All Forum Posts by: Jeff Greenberg

Yes the meeting is on the 12th

The UnUrban Cafe, 3301 Pico Blvd, Santa Monica

Come join us for some great networking. Meet with fellow investors and BPers?

How can we help you to move onto the next step?

@Michael Guzik for this topic.  If you want to get a job done, give it to a busy person.  Most experienced people this site give to help their fellow investors avoid mistakes that they have made in the past.  I know that I started lurking in the background and eventually started answering questions I felt knowledgeable in.  I didn't really give much thought to what I would be getting in return.  But my conversations on the forums led to a BP interview, and many other podcasts after that.  All of this unplanned attention has brought me much success without self promotion.

BP is about helping each other without any expectations. I run two REI clubs and tell everyone that they need to take advantage of what BP has to offer. I rarely go on facebook, and I do force myself to go on linkedin, but PB is a great place to hang out with like minded people.

Maybe that person that is too busy for BP, might find some more efficient ways to run his business and have more time to give back, and maybe enjoy life.  There is more to life than just money.  

I am about 50 miles from Long Beach.

yes

I agree with both @Gino Barbaro and @Omar Khan to keep it simple. Remember though, it could be an LLC, or TIC and still be considered a security if if the gp has all of the control over the money and the deal. With a small group you can create an LLC or do a TIC with everyone having the ability to vote on what happens to the property. If you take the lead, pay yourself an asset management fee. Everything else can be evenly split or prorated according to capital contribution.

If the other other investors want to be hands off, you need to get a PPM and set up the structure through an SEC attorney.  Our typical structure is a 60/40 split to investors, with an 8% pref return on the cashflow.  It is a straight 60/40 split of the profit at sale or refi.  We do take an acquisition fee and an asset management fee.  There are many ways to structure the deals.

It is open.  Just show up

@Lennon Lee  your numbers seem to be pretty spot on, besides some outliers that we have seen in either direction.

In any case, here are the numbers that our operating partners are currently achieving, and what you should expect from serious operators that are playing in the Class C+,B+ stabilized multifamily with value-add components arena:

- 1st year Cash-on-cash: 5-8%

- Avg. Cash-on-cash: 8-12%

- Avg. Annual Returns (Including proceeds from sale on a 5 year hold): 15-22%

I am curious what other are seeing in the current market conditions.  @Brian Burke @Todd Dexheimer @Joe Fairless @Brian Adams

Today at 11am.  2nd Sat if each month

It seems that @Scott Skinger and @Bharath(AJ) A. identified most of them.  The only thing that I would add, would be that interior upgrades will allow you to bring the rents up to the market rents.