just a ton
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of deals
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on the market and so i like whenever
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there’s too much deals on the market
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because demand is already high
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so if you increase the supply usually
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you can find a deal or two that makes
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sense
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right and so um sometimes right and so
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ultimately
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i mean it’s hot out there right cap
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rates have compressed in every single
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market we’ve looked at yeah
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right debt is cheap it’s continuing to
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be cheap
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and there’s just a lot of demand right
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there’s a lot of money wanting to get
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into multifamily so
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and i think that there’s there’s a fair
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amount of deal flow right you know
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there’s not i wouldn’t say it’s a lot
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you know there’s uh there was obviously
02:10
a little bit more i think in february
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march it’s kind of trickled off a little
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bit since then
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um but the demand for that supply is is
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gone through the roof right
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so if anyone has a good deal and you
02:21
needed to flow the deal
02:22
somewhere you flow it to us let us know
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we do co-gp
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you know we’re looking to get any deal
02:27
across the finish line anything from
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you know five to uh 70 million dollars
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we are very interested in absolutely
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right so what does that do to pricing
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though man that to pricing i mean really
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pushes prices down right cap rate’s
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compressed valuations go up
02:43
right and basically you know prices are
02:45
going up so yeah
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so cap rates remember folks cap rates go
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down valuations and prices go up all
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right so that’s how this works it’s it’s
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inverse to each other
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so cap rates have been compressing two
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different reasons why
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we’ve talked about this on the show
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before right but debt is cheap
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very very cheap in comparison to
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historical numbers
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right you can still get an all in coupon
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at three and a half percent
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fixed rate for 10 to 15 years
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people haven’t ever done that you know
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and on top of that
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the the fed and just in general there’s
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just the whole economy is awash with
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money
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and people are looking to where is the
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best yield for that capital
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and multi-family was fairly resilient
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because of covid
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right we did have some challenges
03:30
obviously still ongoing with the
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eviction moratoriums
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but in comparison to say hospitality or
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some retail or some office
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you know we’re looking pretty good and
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so you’re having even more people flow
03:40
into the multi-family market than where
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they are even before that so that is why
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pricing is going
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up right and cap rates are going down so
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number two what multi-family asset class
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is performing well
