All Forum Posts by: Matthew Shay
Matthew Shay has started 27 posts and replied 70 times.
Post: Investment criteria for buying Apartment Buildings

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
Thank You! @Josh Oaten
Post: Investment criteria for buying Apartment Buildings

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
Well said! @Jonathan Twombly
Thank You. You opened my eyes to speaking with more real estate professionals in order to source deals @Todd Dexheimer
Post: Investment criteria for buying Apartment Buildings

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
Thank You for the thorough explanation! @Ben Leybovich
Post: Investment criteria for buying Apartment Buildings

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
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!
Post: Investment criteria for buying Apartment Buildings

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
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?
Post: Finding Multifamily brokers

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
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
Post: Raising Taxes Based on Purchase Price

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
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
Post: Raising Taxes Based on Purchase Price

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
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
Post: Looking for an Attorney in NYC that is familiar with Wholesale

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
Rosen Law LLC in Great Neck
Post: Inherited Manhattan Apartment Question

- Investor
- Miami Beach, FL
- Posts 71
- Votes 12
@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?