JF3762: Bridge Debt & New Supply: How One DFW Owner is Weathering the Perfect Storm ft. Stephen Lee-Thomas

The Best Ever CRE Show

Best Ever CRE

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

4.8 • 983 Ratings

🗓️ 22 December 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Best Ever CRE Show, Stephen Lee-Thomas joins host Slocomb Reed to discuss his journey from IT professional to full-time multifamily investor. Lee-Thomas explains how he started as a passive investor in 2017 before transitioning to becoming a GP with a current portfolio of 1,400 units across six properties valued at over $100 million. He focuses on value-add properties in the Dallas-Fort Worth area, where he has experienced both successes and challenges, particularly with properties purchased using bridge debt during the recent interest rate increases. Lee-Thomas shares insights about market cycles, emphasizing that while some properties are currently struggling with debt service, he remains optimistic about future opportunities, especially given the lack of new construction starts and continued population growth in Texas markets. He stresses the importance of choosing the right partners and being prepared for challenging times in multifamily investing. Sponsors: Altra Running Sunrise Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:42.1	The biggest eye-opening moment is when things have gotten really tough,
1:47.6	you really have to lean on each other as partners. It's so important to get the right partners when
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