Bay 2 Wall

CRE Investment/AM Analyst in Canada| Early 20s |Saving 90%+ to invest in Value Add U.S. Real Estate| Data driven analysis | Here to learn

[Bay 2 Wall @Bay2WallCRE]

Quick intro for new followers:

- 23 (almost 24) years old, 2 years of experience, graduate from top Canadian undergrad business school

- current analyst at a Large Candian RE shop on the investments/AM team. I want to do value add / high upside deals... we are more conservative.

- I am actively looking for new roles where I would be doing a ton of deals and learning fast but am still learning a ton every day at work (and on X)

- I am open to relcoating to US or staying in Toronto

- I have gotten some offers but none good enough to justify leaving my (objectively pretty good) current seat.

- I am obsessed with RE investment and creating value in unique ways that most ppl overlook e.g. special situations, distress, value add etc.

- this daily challenge is done before work in the mornings and late at night before I go to bed. I just want to ramp up and learn as fast as possible.

- ultimately, I want to do my own deals.

- Given the amount of hours I work, It is hard to keep up with DMs etc while making 1 in depth post a day, getting to the gym daily, and being first in, last out at the office in person every day

- we are often working weekends because of live deals, executive asks, and generally being understaffed at all times.

- I would love to have a new role by the end of the year if not earlier

- feel free to reach out, would love to chat with anyone and see how I can help you.

[Shrake Mosabi @ShrakeMosabi]

@Bay2WallCRE What is you are wanting, trying to achieve? New role in CRE? Tell me more about what you are wanting to accomplish.

[Bay 2 Wall @Bay2WallCRE]

final thoughts

- If i can master all these and do these indpenedly with limited input from the team, I can actually run a process on my own

- being able to successfully do this, I will be able to better run and operate my own commercial buildings one day

- and I will also become a better leader, CRE professional, and build my credibility and experience

[Bay 2 Wall @Bay2WallCRE]

Day 197 of posting a deal a day until I get a new role in CRE🧵

Have a large commercial deal >$100mm closing this week,

I will explain how a deal actually gets done and how to actually execute.

Will be a longer thread but comprehensive. This is how large RE firms sell buildings:

I am trying to go from analyst to running the entire deal... here is how it works:

[Bay 2 Wall @Bay2WallCRE]

7) post closing

still more to do
- I also have to submit the formal requests to scrub the property off the live company website, blast out the formal national closing notification to the wider company, and manually log into our systems to update three separate internal data repositories

[Bay 2 Wall @Bay2WallCRE]

thanks for making it this far, feel free to leave any feedback / comments

[Bay 2 Wall @Bay2WallCRE]

Day 196 of posting a deal a day until I get a new role in CRE Value Add, Investments, Special Situations🧵

Looking at this BTR 4 plex coming to completion in Texas. The numbers look decent and the submarket has solid vacancy stats

Advertised as hands off = can't manipulate opex much... but is there enough of a delta between asking price and stabilized exit? Let's find out

[Bay 2 Wall @Bay2WallCRE]

final thoughts on the deal

- there isn't much you can do as a value add investor because opex is literally fixed since this is advertised as a "hands off" investment as PM is given by the company and taxes, insurance, hoa etc are all fixed in this case

- maybe some movement with repairs and maintenance, but for a new build you won't need to underwrite much

- this is a good deal for someone with 100-200k to deploy and wants to get a comfortable 8-10%

- so if you can't add value / manipulate opex, your only bet is raising rents which are constrained by the market and comps since there are like 200+ of these same type of units

- the only way then to drive returns is lowballing

- I would NOT do this deal because I need higher returns, but if they want to give it to me under $425k with their financing, I wouldn't say no.

[Bay 2 Wall @Bay2WallCRE]

overall i think it went okay, it was super quick and likely will have to meet some more people for next round

apparently they have been trying to find someone for 6 months which is annoying because I know they are going to move super slow

let me know if you have any questions or feedback

[Bay 2 Wall @Bay2WallCRE]

Day 195 of posting a deal a day until I get a new role 🧵

had a 2nd round interview this morning and have to finish building 4 data rooms this afternoon, so super strapped for time

will talk a bit about the case study since they asked about it in the interview. it is the same one below
https://t.co/qYcSAqi7qT

[Bay 2 Wall @Bay2WallCRE]

Day 181 of posting a deal a day until I get a new role

Ended up sending this off. will explain key takeaways

[Bay 2 Wall @Bay2WallCRE]

3) general questions
- was more conversational, will be a slow moving process

- I think they liked the slides and how I laid out my idea

- the model is not as important as the strategy

- what I tried to explain is that IRR / moic etc... is important but stress testing a million scenarios doesn't matter what matters is getting a strong tenant in and a good capital markets team to help execute and get a strong exit cap