All Forum Posts by: Daniel Kaplan

@Miller McSwain So are you suggesting that the only option we have here is to have one/both of our parents co-sign the loan so that we would qualify? Also, would we then be able to refi out upon graduation so that our parents are no longer tied to our loan/property?

Hey BP fam! Thought I'd reach out in the forums for some guidance before I do an internet deep dive on this. My friend and I have a combined $40,000 and are looking to house hack a quadplex for 2 years before we graduate. However, as college students, we are not W-2 employees. What methods/loan programs do ya'll recommend so that we can qualify to purchase. I am fairly knowledgable on DSCR loans, but I don't know if that will be enough projected income to qualify. Please let me know your thoughts and ideas!!!!!!!!!! I really appreciate all of you so much!

Hey everyone!

What is the best way you guys have learned to value multifamily properties(4+ units) through the underwriting process?

@Grant Bynum That's honestly a good idea. My goal was to get it to work at a larger quantity. If not, going with one tenant is most definitely the next best route to go down. 

@Grant Bynum The only issue is that I'd be dealing with a W-2 employee instead of the actual landlord of the property. So they may just say no right away considering they essentially don't have too much say in what goes on.

@Michael Dumler What would the logistics be of me hypothetically moving forward with this without telling management? Just spit-balling ideas here.

@John Underwood They would have no incentive. Maybe I could offer them extra cash on top considering they already have a year long lease signed. It would just be extra cash in their pocket. Just a thought

@Grant Bynum In all honesty, these landlords are terrible and rarely even check up on their properties. I live in an apartment owned by the same company and they have a property manager who literally lives 12 hours away from the property I am leasing and never comes (besides when there are major complaints from all 30 of us tenants). 

@Paul Sandhu The landlord isn't doing it themselves because they have over $200,000,000 worth of real estate in this particular market and are focused on long-term lease agreements. The extra returns with air bnb aren't worth the headache for them. My main concern was regarding issues with the landlord, hence why I was posting this for everyone to comment on. The landlords aren't too hands-on with their properties from what I have seen/heard of so far. I live in an apartment owned by the same company and the property manager of this particular property lives within a 12 hour drive of us. 

Hey BiggerPockets fam!

I am a college student at the University of Wisconsin-Madison and came across a genius Air BnB arbitrage idea.

There are 15 students who are going abroad for 5 months and are leaving their units vacant because they are too lazy/incompetent to sublease their apartments. I have created a model where I would pick up their sublease for 60 cents on the dollar (around 600 for each unit) and rent it out on air bnb for $100-$200 a day with an expected occupancy of 75% - $24,750-$58,500 per month for 5 months (if feasible, I could expand to upwards of 100 students).

Sounds great right?

However, I have one issue:

In the terms of the lease, it states "All sublets must be approved in writing by management". Do you think I will have any issues with the landlord in doing so?

I would love some help from experienced Air BnB'ers and would definitely consider doing this as a JV.

Please let me know Y'all's thoughts!!!!