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 […]
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 […]
New Podcast – An Honest and In-depth Conversation
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 […]
Most Important Concept in Real Estate
Multifamily Loan Options for Syndications
There are only three, globally-speaking, options for the type of loan we can get for multifamily. The main distinction comes down to the state and condition of the property itself. Let’s discuss. Portfolio Loan Portfolio loans are loans you can get from a local community bank. These banks are small banks with several locations that serve specific […]
What Are the Economic Losses in Apartment Investing
As it relates to things that cost money on a monthly and annualized basis in apartment investing there are two categories of items – those that you stroke a check for every month or year, and those that you don’t. The “stroke a check” category is easy to understand. The money was in your account, […]
Why Should I Syndicate Apartments in 2018?
As you likely know from my recent announcement, Source Capital in JV with WhiteHaven Capital recently acquired the Silver Tree Apartments – a 98-unit apartment community in Phoenix MSA. A blog is not the best or most proper venue for discussing the details on a project of this magnitude. On one hand, there are […]
$8.15M Acquisition Closed!
Ladies and Gents, I am very excited to announce that we just closed on The Silver Tree, a 98-unit value add in Phoenix MSA. This was an $8.15M acquisition, requiring a $1.3M renovation. The asset was constructed in 1984, with a great unit mix of Studio, 1×1, 2×1, and 2×2. This was a private placement with […]
Multifamily Underwriting and Personal Growth
I am super excited to tell my story today. I am very proud of the story I’m about to tell you, and I think there are meaningful lessons to be had here for all of us. What I’ve Been Up To I’ve been a little silent as of late. I am sure you noticed. The […]
Creative Financing of Real Estate
Well, it’s that time again. Perhaps it’s because I write a lot, or may be it’s cause I’m so good-looking, but I do get asked to participate in investment podcast with some regularity. One thing is for sure, though – it ain’t cause I’m smart… Joe Fairless is a fellow investor and syndicator. He is […]
Make Money Doing What You Love!
Introduction Make money doing what you love – that’s the age old advice. But, how do we really achieve this? Indeed, all of us need money to live on, but most of us would rather not to hate our jobs and be bound by them solely for the sake of income. At the outset […]
Is Real Estate Crowdfunding Right for You
Introduction There are few guarantees in this life, aside for death a taxes. One other irrevocable truth is that it takes money to buy Real Estate, which makes Real Estate Investing a cash-intensive sport indeed. Now, if you know anything at all about me, you know that I am of the opinion that while buying […]