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 […]
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 […]
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 […]
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.
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 […]
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 […]
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 […]
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 […]
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 […]
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There is a lot of confusion as to how to evaluate the physical and economic condition of an apartment building or community. This will be short, but I think you’ll be able to visualize things more clearly. Due Diligence – What is it? Due diligence defined is very simply the process of validating the physical […]
HAHAHAHA Listen, if you belong to that very strange yet very large group of people we refer to as the Millenials, you will either laugh your rear off and learn a whole bunch form this, or you will learn nothing and hate me forever. Either way – you get the real deal! Ben and Dan […]
Guys, I’ve been fortunate to appear on a lot of different podcasts over the years. All, hopefully, are educational to some extent. Some are quite entertaining. Few are truly in-depth. But, almost none are truly honest to the core… This is understandable. Everyone is selling something, and as a result, no one wants to offend anyone […]
Phoenix Syndication Workshop If you follow me you probably already know about this. But just in case: On January 26th and 27th my partner, Sam Grooms, and I will hold a 2-day event in Phoenix called the Phoenix Syndication Workshop. I am SUPER excited about this for a number of reasons: We Will Shorten Your Learning Curve […]
