All Forum Posts by: Hassan O.

Hi. I’m working on 150+ unit class C value add opportunity in San Antonio where more than likely the existing property management team will have to exit.

That said, I’m open to talking to experienced property management companies in market for possible engagement soon after close and would love a referral or two. Mgt must be proactive, experienced with 150 unit +, class C & B management, as well as assisting GP team during a 18-24 month repositioning process. If you know of a property management company that fits this profile, Please send message or reply here. Thx and may the 4th be with you 😄😎

What do you use to estimate rehab cost for your underwriting in the initial analysis of a value add opportunity Prior to making an offer? Is the broker or sellers estimate what you go on or are there loose rules of thumb you follow?For instance you have a 100 unit opportunity and the broker / seller claims 50% of units have been rehabbed over the past two years with the rest ten years ago. How does a person resolve this with knowing the conditions of the others?

I'm doing a little market research on large (50 unit plus) multifamily properties in the San Antonio and Austin MSA's, and would like to find out the following:

1. How many large complexes are IN the market (regardless of whether or not for sale)?

2. The basic property info: Address, age, number of units, length of time for ownership, owner info, sqft, bed/bath and other pertinent property data

3. Ave rents for the area by class of property and location class.

Where can I find this info?

Thanks

Thanks for replying.

How are you seeing/measuring momentum?

Thanks for replying.

How are you seeing/measuring momentum? 

Just curious, it takes a while to gain traction and momentum in this business on the residential side, but results do come quickly. In the multifamily side what are some of the things you have done and are doing for getting traction and sustaining momentum where the timelines are much longer and the opportunities for income along the way appear to be fewer? In other words what are you doing that gets traction towards seeing financial benefit, income opportunities along the way, ownership, etc (tangible results where you see rewards for your actions?

Please expand on that..

Hi. I am branching out from single family investing into the large multifamily space in the Austin- San Antonio, TX MSA's area. I am interested in connecting with others in this space seeking to do the same. This will be my first crack at syndication and I need like minded people on board that can see a huge opportunity coming in the next 6 - 24 months. My intent is to close on, reposition and resale in 5-7 years a great value add opportunity well under cost of replacement in the area based on the following criteria:

Units 70-120
age range 1980-2005
class B & C, workforce housing
Southern Austin MSA & Northeast San Antonio MSA

I know it's a very competitive market and that there will be some challenges as we get through the current environment. I have been in the real estate field since 2000 and am seeking a few individuals that can see an opportunity arising on the other side of COVID. 

In the past I have invested strictly in residential properties (1-4 units), I have closed on more than 20 rehab/rental/flip properties, and have worked as a commercial analyst for a large multinational commercial real estate management firm. I have successfully raised private capital for projects, ran successful marketing campaigns, performed extensive market research, analyzed opportunities (rejected more than I can count :-) ), negotiated terms, managed rehabs, managed rentals, completed short sales, flipped properties and a bit more. I am seeking a small group of folks that can do the same and add to skills and resources I don't possess or am not strong at, and take some of the load off/ shift some of theirs. In return for collaboration, those people that see it thru 2020-27 will participate in upcoming projects. Please note **This is not a financial, debt or capital solicitation**

I am open to coaching, however I would expect that individual to directly participate - where my success is their success. If you already have a coach and need another creative/analytical on board, please reach out to me.

I am in San Diego and this will be my first syndication. If interested, please send me a direct message 

Is there a rule of thumb that any of you follow in regards to submarket population size in a zip code or census tract for different sizes of multifamily properties? For instance if an MSA has a population of 4M people, then for a 50 unit complex what are your minimal submarket population size criteria in a Specific zipcode, census tract or geographic radius, versus that of a 70 or 100 unit property? x number of units per xx of population...

It's relatively easy to get zip code population data, many of which can be very large and may have up to 15,000 people, another 30,000, 50,000+ etc. What do you use to dissect even further?

I have my personal criteria, seeking other points of view

Thanks