Season 10, Episode 1:
Two multifamily operators with very different ways of raising capital agree on one rule: don't flip.
Bob Nicolls owns Monarch Investment and Management Group, a Midwest-based operator of mostly B and C apartments funded by individual investors. John Gochberg is President and CEO of TGM Associates, which has managed money for large pension funds since 1991. They met at a principals-only dinner at the National Multifamily Housing Council conference and now co-host it.
The tension worth tuning in for: Nicolls says the industry's vacancy numbers are misleading, Gochberg wonders whether some of today's trades are the next bubble, and both say the best deals are often the ones you skip.
CHAPTERS
00:00 - Bob Nicolls and John Gochberg Join No Cap
07:00 - How Institutional Capital Entered Multifamily
14:00 - Individual Capital Versus Pension Fund Capital
21:00 - What Makes a Multifamily Deal Worth Buying
28:00 - The Affordable Housing Problem
35:00 - Amenities, Turnover, and Long-Term Operations
42:00 - Is Now Actually a Good Time to Buy?
49:00 - Secondary Markets, Fannie, Freddie, and Financing
56:00 - Building Monarch and Buying a Ski Resort
01:01:00 - Why Consistency Matters in Real Estate
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
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About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.
