All Forum Posts by: Gino Barbaro

@Chirdeep Bhutani

From various sources, values peaked in 2022, and have gone down about 20%. If you talk to appraisers, we have another 20-30% to go. That's why there's been little activity. if you don't have to sell, you hold on.

This extend and pretend will end sooner or later, and when it does, investors will be forced to sell. And where you'll see cap rates go up is in the older assets and smaller markets.

@Jerry Zhang

It's a pretty impossible question to answer. So many variables will affect speed. If you have a relationship with the seller, if the property is fairly priced, if the seller is motivated, and you identify it as a deal, then you can send an LOI after the first call. Wait for accepted offer.

Or are you doing a tour before you put in an LOI? After the LOI is accepted, rejected, or ten negotiated, you go to contract. Depending on the complexity of the deal, you can have a few revisions, negotiations to the contract.

To me, the focus of the calls is to gauge whether or not the seller is motivated to sell, and if it fits into my buy box, and the price fits my return criteria. You are listening on these calls to find why they are selling, and what value you can provide to close the deal

Gino

@DeBret McGee II

Your best bet is to secure a deal with creative financing, seller financing or meter lease options. You can also provide sweat equity to a deal, in exchange for equity.

@Tom Rowe

that makes me want to throw up. I thought Florida was bad.  I would reach out to any contact you have, such as realtors, property managers and ask for recommendations. 

@Natali Cobb

I just rented out a studio, and bought a stackable washer/dryer. Probably got $100 more per month for rent. It cost me about $1,000. Get my money back in less than a year, and it's a great amenity.

If you live in a wealthier area, chances are the residents will have their own unit, so you may not have to provide one. You have to understand what is common in your maket

Gino

@Jerry Zhang

I have seen nowhere Pace Morby being sued. It would be rather easy for the multifamily seller to share with you the lawsuit. It may some disgruntled students who joined, but realized real estate was not for them, and sued to get their money back.

@Vinny Muli

If you have equity built up, can you do a cash out refi? You may have to put the deed into your own name. I would talk to the bank first. You are still personally guaranteeing the loan.

And you did the right thing by putting the assets into an entity, especially if there is equity. Find a mortgage broker who will help you with this

Gino

@Shane Pearlman

It sounds like a cluster. Did you ever consider using a property tax appeal expert? Splitting the property sounds like a nightmare, and costly. To me, you have the comp down the street, and I would lean heavily on that. 

@Jerry Zhang

What is typical in your market? And why do they need a high EMD? If you are able to back out of the deal during due diligence, and you really like the deal, then maybe you stick the EMD. You can always ask something on your end, like a longer due diligence period

Gino

@Joe S.

Google Life Coach. You can find different thought leaders have programs such as Zig Ziegler's company, Tony Robbins, John Maxwell. Or go on Linkedin and check the various communities.

Coaching and consulting are two different things.