How Odyssey Properties Group finds 'needles in a haystack' in North Texas' multifamily market - Dallas Business Journal

Implementing a capital improvement plan while not pricing people out of their communities? In this economy?

“It feels good to bring a level of amenity to these communities that people want. It’s difficult to do under your current capital structure as an owner.

Multifamily was one of the darlings of the investment community last year, but market conditions are more complicated right now. Why are these still compelling transactions that you can add value to? We underwrite 3,000 deals a year, and we’ll buy four to eight per year. We're looking for needles in the haystack, and these recent acquisitions in Dallas fit the bill.

What makes it difficult for us is not only am I looking for a needle in a haystack, which is our ordinary course of business, I'm looking for the 20% of sellers that are willing to meet the market and acknowledge that interest rates have caused a change in borrowing costs for buyers. I still don't think that the majority of sellers are willing to do that.

I have an old client who is a developer, and he used to say, “The thrill is in the ‘create.’” He was talking about why we do certain kinds of business, and as a developer, he found that thrill was in the creation.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

New projects in North Texas for Sept. 20 - Dallas Business JournalHere’s a look at the latest new projects registered in North Texas with the Texas Department of Licensing and Regulation, a list of new construction, renovations and alterations in Dallas, Fort Worth and beyond. All projects listed are public records.
Fonte: DallasBizNews - 🏆 525. / 51 Consulte Mais informação »

The Small Business Administration outlines financial help after North Texas floodsNorth Texas homeowners, businesses, nonprofits, renters and car owners with economic losses and property damage from the August floods can now apply for...
Fonte: dallasnews - 🏆 18. / 71 Consulte Mais informação »

Blue Tide Environmental expanding, redesigning gulf shore base oils recycling plant - Dallas Business JournalThe scope of Blue Tide's plant in Baytown has changed a lot since plans for the project were first unveiled. Blue Tide itself has also changed a lot since first launching as The Woodlands-based TopSail Energy LP in 2016 with a $100 million commitment from Dallas-based private equity firm Tailwater Capital LLC.
Fonte: DallasBizNews - 🏆 525. / 51 Consulte Mais informação »