A very unique deal and conversation on today's episode with my good friend Matt Wideman. Matt joined Newmark in 2015 as a Transaction Manager with significant experience in the industry including acquisitions, dispositions, asset management and property management as well as development and capital markets analysis.

Matt graduated cum laude with a Bachelor of Business Administration degree in finance from Southern Methodist University while being a starter on the SMU men’s soccer team where he competed in the College Cup. After a short stint in Major League Soccer (MLS), he began his career in commercial real estate.

In today's discussion, we look at a portfolio by a syndicator that was having some issues with profitability that kept buying properties to stay afloat. Matt and his team looked at each individual deal to find equity in some of the 52 assets and the rest you'll have to find out in the episode!

Time Stamps:

(1:21) Matt’s Bio

(3:32) Why Multi-Family?

(4:51) Matt’s Deal

(7:52) Average Vintage

(18:20) Issues With The Deal

(22:52) Business Plan and Exit

(26:25) Overcoming Challenges

(33:22) Summary

(37:08) One Thing Matt Would Change

(44:55) Buy or Sell

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As you know, we talk deals on this show to give you some of the nuance and steps that sometimes go overlooked. While we do dive into another deal on today's episode you won't want to miss, we also talk about some wild deals as well.

Will Givens is a Senior Vice President in the Dallas-Fort Worth Debt and Structured Finance division at Colliers. He specializes in structuring and negotiating real estate financing for corporate clients and real estate investors. He has an extensive background in business development, loan origination, and equity placement.

Prior to joining Colliers, William was a Vice President at CBRE’s brand Capstone Financial. Him and his team have originated, structured, and closed over $12+ billion in real estate loans for a broad range of commercial asset types including single and multi-tenant retail, multifamily, industrial, mixed-use, office, hospitality, and healthcare. 

Time Stamps:

(1:20) Will’s Background and Intro

(4:15) Knowledge and Diversity Within The Real Estate Industry

(5:34) Unique Previous Deals

(10:36) Wildest Deal

(14:50) Why Multi-Family?

(17:00) The SAFE Method

(17:14) Will’s Deal

(19:36) Size and Number of Units

(26:44) How Offer Was Received

(29:27) Financing and Going To The Market

(40:10) Leverage on Deal

(43:02) Timeline

(50:32) One Thing to Change in Multi-Family

(52:20) Advice for Getting Into the Business

(55:48) Future of Multi-Family

(1:00:00) Buy or Sell

(1:04:18) Where to Find Will

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Another great deal talk this week with my good friend Chris Mendenhall. Chris is the Senior Vice President of Investments at ClearWorth Capital, a University of Arkansas at Fayetteville Alum, and has a wealth of knowledge and experience in the commercial real estate game.

He brings an interesting deal to us and, like our previous episodes, we'll run it through my SAFE method, analyze the deal, explain the investment to exit timeline, and have some fun questions at the end as well.

Time Stamps:

(1:19) Chris’s Bio

(3:17) Why Multi-Family?

(4:48) The SAFE Method

(4:57) Sourcing The Deal

(8:36) Analysis of the Deal

(10:42) Investment to Exit Timeline

(13:47) Structure and Financing

(16:30) World Shutting Down During COVID

(31:02) The Result

(34:22) One Thing to Change in Multi-Family

(36:12) Advice Getting Into The Business

(37:29) Future of Multi-Family

(39:22) Buy or Sell

(44:20) Where to Find Chris

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Follow Me on Instagram: https://www.instagram.com/kevparrish/

Today's deal is a perfect example of the reason I started this podcast and I hope you really enjoy it. Ford Braly, First Vice President of Investments at Marcus & Millichap, joins me to talk nuance and specifics on one of his favorite deals that lasted over 7 years to finally complete. We'll discuss everything through my SAFE method, details and why it took so long, and end with my game Buy or Sell.

Time Stamps:

(1:22) Ford’s Bio and Achievements

(3:15) Why Multi-Family?

(5:07) SAFE Method

(5:17) Sourcing Ford’s Deal

(10:52) Time Frame of the Deal

(13:47) Exclusive Agreement Explanation

(17:10) Pursuing This Deal for 6 Years

(18:52) Analysis and Details on the Property

(24:04) Price of Property

(25:57) Then The Storm Came

(32:26) Second Marketing Effort

(36:20) Second Financing Process

(39:56) Financial Details and Due Diligence

(42:43) Exit Strategy

(46:57) Wrapping Up

(49:40) Pleasant Persistence

(50:02) Future of Multi-Family

(52:02) Buy or Sell

(56:17) Where to Find Ford

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Email Ford at: [email protected]

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Follow Me on Instagram: https://www.instagram.com/kevparrish/

I've got another special guest and interview with a dear friend and a deal talk that you won't want to miss. Richard Furr is an Executive Managing Director at Newmark and joined the Dallas investment brokerage team in 2011. During his 25 year career, he has been responsible for over $1 billion in multifamily transactions; this includes ground-up new development, value-add acquisitions, and core asset acquisitions. Furr is a graduate of Texas Tech University and received a master’s degree in Land Economics and Real Estate from Texas A&M University.

In this episode, we discuss one of Richard's favorite deals through my SAFE method, how the deal was awarded to a private buyer, thoughts on the multi-family industry, and more!

Time Stamps:

(1:23) Richard’s Bio

(3:57) Why Multi-Family?

(5:38) Richard’s Deal and The SAFE Method

(12:09) Demand For These Deals

(13:48) Marketing Process

(18:01) How the Deal Was Awarded

(24:37) One Thing to Change About the Multi-Family Industry

(26:58) Recognizing the Long Game

(29:27) Buy or Sell

(35:19) Connecting with Richard

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Very excited to bring you my first interview and guest on the show and someone I've known for awhile now as a friend and colleague and that is Nick Fluellen. Nick is a licensed broker in the state of Texas and is the Executive Managing Director at Marcus & Millichap. He has successfully closed over 600 transactions including 5.1 billion dollars in value and he's just a good dude as well. We discuss a specific deal he recently had, how to source it, what made the property a winner, and much more!

Time Stamps:

(1:15) First Official Interview

(1:30) My Guest Today Nick

(3:21) Why Multi-Family Properties?

(5:05) The SAFE Method

(6:33) Sourcing the Deal

(9:55) What Made This Property a Winner

(13:30) Financing

(16:10) An Inherited Manager

(19:51) One Thing to Change About the Multi-Family Business

(22:17) Advice to Getting Into the Business

(23:53) Where Multi-Family is Going into the Future

(26:31) Buy or Sell Game

(29:05) How to Connect with Nick

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Follow Nick on Facebook

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Follow Me on Instagram: https://www.instagram.com/kevparrish/

Welcome to the first official episode of The Multi-Family Deal Talk Podcast! I am your host Kevin Parrish and I want to quickly share in this episode who this podcast is for, what qualifies me to talk about deals, my SAFE method for investing, our sole focus for this podcast, and our free gift for you.

(1:05) Welcome to The Multi-Family Deal Talk Podcast

(1:43) Who Is This Podcast For?

(3:57) What Qualifies Me?

(4:05) The SAFE Method

(4:41) Our Sole Focus

(5:05) Our Free Resource

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Follow Me on Instagram: https://www.instagram.com/kevparrish/