All Forum Posts by: Jason Meadows

@Dave Meyer This could be some really next-level stuff.  Will you be giving BP members access to the original data on which the Insights are based?  You might get some interesting secondary analyses if you let people play around with the data.

@Cedrick Mahieux this is truly an impressive effort.  What background do you have that allowed you to do this?  Are you a data scientist?  Was this just some excel magic or did you use some other software or programming language?

It would be great if real estate law firms, high quality RE agents, private and hard money lenders, different contractors (organized by the type of work they do) could be included.  The more region-specific the better.

I would echo the sentiments others have expressed regarding allowing users to contribute their own reviews if they have worked with a company and if it's a company with offices in many locations, allowing them to specify where the services were rendered.  The danger clearly is people leaving low-value reviews and fake reviews driven by bad motives.  You might be able to make reviews more valuable by providing a specific format (e.g. questions with responses on a likert scale - strongly disagree to strongly agree) with only a small number of characters permitted for free text responses.

I second @Bob Floss II's comment that it may be useful to require that reviews come only from members with a certain amount of BP credibility (posts, votes etc).  Maybe even limiting reviews to Pro members.

@Dave E. What IS she interested in? Is there any way her interests and yours intersect? There are a million ways to find common ground here. If she likes design and fashion, ask her opinion on the staging and decor for one of your properties. If she likes to cook, spark up a conversation about her dream kitchen and relate it to what you're doing. If she likes watching sports, maybe get her opinion on making a living room renovation perfect for watching the game with the family. Better yet, buy tickets to an event she likes with some profit from your next deal. 

As others have said, it's totally ok if she doesn't love it like you do.  Her being ok with you doing it is a win already and smothering her with too much enthusiasm will make things harder, not easier.

Agree with @Joe Jor. Another key point to note here is that NOI = Total Income - Operating Expenses. The latter, as the name implies, only includes expenses associated with keeping the property operating and does not include mortgage. If you get a monthly NOI of $550 and then subtract the mortgage cost you are going to be cashflow negative by quite a bit. If your cashflow is negative, your cash-on-cash return will be too.

Hey Connor,

First off, love that you're tackling this head on, even in this crazy time.

I tried running your numbers, using some reasonable assumptions of utility costs (incl CapEx, vacancy, maintenance, and PM) and got pretty different numbers. If I understand your last post, it looks like you're saying NOI = $3600/month with operating expenses of $3050. Does that mean you are assuming Income of $6650 for a duplex (3BR and 1BR)? This seems very high to me given rents I see in that area. You also mention getting hard money for 75% and 25% privately but later mention $375k HM and $25k private which are 93.75% and 6.25%, respectively, on a $400k purchase price. Anyway, would be interested to hear more about the numbers. Happy to help if I can.

Jason

Hey all,

My girlfriend is born and raised in the Bronx and we are looking to invest there.  Would love to be included in the next meetup.  Hopefully things calm down a bit in the coming months.  Hope you're all safe and healthy.

Jason

Hey everyone,

I have a property in New Glasgow, NS that we are looking to develop into more rentals vs nursing home or long-term care facility since there is a lot of undeveloped land on the property but I'm not sure what the market is like there.  Anyone have experience with this?  What's the rental market like in NG these days?  What kinds of tenants are looking for apartments?  Older/young, job type etc?

Thanks a lot for any help and advice you can give.

Jason