All Forum Posts by: Charles Seaman

Reach out to Clinton Orr.  You can let him know that I referred you.  His contact information is below for your reference.

@Skyler Mckinney I'm glad that you found it helpful.  It will definitely apply to syndication, unless you're only looking at small multifamily properties that are less than four (4) units (these deals are typically not ideal candidates for syndication because of the many costs associated with syndication).

@Scott Morongell we used #1 on our last deal and will likely continue to offer that same structure on future deals.  We offered a 60/40 split with a 7% preferred return on our last deal, but we will definitely consider using a 70/30 split on future deals because that split seems to be much more common in the market nowadays.

@Zachary Feldman I'm an approved broker with Visio Lending.  They specialize in lending to investors that own 1-4 unit properties.  I can definitely help you.  Message me if you want to discuss it further.

P.S.  I'm from Brooklyn originally and know where Oneonta is on a map, but have never been there.  Is there a particular reason why the lenders that you normally use won't lend there or is it simply because it's outside of their geographic region?

@John Underwood I have a lot to learn about this niche.  What exactly are the differences between Airbnb and Vrbo?  Do they attract different types of consumers?

@Yannik Cudjoe-Virgil thanks for sharing your story.  The asset management practices that you shared are all very grounded and would be beneficial to any operator.

Unfortunately, common sense isn't so common nowadays.  I'm a multifamily syndicator and am more familiar with the commercial side of real estate, but I do see a lot of short-term potential with the short-term rental business, so it's something that I'm educating myself on now.

@Brandon Chidester thanks for your feedback.

@John Underwood are you an experienced Airbnb host?

@Brandon Chidester I'm an Airbnb novice, from the standpoint of both a consumer and a proprietor.  It's definitely something that I'm interested in learning more about.  Thus far, I've only stayed in two (2) Airbnb locations as a consumer.  The more recent one had similar signs and amenities.  Is it not common for most Airbnb hosts to provide similar signs and amenities?

@Skyler Mckinney I'm glad to hear that you're looking to make the jump to commercial and that you have big goals.  Not only is it recommended to have somebody that's already done those types of deals on your team, but it'll actually be required, unless your net worth is equal to or greater than the amount of the loan that you'll be applying for.  I'm glad to give you some guidance and answer any questions that you might have.  You can either reply to this thread with any questions that you have or message me directly.

@Ley Nezifort you're welcome.  I'm originally from Brooklyn and just relocated to Charlotte at the beginning of June, so I can respect your ambition.  If you have any other questions, feel free to message me and I'm glad to help you in any way that I can.