Podcasts about equity yield group

Buying a great property at a fair price beats buying a poor property at a cheap price. When buying property, it's essential to do enough due diligence on the property and the market to determine the future prospects for that property. It's critical to evaluate rent to average income ratios to determine whether local renters can afford to live in your property. It's also important to evaluate diversification within the local economy to mitigate risk of a stagnant or shrinking rental pool. If there's a recession, you need to know the risks of increased vacancy and lower rents. Ryan Webster, Managing Partner at Equity Yield Group, has had great success investing in multifamily properties in Florida and is looking to grow his portfolio in the Southeast and Texas.

Get ready for a conversation packed with valuable information as we welcome the incredible Warren Dresner to today's episode. Listen in as he shares his expert opinions on pressing real estate matters and offers essential insights to help investors thrive in today's market. Don't miss out on this one!WHAT TO LISTEN FORReasons to love the real estate communityVital aspects investors should consider when evaluating real estate deals in today's market Lessons you can learn from a failed multifamily acquisition  How should investors approach housing supply constraints?Why it's important to monitor the supply and demand in the housing marketRESOURCES/LINKS MENTIONEDAltos Research Real Estate Market Analytics - https://bit.ly/433P0p5Wealthion - https://www.youtube.com/c/Wealthion ABOUT WARREN DRESNERWarren, the Managing Partner of Equity Yield Group, has been investing in Real Estate since 2010, specifically in Multifamily since 2019. He actively manages and operates five multifamily assets in Florida and North Carolina, totaling over 1,000 units and valued at $200M. As the Managing Partner, Warren oversees underwriting, asset management, and investor relations at Equity Yield Group. With a professional background in finance and insurance spanning over 20 years in the USA, UK, and Australia, Warren holds a Bachelor of Commerce from Macquarie University. He resides in Miami, Florida with his wife and three daughters.CONNECT WITH WARRENWebsite: Equity Yield Group - https://equityyieldgroup.comCONNECT WITH USTo learn more about investment opportunities, join the Cityside Capital Investor Club.Follow us on Facebook: Cityside CapitalFollow us on Instagram: @citysidecapital_tim_lyonsConnect with us on LinkedIn: Tim LyonsConnect with us via Email: greg@citysidecap.com | tim@citysidecap.com

In today's episode we have the founders of the Equity Yield Group, a real estate investment firm specializing in institutional grade multifamily assets in great markets. Sourced, qualified, and managed by an experienced team. Ryan Webster is Managing Partner, and Founder of  Equity Yield Group. He is an NHBA award winning home builder, experienced real estate professional, and entrepreneur. Ryan has over a decade of experience owning and operating a Midwest based construction, and development company with a wide range of project experience managing new construction, and value add multifamily projects. Warren Dresner Managing Partner, Co-founder, has 20 years' experience in finance, insurance and real estate in the USA, UK and Australia, with a focus on deal management, deal execution and project management. He began investing in real estate in 2010 and has experience in both Single-Family Homes and Multifamily Apartments. He is currently invested in over 2,000 units across the South-East and Midwest. Join us for an insightful conversation as they share their expertise on real estate investing and managing institutional-grade multifamily assets in great markets. Tune in to the full episode now!

Warren Dresner is the founder and managing partner at Equity Yield Group, a real estate investment and acquisition firm focused on acquiring A- and B-class multifamily assets. In this episode, he tells us how he reached $200M in AUM in just four years, why he decided to go big on his first deal, and how his mindset has helped him find success.    Warren Dresner | Real Estate Background Founder and managing partner at Equity Yield Group, a real estate investment and acquisition firm focused on acquiring A- and B-class multifamily assets.  Portfolio: GP of 2,000 units LP of 2,530 units $200M in AUM Based in: Miami, FL Say hi to him at: equityyieldgroup.com Greatest Lesson: Being disciplined and focused in your investment strategy reduces risk, and in turn yields better ROI.  

Ryan Webster is an award winning home builder, experienced real estate professional and entrepreneur. He has a decade of experience owning and operating a Midwest based construction, and development company as well. Warren has over 20 years of experience in finance, insurance and real estate in the USA, UK and Australia. He also has experience in Single-Family and Multifamily apartment investing.  Currently he has invested in over 2,000 units across the South-East and Midwest.With  Ryan's  wide range of project experience managing construction and value add multifamily projects and  Warren's extensive experience in real estate investing they were primed for success with their real estate investing firm; Equity Yield Group. Equity Yield Group is a real estate investment firm specializing in institutional grade, A/B class multifamily assets in great markets, sourced, qualified, and managed by an experienced team. We have a strong and consistent track record of delivering results to our investors. We have high standards, focus on quality, and invest right alongside our investors.Connect with Warren and RyanLinkedin : https://www.linkedin.com/feed/Website: equityyieldgroup.comRich State of Mind Links:Website: www.richstateofmind.comJoin our email list to know our services and our prize giveaways:  https://sendfox.com/richstateofmind1Youtube: https://www.youtube.com/channel/Instagram : @richstateofmindpage and @rich_invests_Podcast links: https://linktr.ee/anthanerichiePlease like and subscribe to our channel.See our cool wealth building and real estate T-shirt designs in the links below :Rich State of Mind Store : https://bit.ly/RichStateSupport the show

Ryan Webster is an award winning home builder, experienced real estate professional and entrepreneur. He has a decade of experience owning and operating a Midwest based construction, and development company as well. Warren has over 20 years of experience in finance, insurance and real estate in the USA, UK and Australia. He also has experience in Single-Family and Multifamily apartment investing.  Currently he has invested in over 2,000 units across the South-East and Midwest.With  Ryan's  wide range of project experience managing construction and value add multifamily projects and  Warren's extensive experience in real estate investing they were primed for success with their real estate investing firm; Equity Yield Group. Equity Yield Group is a real estate investment firm specializing in institutional grade, A/B class multifamily assets in great markets, sourced, qualified, and managed by an experienced team. We have a strong and consistent track record of delivering results to our investors. We have high standards, focus on quality, and invest right alongside our investors.Connect with Warren and RyanLinkedin : https://www.linkedin.com/feed/Website: equityyieldgroup.comRich State of Mind Links:Website: www.richstateofmind.comJoin our email list to know our services and our prize giveaways:  https://sendfox.com/richstateofmind1Youtube: https://www.youtube.com/channel/Instagram : @richstateofmindpage and @rich_invests_Podcast links: https://linktr.ee/anthanerichiePlease like and subscribe to our channel.See our cool wealth building and real estate T-shirt designs in the links below :Rich State of Mind Store : https://bit.ly/RichStateSupport the show

Join Mike Cavaggioni with Ryan Webster and Warren Dresner on the 127th episode of the Average Joe Finances Podcast. Ryan and Warren share how they acquire A/B class Multifamily Assets in well located markets with strong economic indicators. They create an outstanding investor experience with operational excellence and ensure that communication is complete, transparent, and accurate throughout the life of every investment.In this episode, you'll learn:Building teams for successful investmentsHow to keep things on track and know when to shift directionThe importance of consistent and transparent communication with investors and team members Selecting and qualifying target marketsWinning deals in competitive marketsAnd so much more!About Ryan and Warren:Ryan is a NHBA award winning home builder, experienced real estate professional, and entrepreneur. Ryan is the founder of Equity Yield LLC. and has over a decade of experience owning and operating a Midwest based construction, and development company, with a wide range of project experience managing new construction, and value-add multifamily projects.Warren has 20 years' experience in finance, insurance and real estate in the USA, UK and Australia, with a focus on deal management, deal execution and project management. He began investing in real estate in 2010 and has experience in both Single-Family Homes and Multifamily Apartments. He is currently invested in over 2,000 units across the South-East and Midwest.Find Ryan Webster and Warren Dresner on:Website: https://equityyieldgroup.com/Average Joe Finances®All of our social media links and more: https://averagejoefinances.com/linksTools and resources I use: www.averagejoefinances.com/resourcesCRM Tool: www.averagejoefinances.com/crmPay Off Your Mortgage in 5-7 Years:www.theshredmethod.com/averagejoefinancesFind a REALTOR® in any state: www.averagejoefinances.com/realtorMake Real Estate Investing Easier with DealMachine: www.averagejoefinances.com/dealmachinePodcast Hosting: www.averagejoefinances.com/buzzsproutPodcast Editing Services: www.editpods.com*DISCLAIMER* https://averagejoefinances.com/disclaimerSee our full episode transcripts here: https://www.averagejoefinancespod.com/episodes--------------Tropical Sensation by Mike Leite soundcloud.com/mikeleite Creative Commons - Attribution 3.0 Unported - CC BY 3.0 Free Download/Stream: https://bit.ly/-tropical-sensationSupport the show

