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Kyle Kovats Profile
Kyle Kovats

@KovatsMultiFam

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Multi-Family Investor. Target Acquisitions 200-300 Unit, Light Value-Add, Class-A, DFW, Houston. NAR 30 Under 30 #retwit

Hoboken, NJ
Joined August 2022
Don't wanna be here? Send us removal request.
@KovatsMultiFam
Kyle Kovats
4 months
@TheStalwart You’re not seeing the bigger picture here. Boeing is healing the country by bringing back clapping when we land. Long Boeing
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@KovatsMultiFam
Kyle Kovats
3 months
Matt Rempe TEXTBOOK clean hit. Its not a penalty every time a big man nukes a dwarf @NHLPlayerSafety
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@KovatsMultiFam
Kyle Kovats
8 months
Here’s how dumb and corporate some REIT managed properties are. I have a family member who’s lease is up for renewal on 2/1/24, they sent them a renewal notice for $4150/month from their current $4100/month (NJ). Tenant says, “too much we are going to look elsewhere”. PM
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@KovatsMultiFam
Kyle Kovats
1 year
This Canada wildfire smoke covering the Manhattan skyline is kinda wild. I live on the Hudson in Hoboken across from Manhattan and can barely see the empire state building today @mikesimonsen
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@KovatsMultiFam
Kyle Kovats
1 year
Just heard this incredible stat from James Egan on Odd Lots. “1/3 of all homes in this country are owned by people age 65 or older and 50% of those homes were bought before the year 2000” 😮. Now consider Case-Shiller is up 3X since 2000, 4X since 1990
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Kyle Kovats
1 year
In other words a home buyer in 2000 might have bought their “move-up” home at age 42 for $350K. That house is now worth over $1,000,000 and they likely have little/no mortgage left on it and a monthly housing cost of taxes and insurance. They will die in that house before selling
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@KovatsMultiFam
Kyle Kovats
11 months
@slmandel @Benihana94 Yeah thats extremely believable. Or it had to do with the fact it goes against your hit piece and it involved Rutgers defecating on your alma matter. You want to tell me that the athletic dumped money into ads on your hit piece but can’t pay $9/month for twitter blue? I gotta
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@KovatsMultiFam
Kyle Kovats
20 days
@NewsLambert North Jersey. Just had a listing for $899K that had 176 showings and 33 offers in just 4 days.
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@KovatsMultiFam
Kyle Kovats
2 months
@JLazzy23 Chytil looked good on the 1st line. Id swap him and wheeler here and then im all good
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@KovatsMultiFam
Kyle Kovats
4 months
I think the market/people are understating the distress coming to multi-family CRE. Here’s the deal. There is a prominent multi-family “guru” based out of Dallas who in 2021-2022 was banging the table for his mentees to buy 60’s-80’s vintage properties in not such great areas
@aryal1994
Shashankh Aryal
4 months
Foreclosure auction for 602 apartment units in Fort Worth. 1505 Homedale Drive: - 256 units -$23.5mm loan ($92K per unit) - Loan was originated in June 2021 -1980s vintage 7040 John T. White Road: - 346 units -$29mm loan amount ($84K per unit) - Late 70s vintage
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Kyle Kovats
1 year
Cannot even count how many times a day I get this. We are in a low supply environment for a very long time @LoganMohtashami @NewsLambert
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@KovatsMultiFam
Kyle Kovats
5 months
@NHLPlayerSafety 4 games is absurd for an elbow that glances a guys head for a first time offender. 2 would’ve sufficed.
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@KovatsMultiFam
Kyle Kovats
2 years
Email I just got from a lender with some rate quotes 👀. Quoting 30 year conventional rates at 5.875% @NewsLambert
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@KovatsMultiFam
Kyle Kovats
1 year
Later today I will tweet out a more detailed list of questions that I ask GP’s to vet them before investing in their syndicate. Here is the basic overlay, I’ll post the detailed version this afternoon
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Kyle Kovats
1 year
This is a very good piece and worthy of 5 minutes of your time. Thank you, Eric.
