Free Property Management in Minneapolis Minnesota
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
Free Property Management in Minneapolis Minnesota
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Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
1ySo your telling us you got some magic wand where you get 200%+ market rents? How?
Or are you just making shameless self-promotions again begging for clueless lemmings to come running?
20 Replies
- 1yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
Section 8 Launch52 Reviews- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes1y
So your telling us you got some magic wand where you get 200%+ market rents? How?
Or are you just making shameless self-promotions again begging for clueless lemmings to come running?
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
It is the Classifieds section so I am all about people coming on and promoting themselves. But the way Robby did it was pretty lame. "Not to diminish what you're selling, but let me diminish it by talking about something completely irrelevant" lol. Typical Columbus Cartel behavior lol.
- 1yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
what are you talking about? I'm saying we can create a floorplan that rents for $1200 a month downtown. those are 400-500 square foot units and construction with land is low. meets 1% rule on the basis. I have no idea who you are mr. hamling but I'm sorry I called this a bad investment but it is. it's not even 1% rule do you disagree?
Section 8 Launch52 Reviews - 1yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
it's not you it's rent to retirement to call this a deal with seller credits to get management free it's builder credits like anything else. talk to some of the more recent single family home investors in rent to retirement they haven't been happy even in fast appreciating markets that are double Minneapolis appreciation rates in florida. you can't transact new builds on single family homes and make a profit unless they rent for more than $1.70 per square foot and I talked to the larger build to rent developer in florida who has more than 1000 deliveries this year and they can only get numbers to work in florida at 1500 square feet and in the Carolinas. single family new build rentals aren't the strategy my friend. you have to turn it into multiple units at a minimum 2 but 3 is better. if you think this is a great deal and can genuinely support the numbers, either one of you I'd love to see how someone outside of appreciation can expect a cash on cash return greater than a mortgage interest rate at 6 or 7% on a DSCR. neither of you guys lives and breathes new construction. I have no idea what this realtor does from Minneapolis I think he just got his feelings hurt and James you know what I'm talking about. rent to retirement is moving inventory to passive out of state investors as an intermediary but we are trying to transition that to more multi dwelling build to rent products not single family.
Section 8 Launch52 Reviews - Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
Paragraphs bro....Use paragraphs. I think how you market yourself needs a lot of improvement. You say a lot of words, but half the time it's just a jumbled word salad. If you spoke more clearly and stopped trying to insert a bunch of big words, you'd likely make more sales and you wouldn't need to come into random threads and try to hijack them with an unrelated product offering.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
Also meme's. You need more meme's bro.
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes1y
That's NOT what you said.
You said you can rent a 1/1 at 400 square feet a unit in Columbus Ohio for $2400 a month.
It's right here for posterity. Anyone/Everyone can click the pretty little drop down arrows and read your post making such insane BS claims.
Which now you just halved. Did rents drop 50% since you posted that?
My issue is with your wildly false/BS claim which was clearly written as click-bait to self-promote, not to further the discussion in/of this post.
Do I think this Cambridge investment offering is "great"? No, but as a "on a silver platter" turn-key offering it IS fair.
And this Cambridge turn-key investment offering is REAL. It's not some fantasy half-cooked click-bait BS of "1/1 400sqft renting for 1 gagiliion dollars!" manure.
I have exactly 0-beef with James Wise or Zack Lemaster. These 2 are on my top-5 list of people in this industry I MOST respect. Because they are HONEST in what they do; they say what they mean and mean what they say. ie INTEGRITY.
What you did Rob is what I see as void of any integrity. Ain't nobody got time for that!
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
James Hamling is a True American Hero
- 1yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
I said we could build and design a stacked 2 family each unit is 400 square feet and rent it for $1200. Section 8 vouchers pay almost $1100 in our market and you posted some screenshot from who knows where that justifies what I'm saying. Very easy in our market and probably in this market too. I didn't say one I said 2 units. And the economics would be in their favor instead of investing in a low ROI single family home with a garage. Most apartments don't have garages.
I'm saying that the layout and price don't make this deal any good at all. I agree with both the guys you mention they are both very experienced but Zach runs a sales team and James runs hist turnkey stuff and a podcast. Neither of them creates supply of new construction and I can say the same of you. We will build and deliver probably a net 25 housing units this year and entitle a few hundred more in the cities I work in.