03:52
so i’m gonna go this is just our own
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personal opinion right
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obviously everybody might have their own
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and if if you do have a comment please
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drop it in the
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in the comment section if you would
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right you know we’re seeing
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it’s kind of more b you know than maybe
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an a than a c
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right and i think it depends i’ll say
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this because cap rates have compressed
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right in all asset classes
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the problem is the spread between asset
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classes has not
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changed that significantly right and and
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what i mean by that is
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the spread between an a and a c is very
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small right ultimately
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i’m a big believer in why so let’s let’s
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back up there let’s maybe kind of you
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know because
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for some folks that are just tuning in
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right so you know you’re you’re going to
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have
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cap rates right so let’s just use round
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numbers so for example
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a c might be a 5. that’s a c
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a b might be 4.8
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and an a might be 4.6 right so there’s
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not a big there’s not a big
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divergent between those three right yeah
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so i’m a big believer personally is hey
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i’d rather pay up a little bit more
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and get a deal that’s 20 30 40 years
04:55
newer yeah
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then try to save a couple of bucks and
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get something that’s significantly older
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yeah that’s just ultimately my my
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philosophy and so
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right now in this kind of weird market
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where there’s a lot of demand on the sea
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you know i think we’re especially in the
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park market question we’re targeting
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maybe a different asset class right you
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know because
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there is parts you know of the country
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where it’s literally there’s no
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uh differentiation between those asset
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classes right and one thing that we saw
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in atlanta we were out there last week
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right
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is that b’s and c’s
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are actually lower cap rates than an a
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right and people are going to be like
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wait that’s kind of
05:32
what does that mean how’s that possible
05:33
right it’s because you know you’re
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seeing
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some level of rent growth with the bees
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and the seas right now
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and there’s still some deals that have
05:41
some meat on the bone so the market is
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pricing those more competitively
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than an a where there’s concessions
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sometimes or
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you know you know rent growth might not
05:50
be as you know robust
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as say a b or c that’s atlanta right
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each market is different
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right but what we’re seeing is that
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instead of there’s this big gap
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like there used to be traditionally
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there’s very little gap if any
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in some of these markets right so you
