All Forum Posts by: Matthew Shay

Thank You! @Josh Oaten

Well said! @Jonathan Twombly

Thank You. You opened my eyes to speaking with more real estate professionals in order to source deals @Todd Dexheimer

Thank You for the thorough explanation! @Ben Leybovich

Thanks everyone for contributing

@Ben Leybovich Can you explain why IRR is higher to members when it is for a shorter period? When you say $300 per door on a value add are you referring to NOI, FMV?

@Oleg Shalumov thanks for your response. I see are also on slack in the DMM. Looking forward to connecting and networking over there as well!

I am interested to hear different investment criteria that people have for multifamily properties. I know that this is a subjective question. Some of the metrics I want to know about include cap rate, COCR, IRR, DSCR. Are you funding the deals yourself, private partners, commercial lenders? What class markets are you investing in and what class property type?

Hi Paul, 

I would bt interested to hear how did it go with the  MF purchasing in the locations you mentioned. Specifically, how did you track down the brokers and how did you source your deals @Paul Khazansky

Thank You Chase for the tip. Did not know that about Texas! Are the increase in property taxes higher when it is based on the purchase price or when they do not reassess for a while? Any other states besides Texas automatically increase taxes when purchasing on the following year? Is this true for certain counties in TX or for the state as a whole? @Chase Louderback

Some states do not raise taxes based on the purchase price and they have other factors. I am new to multifamily real estate and just want to explain it from my perspective. The rise in taxes affects the net income which affects the value of the property. This is also why I am attracted to apartment buildings since it is all about raising the income in order to increase the value of the property

Which states raise taxes based on the purchase price of real estate? I saw somewhere online that California is one of them. Is there a difference among the different classes of real estate i.e. multifamily vs. single family? 

This has a tremendous impact on cap rate and I read a story where a client had an accepted offer to be used for 1031 exchange, only to find out during due diligence that the listing agent put the lower cap tax value in the listing expenses instead of the actual and relevant current value. It ended up being a disaster for the client because he had to back out of the deal to buy another property and still paid capital gains tax. Moral of the story, do your due diligence and assume that the cap rate that the seller gives you is higher than it is

Rosen Law LLC in Great Neck

@Kathryn Kz Interested to know how did it go in the end. Did you have an attorney file for your real estate ownership in the jurisdiction of NY?