Ep. 137 - Q3 2023 Investor Livestream - Cash Flowing Properties, NV REIT, and Updates on Events!
During the Q3 2023 Investor Livestream, co-founders John Kobierowski and Jamison Manwaring discussed their real estate projects and provided insights into the current market situation. Notably, they revealed their focus on managing existing properties rather than sales due to prevailing low-interest rates and tight credit conditions.
They also shared updates for investors, including details about monthly distributions, utilizing cash balances for investments, and an upcoming property event. The NV REIT’s expansion potential was highlighted, and an "auto-invest" feature was introduced, allowing automatic investments and reinvestment of dividends. The conversation revolved around the dynamic Arizona multi-family housing market.
John elaborated on the demand for high-quality multi-family properties driven by factors like millennials' preference for renting and limited single-family home availability. The co-founders emphasized their strategic property selection approach, targeting core neighborhoods, small to medium-sized buildings, and strategic renovations. They provided insights into ongoing projects, including occupancy rates and rental income.
The Q&A session addressed investor inquiries, spanning topics like REIT acquisitions, property sales, expansion beyond Arizona, and the timing of cash flow generation for projects. They discussed challenges in the lending environment and market dynamics. Despite expansion possibilities, the co-founders underlined their commitment to Arizona, given its strong market conditions and deep understanding of the region.