Reid Bennett

@CaseyMericle Reminded me of sellers trying to hit a price for their asset as the market is dropping!

TFW you let OpenClaw take over your Polymarket account

@CaseyMericle 100% I was just explaining this to one of our juniors. Being able to quickly identify motivation, saves hours and days and weeks of time.

@ReidBennettCCIM Being able to spot the difference is leads to more closings, don’t you think?

A listing without motivation is a commission never received

@ChrisJBakke 😂😂😂😂😂

Sure spending $2414/night at the Montage + $351 per lift ticket feels expensive, but it’s all worth it to ski this powder

🏢 2020–2022: The Easiest Time in History to Be a Multifamily Syndicator? Let’s be honest for a second. From 2020 through 2022, the environment for multifamily syndicators was almost impossible to mess up. You had two massive tailwinds at the same time: 📈 Explosive rent growth across the country as rents surged at record levels. According to the Joint Center for Housing Studies at Harvard, rents increased 10%+ year-over-year in 77% of the 150 largest metro markets in early 2022, with many markets in the South posting rent growth of 20% or more. AND 💸 Ridiculously cheap debt: Agency and bridge financing routinely landed in the 2.5%–3.5% range. Put those two together and almost every deal looked like a home run: ➡️ Buy a property ➡️ Push rents with market momentum ➡️ Refinance at higher NOI ➡️ Return investor capital You didn’t have to be a genius operator. You just needed: • decent leverage • rent growth • cheap money But that environment was not normal. Today we’re in a completely different cycle: ⚠️ Higher interest rates ⚠️ Slower rent growth ⚠️ Tighter underwriting ⚠️ Much thinner margins for error The last few years are proving something important: The true operators are the ones who can perform when the wind isn’t at their back. The 2020-2022 era was a phenomenal run. But it also spoiled an entire generation of syndicators. The next cycle will separate: 🏆 Operators from 📊 spreadsheet syndicators So here’s the real question: Did we have a generation of great operators… or Did we have a generation of people who simply got lucky with the easiest multifamily environment in modern history? The next few years will answer that.

@robbiehendricks 100% agree with this post

Talked to young real estate investor in Cincinnati yesterday. Just closed his first deal: Bought a duplex for $170k $30,000 in reno All-in at $200k ARV at $325k Each unit is 4 bed/2 bath Each unit rents at $2100/mo Just a great overall buy. This is exactly how I'd start in real estate if I had to do it again. This is how anyone can learn the basics of managing residents, contractors, and a budget. If you do this, like it, and want to take another step - go buy a 4-unit or an 8-unit. Do it with your own capital. See what managing at a little bit larger scale looks like and feels like. Brick by brick. It may sound slow, but it's smooth. And smooth is fast. This is how you learn the little things that give you an edge in deal-making, property management, and cash management - all without risking the house or other people‘s capital. Trust me: This is a much better way to start a real estate career than attending a "Multifamily Money Machine Mastermind" seminar and attemping to syndicate a 200-unit apartment community for your first deal.

@CaseyMericle The buyer of the 10 cap that you’re getting the $900k from is probably getting a loan for the property, correct? What happens when you find this on LoopNet or if the lender finds it on LoopNet?

No Money Down Here's how to get into commercial real estate without a dime in the deal

🎧 This is what A.I. in commercial real estate sounds like right now… Wah wah wah wah wah… If you’ve been in a room lately where people are talking about AI tools, it can start to feel like the adults in the Peanuts cartoons. Everyone is talking about it. But a lot of it sounds like noise. So the real questions brokers, owners, and investors are asking right now are: 🤖 What is actually useful AI? ⚠️ What tools will be obsolete in 12 months? 📉 Are we already behind? 📈 Or are we early? The truth is, we're in the early innings, and the signal is still buried in the noise. But a few things are becoming clear in CRE: 📊 AI for data analysis - underwriting, rent rolls, market research 📝 AI for marketing - OMs, LinkedIn posts, investor materials 🔎 AI for deal sourcing - identifying properties, owners, trends ⚡ AI for productivity - helping brokers move faster The biggest mistake right now isn't choosing the wrong tool. It's ignoring AI completely while the industry learns how to use it. The brokers, investors, and operators who figure out how to combine AI with real market knowledge will have a massive advantage. Because AI won't replace CRE professionals. But CRE professionals using AI will replace those who don't. Curious what others are seeing right now: 👇 What AI tools are actually useful in commercial real estate today? BTW - PWC nails this ad!

@Stealx Great comparison. Never thought of it that way… As I’m accepting 60 cents on the dollar for one deal I just invested in, I’m grateful it was not zero.

A plumber is owed $4K by a bankrupt property manager. He can haul them into court, examine their records and claw back every suspicious payment made in the last 90 days. You invested $150K in that strip mall through a syndication and can't even get a straight answer on what happened to the reserves. But the sponsor had a great podcast.

@jt_ryder They obviously don’t own investment property!

