

ASK MIKE MONDAYS - SPECIAL EDITION - Mike, How bad is this coronavirus going to be on apartments?
ASK MIKE MONDAYS - SPECIAL EDITION - Mike, How bad is this coronavirus going to be on apartments?
This special edition focuses on what LIMITED PARTNERS and GENERAL PARTNERS can possibly expect with the impact of the coronavirus on apartment investments. You will want to listen to this.
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This special edition focuses on what LIMITED PARTNERS and GENERAL PARTNERS can possibly expect with the impact of the coronavirus on apartment investments. You will want to listen to this.
This special edition focuses on what LIMITED PARTNERS and GENERAL PARTNERS can possibly expect with the impact of the coronavirus on apartment investments. You will want to listen to this.
As you can imagine, with interest rates rising, many apartment investors have been pencils down. Investors are concerned with lower asset value & higher debt service. Is there any good news out there? What are some of the positive ideas that are occurring in apartment investing? Mike is starting to see some positive “green shoots.” Mike discusses some of those encouraging thoughts on what he is seeing in apartment investing. Listen to the guy that has acquired over 14,000 apartment units. Ar...
As you can imagine, with interest rates rising, many apartment investors have been pencils down. Investors are concerned with lower asset value & higher debt service. Is there any good news out there? What are some of the positive ideas that are occurring in apartment investing? Mike is starting to see some positive “green shoots.” Mike discusses some of those encouraging thoughts on what he is seeing in apartment investing. Listen to the guy that has acquired over 14,000 apartment units. Ar...
To promote affordable housing, some older properties may have an income restricted LURA. A LURA is a LAND USE RESTRICTION AGREEMENT. It runs with the deed. This recorded regulatory agreement may restrict the amount of rent you can charge a tenant, based on the tenant’s income. If you rehab a property and are expecting to increase rents to justify the cost…a LURA may prevent you from being able to raise rents in the future. Make sure you ask the seller’s agent if the property has a LURA.
To promote affordable housing, some older properties may have an income restricted LURA. A LURA is a LAND USE RESTRICTION AGREEMENT. It runs with the deed. This recorded regulatory agreement may restrict the amount of rent you can charge a tenant, based on the tenant’s income. If you rehab a property and are expecting to increase rents to justify the cost…a LURA may prevent you from being able to raise rents in the future. Make sure you ask the seller’s agent if the property has a LURA.
What is it and does every lender have that? Banks do not, Fannie and Freddie do! Freddie's is called Multifamily Green Advantage. Fannie's is called the Green Rewards Program. BOTTOM LINE: Older properties need to be more energy efficient; the agencies are incentivizing owners to change current usage by landlords and tenants of electric and/or water by 20%... if you are successful, your new loan may have a lower interest rate up to 33 basis points. Wow!!
What is it and does every lender have that? Banks do not, Fannie and Freddie do! Freddie's is called Multifamily Green Advantage. Fannie's is called the Green Rewards Program. BOTTOM LINE: Older properties need to be more energy efficient; the agencies are incentivizing owners to change current usage by landlords and tenants of electric and/or water by 20%... if you are successful, your new loan may have a lower interest rate up to 33 basis points. Wow!!
Michael gives you his opinion on where the apartment industry is today. Rents are UP, Values are UP, and Cap Rates are DOWN. Is it going to last? TODAY is the 'golden age' of apartment ownership. Michael goes into detail where he sees the opportunities and challenges in the next few months with apartment investing and ownership. Also, the guys discuss the ramifications of being on the wrong side of Fannie Mae and Freddie Mac and how it will impact you on doing future business with the Agency len...
Michael gives you his opinion on where the apartment industry is today. Rents are UP, Values are UP, and Cap Rates are DOWN. Is it going to last? TODAY is the 'golden age' of apartment ownership. Michael goes into detail where he sees the opportunities and challenges in the next few months with apartment investing and ownership. Also, the guys discuss the ramifications of being on the wrong side of Fannie Mae and Freddie Mac and how it will impact you on doing future business with the Agency len...
Top of the market (A+ institutional construction) is getting a little frothy in the urban core and suburban markets throughout the nation. Spread between the A property and C property is flatting on the cap rates. Coming out of the 2008 recession the A’s recovered first and then the B’s and C’s followed. The cap rates between the different property types have compressed tremendously. Mike gives his insight on why his group is focusing on the “top of the work force housing” space.
Top of the market (A+ institutional construction) is getting a little frothy in the urban core and suburban markets throughout the nation. Spread between the A property and C property is flatting on the cap rates. Coming out of the 2008 recession the A’s recovered first and then the B’s and C’s followed. The cap rates between the different property types have compressed tremendously. Mike gives his insight on why his group is focusing on the “top of the work force housing” space.
Michael discusses and defines the term: KEY PRINCIPAL and how it applies to commercial real estate lending. The lender makes the loan to the Borrower. The Borrower is not typically an individual; but typically a limited partnership. Generally, where the Borrower is a limited partnership, the general partners are the managers of the Partnership. Thus, individuals general partners are potential Key Principals. For any general partner of the Borrower which is an entity, the Lender must identify as ...
Michael discusses and defines the term: KEY PRINCIPAL and how it applies to commercial real estate lending. The lender makes the loan to the Borrower. The Borrower is not typically an individual; but typically a limited partnership. Generally, where the Borrower is a limited partnership, the general partners are the managers of the Partnership. Thus, individuals general partners are potential Key Principals. For any general partner of the Borrower which is an entity, the Lender must identify as ...
Michael discusses and defines the term: KEY PRINCIPAL and how it applies to commercial real estate lending. The lender makes the loan to the Borrower. The Borrower is not typically an individual; but typically a limited partnership. Generally, where the Borrower is a limited partnership, the general partners are the managers of the Partnership. Thus, individuals general partners are potential Key Principals. For any general partner of the Borrower which is an entity, the Lender must identify as ...
Michael discusses and defines the term: KEY PRINCIPAL and how it applies to commercial real estate lending. The lender makes the loan to the Borrower. The Borrower is not typically an individual; but typically a limited partnership. Generally, where the Borrower is a limited partnership, the general partners are the managers of the Partnership. Thus, individuals general partners are potential Key Principals. For any general partner of the Borrower which is an entity, the Lender must identify as ...
Net Operating Income is the key metric in the multifamily world for investing and financing. The two main components are operating income and operating expenses. Mike breaks down some line items on the operating statements and tells you what you need to look for.
Net Operating Income is the key metric in the multifamily world for investing and financing. The two main components are operating income and operating expenses. Mike breaks down some line items on the operating statements and tells you what you need to look for.
The real estate market frenzy is over, we're seeing more normal patterns. Here's what to expect with inventory and prices into early 2023.
The post Mike Simonsen: “Inventory is climbing, is the supply crisis over?” appeared first on HousingWire.
The real estate market frenzy is over, we're seeing more normal patterns. Here's what to expect with inventory and prices into early 2023.
The post Mike Simonsen: “Inventory is climbing, is the supply crisis over?” appeared first on HousingWire.