Robert Weathers

GTM in Multifamily is hard. Really hard. Risk tolerance is low Stakes are high Fixed expenses have soared Budgets are tight Innovation is accelerating There is very little room for a bad purchasing decision. BUT - there is still so much that we can improve in Multifamily. Resident experience, back office, role specialization. So how do innovators break through? How do they instill trust? IMO - the best investment that PropTech vendors can make right now is content. Not AI created generic content. Deep, thought provoking, insightful, thought leadership content, video content, key employee led content. Put your flag in the ground on exactly what problem you solve for - and own your category. Be there when your buyer searches with super strong buyer enablement. 76% of software purchases in Multifamily are made outside of the IT department. Buyers are craving information - they are craving transparency. Bold - but in Multifamily over the next few years I think that GTM will be the deciding factor on whether the start up survives or thrives. . . Doesn’t matter how good the product is.

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Tired of reviewing offering memorandums for 1-2 hours every day? I recently built a GPT that reviews OMs for you and extracts only the details you need to decided whether to dig into the deal or not. Here are the details it currently extracts: 1) Multifamily sub-type (Garden, Low-rise, Mid-rise, High-rise) 2) Address 3) Broker Company 4) Broker Name 5) Asking Price, In-Place Net Operating Income, and Asking Cap Rate 6) Land Area in Acres 7) Year Built and Year Renovated 8) Building Size in SF (if multiple buildings, list each building's size separately) 9) Number of Units 10) Details of the unit mix (each unit type is a separate row): Unit type, Beds, Baths, Unit Count, Average square feet, average current rent, average market rent. 11) Rent comparisons (each property is a separate row): Distance from the property, year built, number of units, average square feet, average rent. 12) List of the different amenities 13) General description of the property and other key facts that you think are relevant Send me a DM if you're interested in trying this tool out! Note: It's not perfect and every OM is different, but the more you use it the more it will be trained to look for what you need. #realestate #chatgpt #efficiency #decisionmaking #investmentcriteria

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Why I'm Bullish on Multifamily Real Estate The U.S. apartment market is really surprising us in 2024. We’re seeing a ton of new apartments coming online, but demand is still strong, keeping occupancy rates stable or even rising. Here’s why I’m excited: → Strong New Demand: High-income new residents and pre-pandemic rent-to-income ratios are back. → Focus on Occupancy: Operators are prioritizing keeping units filled over raising rents. → Supply Impact: The increase in supply is balancing rents, but this might change by 2025-26. Even with all the new supply, demand is holding up, showing just how resilient the multifamily market is. While we might not see immediate rent growth, the trends are definitely encouraging.

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💥 The Austin, TX, short-term rental (STR) market is evolving. While recent years' growth may be leveling off, there are still lucrative opportunities for savvy investors. Key Takeaways: - Revenue Growth Plateaus: While still profitable, the revenue growth of the past seems to be leveling off. - Listing Saturation: The rapid increase in listings is slowing, indicating a more mature market. - Average Revenue Fluctuations: After declines in 2022-2023, 2024 has started strong, hinting at a potential rebound. - Peak Seasons: Austin's unique dual peak seasons (spring and fall) continue to drive demand. - Property Size Matters: Larger properties (6-10 bedrooms) consistently outperform smaller ones, but there's a sweet spot for revenue per bedroom. - Amenities = Premium: Hot tubs and pools significantly boost revenue, with hot tubs commanding a notable premium. #shorttermrentals #realestateinvesting #Austin #Texas #airbnb #vrbo

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As someone deeply invested in the transformation of data utilization in the multifamily industry, I see Entrata’s decision to implement API fees as a step towards a more robust ecosystem. The truth is, advancements in technology come at a cost. According to industry research, nearly two-thirds of technology companies rely on fees associated with APIs to drive revenue and fund ongoing improvements. APIs are increasingly recognized as products in their own right, capable of generating significant revenues. This trend is underscored by examples like Amazon Web Services, where APIs contribute substantially to Amazon’s profitability, highlighting the economic impact APIs can have when leveraged as a revenue source. This financial model is not unique to our sector but is a proven practice across various industries where technology plays a critical role. For years, the limitations of outdated systems in the real estate industry have constrained its potential. We've all felt the frustration of interfaces that promised the world but delivered very little. The reality is that building reliable APIs that provide adequate data access involves substantial costs. To expect the architects of these systems to bear the financial burden alone is not only unrealistic but also counterproductive to the goal of achieving a seamless data pipeline that runs across systems. Consider this: the alternative to an API fee can be an across-the-board price increase, which impacts every user regardless of their usage intensity or the value they derive. There is also the option of going back to a world without APIs which was a reality not so long ago in our industry. By implementing a fee structure for API usage, companies like Entrata are choosing a path that allows for the direct correlation between use and cost. This isn't just fair; it's strategic, enabling the reinvestment of these funds to enhance and expand the very tools we rely on to build our businesses. Entrata seems to be actively working to build what they refer to as a "partner ecosystem." This effort to me represents a real commitment to enhancing collaboration and access. I understand the recent frustration in the ecosystem since something that was once free now comes with a price tag. But let's not lose sight of the larger picture—a vision where these investments lead to tangible enhancements in how we manage properties, interact with data, and serve our communities. To me, the adjustments Entrata is making promise to enhance data utilization to better manage our properties and serve our communities. As an optimist, I believe we will look back at this as a step in the right direction for the industry at large.

