401: Cash Flow Is King

In the past few months, great deals have materialized across asset classes as the buyer pool has shrunk and sources of capital have dried up. As a result, more deals are generating attractive in-place cash flow.  Cash-on-cash upon close is more important than IRR and Equity Multiple because cash flow is immediate and reduces risk.  IRR and Equity Multiple are speculative and don’t always materialize.  Irwin Boris, Head of Investments at Heritage Capital Group, has decades of experience across most asset classes. Heritage stopped acquiring multifamily five years ago and has been acquiring warehouses and flex industrial and generating in-place cash-on-cash of 9% or higher.