mult ifamily: Wild ride for 2009 Multifamily Investments
- 11/03/08 11:07 AM
Wow, it’s been a wild ride this year so far. Multifamily investments and performance are all over the board depending on which survey you read. One thing for sure is a real slow down in purchases most likely caused by the presidential election. Multifamily investors reap great benefits utilizing aggressive accounting strategies so any discussion among candidates about a tax increase generally slows down the purchase market. Surveys have indicated that rents have leveled off for most areas. I think this is fair to say. It’s always more difficult to raise rents in this environment. However, demand may increase as … (2 comments)
mult ifamily: The unhappy banker
- 10/31/08 08:54 AM
I read a couple of articles that finally made me feel a little better about all the bailout talk and shenanigans going on lately. If you are a home owner and fall behind in payments, you may be eligible for a new fangled program. If you are a home owner who struggles, makes tough decisions like not going to the doctor but make your house payments on time, you are out of luck. The banking industry knows full well the next huge issue for them will be credit card losses. These losses cannot be blamed on anything or anyone except … (2 comments)
mult ifamily: The AMERICAN BAILOUT
- 10/26/08 03:36 PM
I use a dozen or so sites to obtain information about the financial sector and in multifamily investments. I started to count the billions and billions of dollars that are being invested here and there and some more way over there. My calculator just couldn't compute the numbers. You know it's a lot of money when you start counting trillions instead of hundreds of billions. One analyst stated casually that one company would only require just over a $100 billion. When did we get so casual about $100 billion. According to my calculator. I have to be honest, the numbers were … (0 comments)
mult ifamily: Fed bailout used to buy National City?
- 10/25/08 04:25 PM
Is PNC going to use some of the $700 Billion Fed money to buy National City? This may be difficult to prove but the idea is just very unsettling. There may be some good uses for this but using it to purchase another bank is just not what the doctor ordered. Nor was it in the minds of the Treasury or was it? There have been so many historic moves and most likely moves that have never been made public. Keep an eye on the money trail and your fingers on the key board to protest the newest move by … (2 comments)
mult ifamily: Multifamily Investment Rent roll form
- 10/21/08 03:39 PM
I received 2 calls this week from mortgage brokers requesting a blank copy of a multifamily rent roll. On our web site at www.themultifamilyexperts.com, you will find free forms to use. The page is located at: http://www.themultifamilyexperts.com/Resources Rent roll forms should be complete and accurate. Multifamily investors should always have the historical rent roll occupancy handy. Rents should have a stabilized occupancy for at least 90 days but 6 months is preferred. The New 2009 Multifamily Credit Crunch Guide is on line now with the most up to date real estate investment guide available. If you own income producing property, this … (0 comments)
mult ifamily: When Banks hoard cash: Part 2
- 10/15/08 06:45 AM
When Banks hoard cash: Part 1 http://activerain.com/blogsview/716392/When-Banks-hoard-cash The historic meeting of the 9 banking CEO’s came with a surprise for most of them. Taking a page from the Godfather, each of them was offered a deal they couldn’t refuse. They were handed a one page document requesting their signature and agreement to sell bank shares to the government. It only took 3 ½ hours to convince all to sign. Several CEO’s were not receptive to it but most were ready to sell for the capital injection (TAXPAYER MONEY) of $250 Billion. I’d like to have been a fly … (5 comments)
mult ifamily: Another historic FED move!
- 10/08/08 07:49 AM
The Federal Reserve Bank dropped their Fed Fund rate by .50% today. What made this a historic was because of the coordinated move with all of the world's central banks at the same time including China. Japan and Australia have made similar moves but issued statements of support. Russian on the other hand dances to their own beat. Dropping central bank rates has immediate global impact in this environment. Coordinating the drop and statements at the same time indicates the concern of almost all governments over the current crisis. The real positive is the fact we did have a coordinated move … (0 comments)
mult ifamily: MBA reports Multifamily investments performing well
- 10/02/08 05:14 AM
Well darn......a little good news for my multifamily investment market again. I'll take any good news for now. The Mortgage Bankers Association (MBA) confirmed the multifamily investment market is still performing well for both investors and lenders. Although we have seen a small rise in multifamily delinquency rates in the second Q this year, last year was a record low in comparison for investors. The rise was less than expected though. Our financial resources of CMBS, Fannie Mae, Freddie Mac, Life Insurance and commercial banks all reported lower than expected delinquencies given the environment. All together this financial group holds … (2 comments)
mult ifamily: If I was President
- 10/01/08 10:20 AM
I’m rethinking the decision to let Lehman Brothers fail now. Really didn’t consider what that has done to the short term bond market investors who fund major corporate debt. Didn’t pay enough attention to that and now some really big companies can’t roll their short term debt. My bad. We have too many accounting loopholes and these off balance sheet investments things. The failing banks seemed to have great balance sheets but they were rigged. Investors have no faith in them now. I hate it when my bank uses funny accounting rules and stuff to make a buck. Speaking of accounting … (3 comments)
mult ifamily: The history of a "Resolution Trust Corporation" and bail out
- 09/24/08 06:41 AM
You have probably heard of the bailout but how much is known about this RTC entity? The Resolution Trust Corporation (RTC) was enacted due to the failed thrifts and Savings and Loans debacle which came to a head in 1989. What many don’t know is the RTC was the brain child of a brilliant management group leading a small bank called North Carolina National Bank (NCNB). First Republic Bank in Texas was the largest bank in the state. I had the unfortunate pleasure of working for the bank almost 10 years before it became the largest modern day bank failure … (5 comments)
mult ifamily: Multi family investments standing by:
- 09/23/08 11:07 AM
Multifamily investments and lending came to a standstill in the past week as the commercial real estate market tries to understand the impact on future lending and criteria. The multi family portfolio is impacted simply under the “guilt by association” influence. J. Christopher Hoeffel, president of CMSA (Commercial Mortgage Securities Association) remarked in a conference that the underlying default rate of the CMBS market is only .47% That’s less than ½ of one percent in case you don’t have your calculator handy. And that is for all property types. Multifamily investment types are even less. What it all means is multi … (4 comments)
mult ifamily: Financial history made today.
- 09/17/08 07:49 AM
Market investing takes another back seat to the government today. One veteran trader said, "no one on the planet could have anticipated this week". The market continued its historic upheaval today with the government bailout of AIG. Although the government declared it was not "nationalizing" AIG, it does in fact own 79.9% as well as control dividends. Taxpayers may never know how critical the decision was to stabilize the market. Call it what you want, but the government stepping in to in effect take control of AIG would have been insane a few months ago. The takeover of a public company … (4 comments)
Multifamily investments and straight talk from a Senior Underwriter, Banker and Lender. Rick Fitzgerald and AAM Capital (www.themultifamilyexperts.com) covers multi family investments, banking news and commercial real estate. Find out what we can do for you by calling us today.
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