Ryan Webster is a multifamily investor and operator. Before he began working in real estate, Ryan enjoyed the opportunity to build things and sell them off. But then he reached a turning point in his mid-life journey (a crisis, if you will); something was still missing, and that time with his family. In our path to provide and pursue excellence, it's easy to lose sight of why you are doing it in the first place. So he pivoted towards investment and managed a way to make passive income while also investing alongside other strategic partners who shared his commitment to excellence. That is how Equity Yield Group exists today. Equity Yield Group's aim is one of the most prominent and trusted real estate investment firms specializing in institutional grade multifamily assets. What makes them different is their groundbreaking formula. Their company provides clients with robust, calculated returns without losing sight of our ultimate goal; preserving capital. They can afford to make strategic investments without risking too much, thanks to Ryan's diverse experience. Come listen to how it all came together. Journey with us from Ryan's ups and downs, family life, and failures. When you hear his story you won't ever want to give up in your respective lab, because like Ryan, you're always just one experiment away. HIGHLIGHTS OF THE EPISODE: 6:06 - What makes equity yield different from everybody 13:22 - Renovation Bump 37:17 - Managing a fund/portfolio KEEPING IT REAL: 0:30 - Introduction 2:57 - Ryan's Story 3:50 - Equity Yield Group 9:23 - Range of rates 15:09 - Why Florida 17:13 - Operator experience 18:35 - Passive investors 20:09 - Third party applications 21:26 - Referrals 24:59 - How to get more investors 26:57 - Finding the right business partner 28:12 - What makes things work with your business partner 29:27 - Opportunities of Ryan's business 33:50 - Future of Equity Yield Group NOTABLE QUOTES (KEY LESSONS): “There's some different benefits for investors investing in a fund. Beyond diversification, you also kind of get the benefit of being able to kind of invest in a time machine. Because if you're coming into a fund that already has assets that were purchased with cheaper debt, uh, before rates started going wild, those deals are gonna have higher cash flow cash flow.” -Ryan Webster CONNECTING WITH THE GUEST Website: https://www.linkedin.com/company/equity-yield-group/?trk=similar-pages Facebook: https://www.facebook.com/pages/category/Real-Estate-Investment-Firm/Equity-Yield-Group-104940504437848/ YouTube: https://www.youtube.com/channel/UC4aRGm_b8VPbBKxMqZ_qYIw LinkedIn: https://www.linkedin.com/in/ryan-webster-3104841a9 #Multifamily #Syndication #Investing

Ryan Webster and Warren Dresner are the Co-Founders and Managing Partners of Equity Yield Group. The firm specializes in institutional grade, A/B class multifamily assets. We talked to Ryan and Warren about their partnership, the markets they focus on, and institutional capital. Announcement: Download Our Sample Deal and Join Our Mailing List [00:01 – 03:12] Opening Segment  Ryan and Warren talk about their backgrounds. They talk about how they got into real estate; How they organically built a relationship; [03:12 – 10:39] Building A Perfect Partnership At what point they decided to partner up; How Ryan's background shaped his view on multifamily; How they minimize the execution risks in their business plans; They talk about the markets they like to invest in; How they became successful in Central Florida; [10:39 – 26:35] Institutional Capital How they used institutional capital to raise capital on bigger deals; How they got institutional investors to invest with them; Why the market and the sub-market is so important to achieve your investing goals; Private Investors VS. Institutional Capital How you can find institutional equity; How they share the responsibilities in their partnership;  [26:35 – 30:58] Round of Insights Apparent Failure: Every deal that they lost   Digital Resource: justicemaps.org   Most Recommended Book: The Great Rat Race Escape   Daily Habit: Running a checklist   #1 Insight for Multifamily Investing: It's a team sport.   Best Place to Grab a Bite in Miami and Cedar Rapids:  Lokal (Miami), Red Vespa (Cedar Rapids)   Contact Ryan and Warren: To learn more go to equityyieldgroup.com.   Tweetable Quotes: “We were in the right place at the right time because we had thought about the types of markets we wanted to be in.” - Warren Dresner   Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.

