Travis Farese

Travis Farese
Travis is a classic serial entrepreneur with varied passions—he’s built businesses spanning the oil and gas industry and ventured into successful investments in biotech and enterprise technology. His interest in game-changing led him to launch a company that could provide a unique service—predictive analytics to execute sourcing campaigns for multifamily acquisitions—and in barely two years he’s built a major client portfolio. He lives with his wife and young children in beautiful Austin, Texas, and enjoys riding anything man-powered, including surfboards, kiteboards, hydrofoils, paddle boards and mountain bikes.
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Recent Posts

Welcome to 2022: Boom Times Ahead

Posted by Travis Farese on Jan 12, 2022
It’s part of the human spirit to say goodbye to the year just past with a sense of relief, and look to the year ahead with optimism. But moving into 2022, we have good reason to do just that.
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Topics: Market Insights

Year End, Year Ahead: What’s Happening in the Market, And at Home

Posted by Travis Farese on Dec 28, 2021
In retrospect, the only surprise about the resilience of the multifamily sector during the trials of the past two years is that anyone was surprised. In fact, the market is arguably hotter now than it’s ever been—we’ve had persistent growth in appreciation and pricing power for sellers, in part because interest rates reached a low plateau (they’ve gradually risen since). Buyers haven’t done too badly either—from what we’ve seen, actual performance after acquisition has routinely beaten the proforma, and even outperformed when compared to proforma assumptions prior to acquisition. Demand and interest have both grown over time, and barring normal fluctuations, there’s no sign of even a slowdown. And while the market booms, there’s good news at our home base too. At Offerd, we’ve said since long before the pandemic that the foundation for multifamily investments has been and will continue to be very strong for at least the next decade. That fuels our own operating philosophy and business growth. We occasionally offer updates on our initiatives to shape the market. For example, earlier this year we talked about sourcing nearly $700 million worth of off-market multifamily acquisition opportunities—all meticulously selected to meet specific target parameters—during just one week early in the summer. We focused on one investor that specializes in acquiring multifamily assets that are underperforming and off-market, and in less than 60 days identified the perfect target asset; the deal closed in another 90 days. More recently, we discussed our role in the capital stack during investment initiatives. We’re happy to say it’s been like that all year. Our core advantages are as strong as ever: Offerd tracks 90,000 ‘off-market’ assets around the country, with algorithms that encompass occupancy rates, demographic shifts, neighborhood incomes, population forecasts, educational levels and more, some 10,000 different categories in all. That’s how we find the best multifamily properties to match buyer and seller, and it all happens fast. We've built a machine—the perfect blend of best-in-class technology, data and people—and it works. Our partners come to us with their criteria, and we get deals done. And as we all know, deals lead to more deals. Now multiply that by two dozen partners and growing. . . More importantly, we’ve pioneered and advocated forcefully for Acquisitions as a Service. At a time when every investor seeks a competitive edge—finding the best assets, off-market or otherwise, in the shortest time and with the least effort—we believe that partnering with a firm specializing in this very practice is the best way to go. By the way, we’re the only firm doing it. We even have an ebook dedicated to the subject. Try it: We promise it’s a quick, fun and informative read. And if all that’s the present, the future looks to be even more dynamic. The Offerd partner roster has grown significantly in the past few months, and there are more coming in regularly. We’ve met our goal of $150 million in acquisitions, and we’re ready to scale beyond $500 million in the year ahead. We’re rolling out new technology that strengthens our value proposition, with more information that’s easier to access, and streamlined and enhanced our product/service offerings and pricing. We’ve boosted our team of talented professionals with more industry veterans and innovators, including a president of acquisitions and president of investments. We have more than 20 executives in-house, and we’re looking for more—come join us. In the big picture, getting away from the problems of the recent past doesn’t mean we won’t face challenges ahead. For example, rates won’t stay as low they are now forever—we’re going to see gradual increases at some point (remember, it’s all cyclical). However, don't expect negotiating power to automatically shift from the seller to the buyer. Supply is perpetually constrained, while demand keeps growing. If this is still a niche investment, that niche is growing rapidly as more sophisticated investors learn of the potential. We’re here for all of it. Our goal at Offerd is to be the singular standard for CRE acquisitions. We currently lead the market in technology, service, experience and expertise, even as the market keeps growing. We want to become the largest acquirer across all major CRE asset classes in the US by transaction volume. It won’t happen overnight, but it will happen.
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Topics: Inside Offerd

Offerd Across the Capital Stack

Posted by Travis Farese on Oct 27, 2021
By any definition, the CRE investment market is booming right now, and that’s a great thing. . .unless you’re in the hunt for new deals, because it’s a crowded marketplace. As we regularly highlight on our LinkedIn page with examples from around the country, the multifamily sector has proven its resilience during the horrors of the recent past. And as the economy inches back to pre-pandemic levels, investors have found rents not only holding steady but dramatically rising in many markets. People are moving between cities and suburbs seeking new residential options, and new developments with flexible living arrangements mushrooming.
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Cross Mountain Capital: A Multifamily Investor Finds Gold in the Mountain West