@EPBResearch
Eric Basmajian
1 year
Jobs Report Preview: What you should look for in this Friday's employment report.
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@KovatsMultiFam
Kyle Kovats
3 months
In a nutshell here’s a reason why the 100+ unit multi-family space will get VERY ugly unless rates come down. In a time of flat rent growth and rising expenses nationwide, I know some pretty elite multi-family operators who have still managed to grow NOI 20-30% over the past
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@KovatsMultiFam
Kyle Kovats
4 months
@Alex__Monaco If trocheck wouldve laid on the ice, it’s a major tbh
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@KovatsMultiFam
Kyle Kovats
2 years
@AliWolfEcon If the fed pivots and rates hit even 5.5%. Its all interest rate dependent. Historic levels of demand on the sidelines ready to buy
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@KovatsMultiFam
Kyle Kovats
11 months
My guilty pleasure is watching football. Lots of football. All year. Cant thank @CoachDanCasey enough for introducing me to @tschneider1014 . Coach Schneider’s ability to call an offense and innovative nature is hard to put into words. It’s simply incredible. Like who thinks
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@KovatsMultiFam
Kyle Kovats
6 months
@NYP_Brooksie Im full on board with selling this year. Has there ever been a softer team in your memory? Theyre not built for playoff hockey. Theyre afraid to go after loose pucks in the crease and DARE shove an opponent.
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@KovatsMultiFam
Kyle Kovats
1 year
People seemed interested in this yesterday so here it is. The full 23 questions I ask GP’s before I invest in their multi-family syndication with brief explanation of each point. Not a thread guy so just screenshots of my word doc.
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Kyle Kovats
8 months
This is actually a really interesting venture.
@NewsLambert
Lance Lambert
8 months
Not only does @movewithroam show you homes that have mortgages that could be assumable, it also tells you the underlying mortgage rate This home for sale has a 4.25% mortgage rate Austin market 🏡👇
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@KovatsMultiFam
Kyle Kovats
10 months
Did a live webinar tonight for a lot more people than I anticipated discussing why I believe in 2024 multi-family CRE will experience a flash crash. I think the distress will be substantial in particular in the B and C class space. Just uploaded it to youtube if anyone wants to
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@KovatsMultiFam
Kyle Kovats
6 months
@NYP_Brooksie Thank you for stating what everyone else was afraid to say. This team is SOFT. Softest ranger team ive ever watched. No grit, no compete, no snarl. Theyd rather play golf with their opponents then dare shove them after the whistle or god forbid go after a loose puck in the
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@KovatsMultiFam
Kyle Kovats
2 years
@NewsLambert Madness. Seems multiple bids on everything and only 1.2 months supply in the 8 towns I sell most in. 20+ bids on two houses these past 10 days. This is Northern NJ, Essex County.
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@KovatsMultiFam
Kyle Kovats
10 months
This individuals tweet is a common thought by those who aren’t familiar with real estate. The average downpayment in the USA is 6%. But lets even boost it to 20% to make it a fair argument. 20% down would mean $180K down. Over these 18 years the owner would have gained $600K in
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@sickOfWFH
SettledScience™️
10 months
@NimbyPatrol The home was bought in 2005 for $900k… $1.5M is an increase of 67% over 18 years. S&P500 increased ~250% over that same time. It has been a relatively poor investment for the owner… they’re likely selling precisely because they see it as a poor investment moving fwd.
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Kyle Kovats
1 year
@odetakushi An awesome study would be what % of current homeowners would be able to afford their same home with their original downpayment % and current interest rates.
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@KovatsMultiFam
Kyle Kovats
2 years
Conventional 30 year fixed rate loans are back in the 5’s. Jumbo ARM’s approaching the 4’s 👀 @NewsLambert
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@KovatsMultiFam
Kyle Kovats
2 years
Incredible data by Lance. Not sure how every real estate professional hasnt seen this. This should go viral. Amazing. Interactive map at different time periods is something I havent seen before
@NewsLambert
Lance Lambert
2 years
You can find all the data below 👇 The maps, like always, are interactive.
