Steve Fletcher @sfletchh

Rising insurance costs seem to be prevalent in every market, not just those in coastal regions. Our broker smokes Marlboro reds inside her home office and rips phone calls all day- she’s a rare breed with a vast network, and we’re happy to have her in our corner. Insurance…

Guiding Principles for Broken Arrow Holding: 1.) Focus on supply constrained markets 2.) Underwrite and utilize leverage conservatively 3.) Don’t speculate on future interest rates, rents, or anything else we can’t control 4.) Target locations where we have a competitive…

Very excited to announce the Annunciation Project! A duplex built in 1920, converted into 4 beautiful apartments, and situated in the Uptown New Orleans Historic District.

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How an embedded sense of urgency contributes to your internal flywheel: One of the prominent concepts in Sam Zell’s, “Am I Being Too Subtle” is the importance of moving quickly. “I’ll occasionally add, “I can speak slower if you want,” to ensure my point is received. I can seem…

This might sound crazy to some, But there is such a thing as making your apartments "too" nice. Layering marble into every corner of a unit doesn't necessarily equate to top of market rents. Many more variables at play: 1.) Location (most important)- you'll have more more…

I tell everybody I like that their first property needs to a multifamily purchased through the FHA (Federal Housing Administration) program. Why? You only get so many opportunities to put down less than 20-25% for an asset that can make you money and/or allow you to live for…

I often get asked why we favor long-term holding periods vs. selling assets every 5-10 years. The answer has a few components: 1.)  We target supply constrained markets where it’s incredibly difficult to execute construction (historic districts, geographic constraints, etc.)…

One thing I've experienced in expanding into a new market: A learning curve. Every city has countless sub-markets and within those are corridors that are unique and bring their own quirks/amenities into the picture. It's very easy to drive a city over the course of a few…

Correctly predicting gross rental income is one of the most important parts of underwriting real estate- you often can't nail it to a T but you can get quite close. Market rents will tell you a lot, but you need to blend: -Where exactly the property is vs. market rates in…

One of my favorite books is “How to Stop Worrying and Start Living” by Dale Carnegie. A famous concept in the book is to “keep your supply lines open,” which alludes to always maintaining a backup plan. In the context of the work, the open supply line was a job at home that the…

One of my favorite excerpts from this morning’s Bright Build newsletter by @seandsweeney: “And often, what the seller needs is for you to understand what the property means to them in the context of the wider neighborhood. Remember that I specialize in urban infill. I want to…

Before taking any leaps into real estate, it's crucial to conduct thorough due diligence to uncover potential pitfalls, your angle to add value, the process it entails, and the cost. This just means: you need to find out what’s wrong with the property and the plan to resolve it…

I took this picture after purchasing my first multifamily property and specifically for my Mom. I was 26 at the time and working for a development company based in New Orleans. I understood the nuances of underwriting, entitlement/renovation processes, and property management,…

Have noticed myself explaining the difference between funds and deal by deal syndications to potential partners and this perfectly summarizes it.

Moses Kagan @moseskagan

7 months ago

Have noticed myself explaining the difference between funds and deal by deal syndications to potential partners and this perfectly summarizes it.

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Getting to the whisper price: Every owner wants to sell their property at top dollar- totally get it. But, How do you close the rift between their ideal price tag and the price you need to acquire the property? Sometimes you can't- keep it friendly and keep it moving. For…

Increasing the likelihood of finding a gem: Deal flow is the life blood for any real estate operator. If you can’t source good deals, you’re playing a losing game. So, how does one position themselves to receive deals and how do you create that pipeline? 1.)    Determine your…

Setting the tone for your spaces: I consistently look at apartment buildings and one constant theme is the poor condition of entryways and communal spaces. Outside of servicing maintenance requests in a timely fashion, one of the biggest things owners can do to show tenants…

Recently had a phone call with a close friend and was discussing the current real estate market. I started to mention the type of deals that we can take on and was quickly asked to explain what each one meant. He can't be the only one. So, here's a breakdown of the different…

Acting out of good intent is easier for some than others but, it can create life changing opportunities and friendships if done properly. What does this look like and how do you go about it? For me, this is an individual who treats people well, makes the right choices, and…