All Forum Posts by: Anthony Chara

Hi @Sean Robertson, we did not find a place in St. Thomas. Most of what we looked at were dumps and the sellers were asking A Class property prices. Possibly a good thing too as later that year the hurricane came thru and wiped out thousands of properties. There are still parts of the island that don't have power. It will be decades before it's back to its former self. However, I do recommend that people travel to St. Thomas for vacations or on cruise ships. The economy in those Caribbean areas hit by the hurricane will recover much faster if we keep going down and spending money. Tourism is probably 80% or more of their economies.

Hey everyone, at this month's luncheon we have a very creative topic, Swapping. No, not that kind of swapping!!! lol

Mr. Blake Allen with Allen Realty and an Equity Marketing Specialist will be presenting, "Introduction to Equity Marketing and Exchanging for Investors". Some of the things Blake will cover include:

--Learn about Exchanging: The Best Kept Secret in Real Estate

--Be exposed to the dynamic Exchange Marketplace, known to a small percentage of Real Estate Professionals, where properties are traded directly based on benefits and value, not price.

--Begin to understand Equity Marketing: How to exchange that part of the property that you actually own to increase your wealth.

--Be introduced to the idea of Exchange Formulas such as Creation of Wealth and 1031 Paper, to solve problems and create opportunity with Real Estate.

--Learn about the difference between Making Money on Real Estate and Investing for Profit in Real Estate.

--Learn all of this from a Broker with decades of experience trading Real Estate for profit.

One of my students will also be in attendance to talk about how she 'swapped' a Seller Carry Back Note on an office building for an RV Park.

This will be one very creative luncheon!!! Join us. RSVP ASAP as seats are limited.

Technically, there is no charge to attend this event, but we do request that you purchase lunch or at the very least a drink so we can continue to get our meeting space for free. Also, seats are limited and we don't want to have to turn people away, so please click this link, join our Meetup group and then RSVP to save yourself a seat: Click here to RSVP for the Luncheon.

Hey everyone, at this month's luncheon we have a very creative topic, Swapping. No, not that kind of swapping!!! lol

Mr. Blake Allen with Allen Realty and an Equity Marketing Specialist will be presenting, "Introduction to Equity Marketing and Exchanging for Investors". Some of the things Blake will cover include:

--Learn about Exchanging: The Best Kept Secret in Real Estate

--Be exposed to the dynamic Exchange Marketplace, known to a small percentage of Real Estate Professionals, where properties are traded directly based on benefits and value, not price.

--Begin to understand Equity Marketing: How to exchange that part of the property that you actually own to increase your wealth.

--Be introduced to the idea of Exchange Formulas such as Creation of Wealth and 1031 Paper, to solve problems and create opportunity with Real Estate.

--Learn about the difference between Making Money on Real Estate and Investing for Profit in Real Estate.

--Learn all of this from a Broker with decades of experience trading Real Estate for profit.

One of my students will also be in attendance to talk about how she 'swapped' a Seller Carry Back Note on an office building for an RV Park.

This will be one very creative luncheon!!! Join us. RSVP ASAP as seats are limited.

Technically, there is no charge to attend this event, but we do request that you purchase lunch or at the very least a drink so we can continue to get our meeting space for free. Also, seats are limited and we don't want to have to turn people away, so please click this link, join our Meetup group and then RSVP to save yourself a seat: Click here to RSVP for the Luncheon.

Hi @Erica Hatfield, are you familiar with Chicago Creative Investors Association (CCIA)? I believe they have a multi-family/commercial subgroup. You can find out more about them at www.ccia-info.com. Jane Garvey runs the club. I believe she has over 40 years experience in the area.

Hi @Syed Hussain, I suggest you reach out to Jane Garvey who runs Chicago Creative Investors Association (CCIA). She has lots of contacts and I think she's been doing RE Investing in Chicago for over 40 Years.  ccia-info.com

We meet monthly and rotate our meetings between north and south metro Denver. This month's meeting will be near 104th and I-25. 

Come network with like-minded individuals. Share ideas, find partners, build relationships.

This month's luncheon, I'll be showing you how to use my Quick Analysis Software. But wait, there's more!!! For those of you that RSVP and attend the event, I'll give you a free copy of my QA Software for you to use to analyze your own deals! Bring your own deals and numbers to the luncheon and I'll analyze as many as I can during the event. If time permits, I'll stick around longer as well just in case we run out of time to review your numbers. Bring your laptop so you can download the software and follow along.

You need to click this link to RSVP as seating is limited. Once you RSVP via our MeetUp page, you'll get the exact location. 

