Jack O'Connor’s Post

Many buyers are speaking about waiting for distressed deals to hit the market. In a few years buyers will look back at this time as a missed opportunity to acquire properties at higher cap rates. When rates ultimately drop(if they do), there will likely be a flurry of more activity and buyers in the market, pushing cap rates back down to previous ranges. The time to buy great deals is now. Tour properties, provide feedback, submit offers and hang around the hoop. Investors participating in the market today will be happy they did.

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Internal conversation I had today: One thing that sparks my competitive nature more than anything is coming across listings from other brokers and the sellers are groups we also have a great relationship with. The reason this lights a fire under me is simply because we should be, at a minimum competing for the listing. Multiple other thoughts come to mind as well, one being how much do they actually value the relationship but that’s not as concerning. Needless to say it is what it is. However, the most debilitating reason I receive from groups as to why they didn’t list with us is, “We have purchased more from them.” My response is always, well in the last XX of LOIs you submitted you came in XX percent below where the facility transacted at. Wouldn’t you want a firm that continuously yields top of market results? So much so that even a qualified firm such as yours misses the mark more often than not? In the world of business I respect relationships, but it’s also business. Sellers are obligated to get the highest return for their investors. Anyway, just things I think about! #competition #brokerlife #selfstorage

Occasionally I receive deals from sellers that are highly negotiable. Sometimes a deal has fallen through at the eleventh hour. Other times it’s the end of the quarter or financial year and they’re short of their target revenues. Either way, the seller is looking for a quick sale. Since the new financial year tends to start April 1, I see a lot of these offers come up this time of year all looking to close by end of March. In these cases, the sellers may be looking to sign a contract within a month, some are even looking to close within a week. If you can move fast, there are some deals to be had. But for the majority, it’s not a feasible time frame. Investors may require several months to carry out the necessary due diligence, especially when it’s a property they are not familiar with and even more-so when it’s their first investment. Arranging funds also takes time. As much as we all want these opportunities, the stars rarely align. That being said, there are realtors and domestic investors out there that target these deals. For some, it’s their entire business model. #commercialrealestate #japanrealestate

Always Be Adding Value: Got a call from a local owner asking about a “deal” that another broker sent them. “I know you and your team specialize in this market and asset type. I think this brokers price and projections are inflated, what are your thoughts on this property?” Rattled off a few recent comps and gave him my opinion (also followed up with an email confirming the comps we spoke about). He called me back a couple hours later, thanked me for providing this information and followed up by saying “when I’m ready you’re my guy!” 🔐 Play the long game, provide value without asking for anything in return. Market knowledge and specialization (backed with a proven track record) are key 🔑

When the fix-and-flip market is rough, we need to channel our inner adaptability. Higher interest rates may slow down potential buyers, but by sprucing up your property, we can make it a crowd-pleaser! Yes, it calls for a little extra investment, but it creates a fast-track to competitive prowess. Curious how to turn your property into a magnet for buyers? Let's chat and engineer your speedy sales strategy! #DFWRealEstate #RealEstateExperts #HomeBuyingSimplified #SellYourHomeFast

I’m speculating, but this summer could see a large bump in property transactions. More people in our borders + more properties for sale (financial pressure kicking in) = higher sales volumes. Interest rates will limit the scope for crazy prices, but buyers may finally have choice in the market. This could be a good time for 'upgraders' to make their move. If you want to chat through your property strategy, book a coaching session now: https://bit.ly/3sp37c3

WHY…?   During the GFC I kept asking myself why? Why am I doing this? The market is dead. Why am I making this call? Nobody wants to meet. Why am I meeting? Nobody wants to know the value of their asset. Why am I spending the time to prepare and present a BOV? Nobody likes the value. Why am I accepting this listing? No one will buy it. Why are we going under contract? No one will lend. And most of the time, this was true.   Well, the answer to all of my questions about “why” ultimately showed up in 2015 with north of 8 figures in fee in a calendar year at 33 years old.   Because eventually, those calls that led to meetings, that led to pitches, that led to listings ultimately really led to the most important thing in our business, they led to relationships. And when the market came back, which it did in a BIG WAY, I had meaningful relationships with both the old and new generation of decision-makers, and with that came the deal flow that allowed me to become the #1 agent globally at a publicly traded brokerage company and eventually launch Matthews Real Estate Investment Services™   That’s why.   This market will also come back, and it will come back in a big way. So if you didn’t know already, now you know why you should make that next call. Now you know why you will go on that next meeting and pitch that next deal. Now you know why you will get out of bed at 5 AM and get into the office at 6 AM, over and over and over again. You do these things today so that one day you never have to, even if the probability of an actual deal is low today. Because tomorrow it will be better, and tomorrow is right around the corner.

Kyle Matthews put out a great post yesterday about finding your “Why.” When anything is easy or convenient — business, relationships, a hobby, service, etc. — continuing to do that thing feels effortless. From someone in the E quadrant, transitioning jobs last year was pretty effortless. I see so many of my friends and colleagues in a tough spot right now as macro and micro economic conditions have deteriorated. To those searching for work, always feel free to reach out, and I’ll do what I can to connect you to someone in my network. It’s a good feeling to know you helped someone put food back on the table. I love real estate. I have been working on the principal side for the last 5 years, learning why and when someone or some group would want to buy real estate, what their business plan is and how they intend to execute, and laying the groundwork for me to be able to do that one day. For now, I’m continuing to learn and refine my 👉General investment thesis 👉Acquisitions/Dispositions criteria 👉Execution strategies 👉Network Thanks Kyle Matthews for the inspiring post.

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