Eric P. Oden

I like my coffee black and my UYOC cell green.

@bethanyjbabcock @realEstateTrent No answers yet.

@OdenEric @realEstateTrent This has been my recent experience any ideas?

We just started using Facebook ads and it’s creating a ton of tenant leads. Would love to be sure we’re doing things right and spending efficiently. Anyone Facebook Ad experts out there I can hop on a call with? 🙏

@ReidBennettCCIM "Stab-lok" was the only one on my radar. This is an absolute need-to-know post. 💯

⚠️ Before You List or Buy a Multifamily Property… Check the Electrical Panels. This has become a huge topic in transactions lately, especially as insurance rates continue to rise and carriers tighten underwriting standards. I’m seeing deals get delayed, repriced, and sometimes killed because of something hiding in a utility closet: ⚡ Outdated electrical panels. If you’re a seller preparing to list or a buyer underwriting a deal, you need to know if the property has any of these panels before you go to market or submit an offer. Here are the biggest red flags: 🚨 Federal Pacific (FPE) – “Stab-Lok” Panels ⚠️ Known for breakers that fail to trip during overloads 🔥 Documented fire risk 💰 Insurance carriers frequently require full replacement 🚨 Zinsco / Sylvania-Zinsco Panels ⚠️ Aluminum bus bars corrode over time 🔥 Breakers can fuse to the bus bar 💰 Often flagged immediately by inspectors and insurers 🚨 Challenger Panels (Older Models) ⚠️ Some breakers were recalled 🔥 Known overheating issues 💰 Replacement frequently required by lenders or insurers 🚨 Pushmatic / Bulldog Panels ⚠️ No main breaker in many models 🔥 Breakers become stiff or fail to trip 💰 Parts are difficult to source 🚨 Older ITE Panels (Pre-Siemens) ⚠️ Obsolete breakers and components 💰 Often require upgrades during renovations or refinancing ⚠️ Why this matters today 📈 Insurance carriers are scrutinizing electrical systems more than ever 🏦 Lenders are increasingly requiring replacements before closing 💰 Replacement costs can run $1,500–$3,000 per unit (or more) ⚠️ For Sellers ❗ Check the panels before listing ❗ Price the replacement into your expectations ❗ Avoid surprises during buyer inspections ⚠️ For Buyers ❗ Ask for panel photos during early diligence ❗ Confirm with your insurance broker ❗ Underwrite the potential CapEx before submitting the offer ⚠️ In today’s market, electrical panels are no longer a minor inspection item. They can quickly become a six-figure capital item that impacts financing, insurance, and closing timelines. 👉 Due diligence starts with the panel. #Multifamily #CRE #RealEstateInvesting #MultifamilyInvesting #DueDiligence #CommercialRealEstate #ApartmentInvesting

Schrödinger's Commute. Where you are not late but you are late.

@BlueCollarInvr Sounds like the right call with this one. Here’s something to consider, my first go-to counter has always been the price doesn’t change but I’m willing to throw in more services . It keeps the revenue high and the other side gets more bang for their buck.

A customer just called me. I got underbid by $1000 on a job. He sent me the actual quote via email. Customer: Hey man look I know you can’t come down the full $1000 but I want to do business with you. Can you come down any? I try not to negotiate on my price anymore. But this is going to be a pretty easy job and the customer seemed pretty cool. We met in the middle and I came down $500. My advice to customers is if you want a better deal don’t be afraid to ask but don’t be upset if a business owner is firm on their prices. One day I may get to the point that I don’t negotiate at all. I’m still a very new business and frankly my pricing isn’t always dialed in. I’m not going to beat everyone’s pricing because I’m not trying to give minimum price quality but I can occasionally be flexible if the customer is nice and seems like a quality person.

$400-$800 potential increase to resi closing costs starting 3/1/26.

@ReidBennettCCIM Buy off-market, sell on-market.

🐅 When Tigers Smell Young Blood in the Water… Every week I see it. A smaller “mom & pop” owner decides to sell their multifamily property on their own. ❌ No broker. ❌ No competitive process. ❌ No real underwriting pushback. ❌ No exposure to the full buyer pool. And suddenly… The Tigers start circling. 🐅 The big multifamily buyers, the funds, the syndicators, the 1031 operators with dry powder ... they love an off-market, unrepresented seller. Why? Because when there’s no broker: ❌ There’s no bidding war. ❌ There’s no structured call-for-offers. ❌ There’s no aggressive positioning of upside. ❌ There’s no one reframing the story. ❌ There’s no one protecting pricing. It becomes a kitten walking into a jungle. 🐱 Now let me be clear, the Tigers aren’t bad guys. They’re just playing the game well. 🐯 They have acquisition teams. 🐯 They have analysts. 🐯 They have capital lined up. 🐯 They move fast. 🐯 They negotiate hard. If you’re a seller without representation, you’re negotiating against professionals who buy assets every single week. You might sell… But the real question is: 👉 Did you sell at the highest price the market would have paid? 👉 Or did you just sell at the highest price one Tiger was willing to offer? There’s a difference. A competitive process doesn’t just create offers. ✅ It creates leverage. ✅ And leverage changes everything. Before you put your multifamily asset “quietly” on the market, ask yourself: ❓ Are you walking into the jungle alone? ❓ Or are you bringing someone who knows how to run the hunt?

@AdamHKlein Lots of gross in C-class and that’s a hard class to teach NNN.

