All Forum Posts by: John Casmon

@Jim K.

You posted the exact amount on the internet?!? Expect an unpleasant knock on the door at some point in the future.

As far as investing advice, setup a trust and invest in a handful of passive projects. Notes, syndications, and hard money.

And when is this massive price drop happening? Have been hearing about it for 4 years now. I do expect houses to drop in value, by not convinced multifamily will see the same impact.

The point is “waiting” is never a good strategy. Tightening up your criteria makes sense, but too many people are sitting around waiting. Meaning not taking any action until they hear that prices have dropped. Unfortunately, when things do drop, so will the lenders willingness to loan money.

Be more cautious and conservative, but keep looking for opportunities.

Orlando, Tampa, and Jacksonville are seeing great economic growth and are excellent for multifamily.

Pay close attention to the submarkets and be more cautious of markets that rely heavily on tourism.

Hey @Shamar Gregg, we host the Chicago Multifamily Club, which is a free group with no pitching. Our next event will be virtual and are posted here on BP. If you need help finding events, go to the "network" dropdown menu and then go to "events". It should populate deals that are local, but you can also use the search function.

Join us as we speak with Eachan Fletcher to discuss how to use technology to manage rental properties. The event will be held on our Facebook page, so please use the link to join and we look forward to connecting!

Yes, this will be an immersive, interactive experience, not just livestreams of speakers. Look forward to connecting with you during the event!

@Evan Polaski @Greg Dickerson @Jonathan Farber thanks for the responses. My current approach is a quick review of the area to ensure we'd want to invest there (1, 3, and 5-mile demographics), and then using general expense ratio as a placeholder (between 45-55% depending on the vintage of the asset). If it looks like it might be a winner, I underwrite the whole deal.

Curious if anyone is combining any rules or other shorthands like GRM + 70% rule (for rehabbing) to determine if a deal is worth underwriting.

Investing in Chicago is all about the strategy. In the sub $200k price range, your team is going to be critical. Find the right agent, PM, and contractor and let them navigate the specific neighborhoods on your behalf. 

@Stanislav Perevozchikov

I've seen plenty of shortcuts to analyze apartment deals, but not quite for value-add strategies. 

It takes me at least an hour to properly analyze a value-add apartment deal, and I'm curious if others have come up with shortcuts to determine if a deal really warrants the full analysis. Is there a way to quickly tell if a deal warrants that hour long investment? Is there a key metric that you look at to determine if a deal is worth more of your time?  

I have another contact that I just spoke with....will send you a PM.

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