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The CCIM Institute's 101 course might be the most important curriculum in the history of commercial real estate. People say you shouldn’t buy a course on #cre. Wrong. Fortunes have been made with these basic concepts: - Without leverage, pre-tax/post-tax - With leverage, pre-tax/post-tax - More > Less, Sooner > Later - Compounding/discounting - Net operating income - Internal rate of return - Time Value of Money - Net present value - Cap rates 🤤 Take this class— you’ll be ahead of 90% of people in the business.

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I recently had the opportunity to sit down with Andrew Teitscheid the CRO at Mahdlo Executive Advisors as part of our ongoing discussions for a brief interview as to my thoughts regarding Sourcing Strategy through the eyes of financial executives. I hope you enjoy it. #Sourcing #Financial #eProcurement

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Didn’t see this one coming…Yardi is buying WeWork! For the second time in as many weeks, a large tech player in multifamily buys a well-known company that is outside of their core business. At first glance, this might seem puzzling, but it indicates a trend in our industry: Companies are starting to think about how to build end-to-end ecosystems and embrace vertical integration (I can't say this is why Yardi made this move, but it is a trend to watch for). Why? 1. Deep Insights: There’s no better way to understand how to truly add value for B2B customers than by operating a business similar to theirs. 2. Data, data, data: In the age of hyper-personalization, data is the fuel that drives customer loyalty. 3. Consumer Preferences: Consumers are increasingly willing to pay a premium for ecosystems that are seamless, provide a consistent UX, and simplify their lives. Think Apple. 4. Innovation and Growth: Diving into new verticals helps companies break out of the incrementality rut and discover ways to disrupt and catalyze their core business. This is just the beginning. As more companies realize the advantages of vertical integration, ecosystems, and data-rich strategies to deepen customer relationships, expect to see further consolidation in the multifamily tech space.

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What does this say about Denver's retail market? --> Tenant demand for retail space remains strong in Denver due to retail inventory growing at the slowest pace of all major asset types in Denver. --> Lack of new construction has also driven investor demand for small to medium sized retail centers. If you own a retail property and are considering selling or an investor looking for retail property to purchase, please contact me to assist you with your transaction. 720.560.3430 or cw@cwrepartners.com #investmentproperty #retailsale #retailproperty #marketupdate #retailmarket #retail #denverrealestate #commercialrealestate #commercialpropertyinvestments

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Just reviewed the comp data for #Starbucks. It's not looking good. - Inventory hit an all-time high since we've tracked the data - there are now 187 deals on the market. - The normal run rate is about 10 deals sold per month. In the last 3 months, there have only been 7 (2.3 per month). - Supply is simply outpacing demand. 26 new deals hit the market last month. And even if 10 deals sold each month, the build up continues. So how do you stand out amongst a sea of 187 deals? I think there are two ways: - You find creative ways to market your asset - i.e. the more eyes on your deal, the more likely you'll find your buyer. - Simply said: You hustle! Return every call, every e-mail and chase down every lead you find. Happy to share our report (principals or brokers who have comps to share).

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Donald Davidoff wrote an outstanding piece on Multifamily Insiders about CAPs. “It's Time for a Multifamily Connected Analytics Platform (CAP)” “This is the idea that data sourced across multiple transactional software applications and shared across multiple company functional areas transforms decision-making in all facets of operations and asset management. It realizes the goal of “Better decisions, faster.” “But to get the full value of connected analytics, it’s not enough to just have a business intelligence application. It’s also about what to do with the data once you have it. That’s where predictive analytics comes in; and that’s why we need a platform, not a point solution.” His article is a must-read for anyone who owns or manages multi-family properties. Data is everything in our world and I think he’s right, there is a definite need for more quality data usage in multi-family housing. https://lnkd.in/efr-DpVB Take a look and let me know what you think. #RealEstate #RentalMarket #HousingTrends #multifamily https://lnkd.in/egVkuRfa

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Virtually every call lately investors want to discuss multifamily supply…over supply…historic supply. The gravitational pull to negative headlines is frustrating. No one is talking about demand! The first six months of 2024 had the highest 1st half multifamily absorption in 20+ years, second only to 2021. Please, read that again. We’ve been saying it for well over a year, the current multifamily dislocation is not a case of broken assets, it’s a case of broken balance sheets. This is a massive repricing exercise. The bottoming process in illiquid assets requires patience. We are still early days in this process, but firmly believe that strong asset level fundamentals coupled with a mountain of equity that has been raised to buy this correction puts us very close if not at the short term bottom for multifamily valuations.

