Unlocking Hidden Goldmines: Why Now Is the Perfect Time to Dive Headfirst Into Multifamily Investments (We’ve Already Started)
Kathy:
Well, I’ll just give you an example of the build to rent community, which isn’t an apartment, but it is commercial debt. So when we underwrote that deal and my underwriter is excruciatingly conservative, painfully such that over the four years everything was turned down. Even deals people are bringing me today, it’s always a no, I just kind of expected. So with our build to rent, it was a yes, and one of the reasons was the numbers still worked when he underwrote it to a 9% rate, and that’s on construction. And then the refi at a high rate too. Now the construction loan came in the high sixes. So already off the bat we’ve saved ourselves hundreds of thousands of dollars.
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