WS1903 Successfully Converting Office Space to Multifamily | Highlights Kenny Wolfe

In this  highlight episode, we feature Kenny Wolfe, an experienced real estate investor, back to the show. Kenny provides an update on his business, which now has $715 million in assets under management. He discusses his ventures in multifamily, triple net funds, and office conversions. Kenny explains that while multifamily deals are currently scarce, the underlying metrics such as rents and occupancies remain strong. However, the challenge lies in managing debt and navigating interest rate fluctuations. 

He advises investors to focus on surviving until 2025 when interest rates are expected to decrease. Kenny also shares his experiences with triple net funds, highlighting the stability and high credit tenants involved. He emphasizes the importance of selecting the right tenants and managing property taxes and insurance. 

The conversation then shifts to office conversions, with Kenny explaining the process of transforming vacant office buildings into multifamily spaces. He discusses the challenges of plumbing and maximizing space within the existing floor plan. Kenny also mentions the benefits of historic office conversions, including grant money from the federal and state governments. He concludes by expressing his belief that the office conversion trend will continue as businesses assess their physical occupancy needs.

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About Kenny Wolfe:

Kenny Wolfe is the the founder and CEO of Wolfe Investments, is not only an accomplished author with his book titled “Investing in the Dream: How to Acquire Multifamily Real Estate and Attain Total Financial Freedom,” but he is also a seasoned real estate investor. In 2010, he took the leap into the industry by investing in his first multifamily property, which led him to quit his day job and start his own company. With a background in accounting and finance, Keeney has been involved in over $567 million worth of commercial real estate transactions nationwide, serving as the principal in 5,575 units and accumulating a total of 7,397 units throughout his career.

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