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There are a lot of vacant office buildings across the US and lots of medical tenants looking for space. Seems like a match made in heaven. But it's not that simple. Here's some context from a top healthcare investor we work with: If a vacant office building is in a great location and seems like a perfect fit for medical, then odds are the LL has already been approached multiple times by medical tenants looking for space. If a deal wasn't struck, it could be for a few reasons: 1. The physical nature of the building doesn't allow for medical use. ie (lack of parking, lack of elevators or wrong size elevators, building access, power capacity, etc.) 2. The economics of the deals just didn't pencil. Quality medical tenants can require significant TI's to get up and running. If the asset is is distressed, the current LL may not have the funds to pay for them and may not want to bite the bullet and sell to another investor who does. You might be thinking, what about just buying a non-distressed office building and converting the space to medical? Maybe a building with short term leases? It's a good idea in theory, but in practice these deals are historically very hard to finance. Telling a lender you're going to buy a short-term WALT office building (with the hopes of converting it to medical)? That's a tough sell. So while this isn't to say there aren't medical office conversion opportunities out there (because there are), the notion that medical office will take over all of these vacant office buildings is a more of an idea than reality.

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Blox just finished a pilot with an NMHC Top 50 owner that revealed two data points that surprised me: * The average move-out balance was > $3,800 * It took 10 outreach attempts, on average, to convert a balance owed Now, imagine AI as an extension of your team, working behind the scenes to make those outbounds happen faster and more effectively. Here’s what that world looks like: 🌟 Always On: When you’re off-the-clock, AI is up, chipping away at those communication cycles to bring in payments. 🎯 Custom Fits: AI suggests payment plans that reduce sticker shock and optimized toward getting a “yes”.  🔍 Learns and Adapts: Using past behaviors and payment histories, AI continuously tweaks its strategy to get better over time. Interesting? I think so! P.S. I love DALL•E, can ya tell?! 🤓

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SignalFire's annual "State of Talent" report for 2023 is out and it's really interesting. Some of the key takeaways: 1) Austin is the fastest-growing city for top tech talent by percentage. 2) New York City is gaining the biggest share of relocating tech talent. 3) Silicon Valley is losing the biggest share of relocating tech talent, but is still growing in net head count. 4) Gen Z talent is being promoted to management slower than past generations. 5) Gen Z workers switch jobs 2x faster than those in Gen X. 6) VC-backed founders are older than a decade ago, with the oldest in sectors like life sciences and cybersecurity. 7) Data is maturing from an analyst- and scientist-centric role to an engineering-focused discipline. 8) As demand for AI talent grows, a declining percentage of AI hires have graduate degrees or prestigious schooling. 9) Silicon Valley still hosts the most AI talent, benefiting from the recent AI startup boom. Will we see these patterns continue or is the the pace of innovation with AI and other tech verticals so fast that entire new trends will present themselves? Given the rapid pace of innovation and various talent trends evolving post pandemic it has never been more important to have a RE/Workplace strategy fully aligned with talent strategy. Thanks Josh Constine for sharing. Link below to read the full article: https://lnkd.in/g8FAKhKF

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An article published in the WSJ earlier this week pointed out that big tech companies are letting leases expire or looking to unload some offices. I see two needs here: 1. more flexible office solutions for big tech employees as an alternative to their former offices and 2. the need to help recuperate costs on unused traditional office spaces We at Engel & Völkers Work Edition can support with both.  Our Shared Office Solutions (SOS) product excels in optimizing and enhancing the flexibility of your sublease space, ensuring it stands out from the rest. Allow us to assist you in truly recuperating your otherwise lost rental expenses efficiently with SOS, rather than blending in among hundreds of other subleased spaces on the market. https://lnkd.in/eY4Y85rH #officespace #flexoffice #sublease #sharedoffice

