Tim Ryan is putting ‘Cuse honed investigative skills to work Appraising Self Storage Facilities

I'm excited to talk with Tim Ryan, MAI, Senior Vice President at Newmark, who is at the forefront of the data and valuation trends shaping the self-storage industry.

Tim shares his unique path from graduating from Syracuse University and working in the radio broadcasting industry (inspired by Marv Albert!) to becoming a commercial appraiser, eventually heading Newmark's National Self Storage Team for the Northeast in 2019. He even credits his dad, an MAI appraiser, for showing him the ropes.

We dive deep into the volatile "steroid era" of the COVID-era boom and the challenges of appraising during that time, where every investor wanted a sub-five cap rate. Tim emphasizes that his team's job is to deliver market value based on a foundation of solid, proprietary data gathered from appraising thousands of assets annually.

Timestamps:
01:46 Journey from Radio Broadcasting to Self-Storage Appraiser
06:19 Transitioning to Commercial Real Estate Appraisal
07:59 The Unique Jargon and Hybrid Nature of Self-Storage
08:50 Appraising During the COVID "Steroid Era"
10:49 Staying True to Valuation Amid Market Volatility
13:29 Dealing with the Steep Decline in Street Rates
15:08 The Importance of Proprietary Data and REIT Relationships
16:57 Underwriting Thousands of Assets Annually
20:00 Are We Seeing a Bloodbath? The Real State of Loans
21:44 The Massive Impact of Losing the ICAP Tax Benefit in NY
24:19 The Doubling of Insurance and Rising Property Taxes
25:56 The Pickup in the Transaction Market
28:06 Consolidation: Why Mom-and-Pops Are Highly Targeted

Connect with Thaddeus Campbell:
Email: [email protected]
Website: https://s3.partners/
LinkedIn:   / itsthadcampbell  

Connect with Tim Ryan:
Email: [email protected]
Website: https://www.nmrk.com

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