All Forum Posts by: Mike Stadel

Does anyone know what the expected cap rates are on the newly a-b class apartments are? I know area makes some difference but just looking for a generalization. Thanks for any input!

Couple thoughts I have is get your phone bill and all other bills on autopay so you don’t have to worry about missing one ever again and to make sure the money is there consider keep a minimum balance in your account never let it dip below say 3 grand so you know money will be there. Consider that your “zero” balance if that makes sense. And lastly I would try to pay off any debt that’s not working for you soon as you can and early if possible. 730 is respectable but you definitely want to flirt with 800 in this game. Good luck!! Hope that gives you an idea or two!

I also wouldn’t worry on the cap rate on that either. Seems like realtors like that term too much, even for single family rentals. For a property like that I am more concerned about the cash flow and if it will make you money. Sounds like it probly a nice place so people will want to live there. Just make sure you can get the return you want and it will help you grow your bank acct:) good luck!

There is an option that you can choose to have a link on your add to have all prospects go thru the screening process or you can opt to send requests from your cozy site to certain tenants who inquire about the property and there won’t be a link for everyone to use. Go to the help page and then screening section and it should talk you thru. I’ve been quite happy with their screening setup.

I am in the same situation where I live and I just searched apartment floor plans on the net and found what I thought would go well here and be popular convenient layouts for tenants. I figured how many units I want and the mix of one bed two bed three bed. Now I’m in the process of finding architects engineers and will let them mesh it all together.

Thanks for the quick replies and info guys I’ll put that to use.

I am in the process of planning a new construction project on a multi family complex with multiple buildings and I’d like to be in the neighborhood of 80 doors all said and done with around 6 or 7 buildings. I have a couole questions to throw out there: 1. I’m curious as to what the thought process is in determining the unit mix for 1,2,3 bed units when investors start a new project. I have some insight from a local property manager on what their complex is short on and I have comp sheets of all the major players for comparison but is there a better way to hone in the mix? 2. Is there a better size to build like 12 15 or 18 unit buildings. Thanks for any insights:)

I agree with the Scott’s I have taken the course and have the analyzer and I think it’s worth every penny. The analyzer is amazing and probly worth the price of the course itself. IMO Im working on a project and am ready to search for investors and I bought it back in October. I’m way ahead of where I’d been without it.

I use cozy too. I’ve been on tenant cloud but not completely happy with it. Cozy has been easy to use for screening posting adds and the most important... getting paid