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know i’m gonna say i’m gonna go out
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there on a limb and say
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probably a b class multi-family is kind
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of where you’re gonna probably have the
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best
06:11
uh returns through covid right now
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what’s gonna happen in the next
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six to twelve months nobody has a
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crystal ball right but that’s what
06:18
happened probably performed the best
06:20
through covet um how has your investing
06:22
strategy changed in 2021
06:25
well you just kind of you kind of went
06:26
on one of them right looking at other
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deals that we don’t we
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also i mean honestly just it’s hard to
06:31
find a true value add right so
06:33
changing that dynamic and looking at
06:34
deals differently right maybe it’s not
06:36
about just putting money into the
06:37
interior it’s about
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what else can we do to kind of juice
06:40
those deals right yeah
06:41
it’s going to be creating you know
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covered parking some of these other
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things that are
06:45
lower revenue things but sometimes the
06:47
only thing that you actually can do to a
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property
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yeah there’s only so much lipstick on a
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pig that you can do folks so
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you have to really get creative and
06:54
what’s the story here on these class c
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deals right you know
06:57
and and like fair said you know some of
06:59
the stuff might not yield a
07:02
tremendous amount of return on
07:03
investment but it’s it’s better than
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you know doing nothing right and so you
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know and sometimes the
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the interiors might have already been
07:11
upgraded so you have to look through
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these other strategies the other other
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parts of the
07:14
the property that you can increase the
07:16
the evaluation there right
07:18
you know i would say overall how is our
07:22
investing strategy changed
07:23
i think two things right you know um we
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are looking
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at newer deals and better markets
07:30
right you know we’re not not shying away
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completely
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from secondary tertiary and we’re not
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shying away from class c
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um you know and i think the other thing
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that we’ve we’ve kind of
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tried to try to be good about we were
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just looking at one earlier
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but you know the numbers really have to
07:45
work is anything that was built in the
07:47
60s
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you know i think a lot of this stuff is
07:50
coming up on its on its useful life
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and you have to be very very careful
07:54
right plumbing electrical
07:56
mechanical systems are just going to
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start failing and
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you’re not going to get very little
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return on investment if at all
08:02
replacing all the plumbing on a property
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right you know people just expect that
08:06
stuff to work
08:07
right they’re not going to pay you an
08:08
extra 50 a month because the plumbing
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works or that you and
08:11
you you had replaced all the plumbing on
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the property nobody cares
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you know and and even on the on the sale
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side nobody really cares you say oh you
08:19
replaced the plumbing yeah that sucks
08:20
for you that you actually had to bite
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that bullet
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but i’m not necessarily going to give
08:24
you an extra five million dollars
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because you did that
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yeah right maybe you get a little bit of
08:27
pop but not really so that’s kind of
08:30
somewhat of how we’re looking at the
08:31
market and some of the things that have
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changed
08:34
uh in 2021 and it will continue to
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evolve i think the one thing that we’re
08:37
good at is
08:38
we’re we’re a boutique firm so we can be
08:40
nimble
08:41
and we can kind of fluctuate depending
