All Forum Posts by: Jeff Greenberg

Come join us for some great networking.  Come share your latest successes or frustrations.  How can we help you be successful?

@Marc Meinhardt Come by the unurban cafe in SM this Sat at 11:00

Background:

We have secured a building on a small college campus in Cleveland that currently does not offer student housing to its students on campus. The only option students have is about 20-30 miles away. We are semi-working with the school to offer student housing for the first time on campus.  Are these property actually on the campus?

My Questions for all of you are:

How have you invested in student housing? Do you purchase small properties on campus, or do you own apartment buildings? The properties we have invested in were off campus and were already SH.  

I have an idea of what to expect when managing a dorm, but I am wondering if anyone has any experience with it? Did reality differ from expectations? Explain the differences between managing a dorm vs. managing a large apartment complex.  We do not manage dorms, but off campus housing.  There are many differences between SH and market rate MF.  I suggest that you view my podcast on this topic. http://synergeticinvestmentgroup.com/2019/01/02/rod-khleif-student-housing/

Please give me any opinion you may have on Student Housing? I am eager to learn more from actual experience, not just books and websites!   PM me to get on a phone call.

Come network with local Angelinos and see what is working and what is not.  Ask that question that you have been holding off on.

yes we are!

@Jiten Voralia I find @Manish Bahety comment interesting.  I agree that spending time getting to know a sponsor is a prudent way to invest.  The one comment that I would make on that, is to start your due diligence on the sponsor well before you see their offering that you may be interested in.  Once there is an offering made to you, you don't have much time to vet the sponsor.  Due that ahead of time and be prepared to vet the offering when one comes around. 

I agree with the importance of the sponsor in the success of your investment.  It is very important that you spend as much if not more time vetting the sponsor than vetting the deal.  

I agree that it is very easy to sway the numbers any way you want. That is why you need to have confidence in the sponsor.

The interesting issue in this conversation is that I have never been asked to prove, either my valuation of the deal or my ownership percentage that I stated in my PFS. I have been asked for proof of liquidity.  That included cash, retirement, and stock accounts.  I was never asked about any of the private placements either in a GP or LP position.

@Chris Tracy It was close, but you missed us by 500 miles. lol

@Peggy Liu thanks for shout out.  11:00am at the unurban cafe in Santa Monica.  2nd Sat of the month

@David W. there will be one in November.  I won't be there, but I will have someone running it.  I am not sure who you reached out to.