I engineer houses and have designed 5 Floorplans already in a midwest market that would be considered in the same peer group as Minneapolis and I have freedom of speech to say I think it's a bad deal. I know the cost of construction and new build numbers in our market. I'm a licensed general contractor. We put 200 videos out a month on new construction in Columbus and deal walkthroughs. I'm not sure where you got I'm dishonest or no integrity or shameless plugging myself. But I talk to guys who buy garbage deals from these organizations on a daily basis and this isn't a good deal. I'd love to see how It can be defended but it's just not a good one. I don't have beef with either of these guys. Zack we push new builds through but we don't do single family anymore because the returns are really bad and I can't put an investor into a single family home. I have to believe in the economics of the properties I'm selling. This doesn't have an exit path, it doesn't meet minimum return requirements, and it has builder concessions that help lower operating expenses that will increase after year 1. it's in a way deceiving to get the deal to "pencil". I see people manipulate financial statements on a daily basis and lower operating expenses like this to get the deal to work.
James lumping me in with real estate agents is fine he can say whatever he wants but we are build to rent developer and of course it's my job to challenge some of the garbage that is being sold on the market. I'll ask again, can you legitimately defend the deal on a standalone basis and explain how someone without counting on appreciation can make this deal work? What happens in month 13 when the property management fee goes up to a real rate of 8-10% and their operating expenses go up? They probably already weren't making money now they are losing money.
Section 8 Launch52 Reviews - Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes1y
Rob, save yourself some breath and just google me.
If we want to measure eggplants on who contributed to most net unit additions.... Ok, I designed a Townhome compilation last year that just went into production on 3 sites consisting of 748 total units.
Yeah, I'm the guy a developer/builder of that scale calls on to given them analysis and advice on things. It was a bit out of the box to let me jump into the drafting and design again but as that words says "again".
I am very well versed and experienced in development. I get what your doing. Your a spec builder in buid-4-rent.
Do you really want to poke me to get my HONEST opinion on what your slinging? I assure, you won't like it. A pound of sugar won't help that medicine go down.
Zach HAS done new builds for years. Or should I say JV's and work with new builds. Zach does a lot more than just "runs a sales team". It's like your saying Andy Reid "just calls out plays" lol.
If your thinking Columbus Sec8 Landlording is such a great simple e-z pee-zee path to $, I suggest you check this great REAL WORLD resource out there called Holton Wise TV. It's awesome, they pull back the curtain and show the REAL-DEAL stuff of it all. Check em out. https://www.youtube.com/@holtonwisetv/featured
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
lol "comparing eggplants" took me a min, but that's funny right there.
Speaking of food, Robbie is trying to make an Apples to Apples comparison when we aren't even dealing with Apples to Oranges. This is more like Apples to Eggplants honestly.
Terrible sales pitch Robbie. Go sign up for marketing help at HoltonWise.com and i'll show you how a proper sales and marketing campaign is done. Because what you're doing right here, this ain't it playa. This ain't it.
- 1yRemington LymanBusiness MemberReal Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
My magic wand allows me to get 300%+ market rents
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
The Columbus overlord himself has entered the chat.
Remi as the Columbus Overlord you gotta sit Robbie down and lay down the law. He's actin a fool in this thread.
- 1yRemington LymanBusiness MemberReal Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
I think @Robert Ellis is trying to do new developments. I am part of the ULI Columbus chapter which focuses on Urban development, and it's crazy what rents they are asking for. I'm not sure they are actually getting those prices, though. I've heard there is a lot of vacancy in these newly built apartments. It'll be interesting to see if this is a sustainable model when the tax incentives go away.
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes1y
I am sure it will all work out A-OK. When has putting mass density of sec8 persons into MFH ever gone wrong........
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
You know what I wanna know James....Why didn't Rob tell us his real name was Kyle Stroker. Kyle Stroker seems way friggin cooler. I bet Kyle Stroker doesn't have to hijack threads. Look at the swag on this guy.
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Rob / Kyle - Why in the world are you pulling a Bob Prisco / Stevens when your alter ego is so much cooler? Just stick with Kyle Stroker bro.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
lol, @James Hamling you gotta take back what you said about those Eggplants bro. A few google searches and I'd say it's a safe bet that Rob / Kyle here has got you beat lol.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1y
@Robert Ellis aka Kyle Stroker.....We gotta talk about this bro. What's the deal here? Having 2 identities while coming onto BP and soliciting investors for large amounts of money is a pretty big deal.
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