The Build-to-Rent Show: Recent Episodes
Steve Olson, Chase Leavitt, Sherida Zenger
Welcome to the Build-to-Rent Show! You've likely heard one of our hosts featured on another real estate podcast. Who doesn't love hopping on a call with shows like the Real Estate Guys, Get Rich Education, and more? While those channels are incredible and a huge blessing to the real estate community—we've been longing for a show that exclusively discusses the strategy of building-to-rent. So we made one. In this podcast, Steve Olson, Sherida Zenger, and Chase Leavitt break down strategies, discuss past/present deals, and bring on guests to help investors grow and develop within the build-to-rent market. Our three hosts have a combined resume of more than 25 build-to-rent developments, resulting in over 4,000 doors of residential multifamily in the last decade. The U.S. and its growing need for affordable housing have become an increasingly popular investment strategy for the mom and pop investor, full-time real estate professionals, and major institutions. This podcast is a way for both new and experienced investors to master the build-to-rent niche. (Steve Olson, Sherida Zenger, Chase Leavitt)
Maybe you know what to build, but do you know WHERE to build? There are plenty of factors, like local rents, customer base, product availability... The list goes on and on!
In this episode the team discusses the current state of the market, cap rate swings, price reductions, and how to choose where to build!
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The title of this episode is fairly self explanatory, but figuring out what to build can be tricky. You have to consider the market, what the city will allow, and what other amenities renters are looking for.
In this episode the team discusses single family vs. multifamily unit discussions, talk about working with local government, and... $200 pickleball paddles?
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Happy New Year! Here's to a year with stabilizing rents, lower interest rates, and better cashflow! At least, that's what we're hoping ;)
The team talks for the first time in the new year about if rents are stabilizing or if we should expect volatility for a while longer, information from people with boots on the ground, and how devastatingly HOT it gets in Arizona!
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Last the team talked about rents in October, they were softening to adjust for inflation's affect on renters. Now, a couple months later, with more time to acclimate to rising costs, where do rents sit?
The team discusses where rents have gone over the past couple months, and where they might go in the future. They also address how the shortage of electrical panels affects build to rents, especially multifamily units, all across the globe.
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There are a lot of opinions floating around about the state of the market and how consumers, builders, and investors are responding. We wanted to boil that down into some hard data!
The team discusses the results of a cutting edge survey created by Scott that was sent out to multi-family home investors. The survey revealed some interesting things about cap rates, what makes a good deal in a volatile market, and would the participants be willing to be an all-cash investor.
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Though rates have been fluctuating all through 2022 and have started to come down over the past month, there is still room for a lot more havoc in the market.
The team discusses how to combat these wild interest rates and the merits of buying down rates and additional fees to help weather the storm. A lot of people say they have powder ready for "when there's blood in the streets," but will they actually be ready to deploy when the time comes?
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With higher prices and rates rising, consumers have to be more particular with how they choose to spend their hard earned cash than ever, especially compared to early 2022. How are renters responding to increased costs due to inflation and how did the Covid-19 pandemic play a part in this?
In this episode, the B2R hosts continue their discussion about the effects of the Covid-19 pandemic on inflation and how buyers, builders, investors, and tenets are reacting to an ever changing market.
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Covid-19 was, and still is, one of the biggest events of this millennia. It's impact is still being felt across the globe in a multitude of ways, despite nearly three years having passed since its inception. How did Covid-19 shape the current tumultuous market, and more importantly, how can that help you inform your decisions when it comes to your rentals?
In this episode, the B2R hosts discuss the tremors that we are still feeling from the Covid-19 pandemic and speculate on what's yet to come for 2023...
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February and March of 2022 brought some of the best interest rates in U.S. real estate history. Fast forward to December 2022 and the entire market has changed.
In this episode, the B2R hosts discuss coming down from one of the highest highs in the market to rising rates and less demand and how to adapt and weather through the storm.
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You've waited a long time for your new construction multifamily investment to finish. Your certificates of occupancy have finally arrived. Now it's time to fill each unit with tenants and get your property cash flowing. What's the best way to go about it?
