In the spirit of Thanksgiving, this newsletter is a big Thank You to everyone who's played a crucial role in Ridgeview Property Group’s success. Reflecting on the year, we appreciate the trustworthy team and collective expertise that make our deals successful. Thank you for being part of our journey, and here's to more achievements ahead!
Our Investors
We are thankful to our new and returning investors for placing their trust in us with their valuable investments. In the last 2 years alone, we have raised ~$3M of investor capital across multiple projects. We look forward to sharing in much success in the future. To sign up for our investor portal click here.
Property Managers
We are thankful for our property management teams. They work hard week after week to fill vacant units, coordinate move-ins, renovate units, handle emergencies, and ensure the properties we own are enjoyable places to live.
The Ridgeview Report & It’s Readers
We are thankful for this newsletter that provides us with an outlet to share our experiences in multifamily real estate. We are thankful for the readers who have followed along since our original article 6 months ago as well as the new subscribers we get each week. We are especially grateful for the readers who provide productive feedback, encourage others to follow along, and those who share our newsletter on their social platforms. THANK YOU ALL!
Our Residents
We are thankful for all the residents who enjoy calling our properties home and treat them like their own.
The Resilience of the Multifamily Asset Class
Multifamily properties have demonstrated remarkable resilience throughout and beyond the challenges of COVID-19, maintaining stable operations amidst economic uncertainty. Meanwhile, the future of many office and retail assets is in question as remote work and e-commerce trends continue to reshape the real estate landscape.
Cost Segregation Providers
We are thankful for the cost segregation providers we get to work with. We have completed cost segregation studies on all our properties. These studies create a depreciation schedule so that we can front-load tax losses. This saves us and our investors a vast amount of tax dollars each year.
Sellers
We are thankful for the sellers that we have purchased property from. Without their willingness to sell it would be impossible for us to do our jobs. Each seller we've worked with has proven to be exceptionally upright and cooperative, making the process of working together seamless and enjoyable.
Social Media
We are thankful for social media and the impactful connections we have made. We are most active on Twitter but also have made many powerful connections through LinkedIn.
Attorneys
We are thankful that we have been able to rely on the same smart and efficient real estate attorneys. They save us a lot of trouble and headaches by overseeing our transactions and protecting us from the unexpected.
Lenders
We are thankful for the lenders who give us favorable terms and share our vision for the properties we purchase. Establishing mutual trust with a tight-knit group of lenders provides us a piece of mind when trying to purchase a property and ensures us favorable loan terms.
Our CPA & Bookkeeper
We are thankful we have a CPA as well as a bookkeeper that we can trust. We have been working with our CPA for many years now and they do a great job completing our taxes. Our bookkeeper is the newest addition to our team and one we should have added a long time ago. She is very organized and saves us hours each week.
Contractors
We are thankful for the contractors we work with. We look forward to working with them on many more projects in the future.
Market News
Freddie Mac Suspends Transactions with Meridian Capital
According to an article by Commercial Observer, the recent developments at Freddie Mac have raised eyebrows in the real estate industry, as the government-sponsored enterprise has temporarily halted deal-making with Meridian Capital. This unprecedented move comes alongside the initiation of an internal investigation. The specifics of the investigation remain undisclosed, leaving industry observers in suspense. The pause in deal activities reflects the seriousness of the situation, and stakeholders are eagerly awaiting further details on the nature and implications of the investigation. The outcome of this inquiry could potentially have a massive ripple effect in the real estate financing landscape, making it a topic of interest for industry professionals and investors.
Source: Commercial Observer. Freddie Mac Halts Dealmaking for Meridian Capital, Launches Probe. https://commercialobserver.com/2023/11/freddie-mac-halts-dealmaking-for-meridian-capital-launches-probe/
Tips & Tricks
Tips:
Build a team of people that you can trust – All the people mentioned above have contributed in some way to each deal we own being successful. Without each person being an expert in their role, life would be much more difficult. For anyone looking for any of these service providers, we are always happy to refer ours over!