JF3436: How to Combat Rising Material Costs ft. Andy McQuade

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 31 January 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to the Best Ever midweek news brief, a new series where we will highlight the top headlines CRE investors should be paying attention to this week, followed by a deep dive on a larger news topic or trend alongside a CRE expert.

Today’s Headlines:

Retail is Back, Baby: Retail vacancy has hit a 17-year low, prompting landlords to withdraw the rent discounts and concessions they’ve been offering struggling tenants since the pandemic. This signals intensifying competition, meaning that retail may officially be back.
PHX Leads in Q4 Apartment Demand: Apartment demand in Q4 outpaced pre-COVID norms in some key markets, with Phoenix leading the way with an absorption of nearly 4,300 units in Q4 — close to 3,500 more than the annual average in the decade leading up to the pandemic.
Rental Fraud on the Rise: According to a new survey from the National Multifamily Housing Council and the National Apartment Association, more than 70% of major apartment landlords say they have seen an increase in fraudulent rental applications over the past 12 months. With this report, it appears that this problem is here to stay. (Here’s our previous episode on how renters are using TikTok to defraud landlords.)

Today’s Guest: Andy McQuade is the principal of The ARM Companies, which provides procurement and management consulting to clients in the real estate industry. Andy joins host Paul Mueller to discuss recent JLL reports which suggest that material costs are expected to increase in 2024 by anywhere from 2-6%, but electrical and related switchgear costs could be higher as companies continue to face labor and availability issues. Meanwhile, HVAC manufacturers and suppliers have also announced price hikes as high as 10% in some cases.

Andy McQuade | Real Estate Background

Principal at The ARM Companies
Previous episode:
- JF3265: Save Six Figures on Your Next Project With These Construction and Efficiency Upgrades
Portfolio:
- Self-Storage
Based in: Rochester, NY
Say hi to him at:

Sponsors

BAM Capital

Transcript

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1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or
1:15.5	consider any investment or course of action.
1:18.7	For more information go to Best Ever Show.com.
1:21.8	Welcome to the Best Ever Show, the world's longest running daily commercial real estate
1:26.4	podcast.
1:27.4	Our hosts interview commercial real estate experts every day to get you the best advice ever with none of the fluffy stuff.
1:34.4	Hello best ever listeners and welcome to the best real estate investing advice ever show.
1:39.0	I'm your host for today, Paul Mueller, and we're back today with another best ever midweek news brief,
1:45.2	where we'll run through some of the week's top CRE headlines for you, then invite an expert in to discuss
1:50.3	our top story before sending you off for your day, hopefully a little bit more informed.
1:55.8	In today's episode, retail is back, apartment demand outpaces pre-Covid norms, and rental application fraud is alive and well.
	...

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