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@KovatsMultiFam
Kyle Kovats
1 year
@chernobelskiy If someone is a very sophisticated LP theyd understand that 7% pref doesnt necessarily mean 7% annualized cash flow distribution during the hold, right? Ive been an LP in nearly 50 deals at this point. I mean you HAVE TO know that if you’re a halfway competent LP, no?
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Kyle Kovats
1 year
@NewsLambert Demand slowing down. Homes that 2 months ago that would have 10+ offers have maybe 1-2 now. Been trending that way past 5-6 weeks or so id say. North Jersey
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Kyle Kovats
8 months
@bknight20 @briannnnf Only weird thing here is knight regularly taking exception to informed fans like Richard Kent and beat reporters like Brian who cover the team for, well, covering the team. If I was him, I’d probably spend less time on twitter and more time watching clinic tape on how to run a
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Kyle Kovats
9 months
@NewsLambert Can it be appealed? Having been in a kw office for nearly 11 years never had our broker ever tell us what to charge and agents charge all different rates. Sounds silly that theyd be found guilty of essentially price fixing.
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@KovatsMultiFam
Kyle Kovats
9 months
Closed the best deal of my career tonight! The future Mrs. Kovats!
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@KovatsMultiFam
Kyle Kovats
2 years
@MacroAlf How would higher mortgage rates lower rent inflation? Wouldnt that steer more people away from the purchase market and increase demand for rentals? Peak rent inflation is already in the rearview @jayparsons
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@KovatsMultiFam
Kyle Kovats
9 months
@AliWolfEcon @jayparsons Anecdotally on the brokerage 1-4 family side we are seeing the same. Theres been a big psychological shift the past month-ish. Buyers are just throwing in the towel. It’s concerning. And I do residential brokerage in North Jersey, one of the more resilient markets in the country.
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@KovatsMultiFam
Kyle Kovats
3 months
@MarkLazerus LOL, go watch golf.
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Kyle Kovats
6 months
@NYP_Brooksie I think its fair to write the column questioning how much this group actually cares about hockey. No compete, no snarl, no bite. Its a really weak group mentally. Feels like playing hockey is a chore for them. Hard group to root for. Torts 2011-2012 team would wreck them despite
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@KovatsMultiFam
Kyle Kovats
2 years
@Sanjeevbhatiala Bonus depreciation. If the car is over 6,000 pounds and used for the purpose of your business then the ENTIRE purchase price is tax deductible. Net effectively if youre in the 30% tax bracket this makes a $50,000 car now just $35,000
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@KovatsMultiFam
Kyle Kovats
1 year
@TheStalwart @tracyalloway @SoBendito Tracy and Joe, thanks for bringing some real estate content. With that said, this guy basically was just spewing his theories. For example how he believes homeownership rate is down when thats factually not true. Would love a data based episode with @jayparsons
@jayparsons
Jay Parsons
1 year
What percentage of Americans do you think are aware that the U.S. homeownership rate is: 1) ABOVE the long-term average, and 2) at the second-highest rate on record outside of the late '90s through mid-2000s period leading up to the housing bubble and Great Financial Crisis?🧵
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@KovatsMultiFam
Kyle Kovats
2 months
Per CRE daily, via redfin, Houston is the lone sunbelt market that cracks the top 10 in rent growth. @jayparsons called this going back to at least the fall. Not enough people are recognizing the story playing out in real time in Houston. Below trend construction, permits down
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@KovatsMultiFam
Kyle Kovats
1 year
@theficouple Average ltv nationwide is 42% for homes with loans
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@KovatsMultiFam
Kyle Kovats
1 year
@hedgie007 @chernobelskiy Anyway this is how I vet all GP’s before investing with them and it’s really helped me avoid the “grifters”.
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Kyle Kovats
1 year
There needs to be a discussion amongst the fed how inflationary 40% of homeowners not having a mortgage and the avg rate for those that do is just 3.47%. The cost of shelter is the lowest of all time. The arbitrary 2% target is unrealistic largely due to this @LoganMohtashami
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Kyle Kovats
10 months
@RothCRE Penn State puts out an alternative index that has overall inflation around 1.73%. Leads headline by about 7-8 months.
