Disqus - Latest Comments for joestampone

Re: What’s Going on with Multifamily – August 2020

Joe Stampone — Tue, 25 Aug 2020 20:31:27 -0000

Thanks Bruce. I really enjoyed your latest video with Peter Linneman. Always great stuff!

Re: What’s going on with Multifamily Collections?

Joe Stampone — Wed, 03 Jun 2020 10:59:45 -0000

Thanks Jake. No, I don't expect businesses to operate 'normally' prior to a vaccine, but do expect the economy to continue to open back up and for many jobs (especially in the hospitality and service sector) to come back. The election is just another unknown, with several potential outcomes and implications for each. I recommend the latest Marks memo for more thoughts on the topic on an uncertain future - https://www.oaktreecapital....

Re: What Happens to Class B/C Apartment Investments During a Downturn?

Joe Stampone — Wed, 29 Apr 2020 21:40:03 -0000

Thanks Dragos. I think you're asking if the demand for Class B will increase as the pricing looks relatively more attractive? If that's the case, I'd say yes. As the spread between Class A and B housing expands, I think the demand for class B apts will increases.

Re: What Happens to Class B/C Apartment Investments During a Downturn?

Joe Stampone — Wed, 29 Apr 2020 21:32:10 -0000

CBRE has put out some good data (see below). Class B revenue was less impacted than class A & C, but Class A maintained lower vacancy.

Class A assets had the deepest revenue fall from prior peak to trough: -13.4%. Class B fell 9.1% and Class C fell 11.4%. However, Class A experienced a pronounced recovery.

Class A and B assets maintained lower vacancies than Class C during the last recession. Class A improved slightly faster than Class B. Class A vacancy peaked the earliest and began to recover the earliest, with Class B trailing close behind. Class A vacancy recovered to its pre-recession level faster than Class B. Class C vacancy rose over a longer period than both Class A and B and its recovery was longer.Class B and C have lower vacancies moving into the 2020 recession than they did going into the 2008 recession, producing a small cushion for the bumpy ride ahead. Class C's lowest vacancy in the past cycle was 5.2% (Q3 2006) compared to 3.6% in Q4 2019. Class B's lowest pre-2008-recession rate was 4.5% compared to Q4 2019's 4.1%. Eviction moratoriums and government cash payouts over the coming months will also help preserve vacancy levels (but not necessarily property NOI).

Re: What Happens to Class B/C Apartment Investments During a Downturn?

Joe Stampone — Wed, 29 Apr 2020 21:28:53 -0000

I believe that's the general thesis. On top of that, it seems more likely for class A residents to move to class B than class B to C. I'm still not sure though.

Re: Thoughts on COVID-19 and the Impact on Workforce Housing: March 22nd, 2020

Joe Stampone — Tue, 21 Apr 2020 15:13:59 -0000

April was better than anticipated. Across our 5,000 units of largely workforce housing, we've collected 90% - 95% of rent. Properties in FL have been hit the hardest as that area is largely driven by tourism and has been slow to distribute unemployment benefits. May is likely going to be worse, but not sure how much worse.

Re: 10 Multifamily Predictions for 2020

Joe Stampone — Thu, 16 Jan 2020 14:07:10 -0000

Hi Percy, the CID Design Group publishes a great trends in multifamily design. You can see it here - https://issuu.com/ciddesign...

Re: The Bearish Case for Multifamily

Joe Stampone — Sun, 27 Oct 2019 13:10:52 -0000

Sounds great, Danny. I hope to make it back to Sydney, one of the most beautiful places I've visited.

Re: Passive Real Estate Investment Opportunities for Non-Accredited Investors

Joe Stampone — Sun, 27 Oct 2019 12:49:06 -0000

Hi Jon, you're correct. CrowdStreet is only open to accredited investors. In my conversations with them, they have no intent to open up the platform to non-accredited investors.

Re: The Key to Multifamily Asset Management: Controlling Costs and Creatively Adding Value

Joe Stampone — Tue, 16 Jul 2019 14:21:00 -0000

Thanks @Sam Eaton. I think your spot on with your assessment of Acquisitions vs. AM. I'm also of the mindset that AM experience improves your acquisition skill set and vice-versa.

Re: The Bearish Case for Multifamily

Joe Stampone — Wed, 26 Jun 2019 14:11:27 -0000

Thanks @Danny. Which asset classes and strategies do you invest in? I'm curious to hear what you're seeing in the market.

