Ken Gee's Path to Over $2 Billion in Real Estate Deals + The Importance of Underwriting in Today's Market
Join us in this insightful interview as Ken Gee, Founder and Managing Member of KRI Partners, shares his remarkable journey to achieving over $2 billion in real estate deals and his expertise in underwriting multifamily properties in today's market.
With over 25 years of experience in real estate, banking, private equity, and multifamily investing, Ken's valuable insights are sure to inspire and educate both new and seasoned investors.In this video, Ken opens up about his personal story of transitioning from a corporate job to becoming a successful real estate investor.
He highlights the importance of taking action, seeking guidance from experienced professionals, and the invaluable role of mentorship in achieving success in the real estate industry.
Ken is passionate about helping others overcome underwriting challenges, an area that has posed difficulties for many aspiring investors in the past.
Throughout the interview, Ken candidly shares his own experience of stress and self-doubt during his first real estate deal. He emphasizes the criticality of having a knowledgeable guide to navigate the complexities of the market.
Today's real estate landscape has undergone significant changes, with increased accessibility for inexperienced investors and a growing need for improved underwriting skills due to market uncertainties. K
en encourages interactive discussions during the presentation, reminding viewers that real estate investing involves high risks and the potential loss of principal.
Ken also delves into the transformation of the real estate market over the past few years. He sheds light on the transition from a time when builders faced no supply issues to the current scenario of oversupply in certain markets, making it more challenging to generate profits. Additionally, higher interest rates have posed obstacles in deal-making, and equity funding for property improvements has become more prevalent, impacting returns. Ken highlights the evolving landscape of lending requirements, with agencies emerging as a favorable option for refinancing instead of bridge loans. Underwriting itself has evolved, shifting focus from projecting income to meticulous scrutiny of projected rents and operator experience. One crucial aspect discussed is the changing dynamics of rent growth projection. In a market experiencing softening rents and occupancy, Ken emphasizes the need for meticulous scrutiny of projections and thorough stress testing of assumptions before seeking funding.
The video further explores the three key risk categories involved in underwriting a property's potential cash flow increase through rent growth. He also underscores the significance of comprehending upside potential and mitigating risks when making promises to investors. They address the impact of inflation on property management expenses, stressing the importance of not overlooking property management execution.
To illustrate the power of long-term investing, the speaker shares a personal wealth plan, showcasing how consistent and strategic investment approaches can yield significant returns, using their own success as an inspiring example.
Don't miss out on this enlightening conversation with Ken Gee, where you'll gain valuable insights into underwriting multifamily deals, navigating market changes, and optimizing real estate investments for long-term success.
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