The Multifamily 5 Podcast

Introduction

In this episode of the Multifamily 5 podcast, host Mark Allen interviews Ian Mattingly, President of Luma Residential, about the state of the multifamily market and operations in Texas. Ian provides unique perspectives as a seasoned operator leading a major portfolio in Dallas and having deep industry involvement.

Key Discussion Points

Ian's background getting into multifamily, starting in the family business then with a Denver brokerage and back to Luma [2:30]

Legislative threats to multifamily profitability in Texas from property taxes and anti-business policies [5:15]

Operating fundamentals across Luma's portfolio showing some softening from new supply but Texas retains positive in-migration [7:30]

Concerns on lender balance sheets and potential impacts on multifamily if distress hits banks [10:00]

Mitigation as long-term holder through focus on resident retention and technology efficiencies [12:30 ]

Using centralized teams, including offshore, to enhance customer experience [15:30 ]

Capital planning strategies to fund ongoing renovation needs and defer obsolescence [19:00]

Leveraging technology for marketing efficiencies but still seeing cost increases [21:30]

Stand out from new supply by maximizing location, curb appeal, branding [25:30]

Potential for major productivity gains from emerging technologies like AI, opportunities for growth [28:00]

Relevant Resources

Luma Residential - https://lumapm.com/

Ian Mattingly on LinkedIn - https://linkedin.com/in/ianmattinglycpm/

Mark and some of the other top Dallas apartment brokers provide essential information to a gathering of over 550 apartment investors at the Old Capital Conference. Delve into the predicaments faced by owners navigating distress due to their debt structures. Explore potential opportunities for acquiring these assets and acquire a comprehensive understanding of cap rates.

On this episode of the Multifamily Five Podcast, host Mark Allen interviews Brett Luskey, partner at Fairmont Management Company, to discuss strategies for navigating the multifamily market in today's turbulent economic climate.

Key Discussion Points

The current state of the DFW rental market - vacancy rising, rent growth slowing, increased turnover [00:01:30]

Being strategic with rent pricing based on unit types and floor plans rather than property-wide adjustments [00:02:00]

The importance of resident retention and "closing the backdoor" with reasonable renewal increases [00:03:00]

Labor market challenges - difficulty hiring for properties with small staff counts, proactive retention tactics [00:08:00]

Prioritizing capital projects based on property needs and economic conditions [00:12:00]

The value of master-metered utilities in Class C properties today [00:23:00]

Maintaining strong communication and reasonable expectations with property owners [00:19:00]

Relevant Resources

Fairmont Management Company website: https://fairmontmanagement.com

Brett Luskey's contact information: [email protected], 972-284-1045

Today we are speaking with Badri Malynur, Co-Founder and VP of Sales at Avestor. Badri brings more than two decades of experience in the multi-family housing market. He co-founded two start-ups, was an active angel investor and held key leadership positions at a Fortune 500 company.

Avestor was founded on the vision that every investor should have the opportunity to invest in real estate and alternative asset classes. They created a customizable fund with which you can raise an unlimited number of investments through the single-entry point of a fund, making it easier than ever to raise capital continuously.

Listen in and learn how you can easily raise additional funds, or diversify your investment portfolio as a passive investor. You can reach out at [email protected] or check out the website www.avestorinc.com.

In today’s episode we are speaking with Warren Craythorne, Founder of Conduct Connect. Conduct Connect has developed a unique business model allowing property owners to leverage their existing assets and generate additional recurring revenue. We’ll learn how they can help boost your NOI through implementing revenue generating fiber optic cable.

As technology advances, access to high-speed internet has become increasingly important to individuals and businesses alike. This is especially true for those living in multi-family properties, where internet connectivity can be a determining factor when choosing a place to call home.

Not only does fiber optic internet provide faster and more reliable connectivity, but it also offers numerous advantages that can help to enhance the appeal of your property and attract new tenants.

If you have any questions or would like to discuss the possibility of installing fiber optic internet in your property, please send a message through the website at www.conductconnect.com

Affordable Housing and PFCs

On today's episode I'm speaking with Tim Nelson and Braxton Parsons of HilltopSecurities, who represent Public Finance Corporations (PFCs). Tim and Braxton are like Brokers between PFCs and experienced sponsors/developers. In this episode we cover PFCs at a high level, deal qualification criteria, how PFCs affect a sale of a multifamily property, and current legislation.

If you would like to get in touch with Hilltop, please reach out to Tim at [email protected]

In today’s episode we speak with Drake Allred, of Continental Adjusters, Inc. Continental Adjusters is a Licensed Public Insurance Adjusting firm exclusively representing building owners, company owners and property management companies. They are the largest multifamily adjusting firm in the U.S. and provide "start to finish" expert analysis of losses to buildings, contents and loss of rents/business interruption insurance claims caused by catastrophic events such as Hail, Fire, Wind, Tornado, Hurricane, etc.

B and C class multifamily are wonderful assets, but they are exposed to losses. Drake will discuss what to look for when searching for a good public adjuster and some tips for owners on what to do immediately after damages have occurred at their property.

If you want to get in touch with Drake, please reach out to [email protected]

Rock Stevens, Director of Business Development at the Strategic Insurance Group, joins me in a discussion about the current multifamily insurance market and how to obtain lower insurance premiums through a master insurance policy. The Strategic Insurance Group is a multifamily real estate insurance firm focused exclusively on the 100+ unit multifamily market. The firm offers a free instant quote tool so you can get insurance premium quotes in seconds. Massive insurance savings will lower your expenses, increase your NOI, and drive-up property value! Rock will talk about how a master policy works and what the benefits are of having multiple locations on one policy. We also discuss how insurance companies determine the premiums for multifamily real estate properties, which factors can impact the premium, the current hard market situation caused by a $60 billion shortfall in the reinsurance market, and how multifamily owners can ensure that they’re getting the best possible coverage at the most affordable price.

If you would like to get in touch with Rock or want to get a free instant quote for all your properties, please visit https://strategicinsurer.com/

In today's episode we are excited to talk with GREA's own, R. Jeffrey Burgfechtel, JD Jeff has been part of the GREA team for 5 years now and is primarily focused on identifying and vetting commercial real estate opportunities for his clients. He provides expert analysis but also first-hand experience that can only be gained through multiple acquisitions and sales, and 20 years of direct management of his personal commercial real estate portfolio. Jeff is also a licensed trial attorney with over 20 years of legal experience.

Today, we will discuss commercial real estate; specifically, NNN lease investments, what’s going on in commercial real estate, and how investors can capitalize on NNN lease investments.

Are you potentially going to have to come out of pocket to service your debt? Ann Hambly, CRE should be your first call!

On today’s episode, Ann will share the process of negotiating and finalizing a loan restructuring agreement and some challenging multifamily loan modications she has dealt with in the past.

Ann is not a stranger to our podcast; she joined us in Ep. 26 to discuss how to navigate loan assumptions. 1st Service Solution was founded in 2005 and was the first firm dedicated to serving exclusively as a borrower advocate for surveillance, loan assumptions and loan workouts within CMBS (commercial mortgage-backed security), CRE CLO (commercial real estate collateralized loan obligation), and Agency.

To find out more about 1st Service Solution please visit their website at www.1stsss.com.