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Today's Topics

Multifamily insurance at an all time high :(
Where are institutions buying, and why they aren’t the bogeyman
Midwest rent up again, with only one pandemic boom city still outperforming
InvestNow 2023
SARE Cincinnati Field Trip
SARE Dallas Syndication Field Trip
SARE Dynasty
It Depends Replay. Taxes for House Hackers
SARE Ladies Podcast
Upcoming Events

Premiums at a Premium

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🏠 Insurance costs are at an all time high for multifamily, doubling in the last decade. While this is tied to more expensive major disasters, there is also a notable effect coming from the increase in asset and construction costs.

Takeaways: budget properly! A 3% increase every year in expenses may not be enough, especially for coastal cities.

Big, Bad Blackstone

Credit: Parcl Labs

Fellow coastal elites, the big evil Wall Street landlords are not coming after you. Based on data from Parcl which shows the percentage of potential primary homes that are owned by large landlords, we see they are predominantly competing in the Midwest and Sunbelt.

Takeaways: These large operators must play by the same rules and achieve cashflow like any little investor. The difference is in their operations and ability to execute, happy to discuss with other people in the space. (If you’re looking for good SFH investments, I would leverage the research these firms have already done).

Getting Corny at This Point

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The northeast and midwest markets are on a tear. This is one of the first times I’ve seen Chicago on a top 5 list that doesn’t involve crime. We’re currently refinancing out, and while cap rates are still higher than the Sunbelt, rent growth is taking big strides to increase valuations.

Takeaways: Outside of San Diego, Zillow’s list of top rent performance has a brand new cast.

InvestNow 2023

InvestNow Speaker Group Picture

So much have happened over this month that a major update is in order! On September 23rd, SARE cohosted the InvestNow 2023 conference with Sequoia Real Estate and YRD in San Francisco. A number of our SARE favorite speakers flew from all over to the country to participate in our event, including our very own Nelson Lin, who presented to a full house. This is the second year that SARE has cohosted this event and it gets better with each year!

Nelson Lin on “AI and Machine Learning in Real Estate”

SARE Cincinnati Field Trip

Our Bay Area SARE Homie, Ian Cruz, led a group of 15 investors on a four-day immersion trip to learn more about the Cincinnati real estate market. You might recognize him on stage at SARECON 2023 as one of our “0 to 100” speakers earlier this summer. They toured a variety of different properties, including open houses in East Cincinnati, student rental, STR, and small multifamily properties owned by our Homie Wakefield Li and other local investors. They also attended local real estate networking meetups, Oktoberfest, Bengals game, and walked 10km through Over-The-Rhine, Downtown Cincinnati, and crossed Roebling Bridge to Northern Kentucky. Thank you Ian who organized and hosted the event! Catch Ian @cincycashflow on IG to follow along his real estate journey.

SARE Syndication Dallas Field Trip

Our not-so-secret SARE Syndication Dallas Field Trip was a dynamic and immersive experience, bringing together a diverse group of 30+ real estate enthusiasts from all over the country. Alongside attending the Old Capital Conference, Tony Lin from Link Multifamily arranged insightful meetings with commercial brokers, lenders, bulk suppliers, and property managers, and led us through intriguing apartment tours. We also had Michael Seeto show us around Dallas and took a small group of Homies to go shooting, as well as Chang Liang taking another group to check out a luxury RV camp about an hour away from Dallas.

We were also privileged to gain exclusive insights from our SARE friends - Perry Zheng from Pallas, Hoa Nguyen & Maria Coleman from Blacksteel Investment Group, Ronald Rohde from Law Office of Ronald Rohde, PLLC, Sean Hsieh from Concreit, and Paul Peebles, James Eng and Ashley Cao from Old Capital Lending. They shared their expertise on multifamily apartment lending, partnerships, building a business, and investment relations and capital raising processes. This trip was a remarkable opportunity for our members to learn, connect, and discover potential business partners. Extra boba points for our friends who came straight from our Cincinnati trip to join us in Dallas!

SARE Dynasty

Beyond the SARE Dallas Field Trip, we spent late nights networking, learning from each other and envisioning our futures. We initiated the pilot session of SARE Dynasty, which is designed to establish an accountability circle within a tight-knit, highly driven community. The focus is help individuals, who are not only eager to reach financial independence, improve their physical and mental health, personal relationships and community engagement.

We had Nelson Lin, Lana Nguyen & Rich Kwok, and Dr. Hoa Nguyen gave us a deep dive on their inspirational stories about how they got to where they are today, struggles they went through, financial statements, and goals for their business, physical and mental health, relationships, community service and personal development. This was one of the most intimate event that Nelson and I have ever organized, yet it was our most emotionally fulfilling trip yet. We’ve also started an accountability group to do intermittent fasting, so download this app and join us here. If you’re interested in learning more about SARE Dynasty, fill out the interest form below. We plan to officially launch Dynasty in 2024.

SARE Dynasty Interest Form

It Depends

Check out this month’s episode of “It Depends” featuring Tony Hoong, the CPA Dude, where he goes over the complexities of taxes for house hackers. This recorded session, is a must-watch for anyone looking to maximize their rental income through house hacking while minimizing their taxes. Don't miss out on this opportunity to learn from the CPA Dude himself!

Tune in now

SARE Ladies Pod Squatters

🎧 S2 EP #20 | Business, Bedtime Stories, and Billion Dollar Decisions w/ Jenny Gou of Vertical Street Ventures (VSV)

Dive into a lively and casual chat with Jenny Gou, a Managing Partner at Vertical Street Ventures, where she spearheads company operations and the VSV Multifamily. Listen to her captivating journey of constructing an empire alongside her life partner, and learn about her unique relationship dynamics with her husband, Ronnie, who also held the role of Managing Partner at VSV. Get her perspective on motherhood, understand her experience now that Ronnie has shifted gears to become a stay-at-home husband, and discover how she navigates conversations about wealth with her two children!

Tune in now