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@KovatsMultiFam
Kyle Kovats
11 months
Wrapping up the Amalfi Coast trip tonight. Verdict is in. Sorrento is the best of them all. Great food, inexpensive and great energy. Til next time!
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@KovatsMultiFam
Kyle Kovats
2 years
@DallasAptGP @jayparsons Haha love that, Barrett. Listened to @krystalball go on her typical biased uninformed rant yesterday trying to confirm her priors where she accused yieldstar of forcing rents up and that it has nothing to do with this chart below from Jay
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Kyle Kovats
2 years
@abrazomack @NewsLambert Still a 30 year fixed rate loan at 7% (Im using 7% as an example here) but for the buyer/borrower, due to the seller buy down they pay it as if it’s 5% in year 1 and 6% in year 2. Popular in NJ and was in OKC at a board of realtors yesterday and they were all discussing it too
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@KovatsMultiFam
Kyle Kovats
1 year
@Sanjeevbhatiala The honest answer that some people wont say aloud which has always been better a better indicator than Starbucks? Gays. Are gays moving to the neighborhood? Theres a correlation of values rising when the % of gays increase in an area.
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@KovatsMultiFam
Kyle Kovats
1 year
@BullandBaird @NewsLambert Ive speculated the remainder of the 2020’s will have by far the lowest inventory levels adjusted to population than any time in US history.
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Kyle Kovats
4 months
@AustinWhittRE I think your issue is you try to make something < .1% do seem like everyone does it. Seems like click bait/impression bait a lot of times. Imo you should focus on things that happen regularly for credibility purposes.
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Kyle Kovats
4 months
@AustinWhittRE I’m sure it has happened before somewhere, but I’m on one of the biggest teams in the country, I own the largest real estate school in New Jersey and speak at all different brokerages regularly. I personally don’t know any agents who require that their clients use certain
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@KovatsMultiFam
Kyle Kovats
2 years
@JeffWeniger Tell me you have no clue how housing works without telling me you have no clue how housing works
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@KovatsMultiFam
Kyle Kovats
2 years
@NewsLambert Im telling you, if rates hit 5.5% or below the dam will break. Historic demand on the sidelines. When rates got to the low 5’s in August demand was identical to August-21 in the new home sector
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Kyle Kovats
9 months
@philfolmar23 great season thus far! Watched your game vs St Joe’s and you were electric. Easily a top 10 player in NJ’s class of 2025. Good luck in the postseason and hope to see Rutgers issue you an offer very soon!
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@KovatsMultiFam
Kyle Kovats
10 months
@CoachMaginnis has been watching him some Bixby! Doing an incredible job in year 1 at WP turning that program around. Lost to this same team 32-0 last year, beat them this year 35-12. Extremely well coached every week. CC: @tschneider1014
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Kyle Kovats
9 months
@LoganMohtashami We just went under contract today on our new suburban home. Got engaged 12 days ago so life is happening haha. Felt now was an excellent time to buy considering the seasonal lull in demand and feel we’ve reached peak rates/demand bottom. I think we’ll look back fortunate we
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@KovatsMultiFam
Kyle Kovats
1 year
@MultifamilyMark @JeffFeldman_ Texas has a lot of good but absolutely horrible state when it comes to property taxes. Seems like a perpetual piggy bank
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Kyle Kovats
11 months
Seems to line up with what I see anecdotally. I believe it's higher than 40% here in the northeast.
@FairweatherPhD
Daryl Fairweather ⛅
11 months
My latest piece for @Forbes : Nepo-Homebuyers: 40% Of Under 30s Received Family Money For Down Payment
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Kyle Kovats
10 months
@RothCRE Sure do.
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Kyle Kovats
1 year
@NewsLambert @thedaniariza Yup, North Jersey remains insane. New construction project (2 homes) was pulled from market and now being remarketed towards completion $50K above original ask. Theyll get it too. Ive never seen anything like this. Nothing coming on
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Kyle Kovats
1 year
@CoachDanCasey Underrated? Maybe Kirk Ciarrocca. While his offense looks extremely simple if you dive into it and look at his efficiency numbers youd be surprised.