In this episode, the B2R hosts discuss lease-up, property management, incentives, rental income, and more as they reflect on current and past projects.
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It's 2022 and investors around the country are wondering what's going to happen with real estate, mortgages, rents, material costs. We've noticed a few key indicators that are especially important to keep your eye on. One pain point particularly relevant in today's market is lumber. Lumber prices are creeping back up again. What do the latest headlines say?
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A breakdown of the process we went through during a recent build-to-rent project in Payson, Utah. The development consisted of 24 new construction fourplexes in a stacked flat floor plan. This project had its ups and downs as we launched it in January 2020 before all the pandemic madness had begun.
So how did it go? Let's talk about it.
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Watch This Episode On YouTube: https://youtu.be/Z-BSg8I7wpY
Whatever you want to call it...build-to-rent, build-for-rent, BTR, B2R, BFR... Let's talk about what it is and why it's here to stay.
How hard is it to create the types of deals you wish you could find on the MLS? It's unfortunate that quality real estate investments are getting harder to find on the open market. But that doesn't mean there are not plenty of opportunities.
The Build-to-Rent Show: https://www.b2rshow.com/
Watch This Episode On YouTube: https://youtu.be/U81LLot7yks
"50% of people that do 1031 exchanges DO NOT need to do it..."
- Current state of 1031 tax-deferred exchanges
- The ins and outs of doing a 1031 exchange
- Advice to discuss with your accountant about doing a 1031 exchange
- Thoughts on being taxed on unrealized capital gains
- Latest news and updates surrounding 1031 exchanges and the build-to-rent industry
Watch This Episode On YouTube: https://youtu.be/C2VcjOTNo8c
Are lumber prices going back up in the build-to-rent industry? In this episode, Steve Olson, Chase Leavitt, and Sherida Zenger talk about what they're seeing in each of their projects when it comes to increases and decreases in construction expenses, labor costs, and more.
Recent articles by The Motley Fool and ING, estimate that rises in lumber costs are here to stay for the near future. So what does this mean for real estate investors? That's the topic for today.
Sources:
- https://www.fool.com/real-estate/2021/11/22/is-lumber-going-back-up-heres-what-we-know/
- https://think.ing.com/articles/some-building-material-prices-remain-high-till-at-least-mid-2022
Watch This Episode On YouTube: https://youtu.be/C2VcjOTNo8c
Looking back on this year, the B2R hosts discuss various challenges they've faced as they continue to expand their build-to-rent portfolios. Phoenix has given them the most trouble, requiring that their fourplex development be platted as condos. This is a notable change from their usual investing model. What does this mean for their returns? How can investors adapt going into 2022?
• What is a good cap rate?
• Calculating the returns of a build-to-rent investment
• Saving on taxes might make a deal worth it
• The value of turnkey properties
• Cashflow, Internal Rate of Return, and more...
So you're looking to build a single-family home, duplex, triplex, fourplex, or 50-unit apartment complex. Analyzing a potential investment can be tricky. Where do you start? If you only had 5 minutes to look at a real estate investment opportunity and decide if it's worth your time--this episode will explain what to do...
- Estimating Rental Income on a Build-to-Rent Property
- CoStar Review: Using CoStar Reports to Analyze a Rental Market
- Rentometer Review: Using Rentometer to Analyze a Rental Market
- What to do if there are no comps (Building Rental Properties)
- Using Neighborhood Scout and the MLS to Analyze a Rental Market
Lane Aldrich joins the Build-to-Rent Podcast to discuss some of the following...
- 10-loan limits for long-term conventional financing.
- Self-employment & tips for helping a spouse qualify for real estate financing.
- Owner-occupied loans vs rental properties.
- Example: Getting a loan on a new-build fourplex.
- How does buying multifamily affect your debt-to-income ratio?
- Qualifying as a 1099 employee.
- Lenders and Cryptocurrency.
Today's special guest originates more new construction fourplex loans each year than anyone in the country. Lane Aldrich sits down with the FIG team to discuss the current state of lending and more...
