All Forum Posts by: Jonathan Makovsky

Happy holidays @Joe Calisto

I am not a good source to provide names of insurance companies for quotes, but I have two colleagues that are insurance reps that can provide you with quotes. Please PM me if you're interested.

Happy holidays @Joseph F.

I think the answer will depend on the deal you bring to the investors. The sexier the deal you offer to your investor(s), the more negotiating power you will have in taking a piece of the pie for yourself. If you can show that your deal will provide the investor with the desired return that the investor is looking for, and at the same time you can take a piece of the action, the investor might be very happy with the structure. Especially considering that the investor knows that you'll have a strong incentive to keep the property cash-flowing,

With that said there are so many ways to skin a cat and structure your investor deals.

One way that I personally like, is offering an investor a cumulative preferred return and then earning a promote once the return is met. For example, give your investor a 7% cumulative preferred return - which means the first 7% of their investment will always go to them, and if in one year you don't meet that return then it accumulates to future years - then once their (7%) return is met, you can split the profits based on an agreed upon amount, for example 50/50.

Hope that makes sense.

Thanks @Adam Johnson. Is there a way to verify the numbers before going into agreement with the seller? (My initial question pertained to what numbers to use to make an appropriate offer.)

I tried calling the utility company in the past, but they said that they will not give out any information unless I am the owner of the property. Is there a way around this?

Thanks @James Syed!

Hi BP,

Is there a safe cost assumption I can use, for the price of gas per unit in the northeast? It is specifically for heat and hot water (tenants are responsible for their own cooking gas). Thanks.

@Steve Grace thank you for your advice - much appreciated from someone who has been in the business.

Shannon J.

Is anyone here familiar with the Middletown, CT market?

A real estate agent has been showing me some properties and I would like to know if there's someone at BP that could shed some light on this market. Thanks in advance.

@Raymond B. thank you for that - I thought I was doing something wrong.

Hi @Paul Springer, I have not used either of these attorneys yet (since I am still waiting to close on my first deal), but I received recommendations on both of these attorneys. Please let me know if either of them are good/helpful:

Michael R. Lowitt, Esq.

Lowitt & Associates, LLP

125 Mason Street

Greenwich, CT 06830

[email protected]

Ph. (203) 510-8354

Dawn M. Pearson- Attorney
203-488-8950 extension 104
[email protected]

@Andy Collins great points. My understanding was that an investor might be putting themselves at a financial risk by not incorporating; for example if there was a lawsuit of some sort. Is that the case?