  In today's episode, we are joined by Ryan Webster. Ryan is an NHBA award-winning home builder, experienced real estate professional, and entrepreneur. Ryan is the Managing Partner and the founder of Equity Yield LLC. He has over a decade of experience owning and operating a Midwest-based construction, and development company, with a wide range of project experience managing new construction, and value add multifamily projects.   Highlights:   [00:00 - 05:34] Opening Segment Ryan Webster is the founder and managing partner of the equity yield group and he recently transitioned from the construction development side to the buy and hold the side When he transitioned, his motivation was to spend more time with his family and build a different business that was inherently more scalable He thinks interest rate hikes will increase consumer demand for multifamily housing because they will affect both commercial and retail consumers.    [05:35 - 11:04] Rents Still Affordable in Today's Market Rents are still affordable, but they will only continue to grow so long as they remain affordable. To calculate affordability, the company uses median incomes for the area and 30% of income as the rent figure. Fundamental investors look at supply and demand in the market and also focus on the quality of the property and its location. They like to invest in newer properties that have great amenities and are located in nicer neighborhoods with high incomes.   [11:05 - 16:21] Capital Raises $50 Million in New Funding How the company paid $85,000 for an interest rate cap 12 months ago, and now it is worth $700,000 The company is not underwriting refinances and is bidding on a lot of deals How the company wants to form a company that not only provides great investments for investors but a great investor experience   [16:22 - 17:15] Closing Segment Reach out to Ryan Links Below Final Words Tweetable Quotes ” We're not focusing so much on being competitive. Our focus from the get-go is really looking for quality investments that generate great-risk-adjusted-returns in providing our investors, with a great investor experience.”- Ryan Webster    -   ----------------------------------------------------------------------------- Connect with Ryan Webster by visiting their website equityyieldgroup.com Connect with me:   Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Ryan Webster: we've got a lot of investors. And I think for them, it comes down to, am I participating in the market or am I not at this point? And we have a lot of investors looking at okay. [00:00:09] Ryan Webster: What else do I do with my money? The stock market's very volatile as of late bond yields.  [00:00:15] Ryan Webster: Uh  [00:00:15] Ryan Webster: aren't that great. So if I am a participating investor in the market, where do I wanna be? And a lot of them still want to be in real estate. It is, a low-risk investment historically has been a great, instrument for the preservation of capital. Ryan Webster is the founder and Managing partner of the Equity Yield Group. Ryan. Welcome to the show. Hi, thanks for having me. Hey man, pleasures mine, three questions. I ask every guest who comes on the show in 90 seconds or less. Where did you start? Where are you now? And how did you get there?  [00:00:54] Ryan Webster: Yeah. Absolutely. [00:00:55] Ryan Webster: I've been in real estate, most of my career started in the construction development side and recently transitioned into the buy and hold side. And that kind of transition took place, motivation of kind of shifting to be able to spend more time with my family and, build a different business that was inherently more scalable. [00:01:12] Sam Wilson: When you say you recently transitioned, what is recent  [00:01:15] Ryan Webster: for you? Within the last two years.  [00:01:16] Sam Wilson: Okay. All right. Fantastic. So you guys, so, but you were in, remind me again, you were in real estate before that.  [00:01:24] Ryan Webster: Yeah, so I owned a construction development company prior to starting this company. So within real estate, but on the other side of it in the, build and sell model, as opposed to buy and hold. [00:01:33] Ryan Webster: Got  [00:01:34] Sam Wilson: it. So do you do any more development or is everything you guys buy right now? Existing?  [00:01:38] Ryan Webster: Yep. Existing stabilized assets is what we do now.  [00:01:41] Sam Wilson: That's really interesting. What were you building?  [00:01:43] Ryan Webster: We did a lot of, single family homes national home builder association. [00:01:46] Ryan Webster: Award-winning home builder. Did some small multi small commercial strip malls back when that was the hot thing. Standalone restaurants.  [00:01:54] Sam Wilson: Got it. Okay. That's that's really interesting. One of the things that we hear a lot on this show, especially as it pertains to multifamily. Is that the cost to build is lower than what people are getting now for used product that they have to value ahead. [00:02:08] Sam Wilson: How do you find opportunity right now in the multi-family space? I guess, especially coming from the, background as a builder, Like, how do why are you guys buying existing stock?  [00:02:19] Ryan Webster: Yeah. Absolutely. There's a couple different reasons. part of it's geographically motivated. [00:02:23] Ryan Webster: I live here the Midwest and in a market that has very affordable housing, so there's no real retail demand for multifamily. And as a asset class, I, I liked. The idea of multi-family. I think in, in major markets, there's always going to be demand for multi-housing. It's a very stable asset class as far as real estate goes. [00:02:41] Ryan Webster: So to be able to invest in that asset class I had to be outside of. My market. And it's a little more different to, to build outside of your market. And there's a risk reward profile from, the building and development side returns are a lot higher because there's lot more execution risk of getting a thing up out of the ground, getting it stabilized. [00:02:58] Ryan Webster: And the other, Obstacle on the development side is it's constant capital gains. Depending on what year you building and what year you sell in you don't have the deductions to offset the capital gains where it's stabilized assets through, cost, egg studies and accelerated D appreciation. [00:03:12] Ryan Webster: You're not hit with a tax bill all the time,  [00:03:14] Sam Wilson: right? Yeah. That's the largest expense. I think most of us incur. Is that tax bill. So if we can eliminate that's certainly a helpful place to be. One of the things you and I talked about before we kicked off this episode was that you think that interest rate hikes will increase consumer demand for multifamily. [00:03:31] Sam Wilson: Can you break down your thought process behind  [00:03:33] Ryan Webster: this? Yeah. Absolutely. So. Interest rates not only affect us as investors on the commercial side, but they also affect the retail consumer your what would be first time home buyers. So I think what we're going to see is a lot of first time home buyers are going to be further priced out of the market and they will stay renters longer which will put a little more demand side pressure on multi-housing. [00:03:56] Ryan Webster: And if you're looking at, at least major markers across the Southeast who have seen this very high inbound net migration A lot of these people move planning to, buy a home later since there's such low inventory. But I think there's a percentage of these people. That'll now be priced out of that market. [00:04:11] Sam Wilson: How do you think that compares, especially in the Southeast where we've just seen astronomical rent growth. I mean at some point, are they also getting priced out of the renter's market as well? I mean, at this point, I don't know what an average let's use Greenville, South Carolina. I don't know what the average two bedroom rent would go for, but at the north of 13, 1400 bucks, I mean maybe even 15 or 1600 bucks. [00:04:36] Sam Wilson: So at what point in time does it, I mean, is there a tipping point there where at some point you go wait, well, now we could afford a house cuz rents at the multi-family properties are just so high. I mean, What's your crystal ball,  [00:04:46] Ryan Webster: tell you, I mean, generally speaking in denser markets, it is cheaper to rent than it is to buy. [00:04:52] Ryan Webster: But when we're talking about this topic of, the astronomical rent growth, and we're invested in around Tampa where it saw last year in excess of. 32% rent growth. Wow. Which is just insane compared to, historically what we're used to seeing. Right. So we've had, a number of conversations around, okay, well, where does this end? [00:05:09] Ryan Webster: What's fueling it. And obviously can't go on forever. But for us, it comes down to, three factors. You have the supply and demand the demand pressure driven by, population growth, which is usually driven by jobs for the most part. Parts of Florida's also driven. [00:05:23] Ryan Webster: Retirement migration. And then you have supply constraint. Are there barriers to entry of new supplies or availability of land or zoning laws? Convoluted? Is it expensive to build? And the other piece is the affordability component. This comes down to jobs and wages and the diversity of the job market in that area. [00:05:40] Ryan Webster: And rents will only continue to grow so long as they're affordable. And they, we define affordable as kind of roughly 30%. Of the income is what the annual rent should be. And that's how we qualify, income for all our properties, both on new leases and renewals.  [00:05:57] Sam Wilson: What figure do you guys use when you say 30% of income? [00:06:01] Sam Wilson: I mean, you have to have an adjusted. Kind of median income for the area. Is that what you're working off of? When you say, Hey, rents are still affordable or what's, what can you give us some insight into how you calculate  [00:06:12] Ryan Webster: that? It depends on where we are in the process at a first glance. We are looking at, median incomes for the census track of that area versus kind of median incomes, our medium rents of the property. [00:06:22] Ryan Webster: As we get closer to bidding on our property, we'll actually look. Incomes of the tenant base at the property. We'll look at where those tenants are employed. How far is from the property, what the median income of those companies that those tenants work for. And then back into what are rents of the property what are rents of the property post value add or post stabilization? [00:06:43] Ryan Webster: so we get more granular as the process goes on.  [00:06:46] Sam Wilson: Right, right. What's a high level. You said, I think maybe you did maybe answered this already, but the high level pass is just using the median income for that census tract is your just kind of initial soft  [00:06:56] Ryan Webster: pass at it. Yep. And that's the kind of, okay. Are we gonna dig in or are we not gonna dig in? [00:07:00] Ryan Webster: And if the census track doesn't really cover the rents at an income ratio that we like, then, we kick it out and onto the next deal.  [00:07:08] Sam Wilson: Right? Right. Tell me about fundamentals. You guys are. Fundamental investors, according to you, what does a fundamental investor, what does that mean to you and how do you guys stick to your  [00:07:20] Ryan Webster: fundamentals? [00:07:21] Ryan Webster: Yeah. we start. pretty wide and work our way in. So we start with the supply and demand of a market and then dig into really the supply side of the submarket or an area within the submarket. And to make sure that we're investing in a place where you have supply and demand working in your favor, that's gonna support rent growth or rent premium, post value add. [00:07:43] Ryan Webster: And then we do a very detailed comp analysis, especially if we're. Value add of, okay, we're gonna reposition this property. What are, the qualitative pieces of our competitors nearby, what are tenants looking for in a place they live, other than just geography? What amenities they're looking for? [00:08:01] Ryan Webster: Architecturally, what do the properties look like that are proving the premiums that we want approved and then we look at our position in the Comp. set versus where we wanna be in the comp. And we like to represent an affordable option to the tier that we're at. So we really like this, what we call a minus space. So we're in newer properties, preferably nineties to mid two thousands built for a couple reasons with my background in construction I've done a number of renovation projects and in this environment, it's very hard to accurate. [00:08:30] Ryan Webster: Project how a big construction project is going to go. It's harder to get materials. Labor costs are going up, getting contracts to show up is difficult. And there's always some part of the scope of work that's a surprise. You can't see inside the walls, you can't see behind cabinets. There's gonna be something in the budget. [00:08:46] Ryan Webster: That's gotta get pulled outta contingency. So the newer properties are generally well amenitized. The exteriors look good so we can come in and really focus on cosmetic interior updates. That are easy to do. It's a smaller scope and be able to prove out the same premium throwing less dollars at it. [00:09:02] Ryan Webster: But the other more important piece is they're located in newer neighborhoods that come with an easier to work with tenant demographic. They're typically higher incomes, nicer communities places where people want to live and work.  [00:09:14] Sam Wilson: That makes a lot of sense. Yeah. And I love kind of the insight you gave there on the rehab risk and constraints that, a lot of people are running into. [00:09:23] Sam Wilson: Certainly. Certainly right now it is a shifting environment we're in, I mean, I'm hearing from various parts of the country. This is a daily podcast. We get talk to a lot of people and we're even here in, on, on some fronts that there's kind of a soften. Of prices in the, in, in some particular markets. [00:09:39] Sam Wilson: And there's a softening where there people are having, brokers now reach out to them with, Hey, I've got a multifamily asset for sale, would you like to put an offer in on it? Are you guys seeing that where you are and let's start with that question. I probably have several on this  [00:09:50] Ryan Webster: for. [00:09:51] Ryan Webster: Yeah, no, absolutely. And I think it's gonna be market by market asset by asset, but we've seen such aggressive cap rate compression over the last 24 months, that, that can't sustainably continue. And you look at rising interest rates, lowering your current cash on cash yield and lowering your leverage. [00:10:09] Ryan Webster: And as far as value, add projects go, you gotta look at if. Banking on a refinance. How do you size that refinance in the future? When interest rates are going up? Because we spent an environment in the last 24 months, everything was LTV constrained and asset prices continue to go up and you could just peg, 75% LTV debt. [00:10:26] Ryan Webster: But that's because. Debt was so cheap. Right. Now we're, DSCR constrained you, you don't have the income to cover the debt service anymore. So if you're trying to back into a refinance you may be looking at 50% leverage to your future value, which doesn't pencil in a lot of deals. Right?  [00:10:42] Sam Wilson: So do you guys even underwrite a  [00:10:43] Ryan Webster: refinance? [00:10:44] Ryan Webster: Currently we don't and we're not even doing variable rate debt anymore. We did, while debt was cheap, we bought very aggressive interest rate caps, cuz those were also cheap at the time. and are very much in the money. We just refinanced one of our properties to get into fixed rate debt sold the remaining term on our interest rate cap for about $700,000. [00:11:04] Ryan Webster: Which we paid 85,000 for when we purchased it 12 months ago.  [00:11:08] Sam Wilson: I don't even understand what you just said to me. How do you sell an interest rate cap?  [00:11:12] Ryan Webster: So yeah interest rate caps are they're derivative the bank, offers them as a derivative product and they agree to. Cover your debt surface coverage above a threshold that you set. [00:11:21] Ryan Webster: And we bought 50 basis points caps on all our variable rate debt and sofa is now well above 50 basis points. So the value of those caps is a lot higher now.  [00:11:31] Sam Wilson: Right. And so who do you sell those to?  [00:11:33] Ryan Webster: Back to the same people we bought 'em from generally you can go to Chatham financial, who brokers a lot of these deals. [00:11:39] Ryan Webster: And we purchased that through them and went back to them when we refinanced it. Hey, we're going to fix rate debt. We don't need the cap anymore. Can you sell this back to the market?  [00:11:46] Sam Wilson: Wow. And so then the market said, Hey, your $85,000 interest rate cap is now worth $700,000 and you got to resell it. [00:11:54] Sam Wilson: Yep. That is fantastic. I'm sure your limited partners really enjoyed that. Tell me about that on the capital raise front. That's one of the things that a lot of people, getting started struggle with, or, have. just varying methods for how they are raising capital. What are you guys seeing on the capital raise side of things? [00:12:12] Sam Wilson: What are what's what's the investor sentiment that you feel like you're getting from from your investor  [00:12:16] Ryan Webster: base? Yeah, we've got a lot of investors. And I think for them, it comes down to, am I participating in the market or am I not at this point? And we have a lot of investors looking at okay. [00:12:26] Ryan Webster: What else do I do with my money? The stock market's very volatile as of late bond yields. Aren't that great. So if I am a participating investor in the market, where do I wanna be? And a lot of them still want to be in real estate. It is, a low risk investment historically has been a great, instrument for preservation of capital. [00:12:46] Ryan Webster: Right.  [00:12:47] Ryan Webster: Yeah. Yeah, absolutely. Absolutely. I love that. Very cool. So some of the things I hear that you guys are doing, you are not underwriting refinances. Obviously you were wise in buying your interest rate caps. When you guys closed on your deals what else are you guys doing right now to stay competitive in the market and continue to acquire assets? [00:13:06] Ryan Webster: Yeah. we're not focusing so much on being competitive. Again our focus from the GetGo has been, really looking for quality investments that generate great risk adjusted returns in providing our investors, a great investor experience. So we're actively bidding. On a lot of deals a lot more than we had historically cuz there's a lot more deals on the market, a lot less of a pencil. [00:13:26] Ryan Webster: Right. But lately it's been more of an exercise of bidding and staying in touch with the brokers and keeping our finger on the pulse of the market. As you see, asset revaluations in, in some of these markets and as the debt market continues to shift. But we're offering at, the price that makes sense for our business plan. [00:13:43] Ryan Webster: And we've historically. Lost a lot more deals than we've won and, expect to continue that trend into the future.  [00:13:49] Sam Wilson: right, right. I love it. I love the candor there. Tell me about the investor experience. I know we talked about this early on, was that when you guys formed your company, the investor experience was part of, kind of your. [00:14:01] Sam Wilson: Framework for how you wanted to run it. What does that mean? Yeah.  [00:14:05] Ryan Webster: Absolutely. Our investors, they're limited partners and they should be treated as partners. And, as, passive investors, ourselves, myself, my partner, we've had, experiences where there's, big lacks of communication between, the general partners and sponsors and the limited partner investors. [00:14:21] Ryan Webster: So when we formed the company, we. We wanna form a company that not only provides great investments for investors, but a great investor experience. So we're very consistent about sending out investor communications the 15th of every month. Distributions are always on time. [00:14:35] Ryan Webster: Our communications are detailed that we have a full. Financial reporting package every month as well as, tracking key performance metrics of, projections versus performance, and then just being available and responsive to investor questions. If they have a question they're able to utilize, we're getting an answer back to 'em, later that day and hopefully within the hour. [00:14:54] Ryan Webster: Right? Yeah.  [00:14:55] Sam Wilson: And that's, amazing to me as well. I'm with you in that I am alluded partner. On a lot of different deals with a lot of different S around the country. And I think that's one of the things, as people grow and scale their companies, I think it's a great place to start. Maybe if you're not in, in commercial real estate right now, but you're looking to get, it's a great, if you have the capital go be a limited partner, I think you'll learn so much, much, like you're saying there, Ryan, where you get to experience other sponsors communication styles, get to see what they do. [00:15:22] Sam Wilson: You get a front row seat to the opportunities. But also at the same time, kind of learn how you wanna do it as well. And I love how you guys have implemented that there in your business and said, look, we don't love this experience. We're gonna make it the way we want it and make the investor experience amazing. [00:15:37] Sam Wilson: So, yeah, that's that's very, very cool. Are there any other thoughts you have around the economy around how you guys are structuring deals around how you guys are really where you see the multifamily business going here before we sign off? Yeah, absolutely.  [00:15:53] Ryan Webster: Long term, we're pretty bullish on multi-family. [00:15:55] Ryan Webster: I don't think there's any indication that demand is going to go anywhere. Structuring a capital stack that makes sense. And making sure that your debt term exceeds your business plan that you can get into fixed rate debt or the business fund requires it really makes sense of variable rate debt and have plenty of contingency there. [00:16:13] Ryan Webster: But long term, I think it's going to perform people will always need housing. Right,  [00:16:18] Sam Wilson: right. Nope. I love it. I think you're absolutely right. Ryan. If our listeners wanna get in touch with you and learn more about you, what is the best way to do that?  [00:16:25] Ryan Webster: Yeah, the best place is to go to our website at, equity yield group.com. [00:16:29] Ryan Webster: There, you can sign up for monthly newsletter and kind of stay up to date with what we're doing and what we're seeing in the market. You can also subscribe to our investor network. You can. Some of our recorded podcast episodes like this. There's a bunch of content up there available for anybody looking to learn more about multifamily real estate investing. [00:16:46] Sam Wilson: Awesome. Ryan, thank you for your time today. Certainly appreciate it. Yeah. Thank you.  

