Buying Through Multifamily Distress with Dan Brisse

Buying during a difficult market is one thing. Setting up a deal so it can survive what comes next is another.

Dan Brisse says the current multifamily market has created something investors have not seen in a long time: owners under serious pressure and properties available at much lower cost bases.

Granite Towers is mainly focused on value add apartments around Dallas and Nashville. Dan explains why his team wants to be a distressed buyer rather than a distressed seller, and how lessons from the last several years have changed the way they look at leverage, debt, reserves, and hold periods.

Dan also shares what happened when three economists at a recent conference gave three completely different predictions for interest rates. His conclusion was simple. You have to structure a deal so you can win no matter which direction rates move.

Key topics and takeaways

• Why distressed multifamily sellers are creating buying opportunities
• How Granite Towers moved out of bridge debt and reduced leverage
• Why taking care of the property and residents comes before distributions
• How Dan communicates with investors on the first day of every month
• Why Dan does not want a deal to depend on lower interest rates
• The type of apartment properties Granite Towers knows best
• Why Dan prefers giving real estate 5, 7, or 10 years to season

Guest information

Dan Brisse is a former professional snowboarder and cofounder of Granite Towers. Dave notes that Granite Towers has more than 3,000 apartment units in its portfolio, along with triple net lease properties.

Granite Towers is mainly looking at multifamily opportunities around Dallas and Nashville, with select investments in Minnesota.

Website:

granitetowersequitygroup.com

Call to action

To connect with Dan and Granite Towers, visit granitetowersequitygroup.com and use the Contact Us page. Dan says people can leave their email and phone number to arrange a call or join the company database to see future deals.