All Forum Posts by: Peter Albanese

Can anyone recommend syndicators who would raise money for my multifamily deal? I would handle the debt financing and the syndicator would raise the equity portion of the deal. And of course, I would invest equity as well. Thanks in advance.

@Joel Owens Please explain your definition of "equity upside split of 50/50". Does this mean the deal sponsor would be entitled to 50% of the equity build up over time or 50% of the profit when the asset is disposed?

Find an attorney that specializes in evictions, it will be less expensive, more efficient and less hassle on the brain. In my city, about $400 flat fee gets it done!!

In some States it's not even legal to do long term residential leases over 12 or 24 months, so that's one reason. I have often done leases for 18 months or even 10 months so the lease resets in the summer time when I have the most potentials tenants to choose from and I'm not trying to lease a property in November for example.

Seems pretty standard except for the "Activation fee" but maybe they have online payment processing for your tenants and they are passing down the fees to the property owner?

IMHO I think a tenant should be able to hang a picture on a wall without worrying about a nail going through a wall. I would replace the tile so its done correctly (don't leave it up to the tenant) and move on. Then tell tenant, you shouldn't hang anything on this wall...sorry. It's better to fix the issue than start getting water problems in bathroom in the future. Plus its a cheap fix and more expensive to replace the tenant if they are not happy.

I'm looking at a condo @140k to purchase and rent. I realize that if I put this on a 15yr note my return will be mostly principle down payment but still a 20% return on investment. Although I can purchase a 4 unit for nearly the same price I believe the tenant will be less likely to tear up the place and pay rent. Does anyone have opinion/advice on their experience in owning a condo versus a multi-unit building?