There’s a bunch of groups whose sole business plan is to buy properties and turn the leases from gross to net leases. Simple, yet difficult

I❤️NY

@BarryRoland19 And then… Gate check’d

Your international flight takes off in a few hours. You’ve diligently packed as little as possible: just enough boxers and socks, one pair of pants, some shirts, toiletries, and no extra shoes. You’ve sacrificed, sure, but you’ll be rewarded by only having a carry-on. “Hell ya,” you think to yourself. “This is how you travel.” “Oh great! That’s all you’re taking? Can you carry my luggage then?” your wife asks you.

@RussellLowery10 Family trauma brings it to bear on children, too. I’ve seen family homes where grandmothers have them swear not to sell. They fought too hard to get it. Becomes a burdensome, lopsided pie of responsibility. And/or one child holds on like it’s her pearls and can’t bear it gone.

@OdenEric I think very few people mean it literally. There are people with a build/fix and sell business model and others with longer hold periods. ...and there are idiots who heard a snippet and treat it like it is some iron law of the universe!

“Never sell the property” is a strong feeling, but a weak argument.

@Glynnfleet Reminded me of Army days of having our name & rank on the windshield.

18 months. That's how long it took a tech to destroy a $55,000 van. Paint chipped, interior scratched up, upfit damaged, wrap peeling because nobody washed it. The owner is stuck with it for another 30 months on the lease. This is an extreme example, but I've definitely seen this before. How do you get your employees to care about your assets as much as you do? Some tips: 1. Assign vehicles to specific techs "This is your van" creates accountability. 2. Tie condition to performance reviews Do monthly inspections. If it matters to their evaluation, they'll care. 3. Show them the cost "That dent cost $1,200 to fix." Showing them the consequences of their actions can change behavior. 4. Charge for damage beyond normal wear This is harsh. But it might be necessary if you keep having issues. You can't force people to care. But you can create incentives that make caring worth it.

@REExchangor @andyantiles_ S8/C-class always underwrite 50% OpEx regardless of what broker wrote in pro forma.

Careful. Your expenses will end up being about 50% of your rents overtime. Taxes Insurance Repairs Prop Management Vacancy Cap Ex Evictions Advertising Lawn care Utilities Cleaning Bookkeeping Tax Preparation Unless your debt service is half of your rents, you won’t truly have a positive cash flow.

Just paid my sourcing time to find me another 10 section 8 homes to close on in the next 60 days Maybe get a 4-8 unit multi family And some single family I’ll trade ~$300k of my cash today to get paid ~$50k/year for life Solid trade

@GenZMultifamily @multifam_mike NOTE: I have an AMEX on file with my pro account, I'm not using an HD charge acct.

Any person I send gives the cashier the number on our pro account to text for approval. I'll receive a text with a total, and if it looks right, I hit the "1", and it approves the transaction and emails an invoice/receipt. If it doesn't look quite right, I can select see the purchase before approving. This ensures it's only the material for my job, not Monster drinks, tools, etc. So, no one has to have a card, and I can approve purchases very easily.

A part of self managing that isn't talking about much is accounting. When I buy, I do entity transfers. So a new LLC every purchase. New bank accounts, new cards, new email. Everything separate. Here are 3 simple things I do to stay organized: 1. Keep the money organized All accounts are at one bank. I use US Bank. Each LLC has: An operating account A security deposit account Its own credit card Almost every transaction goes on that card. Simple system and free first class flights to Italy 2. One email per LLC This takes 10 minutes and saves a ton of time Emailed receipts, rent payments, utility bills, invoices all go there. Each email has dedicated folders: “bills and receipts” “Rent payments” When I get a new vendor, I set it to auto send to the correct folder for future invoices. Probably common knowledge in Corporate America, unfortunately I never made it that far. 3. Don’t get behind I update my books and pay the credit card balance twice a month on the weekends I have 17 units, not 500. It's maybe 1-2 hours a month. Getting behind won’t kill me, but staying current makes things easier. Plus, it’s kind of fun. For now at least. This is probably basic stuff to people who have been doing this for a while. But I was very unorganized early on, and these have made a huge difference.

@Jeffdeehan During lease up, it’s how many applications we are receiving. Tells us whether to fix the marketing, staff, or the rent.

real estate owners, investors, pm companies: what’s your most important kpi set for your property management team to track?

@GenZMultifamily @multifam_mike You could use Home Depot Text2Confirm and any subcontractor could pick up materials. I tell them to give me a heads up when they are close to going to checkout so I can look for the text.

@multifam_mike That’s sweet. When I get to a point where it makes sense I’m definitely doing to do that. Would be so much easier if my person had a card just don’t have enough work for them yet.

@resetbasis The Son was so good, I took notes.

Books I’ve enjoyed lately The Son East of Eden A Gentleman in Moscow High-Risers Man’s Search for Meaning News of the World American Rust The Sport of Kings Pachinko up next, would love other recommendations

@thesharpiesharp @ChrisRamsey60 Short term flips are considered ordinary income.

@ChrisRamsey60 I thought there was a tax loophole that allowed you to delay paying cap gains, if you reinvested the cash into another property deal

Two real estate investors. Same start. Very different outcomes. Guy A flips Buys a property for $500k Sells it for $650k $150k profit Pays ~30% in taxes Keeps ~$105k But now he has to find the next deal. Income resets to zero every time. Guy B holds Buys a $500k property Puts $100k down Cash flows $2,500 per month Year 1 $30k cash flow Rents go up Debt goes down Property appreciates He repeats this 10 times. Now he owns 10 properties $25k per month in cash flow $300k per year Still pays taxes but keeps compounding He keeps going. 20 properties $50k per month 30 properties $75k per month 40 properties $100k per month $1,000,000 per year in cash flow Guy A is still flipping Still paying taxes on every win Still working deal to deal Guy B wakes up paid Cash flow Appreciation Debt paydown One works for money forever The other lets real estate work for him