[Calc Review] Help me analyze this deal

[Nathan Hui]

Hello BP people, 

I want to revisit an old deal I have previously posted.  

My numbers on repairs/rehab are still rough estimates at this moment, it is just an estimate based on what I have seen so far.

*These numbers represent the way this quad will function after we house hack for a year and are 100% tenant occupied.

**I plan to renovate each unit as each "adopted" tenant's lease ends. 

Thanks in advance for the help

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[Brandon Roof]

@Nathan Hui I'm really impressed by the amount of due diligence you have performed and your research appears to be quite sound and not particularly speculative. The similarity in comps you have nearby would give me much more confidence in proceeding.

The key at this point seems to be, and I think you're slightly struggling with the same thing, is how to add as much value as possible in order to increase rent and entice tenants.

Continue to drill down as to what tenants will appreciate most. Is it high end fixtures and appliances or community features such as the playground or sports courts?

It may not hurt to survey tenants of the complex you are looking at or even those at the opposing complexes.

From here, it appears as if you have one of two directions to go, align yourself as much as possible with the surrounding properties but by offering similar amenities at a more competitive price point, or completely differentiate yourself by offering something they don't that clientele will value more. Would people go crazy for free wifi or above and beyond pet friendliness by building a small dog park.

Both of the above examples could be terrible ideas, but hopefully it gets you thinking about all the options you have in front of you when determining the best way to proceed.

Great job and I'm looking forward top see how things progress!