- Where are interest rates headed in 2022?- What does the current real estate lending market look like?- Thoughts on Zillow losing 420 million in 3 months.- Qualifying for build-to-rent projects and BRRR owner-occupied opportunities.
Steve, Sherida, and Chase talk about what it's like to calculate income and expenses BEFORE building an investment property. These estimates can be hard to get right on a build-to-rent investment since it's all somewhat speculative in nature. In this episode, our hosts talk about what strategies have/haven't proven to be effective now that they've done a good number of real estate projects.
If you're actively involved in a build-to-rent investment, chances are you're doing so to make money. One of the most important steps of the investing process is to figure out your exit strategy. Not planning your exit can result in big losses in income, and planning your exit can net you big returns.
Community management isn't as complicated when you're dealing with a single-family home or maybe a duplex. But when we start to look at projects with increasing density, depending on the types of ownership of how your properties are held, things can get increasingly difficult...
In this episode, we dive into the different strategies available to finance a new construction rental property. Whether you're looking for hard money or an A&D loan, our hosts break down the pros and cons and what to expect during the process.
Whether you're building an apartment building or a single-family home, there are many reasons in 2021 why your project may need to be delayed. It could be a result of pandemic-induced material shortages, or setbacks from the cities. Today's hosts talk about these setbacks and more in episode 7 of the Build-to-Rent Podcast: "4 Causes of Delays in the Build-to-Rent Industry".
Time to talk floor plans! LVT or carpet. Smart home or no smart home. Garage or outdoor parking... Steve, Chase, and Sherida sit down again, this time to discuss the pros and cons of different floor plans when building to rent in today's real estate market.
You can also watch this episode on the Build-to-Rent Podcast YouTube channel: https://www.youtube.com/channel/UCN1n353tbqMuK7HKi6GmQlg
We've got some good information for you here today. With the US population continuing to grow, and construction basically falling well short of demand... The build-to-rent space is more interesting than ever. We aim to bring a great conversation and awareness to the topic here.
As you think about analyzing markets today and where you might want to build "for rent" products, there are a few changes that have evolved over the last two years specifically around remote work...
Today we are going to talk about something that made the news a couple of weeks ago, I was relieved, everybody else was on pins and needles. And I think if you're a landlord or property owner, you probably were relieved. Here's a headline from NPR that we're going to talk about today, "the Supreme Court will allow evictions to resume it could affect millions of tenants"
Here on the Build-to-Rent Podcast, we're exploring that rapidly increasing industry. There's a massive shortage of units across the country--builders have not been keeping up. People are jumping into this space to try to fill that void and create affordable multifamily inventory for renters.
Welcome to the Build-to-Rent Podcast. I'm Steve Olson, and I do these episodes with Sherida Zenger and Chase Leavitt of the Fourplex Investment Group.
- Should You Let Your Tenants Have Pets?
- What Amenities to Avoid
- Best Amenities for Build-to-Rent
- Building a Park in a Multifamily Development
- Parking & Garbage
- Walking Trails & Grass Areas
- Installing Gates
- Amenities Your Tenants Actually Want
- Benefits of a Lease Back Rental Option
- Hiring Property Managers for Build-to-Rent
- Reasons to Fire a Property Manager
- Relationships Between Builders & Property Management
- What do Property Managers do? How much do they charge?
- What to Look For in a Property Management Company
- Why Investors Should Use a Property Manager
- Build-to-Rent vs Existing Real Estate
- How would you compare building a property that you're building for the express purpose of renting out to acquiring an existing rental investment property? What are the key differences?
- How much maintenance is needed in brand new construction?
- New Construction vs Existing: Should there be a difference in rents?
- Do properties built in 2021 lease for more than something built in 2015?
- Market changes during the build period
- Is build-to-rent riskier since you're basing decisions off of a proforma?
- Why do some investors buy pre-construction and others buy a few years later for a higher price?
- What is a Syndication? Why do investors prefer to get into syndications?
- Thoughts on Build-to-rent Single-Family
- Owner-Occupying a Fourplex (House Hacking)
- Best/Worst Markets for Build-to-Rent Investing