Episode 121: In today's episode we have the founders of the Equity Yield Group, a real estate investment firm specializing in institutional grade multifamily assets, in great markets, sourced, qualified, and managed by an experienced team.Ryan Webster is Managing Partner, and Founder of  Equity Yield Group. He is an NHBA award winning home builder, experienced real estate professional, and entrepreneur. Ryan has over a decade of experience owning and operating a Midwest based construction, and development company with a wide range of project experience managing new construction, and value add multifamily projects.Warren Dresner Managing Partner, Co-founder, has 20 years' experience in finance, insurance and real estate in the USA, UK and Australia, with a focus on deal management, deal execution and project management. He began investing in real estate in 2010 and has experience in both Single-Family Homes and Multifamily Apartments. He is currently invested in over 2,000 units across the South-East and Midwest.Today, they will take us through their real estate journey from single to multifamily deals, the current market cycle and what this means for multifamily real estate, and what the future holds for the multifamily space. Don't miss it! For today's episode we will cover: [ 00:00 - 06:47 ] Guest Intro: Ryan Webster and Warren DresnerRyan's backgroundWarren's backgroundPushing the envelope on customer service [  06:47 - 16:02 ] Transition to A class quality assetsHas investor appetite changed in this market cycle?The bank is your biggest investor True fundamentals [ 16:02 - 30:08 ] Holding periods and types of return profiles being realized in institutional quality assetsWhy staying in the affordable A class space works so wellStructuring the equity sideWhat the vetting process look like [ 30:08 - 43:31 ] Downside of institutional capitalA point on controlChanges to their investment and business strategyForecast for the multifamily market over the next five years [ 43:31 - 46:12 ] What do you like to do for your continued education to further your own investing (Warren)What do you like to do for your continued education to further your own investing (Ryan)A defining moment  that changed the course of your trajectory (Ryan)trajectory (Ryan)A defining moment  that changed the course of your trajectory (Warren)Advice for listeners to help them grow their businesses (Warren)Advice for listeners to help them grow their businesses (Ryan) Tweetable Quotes: Connect With Guest:Website: https://equityyieldgroup.com/Youtube: www.youtube.com/channel/UC4aRGm_b8VPbBKxMqZ_qYIwFacebook: www.facebook.com/pages/category/Real-Estate-Investment-Firm/Equity-Yield-Group-104940504437848/Ryan Webster: LinkedIn: www.linkedin.com/in/ryan-webster-3104841a9Warren DresnerLinkedin: https://www.linkedin.com/in/warren-dresner-353b8239Facebook: https://www.facebook.com/wdresner

If Ryan Webster & Warren Dresner can close on a $26M 148-unit multifamily property as their very first investment property, so can you. They explain how they did it using institutional money. Welcome to Pillars of Wealth Creation, where we talk about building financial freedom with a special focus in business and Real Estate. Follow along as Todd Dexheimer interviews top entrepreneurs, investors, advisers and coaches. Ryan & Warren are the owners of the Equity Yield Group real estate firm that specializes in institutional grade A and B class multifamily assets in solid markets which are managed and operated by an experienced team. They have a strong and consistent record of delivering excellent results to their investors. They have a high standard focused on quality. And they also invest alongside their investors. 3 Pillars 1. Network 2. Managing risk 3. Diversification Books: Big Debt Crisis by Ray Dalio and The Great Rat Race Escape by MJ DeMarco You can connect with Ryan Webster & Warren Dresner at www.equityyieldgroup.com Interested in coaching? Schedule a call with Todd at www.coachwithdex.com Connect with Pillars Of Wealth Creation on Facebook: www.facebook.com/PillarsofWealthCreation/ Subscribe to our email list at www.pillarsofwealthcreation.com Subscribe to our YouTube channel: www.youtube.com/c/PillarsOfWealthCreation

We welcome back Ryan Webster and Warren Dresner to talk about their experience in the multifamily space and what they are working on. Ryan and Warren have transitioned fully into value add acquisitions, but they still do not do acquisitions full time. They discuss how the market cycle affects real estate and how to protect yourself when it does. They also discuss unemployment and how hitting the affordability ceiling means that landlords can't continue to increase rents unless nobody can afford to pay them.    [00:00 - 06:16] Opening Segment Introducing Warren and Ryan to the show Hitting the affordability ceiling Warren and Ryan shares their background The corporate world as a risk reward profile The Equity Yield Group   [06:17 - 14:27] The Market Shifts Ryan and Warren talks about the market shift towards debt issuance and buybacks Interest rates are going up Growing through acquisitions   [14:28 - 26:10] Tips on Underwriting Deals Underwriting deals is a numbers game Mindset and having a positive outlook Successful strategies for making relationships with institutional investors   Taking the market conditions into account when underwriting   Having conservative assumptions Being realistic about the market's potential growth   [26:11 - 33:29] Closing Segment Vetting the sponsor of an investment The debt market is shifting, but the fundamentals of real estate and real estate investment haven't changed See links below to connect with Ryan and Warren   Quotes:   "I think it is just a matter of bouncing back. I mean, being happy that you get rejected and then just bouncing back and looking at another deal." - Ryan Webster   "You have to have a cap rate escalation and assume that although you're growing, that that's not going to count as much in the future as it does today." - Warren Dresner WANT TO LEARN MORE?   Connect with me through LinkedIn   Or send me an email sujata@luxe-cap.com   Visit my website www.luxe-cap.com or my Youtube channel Thanks for tuning in!     If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

Investors are concerned about their expected returns in every transaction, but what if there's a method to maintain a regular cash flow without being concerned? Ryan Webster and Warren Dresner discuss ways to earn passive income from high-quality real estate. Stay connected for additional real estate wealth-building strategies and information!     Topics on Today's Episode   Helpful tips to select the best asset in your target markets How to meet underwriting and asset management goals effectively? What is a perfect real estate deal? Factors that contribute to syndication success Pros and cons of institutional equity investment     Resources/Links mentioned   Slippery Rock University Oakwood Apartments The Creature from Jekyll Island| Paperback and Kindle Big Debt Crises| Paperback and Kindle     About Ryan Webster and Warren Dresner Ryan is an award-winning home builder, experienced real estate professional, and entrepreneur. He has over a decade of experience owning and operating a Midwest-based construction and development company. He also has a wide range of project experience managing new construction, and value-add multifamily projects.  Warren has over 20 years of experience in finance, insurance, and real estate in the USA, UK, and Australia. He is investing in both Single-Family Homes and Multifamily Apartments and is currently invested in over 2,000 units across the South-East and Midwest.  They are the founders of Equity Yield Group, a real estate investment firm sourced, qualified, and managed by an experienced team that specializes in institutional-grade multifamily assets and great markets, focusing on capital preservation while striving to return strong, risk-adjusted returns for investors.     Connect with Ryan and Warren Website: EquityYieldGroup.com Facebook: Equity Yield Group YouTube: Equity Yield Group LinkedIn: Equity Yield Group     Quotes  “At the end of the day, the best person to execute the business plan is the people that wrote the business plan.” - Ryan Webster “Deeper pockets make ships sail.” - Corey Peterson   Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.    