Re: The One Book Every Student of the Real Estate Game Must Own

Joe Stampone — Sun, 13 Jan 2019 21:36:02 -0000

@Chaz Heasley what's the URL of your blog? I'd love to check it out. You won;t be dissapointed with the book. Although it's technically a text book, it's also an enjoyable read.

Re: The One Book Every Student of the Real Estate Game Must Own

Joe Stampone — Sun, 13 Jan 2019 20:19:56 -0000

@Candle Lockett thanks for the comment. I think this is the single most important book for any real estate professional.

Re: Where do Great Real Estate Deals Come From? 3 Real World Examples

Joe Stampone — Sun, 13 Jan 2019 20:19:11 -0000

@Christopher Kawaja I have no doubt that's the case.

Re: What Happens to Class B/C Apartment Investments During a Downturn?

Joe Stampone — Sun, 04 Nov 2018 14:23:30 -0000

Hi Bob, the chart is from Joseph Pagliari's publication, Thoughts on Real Estate Pricing. You can find it here - http://faculty.chicagobooth....

Re: New ASotREG eBook – 19 Real Estate Investors Share their Top Passive Real Estate Investing Tips

Joe Stampone — Tue, 21 Aug 2018 17:33:34 -0000

@danny glad to hear you enjoyed the eBook. Tracking down submarket -level multifamily data can be tricky as it's typically held by paid sources such as Axiometrics, REIS, Costar, MPF, RCA etc. You can do things the "old fashioned" way and call local brokers. You can start with the big boys (JLL, CBRE, NKF etc.) or call smaller shops such as Marcus & Millichap. Let me know if there's anything specific I can help with.

Re: Value-Add Multifamily Deal Screening Checklist for Passive Real Estate Investors

Joe Stampone — Tue, 10 Apr 2018 09:13:19 -0000

Glad to hear it's useful. Sure, I'd be happy to draft posts for other Property types. I'll likely start with office and retail before moving on to other specialized assets. In the meantime, feel free to reach out to me directly by email with any specific investing questions.

Re: The Many Futures of Urban Living

Joe Stampone — Sun, 08 Apr 2018 14:48:25 -0000

@Danny Haber done! I'd love to learn more about the idea and where you see it headed long-term.

Re: How being an Expert Generalist will Help you Succeed in Real Estate

Joe Stampone — Sun, 01 Apr 2018 18:55:45 -0000

I've listened to a few, but not a dedicated listener. Do you have a few favorite episodes?

Re: The Many Futures of Urban Living

Joe Stampone — Fri, 30 Mar 2018 09:53:35 -0000

Hey Sean, that's awesome. Where are the projects?

I don't think the desire to have more space is anything new, instead it's happening later in life; people are renting longer (after living at home with mom and dad for a few years), getting married later, and having kids later (if at all). All this extends their time in the renter pool.

Re: How being an Expert Generalist will Help you Succeed in Real Estate

Joe Stampone — Mon, 12 Mar 2018 23:09:38 -0000

@@John Coe awesome suggestion. I hadn't heard of that blog. Here's a relevant write-up on mental models - https://www.fs.blog/mental-...

Re: Why we Prefer Value-Add Deals and Long-Term Holds

Joe Stampone — Sun, 15 Oct 2017 15:24:23 -0000

Hi @Giuliana Isaksen, sorry for the slow response. I'll shoot you an email directly.

Re: Why we Prefer Value-Add Deals and Long-Term Holds

Joe Stampone — Sun, 15 Oct 2017 15:19:18 -0000

Thanks Matt. I see your firm owns a multi deal that's a comp to a deal we own in FL. I'll shoot you an email. It'd be great to connect.

Re: Why we Prefer Value-Add Deals and Long-Term Holds

Joe Stampone — Tue, 03 Oct 2017 18:41:03 -0000

@Giuliana Isaksen wise words from Mr. Crow. The challenge remains accessing permanent capital sources. While real estate is best held long-term, in my view, it's difficult to find capital that enables that business plan. What's the name of the group out west you're referencing? I love seeing different business models...

Re: Passive Real Estate Investment Opportunities for Non-Accredited Investors

Joe Stampone — Sun, 17 Sep 2017 12:11:27 -0000

@disqus_Om2Xj5Pac1 I haven't spent any time reviewing Rich Uncles, but it's a public non-traded REIT similar to Fundrise and MogulREIT. The quality of these investments, in my opinion, comes down to their deal-sourcing ability and execution. Here's a good review from Investor Junkie - https://investorjunkie.com/...