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Kyle Kovats
6 months
@DallasAptGP They have the votes already. Talked to a member of congress about this today actually.
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Kyle Kovats
2 years
@jayparsons Jay, you nailed it. I am a piece of anecdotal evidence. I live in Hoboken, NJ right across from Manhattan. I have close to $6,000,000 of my own personal funds invested in real estate and not a dime of it is in NYC or NJ because of rent control and their overly burdensome posture
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Kyle Kovats
1 year
@multifam_guy Saw this one on James Eng’s youtube page from his video last week. Operator apparently neglected it down to low 70%’s occupancy and now selling for below loan balance.
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Kyle Kovats
1 year
@jayparsons @NewsLambert these are not in high rise single owner buildings but rather individual units owned by a solo owner, however almost every single rental in Hoboken NJ right now has 5+ bids and are going above asking. Truly remarkable
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@KovatsMultiFam
Kyle Kovats
8 months
@RandallHouseRE Houston has had the highest rent growth/least cuts of any major Texas market t-12. Houston also has had the LEAST amount of construction per capita t-12. You should read @jayparsons and @RealPage data. Houston is arguably the best positioned major Texas market right now. But I
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Kyle Kovats
6 months
I’m not going to name them publicly but lets just say, theres a REIT with pretty decent exposure in NJ that forgot to register their rents with the rent leveling board in a certain town and are being forced to revert rents back to 2010 levels! The crazier part? They’ve directed
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Kyle Kovats
2 years
@NewsLambert The big concern that is impossible to prep for is China. Their entire economy is hanging on by a thread. It almost feels like all borderline dictatorships that they could do something irrational to try to fight off what theyve been putting off for decades as an election comes up
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@KovatsMultiFam
Kyle Kovats
2 years
@2x4caster @cullenroche 100% contingent on rates. There is CRAZY high demand due to a historic demographic patch (this is why rent growth is so high as these people get pushed to remain renters). If rates come down look out 🚀. Tell me what rates are over next few years and ill tell you where prices go
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Kyle Kovats
9 months
@OhRyanMead loved the Buch point about mika and kreider only working with him. Ive been telling people, I know it wont be popular but if youre really going for the cup this season and next, you trade Othmann, Zac Jones and a 2nd for Buch at 50% retained. Kreider-Mika-Buch
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Kyle Kovats
8 months
@MorePerfectUS The two sponsors should be asked A) if they know what BTR stands for. B) what % of homes “wall street” owns. And C) why shouldnt BTR single family home communities be available for those who want to rent?
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Kyle Kovats
6 months
@carkerpox Well, I’m assuming you didnt grow up in the northeast haha. Because in Jersey scrapping during pick up games is just part of the culture of hoops here
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Kyle Kovats
2 years
@GrahamStephan Defining, “retire” is important. Retire as in my bills can be paid without working vs retire and be able to still live a fun life and travel is another.
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Kyle Kovats
9 months
@MacroEdgeRes I’m an LP in two of their funds 1) your tweet is factually just incorrect, they did pause on one of the funds I’m in and that was the smart move until theres clarity on rate path 2) both funds I’m in are performing well overall with DSCR’s 1.25X + 3) this isn’t a stock which
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Kyle Kovats
1 year
@TheStalwart When I saw their main pitch was that I should buy it because the USD was on the verge of collapsing I stopped listening to a word they said.
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Kyle Kovats
2 years
@OGtexasrunner @JerryKopensky @GRomePow @NewsLambert Buyers buy the monthly payment not the price, always have, always will. Data is showing their credit scores on average in 2021 were between 776-788. These buyers are completely fine. Lance’s chart actually shows how cheap their monthly payments are since they bought a year ago.
