All Forum Posts by: Christopher Lombardi

@Philip Abbey it depends on the interest rate. If you can find a real estate deal that offers a better return than the interest you are paying on the debt you should do the deal and keep the debt outstanding as long as you can. If the interest is high it may not be worth having it.

@Adam Rudolph I believe it is late in the game. It’s not easy to find a good deal today but not completely impossible. Just make sure when you do your underwriting you don’t assume huge rent increases and small cap rates on the exit. Assume things aren’t going to go well and wrote that into your model and you’ll do fine on the deal.

You seem very defensive.  You need to do some  more research though.  Maybe posting questions here isn't a good way to do it since you clearly have issues with the responses.  

@Steve K.  I agree, NJ is screwed as well.   CA, IL, NY and NJ, the 4 states that have a mass exodus happening right now.  These politicians are idiots.   As for the solar panel thing, financially, solar panels never make sense.  They cost much more than getting your electricity the traditional way from the power companies.  I'm not sure how CA plans to pay for it or specifically what the law said, but I'm sure its going to hurt everyone.   As far as how good they are for the environment, solar panels dont last very long and when disposed of, the toxic metals that they contain are very harmful to the environment.   Right now they dont have enough solar panel recycling facilities to have them recycled so the way it is now, instead of polluting with fossil fuels, its polluting grounds and water with toxic metals.  

Actually, isnt CA almost exclusively nuclear power anyway right now?

@Kevin S. Just tell her you decided to go with another applicant.  Its the truth.

@Steven Picker that state is screwed.

@Daniel Coleman, it depends on what you are having built and what architect you use.  Get quotes from at least a few in your area.  I had a 15 unit I wanted designed.   I was quoted 50k from one architect and 200k from another.   Its crazy how different your quotes can be.   They will bill you as work is completed just like a contractor would.  Probably get a retainer up front and then bill you after the first draft, 2nd draft, etc.    Hope this helps.

Once you hit about 70 units you can have a full time on site manager.   Anything below that is a little more difficult to manage because it doesnt require someone full time and its harder to find part time people and more expensive to get maintenance done on a one off basis.   My first big one was 52 units and it was just an awkward size because someone had to be there about every other day and not for full days.  It costs more that way because rather than paying a salary you are paying per job.    75% occupancy may be a little tougher to finance, so check with some mortgage brokers before you put an offer on a property that has that much occupancy.     All the best.

This thread is absurd. Turns out you weren’t even the one who needed to pay the commission? You lost the deal for no reason.

@Cal C. Sounds like you made an offer, they countered (including a commission), you rejected. Why do you think they don’t have the right to sell to someone else?