David Tarquin

29 posts

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David Tarquin

David Tarquin

@davidtarquin

CFA | Ex RE institutional manager. Rad guy who likes cap rates, but loves his wife and son more. I’ll take my personal pizza over a piece of the pie every time.

California, USA Katılım Ağustos 2009
53 Takip Edilen420 Takipçiler
David Tarquin
David Tarquin@davidtarquin·
@JakehellerAI Because these guys don’t know real estate and want to find a niche
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Jake
Jake@JakehellerAI·
If your vibe coding an underwriting tool to try and sell to others, why?
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David Tarquin
David Tarquin@davidtarquin·
Sharing for a friend… this will be devistating.
David Tarquin tweet media
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Shawn Gorham
Shawn Gorham@shawngorham·
talk me out of it - 1991 - diesel
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Drew McAllister | CRE
Drew McAllister | CRE@DMAC_19·
Location is driving everything in small multifamily. One apartment deal in Whittier already has multiple offers and looks like it may trade above asking at high-11x gross (5 cap). Meanwhile, a triplex in Koreatown (LA) has almost no activity. A 9-unit in decent part Long Beach only seeing lowball offers sub 10x gross. For context - Long Beach deal is around a 6.5 cap with 15% upside. Uptown Whittier low 5 cap. Same asset class. Totally different buyer behavior. Location driving everything.
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David Tarquin
David Tarquin@davidtarquin·
@jayparsons @ADeermount Good CA liquidity. The transition toward a federalized or GSE-standardized market is a certainty. Like it or not, the nation will be under tenant protection policies soon; the real question is, who will be helming the ship? I’d bank on insular caps and a 3 leg economies forward.
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Jay Parsons
Jay Parsons@jayparsons·
Camden found a buyer for its SoCal apartment portfolio (most of which is Orange County or San Diego), and industry gossip is it's at aggressive price. More broadly: It seems the growing institutional disinterest in L.A. is driving increased interest in other parts of SoCal.
Jay Parsons tweet media
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David Tarquin
David Tarquin@davidtarquin·
@ADeermount Maybe they don’t know what insular cap rates are. Hot potato markets.
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Adam Smith
Adam Smith@adamstatonsmith·
Lost another listing on price. Third time this month. Either I'm too honest about where the market is, too conservative in my underwriting, or just bad at my job. Probably all three.
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David Tarquin
David Tarquin@davidtarquin·
@trogglodytes @gbaroth Landlords didn't ruin Santa Monica; politicians did. Property owners aren't mismanaging the city. They are having their equity and property rights stripped away by local officials who refuse to take accountability for their own failed policies.
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David Tarquin
David Tarquin@davidtarquin·
@moseskagan And don’t put in garbage disposals… residents abuse them way too much.
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Shawn Gorham
Shawn Gorham@shawngorham·
Ok.. Mac mini's are sold out, was going to mess around with some AI stuff... what should I do now?
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Jeff Feldman
Jeff Feldman@Jefffeldman·
Non-recourse, Full-recourse, All Cash.
Jeff Feldman tweet media
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David Tarquin
David Tarquin@davidtarquin·
@DMAC_19 It ranges from 225 to 650 a month for weekly service. I need to pay more post reno to retain residents.
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Austin Nissly
Austin Nissly@atnissly·
Our bids on LA apartments right now are about at 2012-2015 purchase prices.
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David Tarquin
David Tarquin@davidtarquin·
@moseskagan I agree. LPs should encourage their GPs into cap rate arbitrage (if there is trust). Refinancing kicks the can down the road but, resetting caps allows for better yield and appreciation.
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Moses Kagan
Moses Kagan@moseskagan·
Don't think I appreciated the full impact of higher interest rates on the heavy value-add real estate business when rates increased initially in '22. The problem for operators isn't just the higher exit caps. It's the increased opportunity cost for investors of having $$$ tied up in assets that aren't generating income.
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Paul
Paul@LA_Multi_Fam·
Only 31 cash for keys buyouts in the city of Santa Monica last year. Out of ~ 27K rent controlled units would have thought that number would be much higher. Only 2 crossed the $100K mark. With values falling the math does not pencil the huge buyouts we heard about when GRMs were approaching 20X on the sale of an apartment building.
Paul tweet media
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David Tarquin
David Tarquin@davidtarquin·
With treasuries flattening out, cash-in refis are about to be back en vogue. Take the list price and reduce it by the cash-in debt rebalance, and it’s clear: buyer spreads are finally cooking in the right direction.
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David Tarquin
David Tarquin@davidtarquin·
@shawngorham @dtmorgan18 @grok San Diego yield, 120bps 25-30k CapEx San Diego value add, 175bps with 60-90k Bay Area, missed the cap compression Under writing Denver and PHX. Still more blood in the hog.
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David Tarquin
David Tarquin@davidtarquin·
If you’re real on renovated rents, stabilized cap rates are dismal to LTL gains… the acq/rehab market is currently locked. Yield is the new queen. Just look at rent velocities in the current rolls. Basis.
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