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Kyle Kovats
1 year
@hedgie007 @chernobelskiy They likely went UC in March if it closes June-22 then shit hit the fan and fed dot plots shifted in a major way. But I will agree there are also some AWFUL GP’s out there as well. MHP’s should always be cash cows as cap compression isnt where return is made in that asset class
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@KovatsMultiFam
Kyle Kovats
5 months
NJ market has been INSANE thus far in 2024
@ResidentialClub
ResiClub
5 months
Year-over-year shift in active housing inventory for sale Florida: +45.8% Mississippi: +28.0% Louisiana: +28.0% U.S. +15.0% New Jersey: -9.1% Illinois: -9.8% Nevada: -32.0% Interactive map: Article:
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Kyle Kovats
9 months
@BLS_gov @LoganMohtashami the fed likes this, I think haha.
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Kyle Kovats
1 year
@Levijameshere Really? Maybe I just know some very strong female operates who crush it because they have zero issues raising capital.
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Kyle Kovats
1 year
@menlobear @nickgerli1 @EPBResearch Adam, I really do hope youre going to ask legitimate questions here. Nick has called 13 of the past zero bubbles. He should face legitimate questions.
@LoganMohtashami
Logan Mohtashami
1 year
Still waiting on the 2021 bubble crash call to happen 🤨
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Kyle Kovats
11 months
@steveanastasiou @NickTimiraos Penn State Alternative Index which leads by 7 months historically.
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Kyle Kovats
2 years
@pusateri_renee @NewsLambert No because borrower must qualify at the prevailing rate to begin with
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Kyle Kovats
2 years
@MultifamilyMad @MultifamilyRob Misleading. End of year always sees the most attrition due to realtor board fees coming due for $400-500 for the upcoming year. Thats not to say more arent dropping now than prior years but its a misleading bit and data point
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Kyle Kovats
1 year
@JeffFeldman_ @aussieflya @jnfaller @acquisizioni Haha believe it or not, I grew up in North Jersey, live in Hoboken and have never once stepped foot in brooklyn and have no plans on doing so.
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Kyle Kovats
2 months
@aryal1994 My guess is that they’re implying if they got handed the keys back they’d be able to transact at a 6% cap rate or lower depending on location and class of property and be made whole.
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Kyle Kovats
11 months
I’d love to organize a large multi-family LP’s conference, say 500ish LP’s. ZERO sponsorships, zero selling, just straight content. The whole thing funded by an admission fee of somewhere between $250-$400ish. Discuss checklists before investing, best practices you’ve seen of
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Kyle Kovats
9 months
I look at different housing markets around the US and still feel as though Greenville, SC is the most slept on market in America. You can get a 2 year old 3-bedroom/3-bath/1300 square foot townhome for $225,000! It’s within walking distance of the Swamp Rabbit trail, downtown
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Kyle Kovats
2 years
@kurtneeper @NewsLambert Buyers dont pay for the buy down, seller does. The buy down makes alot more sense than points if the thought is to refi at a lower rate in 2 years. This will be long but I’ll do a little thread here on it
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@KovatsMultiFam
Kyle Kovats
2 years
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@KovatsMultiFam
Kyle Kovats
4 months
@JohnHamiltonRE Raj & Anna were two people brought on stage perpetually for this guru. There are HUNDREDS of others with not even 1/10 their acumen who own just as many doors and are in just as bad a position. It gets very very very publicly ugly soon. There are loans in worse shape,
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@KovatsMultiFam
Kyle Kovats
10 months
Excellent webinar this afternoon by @jayparsons and the RealPage team. Here are the two big takeaways that I believe are easiest to implement regarding how to improve tenant retention and generally attracting new tenants in multi-family. 1) Offer your tenant credit reporting of
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@KovatsMultiFam
Kyle Kovats
1 year
Tremendous day at the Colorado Association of Realtors Economic Summit! Tried to put on my best @LoganMohtashami act too!
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@KovatsMultiFam
Kyle Kovats
8 months
One of the toughest parts of real estate investing is patience. We haven’t bought an asset in what will be approaching 2 years. During this time, yes you are occupied by your property level operations, following your business plan, etc. But I’d be lying if at times you dont feel
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@KovatsMultiFam
Kyle Kovats
2 years
@NewsLambert Builders slamming on the breaks, finishing their unfinished product and pulling no more new permits. Gonna keep supply super low and when rates fall in a couple years things will be crazy again imo. Most new product in process has buyers already, granted growing cancellations
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