All Forum Posts by: Kyle Varga

@Jay Hinrichs this is why I want it removed. I've seen people using 1031 exchange buying things at negative cap rates. Ruins the entire market.

I'm in need of a great GC for a full gut rehab of a 80 unit complex.

Need to sign one on to the project asap. Any recommendations would be fantastic.

I'm looking at a run down hotel that's been vacant for years. Seems like the perfect conversion to affordable efficiency units.

I've never done this type of conversion and would love to hear what the pros and cons are of this type of deal.

I know it's risky to have all one unit type and they are small just 384 sq ft per unit. But the numbers just seem crazy good even with a higher vacancy/eviction costs of affordable housing.

@Nik Moushon there is always another way. Maybe it will motivate more sellers to do seller financing to reduce the tax burdon.

@Jaime Mack honestly hope it happens. I'm tired of being out bid by people doing 1031 exchanges buying things at negative cap rates.

Did anyone end up using Zeus? I would love to know how it went. 

@Vinh Nguyen

I have it in my lease that if they don't pay by wire transfer within 24 hours after lease is signed the lease is void and keys will not be handed out without payment in full, proof utilities are switched and renters insurance. Which my pm software requires they provide when they sign the lease anyways.

By that logic, no one would ever sell multifamily properties either. Sometimes people sell to extract capital to be used in different projects. 

@Gary Nicholson, I make all my tenants pay through my property management software ACH transfers are free. I do require first month's rent and deposit to be wire transfer, or cashier's check if I'm local.

@Shannon Robnett

My long-term business plan was to get into building single families and eventually multifamily properties. I was using flips and BRRR to fund this eventual goal. Now that this market is on fire and good deals on homes are becoming less common, I thought it might be a good time to transition.

I have managed several deals from out of state but plan to move back to Texas within a year or so. If I can get a deal like this under way, it would certainly expedite the move.