All Forum Posts by: Himanshu Jain

Hi I am looking at buying  and raising money for a 100+ unit Student Housing and I was wondering if people can share some thoughts on what to focus on during due diligence especially from the student housing of that size.

I have run into an HOA issue - I have leased a townhome to a tenant and I leased it with verbal consent form one of the board of directors of the HOA. Now the association is saying I cannot lease the property as I did not provide them all the details in time. The tenant is interested in buying the property but she is going through the divorce process and cannot get financing right now.

Is there a creative way to sell the home to her not going through the financing process? I have heard about subject to a lot. Just wondering if that could be an option here for me as the seller, what would be some of its downside in this case? Do you know of any other creative was to address this?

Yes It did work out Ok, ran into lots of issues towards the end of the project though. The contractors vanished and had to really pay more than what was agreed on initially, had to pay for some of their mistakes too. One biggest learning in the end was to sell such properties As Is, as you have not lived here you might not know what can happen in some situations. I ran into a issue with water flooding the basement after buyers moved in. Had to go through the legal response to protect myself from the unknowns. 
All in all it was great learning and a great satisfaction of delivering and creating a beautiful home.

Thanks all for the inputs. I did speak to the city officials and there are some restrictions, it allows be to rezone to upto 4 SFH only. Difficult to work with that low number.

Hi,

I would like to know more on the properties that you have available in St Louis area.

Thanks

Himanshu

I am evaluating a senior independent housing units. Just wondering if there are any thumbrules or generic numbers that I can use. Here are some of the things that I am looking for, I will appreciate if you could share based on the deals you have done in this specific segment.

1) What is usually the occupancy rate in senior independent housing?

2) What are some the operational costs involved other than the typical multifamily operations cost? It will help if someone can share what such costs are?  and that should be factored in during the evaluation.

3) What are possible value add opportunities in the senior housing?

4) How is the scope in senior housing for next decade?

Thanks Jay, that is a good idea. How would you go and find someone like this in a new area?

 Thanks Carl, I will reach out to you to see if we can chat sometime

 Thanks Scott, Appreciate your inputs. Do you think I should work with a local developer or with an out of state/town developer? I was thinking I could add value to a out of state developer or investor who is looking to expand. I am a real estate agent and have been investing in real estate for last four years now. I have a good network of vendors, contractors that I work with on regular basis.

Hi,

I am looking for information on how can one go about developing a single family subdivision? I am wondering if someone can share some insights into following:

1) How to go about rezoning?

2) How to do about getting public utilities?

3) What is a typical development process/cycle for building a subdivision?

4) How to estimate costs for each step?

5) What all should the proposal cover for getting financing on the project?

6) How to go about finding a right partner for the project?