All Forum Posts by: Jason Yarusi

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $5,100,000

A 29-unit all-inclusive apartment community centered in the heart of the highly desirable, walkable, and historic University Circle neighborhood. Newly built in 2022, this fully furnished community features amenities such as in-unit washer and dryers, eat-in kitchens, a 55” Smart TV, luxury vinyl flooring, a rooftop terrace with grills, off street reserved parking, and a car/bike share program.
Conveniently located near a variety of dining and shops, and also just a couple miles away from Case Western Reserve University, Cleveland Clinic and University Hospitals, Mikros on Larchmere is situated in an ideal location on Cleveland’s Eastside.

@Steve Rugg Multifamily is all about team and economies of scale. The larger you go the more each play in your favor. Your breakout now still isn’t enough for full time staff but close and depending on proximity you may be able to have a staff work on all properties.

@Gino Gonzales 1-2% is but depends on partnership break out if this is even applicable. Also if only a two family I’m not sure I would especially not putting in any capital

@Kevin Lefeuvre honestly time will tell. Overreaction won’t help.

@Matt Chestnut source a great securities attorney to add to your team as they will be a vital fixture as you move forward.

@Gal Shapira you can go on sites like crowd street and read the PPMs. Also find a great syndication attorney and understand what’s required even if you have to pay for an hour of time

@John Blanton I just sold a syndication 4 years early because we crushed our returns, double expected IRR in two years for what we expected in year 6. That said it was also because a great comp went on market and sold and I didn't feel in four years I would have another. Also with the market how it is I had to look at both sides of what would be downside to hold and that was a lot heavier than selling now. I am putting another property for sale now too with same variables. Hard part is there is limited options to move into

@Justin Gottuso you really need to quantify your goals and that will make your decision easy. Options are endless and no answer is wrong.