In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...
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In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...
What Sponsors Don’t Want You to Know About Underwriting
The LSCRE Podcast
32 minutes
2 months ago
What Sponsors Don’t Want You to Know About Underwriting
In this episode, Craig McGrouther and I dive deep into the nuances of "above the line" and "below the line" expenses in multifamily underwriting. We explain how the "line" is Net Operating Income (NOI), with operating expenses like payroll and insurance sitting above, while CapEx and debt service fall below. I reveal the art behind these classifications and how a unit renovation could be coded as either R&M (above) or CapEx (below) depending on interpretation, affecting the property's app...
The LSCRE Podcast
In this episode of the LSCRE Podcast, Craig McGrouther sits down with Ray Hightower to discuss why entrepreneurs are betting on Arizona. They explore the factors driving Arizona’s growth, from population inflows and business migration to a thriving innovation ecosystem that continues to attract investors and operators. Ray shares his perspective on what makes Arizona a standout market, highlighting the opportunities emerging across technology, real estate, and entrepreneurship. The conversa...
