You get your feet in position, lightly rock back and forth, adjust your grip, lock your elbow. Your form feels good, so you swing… and miss. The golf ball still sitting unbothered on the tee between your feet. What’s terrific about this situation is feedback… immediate feedback. (I still get this exact form of feedback when I play golf).

You get your feet in position, lightly rock back and forth, adjust your grip, lock your elbow. Your form feels good, so you swing… and miss. The golf ball still sitting unbothered on the tee between your feet. What’s terrific about this situation is feedback… immediate feedback. (I still get this exact form of feedback when I play golf).

We choose “lucky” as the adjective of choice when describing people in certain winning circumstances. Examples would be those that get tickets to The Masters at Augusta, or if it’s more your thing, floor tickets to a BTS concert (when things like that were happening). I’m guessing those few people consider themselves pretty lucky too.

The value-add acquisition strategy, which we employ, entails bringing an older property back to competitive prowess, simultaneously increasing it's income potential and providing a much better living environment for our customers (our tenants). This strategy is not without risk, however.

Of the interesting characteristics defining the Covid-19 economy, one is the simultaneous worries of both deflation and inflation because there were concurrent supply and demand shocks.

Risk is something we think a lot about. A mild obsession, actually. The question that is the title to this essay should be a fast 2nd thought to the much more natural one “How are we going to make money?”

As we round out the first half of 2018, many are shifting their attention (if they haven’t already) to the tax reform that went into place at the beginning of the year. What I’ve found fascinating is that through my conversations with various tax professionals, no one is exactly sure what to expect come next spring.

Real estate investments, in general, are impacted by national trends; responding to recessions, interest rate changes, and overall optimism/pessimism. However, performance is also highly local, dependent on the employment and supply picture of the immediate area and region.

As of January 2018 there are increasingly vocal concerns about the levels of numerous markets, both domestic and international- stocks, bonds, real estate. There appears to be extended bull markets in everything and worry is rising.

Investment liquidity is doubtlessly a good thing. Yet, that doesn't mean that illiquidity is doubtlessly a bad thing. In fact, liquidity can sometimes be a curse and illiquidity can sometimes be a blessing. This is the realization felt by traders after they've participated in a panic (incidentally, it's easy to label a panic in hindsight, but very difficult to see a situation as temporary, emotional selling while it's happening and when your net worth is falling!).

A criticism when discussing the risk-adjusted returns of direct real estate, as measured by appraisal based indexes such as the NCREIF NPI, is that volatility is understated because appraisal based valuations "smooth" volatility due to their backward looking nature.

Interest rate policy has buoyed many types of assets over the recent past, including property. Prices of apartments, like all other property types, has been a beneficiary of low interest rates and given that we're near a long term floor in rates, it's sensible to be concerned that a reversal of that trend will drag prices back down. How far along is the party? Is the clock nearing 12 when we'll return to pumpkins and mice? Probably not.

Since the inception of the United States government, citizens have been granted (and encouraged) to exercise the right to own real estate. In the 1800’s, the Homestead Acts were designed to encourage people to take ownership and care for the land that represented the United States of America.

Both publicly traded REITs and private real estate offerings can present valuable opportunities for an investor looking for real estate exposure. A logical question a client may ask is "what's the difference between investing in REITs and direct real estate"? There are key differences and portfolio implications that should be understood. Here are the top three: