Most people envision living out retirement years in a home with a paid off mortgage, or downsizing to buy a smaller home. In fact, close to 80 percent of people 65 and older own their own homes. However, a growing number of retirees are reimagining the traditional retirement model. Renter households over 60 have increased […]
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by Chris Finlay, Chairman and CEO, Lloyd Jones LLC and Lloyd Jones Senior Living The hotel industry, which was already somewhat overbuilt, has been one of the hardest hit by the COVID-19 pandemic. Even with phased reopening, occupancies and revenues are still at unprecedented lows. The financial distress may be too great for hotels […]
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My dad is a big man. He’s a big, 67-year-old man. And he fell in the shower. Mom called 911. My parents live in a ubiquitous colonial-style, two-story home. It’s an old home where they raised my brothers and me. It’s full of nooks and crannies and secret hiding places, but it’s also full […]
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You know the collection of bobble-heads you bought on a trip to Coney Island? How about that darling doll with only one arm you loved as a child? Tupperware containers with missing lids? All those thread-bare dish towels? Your mother’s cookbooks? Coffee makers, your collection of Johnny Mathis records? Do your kids –and yourself -a […]
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When considering whether someone can live at home alone, it is important to recognize the signs that may lead to unsafe conditions or poor quality of life. One reference is “activities of daily living.” According to the National Institute of Health, “the activities of daily living (ADLs) is a term used to collectively describe fundamental […]
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“It’s not really about aging; it’s about living.” I love this quote from Jo Ann Jenkins, CEO of AARP. But I would go a step further: It’s about aging well. How do we age well? How do we help our loved ones age well? How do we maximize their quality of life? As we age, […]
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Covid-19 has affected all our daily lives. What at first seemed like a virus abroad has quickly crossed borders and disrupted how we live and work. That said, for senior housing operators, this disruption and how we respond to it is a matter of life and death. Critical measures must be taken in order to […]
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By executing a value-add strategy, many investors have been able to increase returns on their multifamily investments. Value-add investments generally target assets that have existing cash flow, but also offer the upside potential of increasing that cash flow through repositioning and implementing improvements to the property. As a result, the property can command higher rents, […]
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U.S. cities such as New York, Chicago, and Los Angeles have long been acclaimed as the cities that support the most opportunity and excitement for young professionals. Today 2.6% of the U.S. population lives in NYC, 1.2% in LA, 0.8% in Chicago. Although these numbers demonstrate how large the cities are, surprisingly each city has […]
Since the Fed announced its rate cut on July 31st, talks of recession have consumed the markets. With the pending Fed meeting on September 17th, it is largely expected that a consecutive rate cut will follow. A continuation of rate cuts would indicate that the Fed believes the US economy is contracting, and thus we […]
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10,000 baby boomers are retiring daily. Similar to the previous generation, baby boomers will be downsizing and seeking a new style of living, but their preferences will be extraordinarily different than that of their predecessors. 4 key areas will shape the way in which baby boomers will retire: 1. Technology: contrary to the generations before, […]
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Throughout recent history, a mark of American status was the spacious home with the plush yard and picket fence. Young couples and growing families strove for this style of living to exemplify their status and enjoy what may be perceived as the American dream.Today, the home with the picket fence is no longer a goal […]
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A few weeks ago the WSJ reported that “U.S. homeownership rate fell for a second straight quarter, as high prices and limited starter-home inventory are steering more households toward renting.” This coupled with the fact that home prices rose over the last 2 decades while wages have remained stagnant (see chart below) confirms that we […]
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Less than two weeks ago, the U.S. Federal Reserve announced its first rate cut since 2008. This decision surprised few given the uncertainty in the economy and global trade tensions. What did perhaps surprise many was the effect that the Fed’s decision had on the bond markets. Since the Fed’s announcement on July 31, the […]
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The sunshine state’s population is soaring as more and more Americans are migrating south. It may be the beautiful weather and landscape, the favorable taxes, or the growing job market, but this appears to be a trend that is here to stay. According to the Demographic Estimating Conference, Florida’s population will surpass 22 million residents […]
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It’s no secret that real estate has been, is, and will continue to be a popular choice of investment. As individuals take a more holistic approach to their portfolio planning, real estate investments are receiving a bigger piece of the pie to add diversification and cash flow. That said, it still came as a surprise […]
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The senior housing industry is in the midst of a big disruption. Occupancy in assisted living hit a record low in the first quarter of 2018 – and continues to fall. There could be numerous reasons for this, including a bad flu season, but I think there’s something bigger going on. At a recent conference […]
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Central banks like the Federal Reserve battle inflation – the general rise in prices—by boosting interest rates. In a benign environment, the rate of inflation is low, but as the economy heats up, inflation increases and robs the local currency of some of its buying power. By lifting interest rates in small increments, the Fed moderates the economy by increasing the cost of capital, that is, how much interest you have to pay to finance a project with borrowed money. Some potential projects will not go forward because they can’t generate the required rate of return necessary for investment due to the higher cost of capital. After all, the more of the project’s revenues that must be spent on interest and higher costs leaves less to compensate investors for committing their money to the investment.
