All Forum Posts by: Michael Elfant

Hey guys,

I'm wondering how people feel about naming a development company after their own name vs something random like Blue Stone Homes, LLC or Solid Properties, LLC? I'm planning on forming a building and design company and am contemplating on which direction to go in for name of company and branding. My last name is Elfant and I was thinking of going with Elfant Homes, LLC. Pronounced Elfont. But am wondering if that hurts my ability to scale down the road or if my company would be viewed different versus having a more generic company name. Any feedback would be much appreciated.

Best,

Mike

Hi Guys,

What has been a deal structure that has worked for some of you guys on a typical single family home flip?  Can a simple 8-10% loan work vs giving up equity and how is the investors money treated in a scenario where the deal loses money vs profits?  

I'm really interested in hearing what types of deal structures have been successful for other operators on these forums.

Best,

Mike 

Hey guys, i'm wondering if anyone can recommend a user-friendly construction software that makes it easy to schedule and maintain sequencing of events for your typical single-family construction project?

Thank you in advance.

Mike

Hi - I am looking for a quality general contractor to GC a new construction flip in an affluent area in Bergen County.  Please let me know if you or someone you know is looking for work.  Thanks 

Kelly Arthur I will reach out. Much appreciated.

If you know someone in or around Bergen County that can help with 1031 exchanges, simple buy/sell transactions, investor promissory notes, wholesaling arrangements, etc. please let me know!  

Thank you,

Mike

If you know someone in or around Bergen County that can help with 1031 exchanges, simple buy/sell transactions, investor promissory notes, wholesaling arrangements, etc.  please let me know!  

Thank you,

Mike

Jennie Wang Diana Tian While I do believe that there is a supply issue in JC for condos/SFR's, I wouldn't say that the prices are going to be on par with Brooklyn anytime soon. The difference is that BK's growth was jolted due to a healthy dose of tax abatements. You aren't seeing that in JC for new condo developments. Developers might be getting abatements for rental projects but certainly not condos. In BK you can afford a much higher costing condo due to little or no taxes affecting your monthly allocations.

@Gino Barbaro  Looks like we're on the same page regarding cap-ex/rent control eating into your returns.  Thx for responding!   Do you do some personalized coaching aside from investing?

Hi - I was shown a 6 family complex with a total of 15 parking spots that surmounted to an 8% cap rate.  The units all are old and will surely need work in the not to distant future.  Also, the building is rent controlled so you wouldn't really be able to increase the value by renovating and raising rents.  

I was wondering how people look at a deal like this where the cap rate sounds great on paper for the area but it needs a good amount of cap-ex and is rent controlled?  Is it still attractive given all of this information if comps that are in better shape are trading at a 6% cap max.  

Thx,

Mike