The Best Ever CRE Show JF3380: Unlocking Commercial Real Estate Opportunities in 2024: Navigating Distressed Deals and Market Realities
Dec 6, 2023
31:24
Commercial real estate expert, Reid Bennett, joins host Paul Mueller to discuss the trends and challenges that investors should keep an eye on as they navigate the complex landscape of commercial real estate in 2024. From rising insurance premiums to supply chain issues, Bennett shares valuable insights that will help investors make informed decisions in the coming year.
Key Takeaways
- The Three Ds of Selling: Bennett emphasizes the importance of monitoring owners' motivations, often driven by "death, disease, or divorce," which can lead to opportunities for investors. Additionally, lenders are facing tough decisions as debt service coverage ratios drop, potentially resulting in distressed property sales.
- Timing the Market: Bennett advises investors not to try to time the market's bottom but instead to focus on deals that make sense with today's debt. He highlights the potential for deals to work out well even with current interest rates, stressing the importance of realistic assumptions.
- Prepare for Distressed Opportunities: With a prediction of increased distress in 2024, Bennett suggests that investors act swiftly when opportunities arise. He cautions against overestimating rental increases and expense reductions, advocating for a conservative approach to assumptions.
- National Council Chair of Multifamily Properties for SVN, a full-service commercial real estate franchisor of the SVN® brand comprised of over 1,600 commercial real estate advisors and staff that continues to expand across the globe. Multifamily real estate broker who works without council to serve multifamily clients in over 170 markets around the country.
- Based in: Chicago, IL
- Say hi to him at:
- Best Ever Book: Insider’s Edge to Real Estate Investing by James L. Nelson
- Greatest Lesson: Hire a coach, and if you don't have an admin, you are one.
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