08:42
on the you know some of the strategies
08:44
that we’re seeing kind of be
08:45
successful in the market so uh that will
08:47
continue to evolve
08:49
um what do we see in terms of rent
08:51
growth occupancy and collections all
08:54
right
08:54
so rent growth i’m seeing that there was
08:57
some pent up demand
08:58
even in the seas right now this is once
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again dependent on the sub market folks
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you know real estate is hyper local so
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i’m not taking i’m not
09:08
making a blanket statement across the
09:09
united states here you know but there is
09:11
some rent growth potential in the
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markets that we invested in which is
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texas and georgia
09:16
right florida as well um occupancy for
09:19
the most part has stayed fairly
09:21
fairly strong right in the 90s has been
09:23
good and i mean we are starting to see
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that rent growth happen i mean we’re
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starting to get those pushes those
09:28
renewals and so
09:29
you know we think is inflation going to
09:31
happen maybe probably
09:32
right i think so you know i think i
09:35
think
09:37
properties will naturally start to
09:38
collect more as things kind of sizzle
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from kovid
09:42
right as the economy picks back up and
09:43
people start to move forward and i think
09:45
that goes into collections right which
09:46
was the the tail end of this question
09:48
right collections
09:49
is is in a lot of ways tied directly to
09:52
where we at with these eviction
09:53
moratoriums and
09:55
i think that that is starting to open up
09:57
a little bit you know i think it’s going
09:58
to be contested and probably go all the
10:00
way up to the supreme court
10:02
um you know as to you know the legality
10:04
of that uh cdc declaration
10:06
but for right now a lot of the local um
10:09
you know
10:09
eviction courts are staying dormant or
10:12
they’re only taking
10:13
the worst of the worst right and they’re
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pretty much saying if you really do have
10:16
a cdc declaration we ain’t doing
10:17
anything here
10:19
so justice settles uh what would you
10:20
think uh is the right rolling on the cdc
10:22
declaration oh i don’t want to get into
10:23
politics right you know i mean
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i look at it from both sides there’s
10:27
there’s there should be a happy medium
10:28
right and i think
10:29
in a lot of ways you know they should be
10:32
they should be taking care of
10:34
you know the people that are truly
10:36
affected i get it right but we should be
10:38
more involved as landlords in that
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process
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and that and that legislation and not
10:44
look at us as the bad part of this
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transaction right
10:47
we all have families that we need to
10:48
take care of we have employees that we
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employ at the properties
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you know we’re not trying to create a a
10:53
slumlord type situation right
10:55
so if we don’t have any money that that
10:56
gets put into these properties right
10:58
what do you think is going to happen to
10:59
these people’s housing
11:00
it’s going to go downhill doesn’t want
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to get into the politics by giving a
11:03
very political
11:03
neutral that was a very neutral and okay
11:06
i should have been a politician right
11:07
maybe a lawyer i don’t know
11:08
but um you know so that’s that’s i think
11:11
there’s a happy medium
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we haven’t reached the happy medium let
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me just put it that way right and people
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can make a determination on
11:17
which way i think we’re actually at in
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the market right now so
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what’s the latest in cap rates we talked
11:22
about this a little bit about that i
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mean man
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everything across the border sings in
11:26
like low you know basically
11:28
fours to fives yeah there’s no such
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thing as a six cap whether you’re
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secondary tertiary i mean i really
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maybe touch your a c class properties
11:35
right yeah something let’s get some real
11:36
hair off we’re seeing you know and
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honestly c class properties with value
11:39
add are going for three caps right three
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and a half three and three quarters
11:42
it’s kind of crazy so you know pick your
11:44
pick pick your deals very carefully
11:46
yeah you know i mean and you know i
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think that you have to realize that
11:50
the re some of the reason why is we go
11:52
back to the earlier statement right
11:54
debt is cheap equity is all over the
11:56
place so that’s going to drive demand
11:58
demand is going to drive cap rates down
12:00
pricing up this is just how this works
12:02
right you know there’s a big supply and
12:04