Posted by Travis Farese on Sep 8, 2021
In this blog series, we’re looking at how the process for Acquisitions-as-a-Service really works. We appreciate that change isn’t easy: many investors still conduct all acquisitions in-house, because that’s the way it’s always been done. That’s why we developed an ebook that offers a handy overview—it’s a quick and easy read—but it definitely helps to hear about real world examples too. What’s the thinking at investment entities that outsource the acquisitions process? How does the engagement begin, and how does the relationship move forward? What are the parameters involved, and how are metrics developed for success? To be clear, there’s isn’t only one way to do this. Tech-enabled acquisitions around the country to find the right asset for the right investor at the right time and the right price requires a dynamic approach, which means that just about every aspect is quite flexible. There are best practices, to be sure, but each investor has unique needs and objectives, and the goal is always to do whatever it takes to achieve those, and even exceed them. Here’s one example: Cross Mountain Capital, which specializes in acquiring multifamily assets that are mismanaged, underperforming, undervalued, and off-market. The company develops specific strategies to reposition these properties through operational efficiencies and renovations, as needed, to optimize the financial performance of each asset. This creates a passive income stream that builds long-term wealth, while also providing the ideal tax shelter. A marketing campaign led the company to Offerd in May 2020, and even in that inhospitable business environment, it took only three days to reach an agreement to partner on acquisitions. At the time, CMC had around $50 million in assets under management, mostly focused on smaller properties in the upper Northeast. It wanted to go bigger and broader, growing exponentially in the next 36 months with a portfolio that stretched into the Mountain West. Like most multifamily investors, CMC had always conducted acquisitions in-house. The company specifically brought in Offerd to supplement and enlarge the acquisitions team—it wanted to identify prime assets it could never find on its own. In such initiatives elsewhere, almost every search has to start from scratch; by partnering with Offerd, CMC gained access to a huge asset base that allowed it to refine its own search parameters. That’s because Offerd tracks 90,000 ‘off-market’ assets around the country, with algorithms that encompass occupancy rates, demographic shifts, neighborhood incomes, population forecasts, educational levels and more, some 10,000 different categories in all. That’s how we find the best multifamily properties to match buyer and seller, and it all happens fast. Our skilled and experienced acquisitions team—including VPs, a managing director and a president of acquisitions—leverages this deep well of data and technology, as well an eight-prong approach to prospecting, to source a targeted and qualified deal flow for our partners. In CMC’s case, the work has already paid off: Less than 60 days after launching the Offerd Proactive Sourcing Campaign, a target asset was not only identified and evaluated, it was under contract; the deal closed in another 90 days. For the record, Offerd has itself invested in that asset, and so far it’s performing even better than expected. CMC has renewed its agreement with Offerd, and is looking forward to achieving more acquisitions goals in the months and years ahead. We’ve got more real world examples coming—stay tuned.
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Why the Hell Would Anyone Sell Off-Market?

Posted by Travis Farese on May 26, 2021
Every year, approximately half of all multifamily property transactions nationwide are considered ‘off market.’ The term is broadly applied, but it typically means the property will undergo a transfer of ownership without an exclusive listing agreement in place or without a full marketing campaign.
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The Wheel Has Been Invented: Why Acquisitions As A Service Makes for Better Business in CRE

Posted by Travis Farese on Apr 15, 2021
Even in this era of technology-driven transformation, a new service that disrupts long-held operating practices is still viewed with skepticism.
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Acquisitions As A Service: A Short Primer

Posted by Travis Farese on Feb 24, 2021
Acquisitions-as-a-Service (AaaS) as a distinctive discipline within the real estate market has a long reach but a short history. In fact, it’s only been around for as long as Offerd has; this is the company that started it. That’s why, despite huge gains already accrued by the parties actively involved, this activity still feels like an outlier to some. It’s time to fix that.
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Multifamily Broker Benefits: Moving to the Principal Side

Posted by Travis Farese on Jan 20, 2021
The world of the multifamily real estate broker can be exhilarating and unforgiving. Even in thriving environments it’s a roller coaster; in a down market, it’s brutal. The year just past was undeniably down. Although the multifamily market has weathered the storm better than most comparable sectors, the challenges are real and ongoing. That’s particularly true for the brokerage community, which thrives on transaction volume. And in 2021, according to CBRE, that volume won’t come close to pre-Covid highs. However, the primary beneficiaries of brokers’ services—multifamily property sellers—continue to fare well. In other words, limited inventory ensures that competition for listings will continue to be fierce. Meanwhile, demand is stronger than ever, yet there’s a clear shortage of service providers on the buyside, in part because operators have traditionally kept the acquisition function in house. But now, with the emergence of Multifamily Acquisitions Services (MAS), there’s a new path for professionals to stretch their boundaries. Many brokers want to grow their base of activities—more listings, more services, more deals. This may be the time to make that happen. So, here’s an option: Consider joining a Multifamily Acquisitions Services provider. In fact, consider joining Offerd. It’s the perfect opportunity to build on core elements of the multifamily investment business. Go deep into investor priorities and mechanics, play a key role in closing deals, remain involved post-closing and drive value throughout. Become actual partners with the best owners in the business—investors growing multifamily portfolios throughout the country. You join a growing team of skilled professionals who blend market research, domain expertise, sophisticated data analysis, negotiating prowess and far-flung connections on a unique acquisitions platform. You tap into Offerd’s technology and 10,000-plus data points at the national, market, sub-market, and property levels. You cast a wide but targeted net for the best assets—the nation is your neighborhood—and have the credibility to convince investors to consider regions and properties rich with opportunity. The Offerd platform allows every Acquisitions Executive to manage multiple clients and deliver more with each. There’s less competition and more collaboration—a clear break from the constant chase for listings, and the feast-or-famine conditions so fundamental to the industry. You develop a consistent source of income through retainers and uncapped earning potential through a stream of fees for sourcing and closing deals—success fees greater than on the sell side, and potentially more rewarding.
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In and Out: Current Migration in Context with Value-Add Multifamily

Posted by Travis Farese on Nov 11, 2020
The stream of stories about people leaving population hubs such as big cities in California have a point... but they fall short of a more complicated reality.    
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Multifamily Investment: It’s All About the Fundamentals

Posted by Travis Farese on Nov 10, 2020
As the old adage holds, investment is about fundamentals—and there’s nothing more fundamental than home. That’s why the data we have about multifamily assets around the country represent a key indicator of economic recovery.
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