Tag: Phoenix

Apartment Building Investors: Everything You Need To Know About AZ Water Rights, Parts 1, 2 & 3

UPDATE Oct. 14: See below for Part 3-

UPDATE Sept. 24: See below for Part 2-

Apartment building investment broker ABI Multifamily’s Research Director, Thomas M. Brophy is out with part 1 of a pretty in-depth ‘overview’ of water rights in Arizona this week (Part 1 of 3). This is important not just because most of AZ is a desert (duh) but because Phoenix is expected to grow by the size of Denver over the next twenty-five years (See Phoenix population to add 2.6 million by 2040, housing supply not keeping up). They’re going to need a lot more apartments but  the biggest limiting factor will be the ability to provide water for that many new tenants.

Water rights critical for Arizona apartment building investors
Source: ABI Multifamily.

Brophy begins with the background so that as the story unfolds we will understand how things got to be the way they are, and most importantly, how to make sure your residents aren’t walking to the town well every morning with a big jug on their heads. Not light reading but it just might give you an edge- See part 1 here: The Motions, Notions and Commotions of Water!  Part 1: Arizona Water, an Overview.

Water Rights for AZ apartment building investors
Source: ABI Multifamily

Part 2 is Continue reading Apartment Building Investors: Everything You Need To Know About AZ Water Rights, Parts 1, 2 & 3

Local Apartment Building Investment Research Reports For 37 US Cities Now Posted by Marcus & Millichap

Requires (free) registration: M&M Research

Here’s a peek at their Phoenix Charts:

Phoenix Apartment Building Rent Trends Q2 2013

Phoenix Apartment Building Vacancy Q2 2013

Phoenix Apartment Building Construction Q2 2013 Continue reading Local Apartment Building Investment Research Reports For 37 US Cities Now Posted by Marcus & Millichap

Private Equity Has Too Much Money to Spend on REOs-to-Rentals Via Bloomberg

An interesting piece from Bloomberg entitled: Private Equity Has Too Much Money to Spend on Homes talking about how hard it is for large funds to buy foreclosed homes in bulk and turn them into rentals reminded me of a conversation I had with one of my private equity clients who was consulted by Tom Barrack’s Colony Capital about doing just that (and he said don’t).

“Funds planning to invest more than $6 billion to buy and rent foreclosed homes are finding it easy to raise money. The difficulty is spending it… The folks that raised capital are worried about under- accumulating properties and how to get capital out in an efficient way, Richard Ford, a managing director in the real estate investment banking group at Jefferies Group Inc., said in a telephone interview. A lot’s being raised. Less than $2 billion of institutional capital has been spent.”

It seems like between the banks’ increasing Continue reading Private Equity Has Too Much Money to Spend on REOs-to-Rentals Via Bloomberg

Return of the Phoenix Apartment Building Bubble?

Is Phoenix apartment building investment overheating already?

Phoenix apartment building investment bubble rising again?

My exec sum from the Apartment Finance Today* article Apartments Rising in Phoenix Again

How to manage online apartment reviews. From the Apartment Internet Marketing Conference last week.

“People are going to have these conversations with or without you,” Wade Hewitt, vice president, apartmentratings.com said. “Engagement can really be a difference maker.”

AIM panel discusses apartment reviews and how to manage them.

In addition to steering the conversation about your property, reviews can also be used to see what other communities are doing right. “Use reviews to find out about your competitors and about what people like,” Erica Galos-Alioto, vice president, local, Yelp, said.

Negative reviews can also be useful to property managers. “Every review has some truth,” Patrick Grandinetti, head of real estate, Google, said. “If not, someone wouldn’t have posted it. Getting a bad review is a fact of life… so if you get a bad review, it helps ground you in reality,” he said.

Ultimately the panelists agreed that the most important thing is to engage your residents. Continue reading How to manage online apartment reviews. From the Apartment Internet Marketing Conference last week.