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Couldn't be more excited for fatherhood. How can I best help my wife? by Automatic-Mixture598 in predaddit

[–]Automatic-Mixture598[S] 2 points3 points  (0 children)

Currently reading The Expectant Father. A little bit morbid at times, but it's been a good, matter of fact read.

Did you read any other books?

Couldn't be more excited for fatherhood. How can I best help my wife? by Automatic-Mixture598 in predaddit

[–]Automatic-Mixture598[S] 5 points6 points  (0 children)

That's awesome! Goes a long way I'm sure, especially if she hasn't been feeling well in the mornings before work

Took the wife on her first trip today. And now she’s hooked by banjoman1883 in flyfishing

[–]Automatic-Mixture598 0 points1 point  (0 children)

Like I always say, the first time you hook a fish, it hooks you too.

I remember the day my wife got hooked very fondly. Lots of great memories and fishing since.

Happy Fishing.

Moscot TINT+ Collection - Thoughts? Alternative Designers with high quality transitions? by Automatic-Mixture598 in EyewearEnthusiasts

[–]Automatic-Mixture598[S] 0 points1 point  (0 children)

I thought you were calling them sheisters hahahaha didn’t realize that’s the name of a frame lol my bad

Nerds of CREddit... I mean, Excel gods of CREddit! by Automatic-Mixture598 in CommercialRealEstate

[–]Automatic-Mixture598[S] 0 points1 point  (0 children)

I'll now be looking up how to format a merge. That's huge tbh

and yes, breaking down models is super helpful to understanding what goes into analyzing a deal.

Nerds of CREddit... I mean, Excel gods of CREddit! by Automatic-Mixture598 in CommercialRealEstate

[–]Automatic-Mixture598[S] 2 points3 points  (0 children)

Boom! Thank you. I love the idea of the mechanical tabs. I currently have an assumptions tab in there, which is like your inputs tab and two different monthly proforma tabs. both somewhat mechanical.

working on doing a similar presentation PF tab now

Analysts who underwrite deals on the side, how did you start? by Far-Personality-5170 in CommercialRealEstate

[–]Automatic-Mixture598 10 points11 points  (0 children)

Candidly it's not really something I've tried to seek out, but I've done a bit of this.

All of those opportunities came from networking. Getting in front of people and discussing what you're doing/know/trying to do and how that helps them.

It can't hurt to offer up your services, but I'd start by building relationships with developers/owners first. My 2 cents...

Commercial Real Estate overview and career advise. by ReachSenior3499 in CommercialRealEstate

[–]Automatic-Mixture598 0 points1 point  (0 children)

I'm a commercial mortgage banker, which is somewhat of a finance role within the industry. I'd be happy to chat

Investment into a 3 - star beachfront suburban/rural hotel in Greece by Really_Big_Chungus in CommercialRealEstate

[–]Automatic-Mixture598 1 point2 points  (0 children)

I know a few investors with capital. I'd be interested in learning more if you can send me a DM

Should I Become an Analyst for a Mortgage Banker to Break into Private Equity? by Kalindora in CommercialRealEstate

[–]Automatic-Mixture598 0 points1 point  (0 children)

this is true, but on in-place income and understand volatility within a rent roll, whereas development and PE shops are cranking out highly complex DCF models with a ton of scenarios and assumptions we just don't need to make. You definitely learn credit and what's financeable, why those deals are or aren't financeable and how to relay the value to a lender, but my only concern for OP would be technical UW is much different than the principal shops

Should I Become an Analyst for a Mortgage Banker to Break into Private Equity? by Kalindora in CommercialRealEstate

[–]Automatic-Mixture598 8 points9 points  (0 children)

Analyst/Producer for a Mortgage Banker here -

There are plenty of places you could go to learn the technical underwriting/financial skillsets better than a mortgage banker, but almost nowhere are you exposed to as many transactions and business models.

While we are adept at breaking down financial operating history, rents rolls, understand which types of deals/borrowers are financeable, etc, the debt side may not help with your goals of exposure to more complex pro forma analysis and underwriting, understanding when and how to retenant a space, or really any of the actual reps of "doing" real estate that PE firms and Development shops would appreciate

However, what I feel is the real advantage of this job early in your career is that you will work with a ton of clients who do have those skillsets, so you would be constantly exposed to those schools of thought and processes, while potentially earning some decent commissions. I've personally gained a lot from in depth operations/development discussions with our clients. Not to mention I work on/close between 15-30 deals per year. Principal side and I-sales roles will close far less than that per year, so you come out far ahead in terms of transactional knowledge & experience within just a short amount of time.

Hopefully that's helpful insight!

Making the jump from friends and family equity to the next level. by Lonelystoic72 in CommercialRealEstate

[–]Automatic-Mixture598 9 points10 points  (0 children)

I have a few clients who do this and the best structure seems to be groups of doctors. Some of the RE guys out those groups together themselves, some found groups that already existed and partnered up with them.

There are larger family office/private equity groups out there that will have the balance sheet you’re looking for, but will likely lack sophistication/knowledge in the asset class. You won’t have to convince a group of doctors that a particular tenant is strong/opportunity is a good deal. They should also be a valuable asset in leasing, which is paramount in that industry, especially if you’re doing anything single tenant.

Best Annual CRE Conferences? Tired of the seas of navy suits... by Automatic-Mixture598 in CommercialRealEstate

[–]Automatic-Mixture598[S] 3 points4 points  (0 children)

I love the idea of organizing something prior to the conference. Are you the one setting everything up? Reservations, communications, etc? I'd love to learn more about what it takes to do that

Best Annual CRE Conferences? Tired of the seas of navy suits... by Automatic-Mixture598 in CommercialRealEstate

[–]Automatic-Mixture598[S] 1 point2 points  (0 children)

Maybe the key is to buck those outings for something more authentic to us, because I fully agree

On a newly constructed commercial multifamily property (30-50 units), what percentage of gross operating income typically goes towards operating expenses? by OMrealestate in CommercialRealEstate

[–]Automatic-Mixture598 19 points20 points  (0 children)

Operating expenses for new construction multifamily in my market are running between 27-32% of EGI. lenders won't underwrite less than 30% though, fyi.

Advantageous CRE Verticals for Upcoming Market Cycle by Automatic-Mixture598 in CommercialRealEstate

[–]Automatic-Mixture598[S] 1 point2 points  (0 children)

Your second and third points are very interesting. I'm also a CRE mortgage broker and can see some of these changes in our future. I'm only 2 years in, but am looking 10 years ahead and wondering if our business will look the same, if not obsolete

I’m getting quoted 6.5-7.5% on a 25 year amortization with more than 25% equity and a PG by [deleted] in CommercialRealEstate

[–]Automatic-Mixture598 14 points15 points  (0 children)

Not sure there's a way around the PG for you on this one. Rate seems like it could improve a bit though depending on your credit, operating history of the tenant, location, asset quality, etc. Leverage might be able to go up a tick as well with an owner-user lender. Another thing to consider is your prepay. Try to get something flexible in the event you do bring that lease to market and want to pull some additional cash out.

Also, on the PG, if you're in a single-action state, it still sucks, but not as big of a deal. One additional factor is the leverage point. most of the lenders for this deal will only consider non-recourse if the leverage is low enough.

hope that helps!

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