In today's episode, we have a couple of professionals from the Equity Yield Group, a real estate investment firm specializing in institutional-grade multifamily assets, in great markets, sourced, qualified, and managed by an experienced team. Ryan Webster is Managing Partner, and Founder of Equity Yield Group. He is an NHBA award-winning home builder, experienced real estate professional, and entrepreneur. Ryan has over a decade of experience owning and operating a Midwest-based construction, and development company with a wide range of project experience managing new construction, and value add multifamily projects. Warren Dresner Managing Partner, the Co-founder, has 20 years of experience in finance, insurance, and real estate in the USA, UK, and Australia, with a focus on deal management, deal execution, and project management. He began investing in real estate in 2010 and has experience in both Single-Family Homes and Multifamily Apartments. He is currently invested in over 2,000 units across the South-East and Midwest. Tune in as they take us through their real estate journey from single to multifamily deals, the advantages and what they like about multifamily and the transition from passive to active investing. They share their views about what works in finding multifamily deals today, and what the future holds for the multifamily space. Don't miss it! In this episode, we explore: 00:56 - Guest Introduction: Ryan Webster and Warren Dresner 01:29 - Ryan's story and how he got started in investing and real estate 01:56 - Warren's story and how he got started in investing and real estate 03:02 - How Warren got started in passive investing 05:22 - Ryan's construction company and switching to multifamily 06:48 - The advantages Ryan sees in doing multifamily deals 07:02 - Spectrum of class A properties 08:46 - Things Warren likes about investing in multifamily deals 10:59 - How Ryan sees the effects of trends on the Class A market 12:57 - Warren on affordability 14:19 - Something Warren is proud of 16:32 - What's Ryan thinks is working today as far as finding deals and how they've changed 17:10 - What's Warren thinks is working today as far as finding deals and how they've changed 19:43 - What Ryan sees happening in the multifamily space for the next 12 months 21:45 - Advice from Warren to someone who's starting out as a passive investor in multifamily 22:25 - Advice from Ryan to someone who's starting out as an active multifamily investor 24:07 - One resource that helps Ryan in real estate 24:25 - One resource that helps Warren in real estate Connecting with the Guest: Website: https://equityyieldgroup.com/ Youtube: www.youtube.com/channel/UC4aRGm_b8VPbBKxMqZ_qYIw Facebook: www.facebook.com/pages/category/Real-Estate-Investment-Firm/Equity-Yield-Group-104940504437848/ Ryan Webster: Linkedin: www.linkedin.com/in/ryan-webster-3104841a9 Warren Dresner Linkedin: https://www.linkedin.com/in/warren-dresner-353b8239 Facebook: https://www.facebook.com/wdresner #multifamilydeal #investmenttips #findingnewdeal