demand people need to
12:05
understand how economics works right to
12:07
really get the reason why cap rates and
12:09
you know valuations are where they are
12:12
right but yeah don’t
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if you’re getting into the market right
12:15
and you’re thinking you’re going to go
12:16
buy a six seven eight cap
12:18
good luck right it’s just not going to
12:19
happen and so you need to kind of you
12:21
need to be real
12:22
you find an acap come talk to me and
12:23
i’ll pay you seven cap for it
12:25
all right there you go so with that said
12:27
monday mondays we do this every monday
12:29
at 3 30 central
12:30
usually we kind of spend the first 20
12:31
minutes talking about different topics
12:32
today we’re talking about the
12:33
multi-family market update
12:35
if you have comments questions go ahead
12:36
and leave it and we’ll basically do q a
12:37
at the last 10 minutes and so
12:39
with that said before we continue back
12:40
let’s see a few comments questions
12:42
john montero our buddy says insurance
12:45
premiums are more of an issue on older
12:46
properties too
12:48
absolutely right right with newer assets
12:50
insurance is cheaper so you get other
12:51
natural things that come with it
12:53
yeah so definitely something to check
12:54
out um
12:56
egyptian gun says but it’ll start as
12:57
amigos what’s up how’s it going hey
12:59
buddy
13:00
uh rod says hello hello everyone hey
13:02
amanda larson says if interest rates go
13:04
up
13:04
would you expect cap rates to be pushed
13:06
back up as well that
13:08
is a fantastic question and i i think
13:11
about that often right
13:12
so if interest rates go up you know
13:15
naturally
13:15
cap rates is interest rates are a
13:18
leading indicator to cap rates
13:19
interest rates go up cap rates go up but
13:23
you also have inflation a big bud but no
13:25
no but you have inflation is the other
13:26
piece to kind of really think about
13:28
right and so now it gets kind of weird
13:30
because inflation is a leading indicator
13:32
to interest rates going up which is a
13:34
leading indicator
13:35
to cap rates but with inflation right
13:37
your properties generate more money
13:39
right and so while cap rates may
13:41
compress your valuation may not have
13:42
actually gone down
13:43
all right sorry while carpets may go up
13:45
your valuation may not have gone
13:47
because you’ve generated more money from
13:48
that property right and so it depends on
13:50
kind of how you look at it so
13:52
is it that my i’m getting inflation
13:53
therefore my costs have gone up my
13:56
insurance my taxes
13:58
or is it just my income has gone up so
13:59
therefore i’m actually making more cash
14:01
flow
14:02
which is offsetting the compression
14:03
right i don’t know what the right answer
14:05
is i think about that often
14:06
john montero is our friend that’s the
14:08
economics major right you know maybe you
14:09
could chime in here a little bit too
14:10
buddy but
14:11
you know i mean that was a great
14:12
question and i think
14:14
i think that there’s another component
14:16
that needs to be uh kind of
14:17
brought into the equation and that’s
14:19
demand yep you know
14:21
there is so much demand for multi-family
14:24
way more than was 12 months ago right
14:26
because i go back to my earlier
14:27
statement where you have
14:28
hospitality guys and gals you have
14:30
people from retail from office
14:32
from some of these other asset classes
14:33
just got annihilated during covid
14:35
they still have capital to deploy so
14:37
they’re going into multi-family so
14:39
that’s
14:39
essentially skewing them no there are
14:41
people that are looking down for much
14:43
less return right so maybe
14:45
five years ago people would not get into
14:46
an apartment if it wasn’t going to
14:48
generate 10
14:48
cash in cash right nowadays there’s some
14:50
groups they’re looking for four percent
14:52
cash on cash
14:53
so their spread right is six percent
14:56
less than they can do so even if
14:57
interest rates went up six percent
14:59
difference
14:59
they’re still where they were five years
15:01
right i mean so i agree with that point
15:03
too right there
15:04
and i think ultimately with the amount
15:05
of money that get pumped into the
15:06
economy
15:07
i’m a big believer that money is going
15:08
to trickle up and it’s going to look for
15:10
investments down
15:11
yeah and i think the other thing too
15:13
right you know
15:14
not only the equity piece but you know
15:16
and john agrees demand will override
15:17
slight changes in interest rates
15:19
yeah and i go back to i’m not i’m not in
15:22
a
15:22
i’m not a believer that interest rates
15:23
are going to go up anytime soon no it
15:25
might trickle up a little bit
15:27
right but what’s ended up happening is
15:29
that the bridge markets kind of came in
15:31
too
15:31
right and they’ve helped you know where
15:34
fannie and freddie started kind of
15:35
pulling back a little bit
15:36
you know who knows why maybe because
15:38
they thought that they were the only
15:39
game in town or maybe because
15:41
you know they were a little bit
15:42
squeamish about where the economy was
15:44
going
15:44
but bridge came in right on top of them
15:47
and they’ve kept their coupons pretty
15:48
low too
15:49
right so interest rates you know where
15:52
on average
15:52
you know people are thinking oh well
15:54
fannie and freddie are traditionally
15:55
lower
15:56
you know in terms of their interest
15:57
rates than a bridge debt was
15:59
traditionally that was how it was now
16:00
not necessarily this they’re pretty much
16:02
the same
16:03
right you could get a three and a half
16:04
coupon from a bridge lender right now
16:06
you know whereas maybe you’re right
16:08
there maybe leaving a little bit higher
16:09
with a fannie or freddie long
16:11
so something to kind of keep in mind too
