All Forum Posts by: Eric Benzenhoefer

Howdy @Hector Perez,

Caution ** I am brand new to notes but I had a thought.

Could you use https://www.lendingclub.com/ to get he cash and then use the current monthly payment from the homeowner to pay the lendingclub investor? The site advertises to investors a 4-8% ROI so I am betting that you can make something work that has the correct ROI and LTV numbers that attract investors.

Again *** this is only brainstorming.  I have not done this but I am getting into the space.  

This is not exactly what you asked so feel free to redirect the forum away from this idea.

Great potential for this thread. This project of mine , I found through sending postcards to tax delinquent folks.  The people who sold it to us received 2 postcards nearly identical (black lettering, yellow card, red handwritten addressing, 1/4 the size of a normal piece of paper, hand placed stamp). They could not give me a reason they went with me over the other.

Howdy Apartment Owners,

Which apartment management is known for their quality and ethics?  I am looking for the opinions people who have hired apartments.

I live in Houston, but also am asking for the Austin, College Station, and Bryan Texas areas.

Speaking to those who own Multi-Family properties right now and have hired a property manager to run them, who do respect for their work quality, systems efficiency, and ethical practices when working in the gray in the Apartment Management Business?

Thanks @Cameron Norfleet ,

Did you also go through a property management company?

Thanks @James Klafehn ,

As an assistant property manager, what exactly do you do over the year? I assume tenant screening, but do you also get to learn all the aspects of running the complex?

Career advice requested:

I am a 2 yr investor who has rehabbed and am now running an 11 plex with an experienced partner.  I enjoy running the property much more than the acquisition or the rehab. I enjoy the daily interaction with people and creating quality systems that lead to quality, and legal, work. Plus with the systems, we are creating the ability control our schedules and work remotely (i.e. the freedom to take an extended weekend trip and stay on top of things).

I am educating myself on acquiring larger apartment buildings and understand that I need great knowledge and a bit of money to attract a partner with more money and a bit of knowledge.

My Question

What should I do to make money and acquire the knowledge needed to walk a distressed multifamily property and identify what is needed to turn it around?

I was thinking of either:

1. Joining an apartment management company to learn the ropes.

2. Start a property management company for small apartment building that larger companies would not be interested in.

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Looking for educated opinions...

Certificate of occupancy in hand means that the rehab is officially over!

From here we are exploring multiple exit strategies as we have it listed for sale and we are pursuing a refi to hold it.

@Steven Hamilton II -  link did not work last time

Hi @Steven Hamilton II,

I have this same question (1065 vs Schedule E)  However the partnership is between Me (as a person) and my partners LLC (which consists of him and his wife).  We are in Texas

He normally uses schedule E with properties and his CPA told us to do a Schedule E for this one. This site makes me believe that we should use a 1065 however since I am involved in the partnership.  Is that correct?

https://answers.yahoo.com/question/index?qid=20120...