Street Smart Success

Focusing on a tertiary market that you know incredibly well can pay great dividends. You eliminate a lot of risks when you’re that familiar with a market and the buildings in it. Tertiary markets historically have also had less competition in acquiring commercial Real Estate. 

Bob Couture, Managing Partner Broker at CP Group, lives in Hermosa Beach, CA but syndicates in Springfield, Massachusetts where he grew up, and has great contacts.

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Many growing markets in the U.S. still have more rental demand than supply. Tucson in particular has more population growth than housing which has resulted in market-wide vacancy of less than 2%. This is a recipe for increasing rents and successful multifamily investment. 

Gary Lipsky, President and CEO of Break of Day Capital, has done several lucrative deals in Tucson and is continuing to enhance his presence there.

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There’s no substitute for experience and focus. A lot of risk is mitigated by becoming an expert in one thing and doing it over and over. As an investor, you want to invest with people that have mastered one thing. 

Ivan Barratt, Founder of BAM, a fully vertically integrated multifamily syndicator out of Indianapolis, has dominated his local market and has generated exceptional returns for his investors.

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Real Estate investing can generate great cash flow, and personal freedom. With enough cash flow you can choose where you want to live and when you want to work. 

Derek Clifford, Founder and CEO of Elevate Equity, bought several single-family homes in Indianapolis before graduating to multifamily properties with better cash flow. He’s now enjoying a several month stay in European destinations as he runs his real estate business remotely.

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Prices on quality Multifamily assets are holding firm. Although there are significant price reductions in older properties, Class B+ and A- in growth markets are holding firm because of the huge amount of capital still flowing into this stable asset class. These days you can expect a 4% annual return on your money and an IRR of 10-12% on these deals. 

Mark Hamilton, Founder of Hamilton Zanze in San Francisco, owns over 23,000 units, and has over three decades of multifamily experience.

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Ma and Pa operators all over the country are selling their Mobile Home parks to investors as they reach retirement age, and there’s lots of great Value-Add deals to be had. When you have limited supply, an increase in demand, and the most affordable housing option available, you have an incredibly attractive asset class. 

Todd Sulzinger, Founder of Blue Elm Investments, is acquiring Mobile Home parks in smaller markets outside growing metro areas.

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In major markets, the competition in self-storage is fierce with REITS and other institutional players competing for customers. In smaller markets, however, there are ma-and-pa owners who have not maximized their operations and therefore represent great opportunities for professional operators to invest. 

Mark McGuire, Chief Investment Officer of Hearthfire Holdings is finding these opportunities and is generating compelling returns.

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The biggest inhibitor to growing wealth is taxes. That’s why the best investing opportunity over the past few years is Opportunity Zones where you can defer capital gains and avoid depreciation recapture, plus other great benefits. 

Ashley Tison, Founder and President of OZPros.com, is an expert in structuring Opportunity Zone opportunities for entrepreneurs to make great Opportunity Zone investments or create Opportunity Zone funds in underserved areas all over the country.

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Multifamily values have accelerated over the past few years. A huge increase in household formation, Baby Boomers choosing to rent, 70 million millennials of whom choose to rent…all bodes well for multifamily. Investing in multifamily, however, still has its’ risks. 

Today’s guest, Lee Harris, President and CEO of Cohen Esrey, an apartment acquisition, development, and management company, has seen multiple cycles over 45 years and knows how to avoid risk.

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The economy has been in bull territory for over a decade, but this will not last forever. One Real Estate asset class, however, will not only sustain, but will thrive in recessionary times. This is Mobile Home Parks. 

Today’s guest, Jeff Cook, Managing General Partner at Cook Properties, is the largest owner of Mobile Home Parks in the state of New York and recently acquired a $124 Million portfolio.

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