All Forum Posts by: Chris Salerno

Other than the bp podcasts, what are some other real estate focused podcasts that you listen to?  

With several Multifamily conferences and summits on the pipeline for 2020, many of those just to sell a product or get your money, do you know of any of recommended MF conference where you can actually gain some knowledge and learn? I am  new in the MF business and I am trying to expand my knowledge (already got some books, subscribed to some podcast, etc.). I understand networking is a must, but knowledge if first for me. Any comment will be appreciated. Interested in Texas area.

I am working with the owner of a 1 acre property to determine highest and best use. We think it is something like a gas station, car wash, or drive thru restaurant. The City (can't name the city but it is in Los Angeles County) wants multi-family. I thought I would tap the Bigger Pockets community for insight. Thanks to anyone that can and is willing to provide any wisdom on this topic. 

Assuming the following unit mix:

36 total units:

26 one bedrooms at 600 SF - 15,600 SF

10 two bedrooms at 800 SF - 8,000 SF

3 stories

Surface parking

No land value in your numbers.

Assume minimal amenities – no workout area or pool. Some modest open space with some BBQ grills. A very urban project.

I am looking for a range of total value for the hard costs, soft costs, fees (I know this is would be a wild guess) excluding land. A $500,000 range would be more than close enough (i.e. $3.5 to $4.0M)

My goal is to then put a rent factor to these units and see what the residual would be to the land. Any help you could provide would be appreciated.

@Chris Salerno

Here's a few I have read, and as @Joseph Firmin stated I'm sure many people have already read them.

1) Rich Dad, Poor Dad (of course)

2) Best Ever Apartment Syndication Book by Fairless

3) Raising Private Capital by Faircloth

4) Wheelbarrow Profits by Jake and Gino

5) The Perfect Investment by Paul Moore

6) The Richest Man in Babylon by George Clason

7) The Book on No Money Down by Brandon Turner

8) The Book on Rental Property Investing by Brandon Turner

9) Crushing it in Apartments by Brian Murray

My favorites so far are the top three...

Good luck @Chris Salerno! I'm sure it will be great. What is the main focus of the book? Something that has not been touched on a lot is a book about using social media to be successful in real estate...hmmmm if you don't take it, I might ;)

Hey @Chris Salerno- That's awesome. Good luck with the book! If you haven't already, I'd also consider adding supplemental material (videos, online courses, spreadsheets/templates, exercises, etc. ). I found that to be helpful with Michael Blank's book (I'm sure others do it as well but that's the only one I read). I recently read a statistic that we retain 10% of what we read vs 90% of what we do so adding an active learning component would be incredibly valuable as well. 

Love this! Yes, I am having multiple videos and also a underwriting spreadsheet available. 

@Chris Salerno You know what is rarely mentioned? Capital Calls. Yes, they should be avoided with the right business plan and execution of that plan. But things don't always go as planned. The big PE firms deal with this regularly, but the small sponsors don't mention it much. It would be helpful if you added that issue to your book!

Wow, different nuggets from different sources... From mindset to tactical steps, here are some of my favorites... The Honey Bee, ABC's of Real Estate Investing, Multifamily Millions, How to Legally Raise Private Money, Crushing it In Apartments and CRE, Am I Being Too Subtle, Best Ever Apartment Building Syndication Book.

Hope that helps @Chris Salerno, from your profile I'm sure you've read most if not all, but those are some of my recent and older favs! Best of luck in writing!