EPS 276 - Rule #1: Protect your Limited Partners First

If you are going to be a syndicator for the next decade or two; you must protect and communicate to your limited partners. We are in turbulent times in multifamily. Many promised distributions have not been made to investors, interest rates have skyrocketed after the loan documents were signed, interest rate caps have gone up in cost over 40 times, and rental growth is stagnant. What is the general partner to do? We discuss three challenges that Lane Beene and his team at Pilot Legacy Group are faced with. Listen to how they protected their limited partner investors when REAL DOLLARS are at risk. Watch their monthly video on getting the message out to their limited partners.
To contact Lane Beene: lane.beene@pilot-legacy.com
Watch How Lane and his team communicate: https://www.youtube.com/watch?v=uYmZ9walxEM
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 275 - DIDN’T GO TO NMHC this year? What we heard at the MASSIVE 2023 Annual National Multifamily Housing Conference in Las Vegas that WILL make you modify your investing this year.

Over 10,000 real estate professionals came to Las Vegas last week. This is the BIG CONFERENCE for apartment buyers & sellers, lenders, equity providers, new apartment builders, commercial Realtors and lots of other folks that support the apartment industry. This meeting is not for the brand-new syndicators, this is the next level of apartment investors. We spoke with the major players in this dynamic industry. You want to know what they shared and how it WILL adjust your investing for 2023 and beyond.
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 274 - Meet Mark Allen and Todd Franks with GREA- Dallas. INSIDE SECRETS with top apartment brokers in Texas.

Mark and Todd sell apartments in Texas, Oklahoma, and Arkansas. Their team traded over a $1 BILLION in apartments in 2022. Wow! Listen to how apartment transactions are being structured today. What makes a good buyer? Who is selling & why? Where is the money (debt & equity) coming from? What are cap rates today? Are syndicators still buying? At this valuation level of the apartment market-should you dollar cost average (like stocks) by investing in this market? Also…helpful Ideas to share on why investors continue to invest in apartments.
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 273 - Goodbye 2022; What can you expect in apartment investing in 2023?

“Survive to '25- that’s 2025!” That could be the most important lesson from today’s podcast.
In the beginning of 2022, many apartment investors were geared up to be very aggressive in buying buildings. Low rates, plenty of capital (debt & equity), & great inventory to buy. Then…At the end of the first quarter…. BOOM. The industry slowed down. I mean stopped. Inflation. Higher Interest Rates. Slowing economy. Rising Cap Rates. Less Sellers. Less Buyers. Equity was difficult to raise. Larger down payments were required. A complete 180 from January. WOW!
Today…beginning of 2023; What should you do? Stay invested? Buy more? What are the challenges, and the opportunities investors are faced with today. You need to listen to what industry insiders are saying…it could save or make you money.
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes, if you enjoyed this podcast. We would appreciate that.

EPS 272 - END OF YEAR- LOAN OFFICER ROUNDTABLE: What’s happening out there? What’s getting approved?

Listen to the commercial loan officers at Old Capital examine how the apartment market changed dramatically in 2022. In January, every apartment buyer was ecstatic. Higher leverage debt was readily available, apartment inventory was strong, prices were even higher than 2021 and every LP investor still needed to invest in apartments. In December…NOT SO MUCH. The market did a 180-degree change within 12 months…Boom! Where does that leave us? How are transactions getting done today and what type of financing is available? Should you consider fixed rate bridge debt? Are LP’s still investing?
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes; if you enjoyed this podcast.

EPS 271 - Don’t get on the BAD BOY/GIRL list with FANNIE MAE?

Santa Claus has his famous “naughty list” for bad boys and girls. No toys this year…just coal. Today, Fannie Mae - thru their DUS lenders- have a similar ‘list’ that tracks the bad and good multifamily operators. If you are on this list; called the “A Check” you may have difficulties in getting another loan from Fannie Mae. Why is this important today? Because many apartment operators recently (in the last 24 months) have originated high leveraged, non-recourse bridge loans that were supposed to be sold after the rehab, rents raised and then projected NOI being much higher OR refinanced into a Fannie Mae or Freddie Mac loan. Today… you could have a problem to sell if your NOI didn’t go up significantly or your sponsor didn’t realize that they were on the “A Check” on a previous Fannie transaction that had a problem. Don’t get coal from Fannie Mae. Listen to our conversation with two DUS loan servicers.
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes; if you enjoyed this podcast.

EPS 270 - With INTEREST RATES RISING even HIGHER… Are buyers RETRADING sales contracts, again?

RETRADE 2.0 could be happening now with rising interest rates. Interest rates have risen significantly over the last 6 months. Can you remember what short term rates were in October 2021? SOFR was .05% in October....today its 2.98%. Long term rates, like the 10-year treasury, in October 2021 was 1.47% and now its almost at 4%. Do you think property values have changed? Apartment values that initially changed in May-June 2022; are changing again. Buyers that are under contract today…are considering re-trading to a lower purchase price with the seller because rates have been going up even higher than 90 days ago. Listen to what is happening today.
Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.
Please leave us a 5 - STAR RATING on iTunes; if you enjoyed this podcast.