Ryan Webster and Warren Dresner are Co-founders of Equity Yield Group. Equity Yield Group is a real estate investment firm specializing in institutional grade, A/B class multifamily assets in great markets, sourced, qualified, and managed by an experienced team. In this episode we talked about: Ryan`s and Warren`s  Bio & Background Real Estate Investment Real Estate Classes Definition of Equity Yield Group The Process of Evolution as an Investor Deal Specifics: from Negotiating to Financing Raising Capital Communicating with Investors Strategy Philosophy on Pre-Deal and Ongoing Communication Reporting Aspects Key Metrics of Pre-Deal Stage Deal Structuring Disposition in Real Estate Underwriting Asset and Local Management Geography of Deals How to Build a Team Investment Philosophy Mentorship, Resources and Lessons Learned Useful links: http://www.justicemap.org https://equityyieldgroup.com Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, you're listening to working capital the real estate podcast. My name's Jesse for galley and with me today are Ryan Webster and Warren Dresner. They are co-founders of equity yield group equity yield group is a real estate investment firm specializing in institutional grade a and B class multi-family assets in great markets, sourced, qualified and managed by their experience team, guys.   How's it going?   Warren (45s): Great. How are you Jesse?   Jesse (47s): I'm doing fantastic. We've got a bright and sunny day in Toronto. So the snow's gone and hopefully this continues for listeners you're joining us. I think we talked just before the show Miami and it was Iowa Right on. So for listeners that don't have a bit of a background of what you guys do. Maybe we could kind of take it back to the beginning. You know, we want to talk about how you founded this company and get into some of the great deals that you've you've done so far.   But before we do that, maybe you could just provide a little bit of a background about individually, how you got started in real estate, if the path was traditional or if it was not. And then eventually how you guys kind of teamed up to create a degree at this company.   Ryan (1m 33s): Yeah, no, absolutely say I've been in real estate a long time, a real estate professional and an entrepreneur prior to founding equity yield group. I own an operator construction and development company for transitioning into a multi-family acquisitions and working with equity yield group and more in near.   Warren (1m 54s): So I think my perf is probably traditional but different to Ryan's. So I'm from Australia originally been investing in real estate since 2010, largely single family homes. When I moved to the U S 2019, I discovered multi-family and started investing in multi-family as a passive investor, invested in a number of syndications, got to know the industry that way, and then decided I wanted to get more active in this space. And that's when I met Ryan and we'd formed equity yield group, and we started acquiring large multi-family units and, and operating them ourselves.   Jesse (2m 34s): So when, when did you start requiring units? What year was that?   Warren (2m 39s): Equity? Your group? 20. 20.   Jesse (2m 41s): Okay. So fairly recently.   Warren (2m 44s): Yeah.   Jesse (2m 44s): So in terms of the, the kind of foray into real estate, did you have a investing career? I know, you know, Ryan, you just mentioned a little bit of the background there, but was it, you know, where are you familiar with investments years before? Or was this something that, you know, you teaming together was really the, this started of kind of an investment career, like the deals you're talking about syndications and multi-family deals.   Ryan (3m 9s): Yeah, I won't speak for Warren, but as far as a real estate investment, you know, something that I was familiar with and it was, it was working in just in a different capacity and different business model and the, you know, build and sell as opposed to buy and hold.   Warren (3m 24s): I didn't mention it before, but my background's in finance and insurance. So I was comfortable with complex financial structures and investments, not only on my own account and single family homes, but just through a corporate career. Ryan with that construction background as well, was quite familiar with debt structures and complicated capital stacks that go with construction. So together we, I feel like we had a lot of combined knowledge that really helped. So it made it a lot easier to start looking at our own properties.   Jesse (3m 56s): So when you did start looking at your own properties, what was the impetus for multifamily, you know, the array of different residential and commercial real estate classes? What was it about multi-family   Ryan (4m 8s): For me, it was really kind of stability and, you know, a real low risk profile and great risks, gesture returns having been on the other side of that risk profile on the development side, where you have, you know, high levels of, of execution risk, as well as market volatility, risk, and, and hoping that you're gonna hit the timing, your project and the interest isn't going to eat through your profits. You know, the advantage that came with buying stabilized cash flowing assets, and it really provides peace of mind for me and for our investors being able to deliver solid risk adjusted returns   Jesse (4m 47s): In terms of the actual structure that you use. I know from the outset, the sorry, definition of equity yield group, or kind of what you guys do specializing in an institutional grade, how do you define institutional grade, you know, as opposed to family offices or high net worth individuals, what does that definition for, for your team?   Ryan (5m 8s): Yeah, so we buy, you know, late model product. We really prefer, you know, nineties to mid two thousands, but nothing older than the 1985. And, you know, we look for greater than a hundred units, really nothing less than $20 million, but preferably in this, you know, 50 to a hundred million dollar transaction range, but more than that is really the location in the market. We're shopping and in very strong markets with, with great fundamentals that are going to support a strong business plan   Jesse (5m 41s): And Warren, anything, you know, from your, from your vantage point to add on to that.   Warren (5m 47s): No. So, so Ryan summarize it pretty well. I mean, we use this word institutional quality. We really mean better quality assets. We can get into it in a moment, I guess, but whenever we're buying one of these properties, we need to finance it somehow through debt and equity syndicators, we traditionally raise equity from high net worth individuals. Something we also focused our efforts on is raising the money from institutions and institutions are great because they can write a really big check.   And it seems like an easiest solution, but they're tricky because they've got their own appetite and these institutions they're very sophisticated companies. They like to look in the stronger markets, the larger markets, and they prefer the newer assets as well. So we described to what our criteria is that we like to buy later model product in these strong markets in the Southeast, but actually that's exactly what the appetite is of these institutions as well. So I guess that word can apply to both our strategy, but also some of the sources of equity that we're using to buy these products   Jesse (6m 52s): And Warren, what was it, your finance background that assisted or helped in terms of the actual financing side?   Warren (7m 1s): I think it's both of us actually. I think Ryan was very familiar with, with complicated debt structures and how we use brokers as well. A mortgage broker who's really useful. I can access both debt and equity. So I think, I think honestly it's both of our backgrounds that made it familiar to us   Jesse (7m 18s): Now for the average listener. I mean, we have everything that spans from people that have a few units to thousands of units. The team here is obviously I think from the communication we've had, it's been currently invested in over 2000 units for those on the, you know, the smaller size, you know, how does that happen? You know, you kind of alluded it to alluded to it here where you're talking about people writing large checks, but you know, for the average investor, that's trying to take a syndication business and grow it. You don't just start at 2000. So what was that evolution like when you know, what, what would be your suggestion or advice to, to grow to that size if that's the goal of the, of the investor?   Ryan (7m 57s): Yeah, I mean, it's really, it's a business and you gotta start there. You've got to start with, with a plan and a fundamental understanding of, you know, how the business runs when you're dealing with a larger scale properties and then how you want your business internally to run. And, you know, Warren and I set out with a, with a focus of not only providing quality investments and investing in quality properties and projects, but about providing a quality customer experience.   So we're real big on consistent and transparent communication with our investors being accessible to our investors. So not only do they know what to expect with the level of investments that we provide them, but with working with us   Jesse (8m 44s): In terms of the deal you recently did. So I believe it's a $26 million acquisition. And that was like, we've been talking about you utilizing institutional capital. Can you tell us a little about that deal? Just, you know, the deal specifics, how it came together, you know, whether that, you know, from the actual negotiations to the financing, what did that look   Warren (9m 4s): Like? Should I jump in?   Ryan (9m 5s): Yeah, you can go ahead and talk about that.   Warren (9m 7s): Oh, that one is in Sarasota, Florida, which is a market just south of Tampa. The market fundamentals were amazing. So we actually had purchased that one. We closed early 20, 21 on that one. It all starts with the market. We loved the market. There was so much growth in Florida, so much growth around Tampa, so much growth in Sarasota specifically. So the market was outstanding. That particular asset is 148 units. It was built in 2016.   So it's actually a really new product. What was unique about it was, although it was only five years old, the interiors looked a lot older. I guess the developers didn't spend a lot of money on it. There was a real opportunity to clean up the kitchens and, and do a light to moderate rehab and value add project. So we loved it because it was newer, which meant that was a cleaner asset, but there was a real value add upside for us, for the investors. And so that one was $26 million.   We ended up, I think about six or $7 million came from an institution. And then we raised around four and a half million ourselves from high net worth individuals.   Jesse (10m 18s): So are you raising the capital on a fun level where it is committed capital or you raising it during, you know, the, the very stressful, potentially stressful conditional periods of the deal? How D how do you structure that, that chicken and egg? We talk about quite a bit on the show   Warren (10m 35s): Up until now. We've been doing it asset by asset. So in that stressful four week period, we've talked about creating a fund and that's something that's potentially on the agenda for this year.   Jesse (10m 45s): And what's your strategy when it comes to communicating with investors, let's maybe break that up between pre deal when you're actually in the fundraising mode. And then when you were actually with investors in a deal, and, you know, you're going through your process, whether that is value add, or in this case, sounds like it was pretty much a cut and dry. He didn't, it wasn't like you were doing a massive build-out. So those two types of communication, pre deal and ongoing what's, what's your philosophy on that?   Warren (11m 15s): You go ahead, Ryan.   Ryan (11m 17s): Yeah. Again, it's really centered around, you know, transparency. And from an operation standpoint, we, we tend to be very in tune with, with the details of, of not only the business plan, but the day-to-day operations executions. I plan. So when we're raising capital, you know, it's about putting together a presentation that, that gives investors, all the details about what we like about the project itself, the, the market, you know, why we think it's going to do well and how we're going to take it from a, to B without taking up hours and hours of their time.   And then post-closing, it's really about consistency. We send out monthly updates on the 15th of every month to our investors, that kind of track our KPIs from our initial business plan against the performance of the asset, as well as sending out the entire financial reporting package. If investors want to dig in, you know, very granularly, it it's all there and available to them.   Jesse (12m 16s): So when it comes down to the reporting, I mean, some investors there they're large enough where the accounting standards start to matter quite a bit, audited financial statements. You mentioned institutional investors, are you at that level of granularity or is this, you know, unaudited P and L's and balance sheet of what's going on with the project?   Ryan (12m 36s): Now, our financials are pretty detailed and very clean, and actually got, got a great compliment from our CPA and tax accountant this year. She said, it was know, these are the cleanest financials that ever reviewed this beer. And, you know, I love working with you guys because of that. And it helps not only with the institutional equity, but with the lenders as well. And even operationally, if you don't have clean books and you, you can't, you know, take a look at a profit and loss statement and understand what goes into it, it makes it very difficult to run the business.   Jesse (13m 7s): So I'm going to ask a seemingly granular question, but I, I, I'm just curious because we're all in the same business, and I'm curious how you deal with this, but before I do, I just have a question on the key key fundamentals are key metrics that you look at pre deal, whether that's internal rate of return equity, multiple, what do you find is the one that you have the most success communicating to investors, or you find that they request or moves? You know, they're asking, I want to see this specific metric.   Is there one that is head and shoulders above another? Or is it more, you have a bunch of different tools at your disposal?   Ryan (13m 46s): I mean, as far as return metrics, it's a return profile on different investors are looking for different things. So, you know, we, we provide cash on cash return equity, multiple IRR and average annualized return. So depending on which particular metric, the individual investor is attuned to, you know, we have it available for all of them. But as a general statement, you know, we are looking for some sort of current cashflow in all of our, our projects. So we can have that, that drip along the way of cashflow out, along with the appreciation.   Jesse (14m 21s): And when you are structuring these, these deals, it's a little different than the last guest we have we had on because there were more in the value add world. So you actually have these things spinning off capital in the first, you know, the first couple of years, it sounds like in that, in that strategy, are you still using a traditional preferred return and split of, of anything above that? Do you guys use a different, a different strategy or structure? What do you find that you've had success with?   Ryan (14m 49s): Yeah, we typically provide an 8% preferred return to really provide that, that alignment of interests with, with our LP investors. And then, then we typically go to a 70, 30 split, and then depending on the project, we may have a series of waterfalls after that at IRR hurdles.   Jesse (15m 8s): Okay. And for the granular question, I'm curious, because one of our investors that actually asked about this the, the other day, and it's the, the communication that comes with fees, but not just fees, but actually the return metrics in your first year. And you guys are aware that, you know, there's a bit of a J curve when it comes to the return metrics, because the investors put down a hundred thousand, two 50, a million, whatever their LP investment is. But that first year comes with quite a bit of fees associated with it. So the return in year two and three will look different than your one.   Is that a conversation that, that you have, or a communication that you have investors ask about after that first year, I have found that, you know, they're somewhat underwhelmed in the first year of operation until you, you communicate that piece of the, of the puzzle for them. And I find now it's in my, you know, upfront communication right away to talk about how these fees are gonna impact your one, you know, and any thoughts on that?   Ryan (16m 6s): Yeah. We've never had that question. And I think partly because, you know, a lot of our investors are sophisticated and understand how these larger projects run. And the second piece is, you know, in our investor deck and presentation, we break down the, the sources and uses and, and display all the fees in there. And then we break out, you know, cash on cash return on an annual projected basis. So there's really nothing, you know, in that year, one year two, that's missing projections. You know, we lay out the projections for the project on an annual basis   Jesse (16m 38s): When it comes to disposition. One unique difference between our Canadian listeners and us listeners is that the 10 31 exchange does not exist for the Canucks. And for, you know, south the border, you, you guys utilize that is your strategy on disposition to find different assets, or is it an actual full-out sale pay back investors? What do you find is the, for your investors? What are, what are you doing in that, on that front?   Ryan (17m 7s): And it really depends on the projects, but you know, right now with, you know, the bonus depreciation, you know, a lot of our investors are replacing capital and that bonus depreciation offsets, you know, the capital gains there. So the 10 31 isn't always necessary or a required vehicle to offset that gain. But the other tough part about the 10 31 is you are on the clock. You have to find an asset, you have to find something to place that capital in and depending on the market and the timing, you know, there may be a limited number of qualified assets available.   Jesse (17m 47s): And do you have a limited amount of time that, or a time period where these assets are, are held? You know, are you telling investors that, you know, we like to have a capital event in three years, five, seven, whatever that may be.   