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The short answer is that stock market volatility increases demand for multifamily real estate investment, because real estate is much less volatile than stocks. For those who don’t want to invest all their money in the roller coaster stock market, real estate is, over the long run, a relatively tranquil alternative. Let’s dig deeper into the concept of volatility to explore the differences between the stock and real estate asset classes.
“The golden era [of stocks and bonds] has now ended,” says a McKinsey & Company report issued last year. The report suggests that returns on equities and fixed-income investments could see significant decreases – up to 400 or 500 basis points over the next twenty years. According to the report, this will affect everybody, from pension funds that will face larger funding gaps; asset managers who will see lower fees; and insurers whose earnings depend on investment income. And on a personal level, the new generation of retirees will retire later and with less income. Investors are seeking alternatives.
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Once upon a time, not so long ago, the American dream was to own a modest home in which to raise a family. This was more than a dream; it was an assumption, an expectation. Even the lowest-income workers aimed for and usually achieved, this dream. Not anymore. There is a tremendous last of affordable housing. Millions of our working families cannot even afford a rental apartment.
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Historically, multifamily investment has been about long-term, cash-flow returns. However, in recent years, as the industry caught the eye of private equity, the emphasis turned to a property’s IRR or Internal Rate of Return.
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Wait…There’s a better solution. Interest rates are plunging around the world; some are even closing below zero. And with negative and minimal inflation, the real interest rates are also pushing 0%. A June 9th Financial Times article on negative rates stated “Lenders in Europe and Japan are rebelling against their central banks’ negative interest rate policies with […]
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The West Coast is different. It’s entrepreneurial; it’s leading edge, and it’s full of big ideas. So I headed west to LA to pick the brains of the big guys – some of the smartest in the real estate investment industry. I visited three large real estate funds and two very large family offices. Here’s […]
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The Lloyd Jones Capital team had a great time networking with other investment firms and more importantly, investors from around the world, at Opal Group’s 2016 Real Estate Investors Summit. Our firm had a booth where we connected with investors and shared our strategies in regards to real estate investing, previous deals and the types […]
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Thank you, Harvard. Once again, Harvard’s Joint Center for Housing Studies has published a brilliant paper on the status of rental housing. This study supports what we have been saying for the past couple of years– but says it much better than I can. I thought I would share some of the findings relevant to the multifamily investment […]
In reviewing 2015, I am reminded of the issues that dominated multifamily investment discussion. Let’s start with the funds. Blackstone Group LP, the world’s biggest alternative-asset manager, has collected $15.8 billion for its global real estate fund. As of June, 2015, it was overseeing $93 billion in real estate assets. Goldman Sachs is oversubscribed for […]
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Last week’s stock market roller coaster ride serves as a good reminder of why it is so important to maintain a diversified investment portfolio. What impact did it have on investment real estate? Absolutely none. This is why income-producing multifamily real estate makes sense for a portion of your investment portfolio. Real estate does not fluctuate with […]
A recent Miami Herald article, written by Ricardo Mor, pointed out that there are 83.1 million Millennials and a whopping 30 percent of them live at home with their families. This is an incredible statistic, especially for investors considering investing in multifamily real estate. These 18-to-34-year-olds are historically our apartment dwellers, taking their first steps toward […]
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Lloyd Jones Capital recently bid on a small $6 million apartment community in a tertiary market. The property was bank-owned and obviously distressed. It needed extensive renovation. Furthermore, its occupancy had been a very low 85% over the past twelve months, despite having third-party, professional management in place. This was, indeed a troubled property. Guess […]
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If you are reading this blog, you are most likely interested in accruing wealth through savvy investment strategies. There are lots of places to put your money; investing is not really the issue. The issue is: what investment options are best for preserving your wealth? One answer is real estate. It is said that 90% of […]
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