Someone roasted me on here for cold calling. "Selfish!" "Wasting people's time." I've thought about this for a long time. I can say for sure: He's wrong. Every business that exists today was built on someone making a call, knocking on a door, or walking into a room uninvited with something worth saying (or selling). You are not interrupting people. You are finding them. If you are in business and not actively forming partnerships, you are not in business... you are waiting. The best salespeople don't wait. That is not selfish. That is the oldest and most honest profession there is. Back to selling stuff

@CaseyMericle Red Lobster 🦞

I was born in the USA Therefore I can’t answer this question

⚠️ 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

🏠 Why Multifamily Is Still So Hot Right Now I keep hearing people ask: “Why are multifamily fundamentals still so strong?” A big reason is happening in the for-sale housing market. A new analysis from the Joint Center for Housing Studies highlights the powerful “mortgage rate lock-in effect.” Here’s what it means: 📊 Millions of homeowners locked in ultra-low mortgage rates (3–4%) during 2020–2021 📉 Today’s mortgage rates are significantly higher 🚫 If they sell, they would have to finance a new home at much higher rates So what happens? ➡️ They don’t move. Research shows that lower outstanding mortgage rates reduce homeowner mobility dramatically, meaning fewer people sell their homes. Even more striking: 📈 A 1% decrease in the average outstanding mortgage rate increased home price growth by ~8% between 2021–2023 because fewer homes came onto the market. The Result: A Frozen Housing Market This lock-in effect is creating a structural inventory shortage. • Fewer homes for sale • Higher home prices • Affordability getting worse • Millions of potential buyers stuck renting Why This Is Bullish for Multifamily When households cannot buy, they rent longer. That drives: 🏢 Higher renter demand 📊 Strong occupancy 📈 Stable rent fundamentals 💰 Durable multifamily valuations Even with a huge wave of new apartments delivered recently, renter demand still outpaced supply in the U.S., with about 849,000 new renter households in one year alone. The Big Picture:For-sale housing is effectively locked up by low-rate mortgages. Until one of these happens: • Mortgage rates fall significantly • Home prices correct meaningfully • Or millions of owners decide to give up their low rates ➡️ Multifamily will continue to absorb the demand. And that’s exactly why multifamily remains one of the most resilient asset classes in commercial real estate today.

@CaseyMericle 🤣🤣 what about CA’s to see all of the documents in the deal room?

@ReidBennettCCIM In my experience that’s a low number

Would you buy this? If so, how? I'm gonna do some deal breakdowns so you can see how I think about them *Take this with a grain of salt, there's always another way to do a deal

For 25 years, my job as a multifamily broker was simple: ♦️ Hold the deal together. ♦️ Keep buyers calm. ♦️ Keep sellers committed. ♦️ Keep lenders engaged. ♦️ Keep attorneys from killing momentum. ♦️ White-knuckling transactions across the finish line. And I loved it. But here’s what I realized… 💫 As a broker, you control the process. 💥 As a GP, you control the outcome. That shift changes everything. When you’re on the General Partner side: ✅ You decide the basis. ✅ You decide the capital stack. ✅ You decide the business plan. ✅ You decide when to sell. ✅ You control the upside. ✅ You’re no longer reacting to someone else’s strategy. ✅ You’re building your own. That’s exactly why I am learning the process from CRE Investor Coach with Brad Ahrens, CCIM Most brokers (myself included) say: 👉 “Next year I’ll invest.” 👉 “Once this pipeline clears.” 👉 “When the market stabilizes.” 🤯 But ready isn’t a feeling. It’s a decision. The same resilience it takes to hold a deal together as a broker… is the same discipline it takes to become an owner. Brad and his team have created a library and format to take the trial and error guesswork out of the GP process. I'm learning more during this process than I learned in 25 years as an apartment broker. Let me know if you want to connect....

@CaseyMericle "If you see a Confidentiality Agreement, there is a 99% chance that this is an awful deal" 😂

Years ago, @moseskagan gave some of the best real estate advice I've seen on here. I'll poorly paraphrase. "As quickly as possible, you need to take your real estate business from default dead (needing to transact to survive) to default alive (business is self-supporting)." For newer GPs, I cannot properly express how important this is. The sooner you hit the tipping point, the better. It's not about wealth (that comes later) as much as it's about controlling outcomes and reducing stress. Your LPs become true partners, not lifelines. Your team focuses on buying good deals, not trying to jam through bad ones. You spend more time thinking about how to grow your business and less time worrying if you'll have one in a year. Every single decision you make should help you hit this target. Even if it means taking on less money and growing more slowly. Your life will dramatically improve as a result.

@skylarromines Serendipity

@ReidBennettCCIM Which one??

• mudita: the practice of taking delight in the happiness and good fortune of others. • pronoia: the belief that the universe is conspiring on your behalf to shower you with blessings. • serendipity: the occurrence & development of events by chance in a happy or beneficial way. • eunoia: beautiful thinking or a well mind. • kairos: a propitious moment for decision or action; divine timing. • apricity: the warmth of sun in winter. • opia: the ambiguous intensity of looking someone in the eye. 🤍

@OdenEric Now there is a novel idea!

@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?