Ryan (18m 1s): Yeah. We underwrite to a five-year hold due to the strength of the markets we invest in. It's not on a realistic to, to make an exit. And in the two to three year span, we like to keep our projections conservative and just run everything out to, to a five-year. However, you know, we may refi and hang on exit in seven, we may sell in two. It really depend on asset performance in market conditions.   Jesse (18m 26s): Yeah, that makes sense. In terms of the, the actual underwriting from a stress test perspective, obviously, or seemingly obvious that the, the interest rate environment is going to be changing in the upcoming months, it has changed over the last few months. Has anything changed in the way that you underwrite in terms of certain sensitivities that you have when you're looking at properties, whether that's geographic or just loan to value that the interest rates are potentially affecting, how are you, how are you analyzing with in our current environment?   Ryan (19m 0s): Yeah, absolutely. I think that's a great relevant topic. Warren, you want to dig into that one?   Warren (19m 5s): So there are probably two aspects that we're paying much closer attention to at the moment. The first is if we're using floating rate debt where underwriting the forward interest rate curve. So if we can get focused on rate today on that debt, we're actually looking at what the forward projections are from the fed. And then we're assuming that next year, the interest rate might be 5% the year after it might be 5.5%. So it definitely allowing to that increased cost of debt service.   That's the first aspect. The second is at refi were very sensitive to the fact that proceeds available at refi have been driven by loan to value up until this point, interest rates have been so low that most lenders are constrained by LTB rather than debt service coverage ratio. DSCR we think that's going to change going forward. So on all of the deals that we're underwriting, when we look at proceeds available at refi were paying close attention to the projected DSCR in year two or year three.   And we're using that metric to determine how many, how much proceeds are going to be available. And what we're finding is that, whereas in the past, we may have assumed that we were going to get a 75% agency loan and refi. Now it's looking like we might only be able to qualify for a 60% LTV or a 55% LTV loan, and that completely changes the return profile of the deal. So it's a, it's a real, a key factor that we're paying much closer attention to just in the last three months.   Jesse (20m 40s): And are, are you agnostic to the type of debt, whether it's agency debt or, or not, or do you, do you have a,   Warren (20m 49s): We, we want non-recourse debt within that at steel specific we'll look at fixed rate, floating rate, bridge debt agency debt. Whatever's going to make the most sense for the deal.   Jesse (21m 2s): Fair enough. So a good segue to the actual underwriting, or, sorry, the actual asset management of the, of the properties that you have in terms of the operational side of things, is this something that you have in hosts, the actual property management, and then I guess at the higher level would be asset management from your company. What does that relationship look like for your deals?   Ryan (21m 23s): Yeah, so we use a third party property manager that handles the day-to-day operations, and then we handle the asset management piece in house and really focused on, on managing the, the manager and execution of the business plan and tracking that, you know, daily and weekly, as far as are we on track for this particular metric? Have there been any shifts in the market that are going to impact our future projections   Jesse (21m 49s): When it comes to the local management? What's the process for when you have say out-of-state properties that you're buying, where you're not as familiar with the companies that are working there, is this something where you roll up your sleeves and figure out who the, the best company is to manage these? Or is this done quarterbacked all from one location?   Ryan (22m 9s): So, yeah, we work with one property management company. We have a great relationship with them. They performed phenomenally, and there's, there's an alignment of culture between our group and theirs, which we like it to the point where, you know, we won't really invest in, in markets that they don't manage it.   Jesse (22m 26s): Now, when it comes to those markets, I know we mentioned, or we talked before Florida, Carolinas, Texas, are these the key markets that you're looking at right now? Are there any others? And what's that process that you go through to figure out which areas that you want to be investing in?   Ryan (22m 43s): Yeah, no, absolutely. Those are our key focus areas at the moment. But you have to remember that you we're, we're investing a real estate, but we're buying a business that comes with that real estate and you need the fundamentals of the market to be able to support the growth of that business. You know, a lot of the markets across the Southeast and Texas, the key thing is population growth and net migration that that's driving demand pressure in these markets. And then the next thing is, you know, supply, we look for areas that are supply constrained that don't have a lot of units coming online or projected units coming online.   And then the next component is, is really affordability, income, income, growth, and employment.   Jesse (23m 28s): That all makes sense when it comes to the, the team itself. You know, you're building this business, you're finding property management, asset management, obviously there's other stakeholders and members of your team. You kind of alluded before in terms of brokers, you, how important is building the team properly from the outset. And is there any, you know, are there any tips or any advice you'd give investors that are in the process of either building out a team or adjusting a current team that they have, that they want to improve on?   Ryan (23m 57s): Yeah. And the, and this comes back to building and running a business. You know, if you don't have that relevant business or management experience, I wouldn't let that deter you, but, but understand it's going to be a learning curve and there's going to be some on the job learning that comes with that. And I think the classic advice is, you know, be, you know, slow to hire, hire the right people and quick to fire. If there's a problem in, someone's not performing and you, you've tried to manage their performance, aren't able to, you know, don't hang onto them any longer than need to.   They're going to become a detriment to the growth of your business. And as far as hiring goes, you really spend some time defining what are the roles and responsibilities you're trying to hire to do you have the systems and procedures in place where you can bring this person in and they can execute on those rules and responsibilities. And then once you have that back into, okay, who's the ideal person for this role and for the company and who can I work with on a daily basis.   Jesse (24m 60s): Yeah. Right. I couldn't agree with you more on that. I think the there's this conventional wisdom, or there's this idea that real estate investing, isn't a business. And, you know, for those that are familiar with the book, the E-Myth, it's been recommended on the show a few times of actually building your business. For some reason, investors seem to think we're all supposed to be, you know, just kind of shooting from the hip when the reality is it's no different than any other business. You're S you create a team, you create systems and then you really get efficiency out of it. So couldn't agree with you more on that.   I'd be remiss if we didn't touch on the current environment that we are in, or the one that we just laugh. It's been an unprecedented last 24 months, you know, myself working in more broadly commercial real estate. So office retail, industrial, as well as multi raise everything's been affected in some, in some respect, what is your view I'd like to hear from both of you of how we are coming out of this, what we, you know, what you are seeing as the likely outcome in terms of the real estate market over the next few months, and maybe you could talk a little bit about the, the last 24 months and how that's changed your investment philosophy if it has at all.   Ryan (26m 11s): Yeah, absolutely. You know, the, the philosophy hasn't really changed that we're, we're very big fundamental investors that we invest in the strength of the market, and then find the best opportunity in that market. We can, and then build the strongest team we can to, to execute on the business plan. But the things are, are going to change here with the debt market. There's no question about that, but I think the outlook for, for multi-family specifically is still pretty positive, especially in these, you know, the Southeast and in Texas, where you have this, this continued demand pressure from inbound migration.   And the other component is, you know, on the demand side, interest rates also affect the home buyers and the retail consumer. So I think there's a lot of individuals that maybe we'll be looking for, you know, purchasing their first home. That'll be priced out of the market as interest rates come up. And that will continue to drive the demand pressure on, on the multifamily side with that, you know, the supply side is going to be constrained by interest rates as well. It's going to be expensive to build a new product.   Lumber prices have been up and down pretty dramatically over the last six months, but have definitely been higher than historicals, which increase, you know, the cost to build combined with supply chain issues, not only on the material side, but, but the labor side, skilled labor is a problem here in the United States and will continue to be a problem in the United States, which makes replacement product more expensive. And, and I don't see a solution to the housing supply problem. And I, I see, you know, as long as you're investing in, in these markets where the demand pressure's there and you're not hitting an affordability component, that's the next piece that you have to look at?   It's yeah. Rents are moving. Yeah. Demand pressures. High supply is constrained. Rents are moving dramatically. And in some cases, you know, like Tampa saw 32% rent growth last year, which is just ridiculous, but you can't see that back to back year, over year before people can't afford to live anymore. So with that, you have to look at the diversity employment market, wage growth and the cost of living,   Jesse (28m 23s): Or in thoughts,   Warren (28m 25s): I guess just another part of your question about the last 24 months. I think something we really learned, which has reaffirmed our strategy is that with COVID the industry as a whole performed really well, but a lot of that was because of all the money that flowed into the states to provide rental assistance. So one thing we've noticed is that demographics matter. And if you are in a smaller market, if you're in an older property, you're probably more likely to have a tenant base that's reliant on rental assistance.   Who's chosen over the last 24 months or had to over the last 24 months, not pay rent. We haven't seen that at our properties. And I think that's kind of reaffirmed our strategy that if we stick to these strong growing markets, if we stick to these newer assets, we can avoid that demographic and our bad debt tends to be lower. So that was something that we, we never really set out thinking bad debt first, but it's something we really noticed that it's been an issue.   Industry-wide I think that the industry has been fine, but we're starting to say people who are not paying rent, who are, who have been reliant on this rental assistance. And now that it's dried up not able to pay rent. So it's something we've learned over the last 24 months, but like I said, it's actually reaffirmed our strategy, which we're quite happy with.   Jesse (29m 51s): Yeah, no, that makes a lot of sense. I think it's a, it's a common, a common view right now for, for investors. And, and like you said, that as a whole, we, the market did perform pretty robustly, but definitely a dislocation in certain areas, whether that's office retail specific type of office or retail, but looks like, you know, there it is positive the way we're going. You know, especially Canada, we took a little longer, hopefully fingers crossed. Everything is moving in the same direction. There's big contrast when you're flying to Orlando from Toronto and just the, the environment.   So hopefully that, that all moves in the right direction. So we're coming up to the end here. We asked four questions to all the guests and I'll start with those. And at the end, we can talk a little bit about how people can reach out to you and you know, where they can go to connect and whether that's investing in a deal, or basically just trying to reach out or seeing, seeing where you are in social. But before we get that, we have four questions. We ask everybody. So if you're ready, I'll kick them off. So what is something that, you know, now in your real estate career that you wish you had had known when you started out   Warren (31m 2s): Passive? I guess for me, it's real estate is a get rich, slow scheme. So it's time in the market that matters. So I would, what I wish I had known is that I should have started 10 years before I did.   Jesse (31m 16s): That's great time, time in the, or so we're not timing the market time in the market.   Ryan (31m 21s): Absolutely. You know, looking back even the last 12 months. And I think a lot of people do suffer from the analysis paralysis and especially people looking to jump into real estate and get your first deal done. You know, I look back 12 months ago, there were deals that, that we passed on that, that, you know, didn't make sense or were a little tighter than we liked. You know, demographic, strongly area was strongly like the property, but it was, it was the basis and the pricing, we couldn't make sense of.   There's a lot of those deals looking back now that I wish we just would've bought, we'd probably be selling them right now.   Jesse (31m 58s): Fair enough. All right. Number two. Any advice for individuals or younger professionals trying to get into the commercial real estate space? You know, maybe from the framework of mentorship, would, what advice would you have for, for those individuals?   Warren (32m 14s): I would say surround yourself with people who are doing it, who are one or two steps ahead of you? I think we kind of alluded to this in the conversation earlier about going big. It's actually not that much more difficult to go big than to go small. It's all about the size of your thinking. So I think surround yourself with people who are doing bigger deals and you'll realize that you can as well.   Ryan (32m 37s): Yeah, absolutely. And to add to that, it is a unique industry in the sense that I don't know any other industry where you have a willingness of people further down the path to reach back and help the people walking the same path.   Jesse (32m 53s): Yeah. That's a great point. I think we're a pretty spoiled in our industry and it's not a, I don't think we've ever talked about that on the show about, or if we have, it's been a while about how many people there are in our industry that are more than willing to help a younger person out. If anything, they just, they see a little bit of them in the younger individuals and, and they want to help. So, I mean, it makes a lot of sense. Number three, for us, is there any tool resource that can be software, a book that you're utilizing now where you you'd recommend to listeners it could be real estate or business in general,   Warren (33m 27s): Something, something I like it it's a website that we're using. It's called justice maps.org. I don't know if you've seen that Jesse, but it's, we use it basically to look at incomes. It breaks down incomes by, I dunno if it's zip code or even more refined than that, but we don't just rely on what CoStar reports in a radius. We actually map out the specific location of the property and look at incomes all around it. So justice maps.org.   Jesse (33m 54s): Okay. We'll put that in the show notes. It's it's funny. You mentioned that one specifically. I think it was literally yesterday. I ordered a book off of Amazon that had that in there, and I never saw that before justice, but I've heard of like, familiar are a similar type of websites, but it's funny. They specifically mentioned that and it was like a multi-family acquisition book. So we'll definitely put a link for that. Anything, anything for you, Ryan?   Ryan (34m 17s): Yeah, I think I'm kind of relevant to the time sphere and we touched on, on the debt market, but we're looking at the chat and financials website, you know, every day pulling the, the forward interest rate curve forward treasuries. And so for, and, and we use that to underwrite, you know, month over month, our forward debt service, as well as the price interest rate caps.   Jesse (34m 39s): Yeah, that makes sense. All right. The last one listeners know I stole this boat two years ago from a masters of business and Bloomberg first car make and model.   Warren (34m 48s): So I don't, I don't know if the names of the cars are different in Australia, but it was a proton. I think it might've been,   Jesse (34m 55s): I think that that is, I think that is it Nissan or it's not. I know exactly what you're talking about. That is hilarious. That is the first proton we've had on the show. I can tell you that much. How about you, Ryan?   Ryan (35m 7s): Yeah, that's a little more domestic. Had a Chevy Beretta. It was a manual transmission. Five speed.   Jesse (35m 18s): Love it. All right, guys. Well, I appreciate that in terms of where people can reach out to you or for those looking for opportunities, or just generally want to connect on social media, where can we send them to?   Warren (35m 29s): The easiest for us is probably to go to our website equity yield group.com. You can connect with us there. You sign up for our newsletter, keep in touch that way, but that's probably easiest equity yield group.com.   Jesse (35m 43s): Anything else to add Ryan?   Ryan (35m 45s): No, that's really the place to find us. I'm excited to sign up for newsletter. You can schedule a call with us. If you have questions about investing in real estate, if you're interested in investing alongside us and one of our future projects, you can register via an investor intake form there.   Jesse (36m 1s): My guest today has been Ryan and Warren from equity yield group, guys. Thanks for being part of working capital. Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one.   Take care.  