16:12
right you know people are
16:14
are clamoring for that business so
16:16
they’re keeping interest rates low too
16:17
right uh i know there’s a lot of other
16:19
metrics and you know but at the end of
16:21
the day
16:22
um i don’t see them going up so what
16:25
markets do you see rising
16:27
i’d say which markets do we not
16:29
surprising is probably the question here
16:30
i mean i think
16:31
houston you know all eyes on houston all
16:33
eyes on texas first of all
16:35
all the markets in texas are on fire
16:37
right i mean there are
16:38
so much demand so much interest right
16:40
but even houston you know which has kind
16:41
of been in the back seat the past couple
16:43
years
16:44
starting to see a lot more activity in
16:45
houston right i mean it is the number
16:47
one job growth city so if you’re
16:48
interested in houston wait about a year
16:49
till we buy what we can
16:51
then we’re happy to kind of have that
16:52
conversation um but you know ultimately
16:55
i mean there’s a lot
16:56
of interest in texas no there is all the
16:58
markets are in texas
16:59
and georgia and florida you know i mean
17:02
and then you could you could go
17:03
obviously the carolinas and you could go
17:04
out to arizona right those markets are
17:06
probably the hottest ones right now
17:09
um you know and i would say that i don’t
17:11
see those going
17:12
down at all if anything they’re going to
17:14
continue to rise
17:16
right whereas some of the markets that
17:17
might be a little bit more depressed are
17:19
ones that
17:20
are you know pretty much common sense
17:21
right on the coast you know new york
17:24
la you know um san francisco
17:27
not to say that those won’t bounce back
17:29
they obviously have good you know
17:30
long-term you know projections there but
17:33
for the time being
17:34
uh there’s probably some short-term pain
17:36
for those landlords and a lot of them
17:37
are looking to deploy capital
17:38
into other parts of the country too so
17:40
not only are you having to compete with
17:42
the hotel people that are getting into
17:43
multi-family or also having to compete
17:44
to people
17:45
that would have maybe traditionally kept
17:46
all their money in new york which is
17:48
what we’re seeing in atlanta
17:49
now all the new york money is coming
17:51
down to atlanta into florida
17:53
so you have just this once again
17:54
increase in demand that you’re having to
17:56
keep up with and that’s also
17:57
all ships rise with tide that’s that’s
18:01
increasing valuations in those markets
18:03
right so
18:05
where do you see the multi-family market
18:07
going
18:08
i think it’s strong for at least the
18:10
next five to ten years
18:12
we have an affordability problem in this
18:14
country and i think that
18:16
um you know they’re not building class c
18:19
or class b properties anymore everybody
18:21
that’s building
18:22
you know class a for the most part now
18:24
we’ve we’ve you know gotten lucky with
18:26
some of the partnerships that we’ve done
18:27
where we’ve caught
18:28
kept costs low um so we can have some
18:30
affordable revenue for the most part
18:32
you’re getting a class a plus that’s 2
18:34
000 developing is getting more expensive
18:36
and so
18:36
now if a class build that brand new is
18:38
going to cost you
18:39
180 a foot yeah well now paying you know
18:43
for that c property that you might have
18:44
paid 120 a foot yep paying that 130 140
18:47
sounds a lot more attractive right it’s
18:49
cr by cost going up you’re increasing
18:51
that spread
18:52
and so this this thing is going to
18:53
rubber band over this way so yeah so you
18:55
know i mean
18:56
ultimately i think you know there’s
18:57
going to still be some opportunities for
18:59
quite some time you know and and i i
19:02
maybe even into the future i think
19:03
there’s
19:03
there’s a lot of renters by um you know
19:06
by preference these days
19:07
you know people that we’re just going to
19:09
traditionally always rent and i think
19:11
that’s going to be ongoing and then
19:12
there’s going to be people that are
19:13
getting priced out of a single-family
19:14
market
19:15
um because either a their credit’s not
19:17
there or b they’re just getting priced
19:19
out in general they maybe even have the
19:20
down payment or they have the credit but
19:22
they just can’t afford the houses
19:23
so you’re they’re once again going to
19:25
fall back to renting an apartment
19:27
and you know on top of all the other
19:29
things that we’ve talked about over the
19:30
years right you know
19:31
uh boomers are you know downsizing and
19:34
you know kids coming out of college are
19:36
waiting longer to get into houses right
19:38
so all of that continues
19:40
um you know now it’s just a matter of
19:41
where is the multi-family right and what
19:43
type of style of multi-family
19:45
is going to be big in the future but i
19:48
think multi-family as a whole
19:50
is going to be on fire all right great i
19:52
know so let’s see so monday mondays are
19:54
this every monday 3
19:55
30 central we are talking about
19:57
multi-family market updates so if you
19:58
have comments questions go ahead and
20:00
leave it you just spend the first 20
20:01
minutes presenting then 10 minutes q a
20:03
this is cool we’re in that q a section
20:05
so going through a few more of the
20:06
comments john says also search from
20:08
interest rates have not moved up
20:09
not at all go if you have not if you all
20:11
don’t know what the sofa is
20:13
you have not looked at it go look at it
20:14
because it’s pretty much zero right
20:16
so um you know that’s what floating
20:19
rates are based on so uh
20:20
new floating reservations that’s and
20:22
that’s why freddie floaters are so
20:24
attractive right demand our most recent
20:25
deals are floater and we are excited
20:27
about it yeah i mean our all-in coupon
20:29
