Owning Real Estate When Inflation is Zero

December 23, 2013

The year 2013 may be the first year on record when the U.S. inflation rate is registered at zero. The closest we have come to the goose egg in recent times was in 2009 when the official inflation rate was 0.1%.

Read the full article →

Multifamily Demographics: Creating a Sense of Place

December 16, 2013

Where did you grow up? Urban or rural there is a place (or places) that make you think of home. What are they and what do they represent? Collectively, they are more than just a single address.

Read the full article →

Property Management: What is the Composition of Your Ancillary Income?

December 10, 2013

Of course you know your revenue sources- rents and other income, or ancillary income. But what’s the next level of analysis? Is each source being maximized? Does your stated lease rent match collections on the rent roll? How many ancillary income sources do you presently utilize? What can you add?

Read the full article →

Multifamily Acquisitions: Five Deal Questions

December 2, 2013

This post is a departure in that these “deal questions” I am asking you to consider have little to do with the nuts and bolts of buying a multifamily asset; they are specific to your long-term strategic thinking about your purchase.

Read the full article →

Property Management: Multitasking versus Delegation

November 19, 2013

Multitasking has limited value in our business as compared to delegation. In too many instances these two management tools are confused with multitasking gaining credit when delegation is the real productivity engine.

Read the full article →

The 1031 Dog That Has Yet To Bark (Again)

November 9, 2013

According to an article in NREI there were $4.1 Billion dollars in 1031 exchanges in 2007. In 2010 that number was $1 Billion dollars. While it has inched up since, it is nowhere near pre-recession peak volume.

Read the full article →

Connecting Rent Growth to Job Growth

October 28, 2013

Are you looking for rent growth? Follow the jobs. It seems like such a simple concept. Then we remember that jobs are mobile too and the theory becomes a little more ethereal.

Read the full article →

What is a Rent Roll?

October 21, 2013

When buying a rental property you are in essence buying the rent roll and the monthly income that comes with it. There is no room for the word “if” in due diligence of rental property acquisitions. There is too much money at stake. And if you are buying rental property, then the money at stake is probably yours.

Read the full article →

Property Management: Disrupting Vacuam (Vacancy)

October 8, 2013

Vacuam is Latin for empty space. In the property management business we live and breathe around occurrences of empty space. How do we disrupt vacancy? The first order of business is to determine the source of vacancy. Next, we need to know average vacancy, then aggregate vacancy.

Read the full article →

The Multifamily Footprint in The United States in 2013

October 1, 2013

What percentage of the housing stock in the United States is represented by multifamily? In a country of over 314 million people fully one-third live in rental housing. So how many multifamily dwellings are there in the United States, really?

Read the full article →

Multifamily Acquisitions: Local Market Knowledge

September 23, 2013

When reviewing real estate for purchase there are varying types of local market knowledge; knowledge of the physical asset, the property around the physical asset, knowledge about the market, the submarket and the people who live and work close by. How deep is your local market knowledge?

Read the full article →

Multifamily Acquisitions: Buying Class

September 17, 2013

People within the industry have strong opinions about asset class differentiation. I”m referring to designating assets as Class A, B or C. Following is a synopsis of multifamily assets and distinctions between A, B and C.

Read the full article →

Demographics and Census 2020

September 9, 2013

Will we have a Census in 2020? Sure. Will it have any value? It’s too soon to tell. As government looks for places to cut expenditures the Census is ripe for slicing as there is no strong advocate within government to champion the cause. Multifamily and new home builders need to know the direction of populations.

Read the full article →

Guns N’ Butter and Housing

September 3, 2013

Is there a connection between war and when housing cycles recover in the greater economy? The guns versus butter argument revolves around the theory that any society has limited resources and we have to choose wisely how they are deployed.

Read the full article →

Finding the Best Renters: By the Numbers

August 27, 2013

A recent study of Experian RentBureau data found that more than 50,000 renters who initiated their leases over a six year period ended their leases owing money.

Read the full article →