MultiFamily Deal Talk Podcast with Kevin Parrish

Analyzing a 52 Asset Syndicator Portfolio and Finding Equity in Specific Properties with Matt Wideman (Ep. 7)

A very unique deal and conversation on today's episode with my good friend Matt Wideman. Matt joined Newmark in 2015 as a Transaction Manager with significant experience in the industry including acquisitions, dispositions, asset management and property management as well as development and capital markets analysis. Matt graduated cum laude with a Bachelor of Business Administration degree in finance from Southern Methodist University while being a starter on the SMU men's soccer team where he competed in the College Cup. After a short stint in Major League Soccer (MLS), he began his career in commercial real estate. In today's discussion, we look at a portfolio by a syndicator that was having some issues with profitability that kept buying properties to stay afloat. Matt and his team looked at each individual deal to find equity in some of the 52 assets and the rest you'll have to find out in the episode! Time Stamps: (1:21) Matt's Bio (3:32) Why Multi-Family? (4:51) Matt's Deal (7:52) Average Vintage (18:20) Issues With The Deal (22:52) Business Plan and Exit (26:25) Overcoming Challenges (33:22) Summary (37:08) One Thing Matt Would Change (44:55) Buy or Sell ------------ Follow Me on Instagram: https://www.instagram.com/kevparrish/ [https://www.instagram.com/kevparrish/]

Wildest Investment Deals and Analyzing an Over $700 Million 20+ Property Deal with Will Givens (Ep. 6)

As you know, we talk deals on this show to give you some of the nuance and steps that sometimes go overlooked. While we do dive into another deal on today's episode you won't want to miss, we also talk about some wild deals as well. Will Givens is a Senior Vice President in the Dallas-Fort Worth Debt and Structured Finance division at Colliers. He specializes in structuring and negotiating real estate financing for corporate clients and real estate investors. He has an extensive background in business development, loan origination, and equity placement. Prior to joining Colliers, William was a Vice President at CBRE's brand Capstone Financial. Him and his team have originated, structured, and closed over $12+ billion in real estate loans for a broad range of commercial asset types including single and multi-tenant retail, multifamily, industrial, mixed-use, office, hospitality, and healthcare. Time Stamps: (1:20) Will's Background and Intro (4:15) Knowledge and Diversity Within The Real Estate Industry (5:34) Unique Previous Deals (10:36) Wildest Deal (14:50) Why Multi-Family? (17:00) The SAFE Method (17:14) Will's Deal (19:36) Size and Number of Units (26:44) How Offer Was Received (29:27) Financing and Going To The Market (40:10) Leverage on Deal (43:02) Timeline (50:32) One Thing to Change in Multi-Family (52:20) Advice for Getting Into the Business (55:48) Future of Multi-Family (1:00:00) Buy or Sell (1:04:18) Where to Find Will ------------ Follow Me on Instagram: https://www.instagram.com/kevparrish/ [https://www.instagram.com/kevparrish/]

Analyzing a 286 Unit Multi-Family McKinney Property with Chris Mendenhall (Ep. 5)

Another great deal talk this week with my good friend Chris Mendenhall. Chris is the Senior Vice President of Investments at ClearWorth Capital, a University of Arkansas at Fayetteville Alum, and has a wealth of knowledge and experience in the commercial real estate game. He brings an interesting deal to us and, like our previous episodes, we'll run it through my SAFE method, analyze the deal, explain the investment to exit timeline, and have some fun questions at the end as well. Time Stamps: (1:19) Chris's Bio (3:17) Why Multi-Family? (4:48) The SAFE Method (4:57) Sourcing The Deal (8:36) Analysis of the Deal (10:42) Investment to Exit Timeline (13:47) Structure and Financing (16:30) World Shutting Down During COVID (31:02) The Result (34:22) One Thing to Change in Multi-Family (36:12) Advice Getting Into The Business (37:29) Future of Multi-Family (39:22) Buy or Sell (44:20) Where to Find Chris ------------ Follow Me on Instagram: https://www.instagram.com/kevparrish/ [https://www.instagram.com/kevparrish/]

7+ Year 10 Million Dollar Deal Through Pleasant Persistence with Ford Braly (Ep. 4)

Today's deal is a perfect example of the reason I started this podcast and I hope you really enjoy it. Ford Braly, First Vice President of Investments at Marcus & Millichap, joins me to talk nuance and specifics on one of his favorite deals that lasted over 7 years to finally complete. We'll discuss everything through my SAFE method, details and why it took so long, and end with my game Buy or Sell. Time Stamps: (1:22) Ford's Bio and Achievements (3:15) Why Multi-Family? (5:07) SAFE Method (5:17) Sourcing Ford's Deal (10:52) Time Frame of the Deal (13:47) Exclusive Agreement Explanation (17:10) Pursuing This Deal for 6 Years (18:52) Analysis and Details on the Property (24:04) Price of Property (25:57) Then The Storm Came (32:26) Second Marketing Effort (36:20) Second Financing Process (39:56) Financial Details and Due Diligence (42:43) Exit Strategy (46:57) Wrapping Up (49:40) Pleasant Persistence (50:02) Future of Multi-Family (52:02) Buy or Sell (56:17) Where to Find Ford ------------ Email Ford at: ford.braly@marcusmillichap.com ------------ Follow Me on Instagram: https://www.instagram.com/kevparrish/ [https://www.instagram.com/kevparrish/]

Breaking Down a $70,000,000+ Deal to a Private Buyer with Richard Furr (Ep. 3)

I've got another special guest and interview with a dear friend and a deal talk that you won't want to miss. Richard Furr is an Executive Managing Director at Newmark and joined the Dallas investment brokerage team in 2011. During his 25 year career, he has been responsible for over $1 billion in multifamily transactions; this includes ground-up new development, value-add acquisitions, and core asset acquisitions. Furr is a graduate of Texas Tech University and received a master's degree in Land Economics and Real Estate from Texas A&M University. In this episode, we discuss one of Richard's favorite deals through my SAFE method, how the deal was awarded to a private buyer, thoughts on the multi-family industry, and more! Time Stamps: (1:23) Richard's Bio (3:57) Why Multi-Family? (5:38) Richard's Deal and The SAFE Method (12:09) Demand For These Deals (13:48) Marketing Process (18:01) How the Deal Was Awarded (24:37) One Thing to Change About the Multi-Family Industry (26:58) Recognizing the Long Game (29:27) Buy or Sell (35:19) Connecting with Richard ------------ Follow Me on Instagram: https://www.instagram.com/kevparrish/ [https://www.instagram.com/kevparrish/]