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With NVDA stock split, there are lots of voices online saying things like "They're just trying to rip us off." But is that really the case? Let's look at the data before jumping to conclusions. As shown in the chart, with in the past 10 years, NVDA stock has gone through three recent growth phases. The chart shows monthly index data, with the horizontal axis representing months and the vertical axis representing the stock price as a multiple of its value at the start of the period. The current phase is shown by the blue curve, and we're currently in the 15th month. The previous growth phase lasted 28 months, and the one before that lasted 38 months. The current growth curve is closely matching the one before it. Using the 28-month duration of the last growth phase as a conservative estimate: - With a simple linear projection, the stock price at the end of this growth phase is expected to be about 5.6 times its value at the start, which would be around $155. - Using the curve from the previous phase, the stock price at the end of this phase could be about 8.4 times its initial value, which would be around $233. If we take a more optimistic view and use the 38-month duration of the phase before last, and use its growth curve for prediction: - The stock price at the end of this phase could be about 13 times its initial value, which would be around $360. So, the duration of the growth phase and the slope of the growth curve are really important. Right now, the growth rate is pretty much in line with the last phase, meaning it's growing quickly with acceleration, not just linearly. The big question is whether this phase can last as long as the 38 months of the previous phase. If it can, then the current stock price hasn't even reached halfway, and it would definitely be worth adding more to your holdings! What do you all think? How long will this current growth phase last? Leave your thoughts in the comments: (1) Less than 28 months, (2) 28-38 months, or (3) More than 38 months. #stockmarket #stockinvesting #usstock #nvidia #nvda #stocksplit #英伟达拆股 #英伟达拆股是割韭菜么

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From Solo Act to Team Captain: My Struggle with Micromanagement (and How It Made Me a Better Leader) The early days in commercial real estate were thrilling. Every deal felt like a challenging puzzle, one I was determined to solve myself. It fueled a sense of independence, but looking back, it also meant long hours and missed opportunities. The turning point came when I made a critical strategic mistake early in my career that killed a deal for my client. It was a wake-up call that exposed the downsides of my solo act. Instead of a lone hero, I realized I was leading a team. My need to micromanage wasn't just exhausting, it was hindering their growth. So, I began the process of becoming a more collaborative leader. It wasn't easy. Trusting others with key tasks initially felt like letting go of the controls on a fast-moving train. But a funny thing happened – the team thrived. Their diverse perspectives and expertise led to better outcomes. Negotiations became smoother, deals more impactful. I wasn't the sole star anymore, but the team was, and that, I realized, was a much greater success. Here's what this journey of (slowly) letting go has taught me: Strength in Numbers: Surrounding yourself with talented individuals isn't a sign of weakness, it's the foundation for a strong team. Different skills and viewpoints lead to better results. The Power of Empowerment: Delegation isn't about shirking responsibility, it's about unlocking the potential in others. When you trust your team with ownership, they shine. Leading from Behind: The best leaders don't always have to be at the front. Sometimes, the most impactful leadership comes from guiding and supporting from behind, allowing the team to take the lead. Let's be honest, this journey is a work in progress. There are still days when I want to jump in and solve things myself. But now, I see the strength in collaboration. We're no longer solo performers, but a team navigating the commercial real estate landscape together, stronger for it. #commercialrealestate #leadership #collaboration #growthmindset

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How Downtime Fueled My Growth... Let's face it, the early days of the pandemic weren't exactly a walk in the park for commercial real estate. Deals slowed down, projects stalled, and uncertainty filled the air. But for me, that unexpected downtime turned into a golden opportunity for growth by taking advantage of the NAIOP Education programs. See, I've always been a believer in lifelong learning. But with the usual hustle and bustle of CRE, carving out dedicated time for professional development can be tough. So, when the world hit pause, I decided to hit the gas on my own education. NAIOP's certificate programs had always been on my radar, and suddenly, I had the perfect window to dive in. Over the next few months, I invested well over 100 hours into those challenging courses. It wasn't easy – late nights spent poring over case studies, weekends filled with virtual lectures. But the reward? Earning both my NAIOP Certificate of Advanced Study in Commercial Real Estate Development and my NAIOP Certificate of Advanced Study in Real Estate Finance. Here's the thing: downtime isn't a dead zone. It's an opportunity to recharge, refocus, and refine your skillset. In my case, it allowed me to both: Deepen my knowledge: Those certificate programs provided a wealth of practical insights and industry best practices that I can now apply to my everyday work. Boost my resume: Earning that certificate is a tangible demonstration of my commitment to ongoing professional development. My experience is just one example, but it's a powerful reminder that sometimes, the greatest opportunities for growth come disguised as challenges. So, the today with transactions stalling again from the challenging capital markets, maybe you find yourself with some unexpected downtime, don't see it as a setback. See it as a chance to invest in yourself and propel your career forward. https://lnkd.in/g4jCnVFJ What are you doing to make the most of your downtime? Share your thoughts in the comments! #commercialrealestate #NAIOP #professionaldevelopment #lifelonglearning #downturnednotout

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