The 3 Virtues of Winning Portfolio Deals with Clayton Wyatt

Single-family rentals (SFR) are having a moment, with significant momentum in rent levels and values. Build to rent is the gateway drug to SFR, with new groups entering the sector left and right. Aggressive assumptions and favorable deal terms are necessary to execute a portfolio transaction. Considering this, how do investors get in on the action in such a competitive market? Roofstock's VP of Business Development, Clayton Wyatt has answers for you in this episode. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The remote real estate investor podcast is for informational purposes only and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everyone, welcome to another episode of remote real estate investor. I'm Michael Albaum, and today I'm joined by Roofstock, VP of Business Development, Clayton Wyatt. And Clayton is going to be talking to us today about some of the things investors need to be aware of, and things they can do to win portfolio deals. Alright, let's get into it.   Clayton Wyatt, thank you so much for taking the time to join us today. Really appreciate it.   Clayton: Yeah, happy to be here.   Michael: And so I would love if you could give our listeners a little bit of background on who you are as an individual and what your role is at Roofstock specifically.   Clayton: Yeah, who am I as an individual, I don't know if I want to bore the audience. But I mean, I'll give a little bit of background, you know, came from real estate, private equity and investment banking, you know, background, you know, Rich and I both spent a lot of time at Jeffrey's covering the single family rental space, including, you know, waypoint which obviously Gary was the the CEO of and, you know, all the way, way back to when waypoint was ramping up to go public. And we ended up merging them into, you know, a spinoff from Starwood into a public reit, and, you know, covered them as a public company. So when, you know, rich, and Gary and Gregor had co founded Roofstock, I stayed behind and had done some, some read coverage, mostly in the residential space, but also started a cover, you know, some prop tech companies, as we started to see more of these technology companies getting into the real estate space.   And so, you know, groups that were like an Opendoor, or an Offerpad, or, you know, Point or Unison, or some of these mortgage companies really starting to see a lot, a lot more of those, those groups come into the space, because residential is a massive asset class. Right. And so similar to, you know, Roofstock there was there was a big Tam available for for groups to cover. So it's been a little bit of time there. And then, you know, finally got an opportunity to come over to Roofstock, about three years ago, and primarily spending, you know, my time in the in the business development team, which, you know, obviously, we handle the portfolio transactions, but also a lot of the, the JVs and interesting relationships that we've got going on there, including, you know, the recent announcement we had with JLL, that made an investment into rootstock, and then obviously, we set up a joint venture with them and with the acquisition of stessa. So I would say, majority of time spent there, but also, you know, at a at a corporate level, you know, any any capital markets activities, so rather that's, you know, US structuring, you know, debt or equity, but also on the investment services side, where we have clients coming in that are looking for advice on putting credit facilities in place or debt products, spending a little time there with with the broader team.   Michael: Right on.   Clayton: Does that work for an over