Blackstone, the largest owner of commercial real estate in the world - who would want to go head to head with the colossus of the industry? But Ryan Webster, founder, and managing partner at Equity Yield Group has been taking on the big players in the past year, bidding against the likes of Blackstone and Greystar and acquiring $165 million in assets with 665 units all in a span of 12 months. How does Ryan do it?In this episode, Ryan talks about the most important aspects of running the syndication business that allows him to stand shoulder to shoulder with industry stalwarts. Listen to him talk about ‘doing ordinary things extraordinarily well' to set his company apart from the others. To hear all of Ryan's valuable insights, join us today!

Equity Yield Group is a real estate investment firm specializing in institutional grade, A/B class multifamily assets in great markets, sourced, qualified, and managed by an experienced team. We have a strong and consistent track record of delivering results to our investors. We have high standards, focus on quality, and invest right alongside our investors.   If you like what you hear be sure to like, share, subscribe! Podcast- Mindful Multi-Family show Instagram- Chris_Salerno_ Youtube Channel- Chris Salerno Facebook- The Mindful Multifamily Network  Website- www.qccapitalgroup.com

Ryan Webster, Founder of Equity Yield Group, joins us to discuss his transition from running a construction company to investing in multifamily real estate. We discuss investment approach, their team, capital raising, and much more. Connect with Ryan at https://equityyieldgroup.com/. To join the DJE Investor list visit https://djetexas.com/access. For multifamily mentoring visit https://ApartmentEducators.com.  

Today we're talking with an investor who is at the top of his game. Our guest is Ryan Webster, the founder of Equity Yield Group, which has $250M in assets under management. In this episode, we talk about how to transition from the development side to managing existing properties, the key fundamentals of finding a good deal, and how institutional money works. If you're looking to acquire stabilized assets and grow your portfolio significantly, then tune in to our conversation!  Learn more about Ryan and his journey at reiclarity.com! “There's a lot of inherent execution risk and market cyclical risk on the development side and I wanted to mitigate that.”   02:31 Ryan started on the construction side of real estate and had a construction development company. Over the years, he moved around within the industry and finally landed on the acquisition of stabilized assets.   Ryan talks about the difference between being on the development side and being an asset manager. Development has a significantly higher risk factor but it can have a better return. Stabilized assets are more predictable and reliable with a smaller potential return. The tax benefits are better with stabilized assets.  “I think it's important to focus on the fundamentals of business and real estate investing and not just buying things because cap rates are compressing and the market is going crazy right now.”   8:52 Ryan's company is acquiring 100+ doors in the large multifamily space. He finds investors through syndication and his investors range from retail to institutional investors.   Ryan shares his key fundamentals when looking for a deal: Stable population growth. Diverse and growing job market. Areas with not a lot of land to avoid new development. “Real estate is a great asset class - it's always been a very low-risk stable investment and one of the greatest wealth builders over time that comes with maximum tax benefits.”   21:06 Ryan talks about the exit piece in his business plan. He always plans a 5-year hold with his properties. The actual exit is determined by the market conditions and asset performance.    A long-term hold is not always possible with institutional investors as they usually have some control over the exit terms. Mentioned in the show: https://equityyieldgroup.com/ His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Ryan Webster for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Join Rent Roll Radio's host, Sterling Chapman, with his guest Ryan Webster as they talk about acquiring, developing, and closing major deals through multiple investors. Ryan is a Managing Partner and the Founder of the Equity Yield Group. As experienced investors themselves, his team only offers deals that they have personally vetted to ensure that they meet their own high standards. Today, Ryan breaks down their approach to analyzing these deals, utilizing capital preservation, and providing strong, risk-adjusted returns.    In this episode, you'll learn: The challenges of acquiring institutional-quality properties in today's market. How to leverage private funding and mezzanine debt when raising equity. The benefits of partnering with co-sponsors when creating a network for capital raising. Why focusing on market fundamentals is essential when acquiring fully marketed deals. How to best deal with rising interest rates when investing in commercial real estate. And much more!    About Ryan Webster   Ryan Webster is an NHBA award-winning home builder, experienced real estate professional, and entrepreneur. Ryan is the founder of Equity Yield LLC. and has over a decade of experience owning and operating a Midwest-based construction, and development company, with a wide range of project experience managing new construction, and value add multifamily projects.   Connect with Ryan Webster! Website: https://equityyieldgroup.com/  LinkedIn: https://www.linkedin.com/in/ryan-webster-3104841a9/    Connect with Sterling! Website:  https://sterlingchapman.com/  YouTube: https://www.youtube.com/channel/UCQyf4HUYuxd6bHhRPWF8BEQ  Facebook: https://www.facebook.com/rentrollradio/

How do you go about closing a 30-million dollar deal on a 166-unit Bradenton Reserve deal in Bradenton, Florida? Today's guest can answer that for you! Joining Dan Handford are seasoned real estate investors, multifamily syndicators Ryan Webster and Warren Dresner. They are also Managing Partners at Equity Yield Group. They break down the process of how they acquired, renovated, and closed this major deal through multiple investors. In addition, get valuable and practical real estate and financial advice you can apply in your own deals. Stay tuned!