Mike Taravella and co host Will Coleman interview Bill Ham, Chief Operating Officer at Broadwell Property Group.
Key Information:
Bill has been focusing on newer assets (primarily 1985 and newer)
Not focusing on major capital expenditures that don’t have any ROIs (Plumbing)
Bill is also focusing on long-term holds
Bill anticipates a 15-20% reduction in multifamily valuations
Collections in April have been consistent with the previous month but is anticipating a slowdown in May
The reserves required for financing is very costly equity and ruin cash returns
Bill focuses on 2 creative financing options: seller financing and master leases
Seller Financing requires zero or minimal existing debt, market rate interest, interest-only term, 15-20% down, 18-24 month terms.
Instead of using down payment, leverage capital expenditures in an escrow.
Master leases have more risks because you are a renter and the landlord may not accept your purchase price
Expert Pro Tip: Focus on your competency and become more proficient with them.
Contact Information:
https://broadwellpropertygroup.com/
bill@broadwellpropertygroup.com
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