EDX Residential

Distress Rate Hits All-time High of 13.1% for CRE CLOs. -Data courtesy of CRED IQ

So CLOs are Collateralized Loan Obligations. They're short term which means this is referring to a bridge loan pools backing as collateral for those short term bonds. The default rate has spiked again. For simple speak, this spells buying opportunities. By nature, a very large portion of that CRE will be Multi Family assets.

This is across all asset classes (commercial only). The overall distress rate increased from 8.8% to 9.1% over the past month, achieving a sixth straight record high. Multifamily continued its momentum rising to 11.0% from last month’s 8.4%, a dramatic 260 basis point increase in one month. Just eight months ago, that rate was 2.6%. Did anybody say no recession coming? -Data courtesy of CRED IQ

Not all of you may find this interesting. This is per CRED IQ. Analysis based upon current loan balances of all of the loans CRED iQ tracks within each market and then calculated the proportion of loans that are distressed. Interesting to see Charlotte at the top

Yes!!

The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.
-Martin Luther King Jr.

Another day in paradise touring 4 properties, 604 units in total. Raised another $250k on the way back. Oh it's on like a Donkey Kong!! Look that up gen Z'ers!

Closed!! Our 96 unit is done!! We own this b*ch now 😂 It's been sleepless and contentious week since we were supposed to close a week ago. Seller drama and Lender drama. I nearly got to the point of throwing the towel in at some point yesterday. Congratulations to my team and gracious and generous investor partners. Will take care of this one like a first born!! Now, who wants to invest with us?

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Open houses can be a bit draining. Sometimes dealing with the hassles of having people walk through your house, buyers pulling out last minute, or paying real estate agent commissions can be a bit overwhelming, and some people end up not listing their homes at all.

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