A black swan is an event that is so far outside of the norm that it cannot be reasonably anticipated by markets and investors. I think it’s fair to characterize the COVID-19 pandemic as such an event. I have my thoughts on what the outcomes may be, but I need more data on the ground […]
Multifamily Syndication Unscripted Podcast, Season 2
I am happy to announce that the second season of Multifamily Syndication Unscripted podcast is out! Sam, Scott, and I have been trying for months to get the second season together, but time has been at a deficit. So happy to finally come back with what we hope will be some educational and entertaining content […]
Why I Like Highly Competitive Market
This article first appeared on BiggerPockets.com on 11/17/2019 Do you hear yelling? The market is too hot. Oh, no! We are at the top. Oh, no! It’s a bubble. Too late to buy. It’s a bubble. Oh, nooooo! Best to wait for the crash… A few years ago these same voices were yelling: There is no money. […]
New Podcast with Chad Duval
Chad Duval is a real estate investor. He’s been in the game for six years and has recently launched a podcast for newer investors. I enjoyed this episode, and I think you will as well. I was honest with Chad and his audience. Please enjoy! CLICK HERE to LISTEN
3 Advantages of Low Cap Rate Markets (and why I buy in Phoenix)
The equity stack for our next purchase is over-subscribed. I can take a minute to collect my thoughts. This will be short and to the point, but hopefully, you’ll get value! Three Advantages of Low Cap Rate Markets The Cap rates are compressed all across the country, as you know, as they have been. When […]
Why We Are Excited About Downtown Mesa
I did not mention in the article that came out yesterday, but this next acquisition will be a 94-unit community in Mesa, AZ. Which, for a lack of a better way to put it, is about to blow the hell up! Sun Crest Is Special Historically, our basic approach to value-add investing has been to […]
Why We Are Buying 4th Apartment Community
This has been an insane year so far…and that may very well be an understatement. Sam and I bought three apartment communities in 12 months, and we will be closing on another one soon. I’ve been very busy, and this has manifested in many ways, one of which has been lack of new articles on […]
Is Multifamily a Cash Flow Play?
So, ever since we published this episode, I am getting a lot of comments on both sides of this argument. And let’s just say – not everyone agrees with my conclusions. I’d love for you to take a listen, and let’s have a discussion. Tell me your thoughts below.
How to Remodel Apartment Units – Example?
Guys, people always ask about apartment renovations. Here are some images of the first unit we completed at South Mountain Square: And here the Matterport What do you guys think?
Understanding the Cap Rate
Likely the single most misunderstood concept in all of real estate investing is the Capitalization Rate. So, what is it really, and how do we use it? It’s a Formula Yes, it is a formula: Cap Rate = NOI / Valuation However, while this is the mathematical formula, if you simply focus on the numbers […]
Multifamily Syndication Unscripted Show is LIVE!
Guys, over the years I’ve appeared in countless podcasts. I enjoy teaching, and I’ve always felt that this is a fantastic medium to deliver a message. I’ve many times wondered whether I should have my own podcast, but never had the time, or, frankly, the gumption… Until now! I guess I am not nearly as […]
$20 Million of Real Estate in Six Months
Well, that’s not exactly the whole truth. About $20M was what we paid. The re-positioned stabilized valuation should be $30M+. Introduction I started like many of you – with a diagnosis of Multiple Sclerosis… Well, perhaps not that. Hopefully not that. Most people look to real estate because they don’t want to work for the […]
Another Syndication Closed – South Mountain Square
Source Capital is excited to announce the acquisition of South Mountain Square Apartments, a 117-unit garden style apartment community. About the Location The South Mountain Square neighborhood is in the South of Phoenix, the 2nd fastest growing city in the country. Phoenix is home to 5 million people, and Maricopa County is the #1 growth […]
Stay in My Casita…for FREE!
Well, there’s “FREE” in the title. You must be excited…you just wait! If you pay attention to the content I put out, you must be aware that Phoenix Syndication Workshop is happening on January 26th & 27th. Please take a look at this page to find out the details (if you’ve been living under a […]
Podcast: Ben Leybovich and Sam Grooms…AWESOME!
Sam and I recorded this podcast with Todd Dexheimer of Venture a few weeks back. I have to say, this was good! Todd a very knowledgeable real estate guy, so he asked the right things. But more than that, Todd is a human being who’s been around the block, so some of the questions were very […]