Not really sorry, because I would say response rates are actually higher on a Saturday than a Monday. Business owners and RE operators are busy on a Tuesday at 2pm. Keep offering.

Random request - any good RE lenders doing sub $10mm loans on San Antonio multi deals?

Bentonville AR is just starting to see amenitized, Class-A product a Dallas, Nashville, Austin has too much of. The difference is the product is limited and rents are still affordable. One of the few markets Class-A is set up to lease units quickly and at above underwritten

I don’t believe in being a generalist Sunbelt Buyer. The more you can buy in one market, the more leverage with everyone. Other owners, investors, lenders, brokers, your operations. When other owners follow up with you, they know you can be a real buyer.

Less than 1 acre sold for $4M in January. NW Arkansas. Location is everything.

Recently got asked why I am making very large GP contributions. My answer is simple, I want to own as much of the common equity as humanely possible. The deals cash flow, we self manage them, they are bought off market, and they are bought in markets with sub 2% vacancy.

Everyday a deal doesn’t sell that you want, it is you vs everyone in the market to grab it. If it’s not you it’ll be someone else. Don’t be afraid to offer.

If you know which property managers are horrible at leasing and managing. You have the answers to the test on which owners most likely are not enjoying owning their real estate. Go to their management website and hammer all those owners. Odds are in your favor.

Seeing free rent as not only desperation right now, but a landlord who is tight on cash. Owners who are not concerned about cash flow will hold out for their rent. If you are looking at deal and they are advertising free rent, I’d stay stern on your offer, owner is probably

Large deposits going into contract has helped get deals signed up recently. Sellers are speculative, especially when they are being asked to sell. If that helps show commitment, don’t be cheap. Negotiating deposits is a waste of time. Negotiate your due diligence and terms.

Starting to see insanely tight cap rates on 2000’s built retail in markets that are healthy. Is sub 6.5% cap for non credit tenant or grocery anchored retail actually the market expectation?

Executed lender term sheet yesterday: 80% LTC 5.95% Fixed Rate 36-mo of interest-only No-prepay or exit fee Make your deal cash flow today and refinance when it makes sense for you.

Stop negotiating your lenders origination fee, let them take it if that helps their internal P&L. Better leverage and terms is a lot more valuable than $40k more in origination fees. Most importantly, that’s how you get the attention when it matters on a new deal.

Negotiating a seller credit is never easy, even harder with no broker after you built a relationship with them. Whoever cares less wins. Personally have never seen 2 partners decline a credit or reduction in price. One of them always needs the money and is committed to the

Don’t know how to start with a virtual assistant? This can be done in any market in the country. Have them go on an area of Zillow and track every week what rentals hit Zillow, what is removed, and what is sitting. Best way to master your market.

If your deals are strong and performing, send your lender a brief asset management report. Doesn’t need to be a bunch of market fluff, but if shows some pictures and real data, not a single lender won’t be appreciative of it and share with their boss.

Bought this 2018 built deal in Wichita for $106,000/unit 2-years ago. Submarket has performed incredibly. 100% leased, underwrote 8% vacancy.

I have said it before - the target seller right now is not the group who overpaid. They are time wasters. The seller is the owner who has owned for 10yrs & tired of operating real estate. He can make a profit and there is probably upside for the buyer.

Just got $200,000 off a $5M deal while I had a $150,000 of non-refundable money up It is a going-in 7.2% cap on 2000s built multi…. Another partnership deal. Very rarely do two partners agree to sell and then hold.

One of my bankers told me they are surprised by 2026 so far. “Only my experienced borrowers are bringing new loan opportunities right now, everyone else is on pause” Take that information for what it’s worth.