multifamily real estate

“Turned out they had the same margins as multis. The tenants are usually higher quality, so you're less default because it's a family, not a kid. And with tech, you organize your maintenance calls in a route that didn't really tax you.”

“You can actually forecast recessions by looking at how aggressively we're renovating our units because the data comes in from the property level versus us seeing it in the macro environment.”

“So when we're renovating, we want to keep ourselves to a high standard of about a 20% return on cost.”

“It turns out about 50% of residents move every year in America.”

“So you had these non-traded REITs that were actually buying about twenty billion dollars worth of multifamily in 2021. About 10% of all transactions in the multifamily space were being traded to these non-traded REITs.”

“We end up underwriting about a hundred deals a month.”

“After about a year and a half, to Robert's point of getting to that six percent cash on cash, finally saw these values Drop about 30% from peak, and then we were able to start buying below replacement cost.”

“When I met Robert in January of twenty-twenty-two, multi-family, the acquisition volume had doubled since twenty-nineteen.”