Preston is the CEO and founder of Walls Property Group, he currently manages a portfolio of 70 buildings valued over $300MM. Preston shares his experience through starting in residential to now development deals. Joe asks Preston to explain some different challenges he has faced in the development world so you can be better prepared if you choose to venture on this path.
On the show today we have… Managing Multifamily During COVID-19 with Preston Walls!
This is an incredibly insightful show that gets into the nitty gritty of how Preston Walls has built his multifamily portfolio. Including how he uses value adds to get the numbers in Seattle to bring great returns.
Why his strategy is to hold for a long period? In growth markets, CAP rates tend to be low. 67-68% Loan to Value is the upper end for refinancing. What’s the most amount that you can pull out from a property in one single refinance?
We would like to extend a warm welcome to Preston Walls, CEO of Walls Property Group, who is our guest for today’s show. Preston grew up in Seattle and learned the real estate game from his father who was a property developer. Once his dad retired in 2008, Preston went at it alone and now his portfolio consists of 70 multifamily buildings valued at over 300 million dollars! Preston talks to us today about why he loves self-managing multifamily properties in the Seattle market. He also shares some of his strategies for finding and adding value to deals in his town.
In this episode, we join Preston Walls to discuss opportunities in multi-family & land development post COVID-19.
We sit down with Preston & Hector and discuss topics ranging across life, business, building ownership, and property management. Preston’s unique insights as an Investor & Business Owner, along with Hector’s experience managing a maintenance team with over 80 buildings, make this a truly fascinating conversation.