You’re always better off overpaying for the debt and underpaying for the real estate than overpaying for the real estate and underpaying for the debt.

multihousingnews.com/trion-p… #multifamily #RealEstate #dallas

According to Berkadia, there has been a 37% increase in foreign capital in American Multifamily investment. The access to capital may seem light now but $ is itching to jump in.

The residential version of NOI-constrained.

How Adaptable Multifamily Owners Thrive at.law.com/C1XiVd?cmp=share_… via @GlobeStcom

Thanks GlobeSt.​ for naming us to your Influencers in #Multifamily list for 2023! at.law.com/Uo1Pq9?cmp=share_… via @GlobeStcom

Trion Properties’s Latest Multifamily Disposition in Tigard, Oregon Results in a 29% IRR Portfolio yieldpro.com/2023/10/trion-p… via @Yield PRO

l8r.it/HwUf Brace yourselves for a real estate revolution! 🏢 See what AI can truly do for the real estate industry and what @Trion Properties is doing with it right now. #multifamily

Are these unknown unknowns or known unknowns? We know that the intended consequence of rate increases is demand destruction which typically leads to job loss and/or recession, so if there are “surprises” such as bank failures or bankruptcy of non-bank financial institutions those would qualify as known knowns or known unknowns, not unknown unknowns. And that’s my tongue twister this beautiful Friday morning! ☀️

So much yes here. Beware any business model where the sponsor gets paid the majority of their fees at closing of the acquisition. There was a TIC syndication model pre-GFC where the sponsor took 6-7% fees upfront because “it’s against the tax code to participate in profits so we’ll take fees upfront.” If your age starts with a 4 or higher, we know how that went.

Which #multifamilyrealestate strategy works better for you? l8r.it/UKJJ

Quick chapter in our bio: during the GFC, we pivoted our business model from buying value-add multifamily to buying nonperforming debt secured by multifamily. We did approximately 20 NPL/REO deals in the 2009-2012 period, so we have more experience than most real estate sponsors in the space. It’s how @FARlikewhoa and I met. He was working at Auction and we were trying to buy their product, to no avail. There is a portfolio of Signature Bank loans secured by rent-stabilized multifamily in NYC being sold by Newmark which has the potential to be a massive win for the Buyer. Buying NYC rent stabilized multifamily with the hope that the law changes is extremely high risk and no way to run a multifamily business. HOWEVER!, whoever takes ownership of the real estate via a distressed debt play will have substantial imputed equity and likely an in-place yield >7% which is as much downside protection as you’ll get in NYC. If the SCOTUS cards fall in their direction, those properties are in 3.5% cap territory almost overnight. We’re not in the space otherwise I wouldn’t be writhing this tweet (or is it X?), but whoever is buying that debt may have a goldmine on their hands.

Multifamily Investing Meet and Greet | Trion Properties youtu.be/511x4sKfjwo?feature… via @YouTube

An Insider's Guide to Financial Freedom Through Multifamily Investing l8r.it/gcGd #MultifamilyInvesting Are you ready to take charge of your financial freedom? Read now to start your journey to success!

8 Strategies for Weathering Real Estate Market Volatility for Investors cobizmag.com/8-strategies-fo…

bisnow.com/dallas-ft-worth/n… #DallasCowboys