All Forum Posts by: Michael Le

Get introductions. Talk to other investors, property managers, mortgage brokers, title companies, etc and just ask. If you're just starting out then don't start out by being so picky about just working with rock-star brokers. You won't get much notice from a rock-star broker because they already have their large list of clients and unless you bring something special, you won't stand out much as a newbie. Young and smaller brokers will likely be hungrier and also likelier to have deals in the size you can take down.

Check these guys out

https://www.activedutypassiveincome.com/

That number would be low even for class A property. For class C I think seems way too low.

There is no free service that provides this that I know of. Costar is a paid service that gives you this information. What do you need it for anyway? If there is a deal being marketed, the listing broker will have that information in the OM. If the deal is not being marketed, what do you think having this information will do for you?

Thanks for the kind words. Very glad to have the chance to meet and talk with you. Hope to see you at an upcoming event. Feel free to ping me on email/phone if you want to talk before then.

What do your competitors have in terms of amenities? If they all have pools then you don't have any advantage so you would charge basically what they do, all else being equal. If none of them have pools then it would be up to you to test the rents at that point. All that being said, a pool for 8 units seems like a huge expense for little return.

Most of the time RUBS is easier to implement if you're master metered. But you get other value from implementing water meters. Most municipalities will limit the percent you can RUBS back if you're not separately metered, so you can bill back more and save/make more money that way. Also, with certain meters it can also help you detect leaks proactively, which really helps too.

I just wanted to point out that the OP did not specify they wanted to do MF syndication. Although it seems likely that's what they're asking, as you know you can syndicate many different types of deals.

https://www.meetup.com/Multifamily-Wealth-Network/events/261453780/

@Juan Vargas

Come and join us in The Woodlands for our June Meetup! We'll be discussing the many ways to find deals to invest in and as always, there will be lots of time for networking. Will be valuable and fun!

Agenda:
11:30AM Networking
12:00PM - 1:00PM Presentation
1:00PM - 2:00PM Networking

This is a FREE event and there will be no sales pitches of any kind.

P.S. Don't forget to bring your business cards. See you there!

If you don't have the patience to wait for the Seller to evict these tenants, are you sure you have the patience to be a landlord in a tenant-friendly state like NY?