multi family investing: The AMERICAN BAILOUT - 10/26/08 10:36 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)
This guide is useful whether you are a Multifamily Investor or just own rental property. Listing or selling agents may be interested in getting a peek at rental rates, income and expenses in this current environment.
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multi family investing: Wow! More historic Fed moves... - 10/14/08 12:27 PM
The Feds made yet another historic move in gathering the largest bank CEO’s to a meeting in Washington. The meeting was to go over details of the latest government move. The Feds will purchase preferred stock in the nine largest banks and expand from there. Several of the banks were Citigroup, Inc., Wells Fargo & Co., JPMorgan Chase & Co., Bank of America as well as Morgan Stanley. Not included in the statement was Goldman Sachs but I’d bet $1 that they will receive some of the initial money as well. Due to Treasury Secretary Paulson’s history with them and working … (1 comments)
multi family investing: MBA reports Multifamily investments performing well - 10/02/08 12:14 PM
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)
multi family investing: When Banks hoard cash....... - 09/30/08 02:22 PM
The Feds are scrambling hard these days to “save the economy”. I think that’s a fair statement to make. When the big, rich and powerful begin to lose money and fear they will lose more it really does illustrate the trickledown economics applied to Main Street. No money trickles down for anyone and my multifamily investment market along with every other market is affected even though the government is pleading with banks to part with their cash. Actually it took me awhile to realize Main Street was me and you. The credit market (unfortunately including my beloved Fannie … (6 comments)
multi family investing: Glass-Steagall Act- Your gonna hear about this. - 09/15/08 09:58 AM
Lehman Brothers did in fact file Chapter 11 Bankruptcy. The rest of the investment banks who have not made arrangements have certainly been put on notice. If you do some research, you will find the seed of this all lies from an back in 1999 and the Clinton Administration. Without being political about accusing them, the following link from Wikipedia helps explain what it was and what it allowed. The rest is almost history. This will be a terrible week for the financial sectors and the economy. The link:
http://en.wikipedia.org/wiki/Glass-Steagall_Act
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multi family investing: Multifamily property sales post gain - 09/04/08 03:54 PM
Multifamily property sales posted a 20% sales gain month over month since March despite an overall YTD commercial real estate investment drop of 70% in sales from last year. Chattanooga, Georgia and Tennessee sales have been slower than the national reporting averages due in part to the previous recent growth in the past 3 years. The combination of growth and lack of investor capital has made the market very quiet. Real estate investment properties producing income that is not related to retail or office are out performing other property types as the credit crunch continues to put a stranglehold on sales. Most of the … (2 comments)
multi family investing: Multi family investing: Tenant retention - 09/03/08 09:38 PM
Going back to the basics for multifamily investors and property managers not only can save you money but increase your bottom line. Owning an apartment complex or managing one can be expensive if your game plan is simply offering concessions and other promotions to attract new tenants. Obtaining new business is of course great but the cost to attract new tenants is an expense multi family owners would rather not pay. And the additional expenses of cleaning, repairs and marketing all add up to losing money. Exiting tenants can sometimes harm your bottom line as well. Word of mouth … (1 comments)
multi family investing: Multifamily investing-Pro formas ain't cutting it. - 09/02/08 09:56 AM
You are considering a multifamily investment and the seller has provided you with a "pro forma" statement. What exactly does that mean anyway? Consider reviewing the investment guide information for the current market. A pro forma financial statement is generally a reference to a property's potential rather than its actual performance. It is often utilized in multi family investment purchases. Potential doesn't translate well in underwriting and value these days unless the property has something unique about its history such as being new or recently rehabbed investments. Potential isn't cutting it in underwriting. Underwriting is basically the act of trying to look … (2 comments)
According to the article, multi-family investment sales are accounting for the biggest cause of the drop. Capital sources are tighter and some have exited the market entirely. A large increase in sales the previous 3 years had an impact, perhaps a trend that could not be sustained. Our experience is still buyers, agents and sellers are on a different page when negotiating a sale helping the drop. The lending market and economy has affected values in many markets. For instance,the local Chattanooga market has retained value but the expected expenses … (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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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.;)
;)