is what two point eight
20:30
yeah i mean i think that’s point eight
20:32
seven yeah oh sorry sorry uh
20:34
so definitely you know uh be aware of
20:36
that sorry i totally agree john
20:38
brandon gordon says monday mondays are
20:39
always lit thank you
20:41
appreciate that you know and if you guys
20:43
want like once again if you guys want to
20:44
hear about something
20:45
you want us to talk about a topic let us
20:47
know we’re
20:48
open to that we’ll talk about anything
20:49
does not have to be about what we
20:50
presented today no absolutely not
20:52
yeah and that goes for questions too
20:54
just go ahead and you know lob them in
20:55
there
20:56
let us know we’ll kind of go from there
20:58
otherwise
20:59
let’s keep going i’m going to
21:00
shamelessly plug a few things
21:02
let’s do it right wait wait we got one
21:05
as a new investor to multi-family this
21:07
demand
21:08
means it’s so prudent to vet operators
21:10
totally agree absolutely
21:11
know who you’re investing with
21:13
understand their track record
21:14
what they’re doing are they transparent
21:16
or not yes that’s the truth of it
21:17
and that goes for any investment you
21:19
ever invest in really don’t just lob
21:21
your money into some random thing
21:22
no i’m great you know i’m a big
21:24
proponent of you’re betting on the
21:26
jockey not the horse right so
21:27
you know who’s going to be the most
21:29
successful in the next 10 years is going
21:30
to be the operator right
21:31
you know i think people are going to
21:32
stumble into some appreciation maybe
21:34
stumble into some plays
21:36
but you have to have the right operator
21:38
and teams there
21:39
to be able to you know be successful so
21:43
all right moving along here um
21:46
sorry my phone is going off i can’t
21:48
believe that that would actually
21:49
override
21:50
what we’re doing here but anyway i’m
21:52
getting off track so i’m going to
21:54
shamelessly plug our youtube channel
21:56
because i want you guys to subscribe
21:58
this is where we’re going to have all of
22:00
these types of programs including a lot
22:02
more all of our webinars everything that
22:04
we’ve got going on
22:05
so check us out www.youtube.com
22:09
c disrupt equity
22:13
um you know we’re going to have our next
22:14
texas multi-family master’s meetup which
22:16
we just had last week
22:18
where anton matli shares a ton of good
22:20
data points
22:21
right on the economy does a great job of
22:22
kind of articulating that
22:24
we’ve got those types of things on there
22:26
as well as these as well as other shows
22:28
and content that we’re putting out there
22:29
it’s all gonna be on our youtube channel
22:31
so please check us out there
22:33
um infant i wouldn’t get through money
22:35
monday without talking about it because
22:36
we’re getting close to
22:37
selling out here so i want people to get
22:39
their tickets right july 24th
22:41
miami florida come on who doesn’t want
22:42
to go to miami and just absolutely so
22:44
definitely go check it out we’ve got a
22:46
lot of interest should be a really good
22:47
show
22:47
yeah so get your 100 off coupon by
22:49
putting in disrupt in the coupon code at
22:52
checkout
22:53
a lot of great speakers we’re still
22:55
lining up the panelists
22:56
you know but rest assured anybody that’s
22:58
been there knows that we’re gonna put on
22:59
a good show
23:00
and a nice place and ultimately it’s all
23:02
about the relationships that you’re that
23:03
you’re gonna get from going to these
23:05
types of events
23:05
let’s get back out there folks right
23:07
it’s it’s been a long 12 months
23:09
due to coven we’re starting to show some
23:11
or do some events
23:12
and this is how the you know the half
23:14
the relationships are made is through
23:16
the networking that goes along with
23:17
these right
23:17
so mfinvestornetwork.com check it out
23:20
there what are we talking about next
23:22
week man
23:23
how and where to invest as a young
23:25
investor that is just starting out okay
23:27
okay so if you’re old please don’t
23:29
participate on no i’m kidding you are
23:30
all welcome
23:31
young does not mean age it means new as
23:33
maybe a better way to book it
23:34
so definitely come check it out yeah no
23:36
definitely we’re gonna
23:37
you know some strategies that maybe you
23:39
can get yourself into a deal right even
23:41
if you’re young or or new
23:43
right you know i’m fine we’re gonna go
23:44
through everything right you know how do
23:46
you start off because you know i think
23:47
it’s the most important thing to
23:48
understand
23:49
early on and i wish everybody that looks
23:52
back on their career says i wish i would
23:53
have started earlier i wish i would have
23:54
bought more
23:55
totally agreed yeah so let’s see so
23:56
going through a few last comments
23:58
questions monday monday we do this every
23:59
monday 3 30 central
24:01
uh trevor says looking forward to miami
24:02
look forward to seeing you there as well
24:04
sir thank you and then john montero
24:06
again says supply housing
24:07
versus demand population growth and
24:09
balance absolutely right there’s just
24:11
cost is going up plus populations are
24:13
still growing especially
24:14
in texas right that’s just going to
24:16
actually lead to appreciation right and
24:18
while we’re not really appreciation
24:20
investors right it’s always nice
24:22
to get that gravy on the deal i’ll take
24:25
the icing on the cake
24:26
my friend absolutely so so with that
24:28
said
24:29
money mondays monday 3 30 central we’re
24:31
gonna wrap it up if anyone has any more
24:33
comments questions
24:34
speak now or forever hold your piece so
24:36
what are we talking about next week one
24:37
more time
24:38
how and where to invest as a young
24:40
investor just starting out
24:42
all right thank you all and

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