There is no cost to attend, but we do ask that you buy yourself lunch so we can continue to get our meeting space for free.

Here is the link to RSVP. Everyone that wants to attend must RSVP so we know when we are full. If you show up without RSVPing, we might have to turn you away.

Luncheon RSVP Link

Bring your business cards. The first hour is networking and everyone will get a chance to introduce yourself to all in attendance. The second hour we have an educational session. This month it just happens to be me!!!

RSVP ASAP so you can save your seat for our July 16th Luncheon.

Join me for my monthly Apartment Investors Luncheon to learn and network with other like-minded people. You must RSVP in order to save yourself a seat as seating is limited. Join up now via MeetUp. 

This month's topic will be on Deal Analysis using my Quick Analysis Spreadsheet that I'll be giving away free to all in attendance. 

Lastly, even though the MeetUp is technically free, we do ask that you purchase lunch for yourself so we can continue to get the space at the restaurant for no charge. Thanks!!

Click the link, join our group and then RSVP for the luncheon. Once you do, MeetUp will show you the exact location.

(Click here) Monthly Apartment Investors Luncheon MeetUp Link

Hi @Taylor Burns, I have a meetup on the 3rd Tuesday of every month in Denver (usually!). Sometimes I have to move it if I'm out of town. PM me for more details and I'll send you a link so you can join my group.

At today's Luncheon, you'll hear all about the cost effective way you can remotely video monitor your properties from Eric Schwitzer with VDO Intel. One of my students is now saving $3600 a month using this service. He used to pay $4000 a month for an armed security guard to randomly walk his property during the night. Now, someone else remotely watches motion activated video cameras from dusk 'til dawn and notifies authorities of any problems for only $400 a month. He no longer has any issues, because his bad residents know they are being watched and his good residents feel safer. 

Join us to find out more about this low cost security solution!!! Its a great way to keep an 'eye' on your properties.  

We start each Luncheon with networking so remember to bring your business cards. You'll have time at the start of the Luncheon when everyone introduces themselves to talk about any deals you're working on and potentially find partners to join you. You can also tell everyone about any service you provide (roofer, plumber, electrician, Realtor, lender, general contractor, investor, rehabber, etc)

Technically, there is no charge to come to this event, but we do request that you buy yourself lunch so we can continue to get the meeting space for free. Click the link to learn more about the event and to register. Luncheon Meetup Info

Hi @Tom Henderson, first off, what are you trying to charge back to the residents? Water, gas, electricity???

First thing you need to do is ask a RE Attorney in that area if RUBS is allowed and to what extent. Some municipalities don't allow you to do a RUBS and some won't let you collect the full amount. Why? I have no idea.

Second, if you can do a RUBS, the best thing is to have each unit individually metered so you can charge the residents for their exact usage.

Third, if you can't install individual meters, the next best thing is to charge them based on their unit's square footage divided by the total SF of the complex. This will give you a percentage that you setup in a spreadsheet so that all you have to do month in and month out is enter that month's utility bill amount and it will automatically calculate each residents monthly fee. Once you do that, you won't need an outside third party to send an invoice unless it's required by the government for some reason. If you wanted to get a little more creative, you could try adding a surcharge for the number of adults and kids in a unit. The reason for this is because some people might rent a 2 BR unit with only one or two occupants. Another might be 2 adults and a couple of kids. Even though the unit is the same SF, the one with more people will generally use more gas, electricity and water. Of course, if you can individually meter, you bypass this entire paragraph.

Each month, after you run the numbers, give each resident their individual statement along with a copy of the utility bill. Ask them to pay the amount by a certain date. Totally up to you. You can give them a few days or ask them to include the amount with their rent payment at the beginning of the following month.

Last thing. Keep in mind you'll need to modify your Lease Agreement prior to implementation. You can't just start charging them next week. You'll have to wait for their current lease to expire and you can ask them to pay the utilities with the new lease. 

We've done this a few times and most recently, we lowered the monthly rent some to offset the increase to a reasonable amount. We also created a spreadsheet to show the residents what they would have paid for utilities the year before based on the last 12 months usage. Doing this, along with the rental reduction, shows the residents that you aren't trying to gouge them, you're just trying to get them to pay their fair share. This will also increase your NOI by increasing your Other Income on the property even if you do lower the rental rate the first year. The letter also suggests ways they can help lower the overall bill by turning off the AC or Heater when they are at work, taking shorter showers, not letting the water run when they brush their teeth, notifying the PM if they have a leak in a faucet or the toilet, etc.

I highly recommend everyone do this as soon as possible. You'll be glad you did!!!