2nd Generation MB

@chernobelskiy I’m still actively quoting deals at SOFR + 250-300 at 70-75% leverage (everything is DSC constrained these days or lenders would go higher) Send these people my way lol.

Construction loans on mf reaching 12% Lending is the new equity

@nw3 @shawngorham Yeah banks are 6-8% right now. Better than I would’ve guessed.

@shawngorham That seems fairly cheap. Would have presumed 15 to 20 given rates.

I met an investor (in a G wagon of course) yesterday who bought 12 units. He paid $3mm He’s spending what I think is about $750k in rehab Rents will be $1800 he says Seems close to a 5 cap BUT - he’s doing it ALL with HARD MONEY Let’s see how this ends

@jefffeldman Hearing the same from my Lenders. Haven’t heard of anyone pulling back yet. Fielded several calls last week from Lenders looking for deals in fact. Hopefully it stays like this 🤞🏻

More conversations w/ random regional banks that are still lending: - Many feel pretty insulated from the madness - Don’t have the duration risk that others did - Have a steadier deposit base Not necessarily all doom and gloom. Of course, that could change any minute.

@RealLifeRentals DM me on this Kyle. Have some Lenders for you so you don’t run into this again.

I’ll admit it’s gotten easier. My network and track record has grown significantly. And I can speak with a lot more confidence to prospective new lenders - basically dictating terms within reason

4 years ago I had an A+ lender for MF acquisitions/refinance. Then all of a sudden their standards changed and I lost them I found a new lender at the time and have been using them ever since I’m starting to see warning signs again, so I’ve started hitting the phones, again!

@ChrisRamsey60 This is exactly what Lenders want to see when reviewing a Principals financial position. Excellent template to use.

@YonahWeiss Mortgage Banker for the #1 GSE Lender in the country. Finance Multifamily, Industrial, Retail, and Hotels nationwide. Love to chat about all things real estate finance and investing. DM anytime!

I'll start: #WeissAdvice Podcast - SUBSCRIBE & Leave a review 2 new AWESOME episodes this week 🔥 Jenny Bayless & Karl Krauskopf ALSO: If you own a property purchased for over $200K give me a call to lower your income tax by A LOT! Not too late for '22 taxes extension

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@RealLifeRentals Smart move on your part…..if they find someone to buy at that NOI, no way a Lender underwrites anywhere close to it. Left with a 50% loan at best……that likely won’t appraise.

The broker's #'s vs. mine Vacancy: 0% vs. 5% Insurance: $10k vs. $12k Maintenance: $0 vs. $14,429 CapEx: $0 vs. $12,000 PM: $0 vs. 10% NOI: $194k vs. $122k Cap Rate @ List Price: 8% vs. 5.1% Price: $2,425,000 vs. $1,525,000

@JWurzak Great play! Usually have to get approval from your lender to put a cell tower on your property and certainly to lease it, but great piece of additional income if a landlord can make it work.

Bought a cell tower for $275,000 (9.5 cap) 6 months later Sold cell tower for $650,000 (4 cap)

@ChrisRamsey60 Moot if you have any secured debt in place. SPE provisions won’t allow it. Legally speaking smart though.

Never, ever have multiple properties under 1 LLC.

@KenefskyCole This can be closer to $1 Million if you go Agency. Nice way to increase returns and lower equity, but obviously need to know how to fit their “box”.

A solid $5m multifamily deal will require roughly $1.5m of equity. You do not need to have all $1.5m. Lots of operators will commit 10-25% of the total equity. In this case, 10% is $150k. The rest is raised through investors. Plan on additional costs ->

How much money do you need to start buying CRE fulltime? Grant Cardone will tell you zero $ Your boss will say it’s millions $ Here’s the truth:

@scovingtoniii The big deals can be some of the easiest. Some of the smallest require the most grit and ingenuity.

It’s jarring posting about my dinky real estate on #retwit alongside hundred million dollar family offices.

@KenefskyCole Some Debt Funds are offering fixed rate options now as another product offering to combat rising rates.

Live from the markets today: Debt Funds - Spreads are widening. Current pricing is in the high 300s over 1m SOFR, which puts rates in the mid to high 4s with the expectation of increases in the coming months correlated to the Fed announcements...