All Forum Posts by: Nate Morris

@Brandy Smith

One more, check out https://www.metrostudy.com/press/remodeling-magazine-releases-2019-cost-vs-value-report/

These reports tend to guide improvements. I am

Always interested to see front doors as highest return for the $

@Larry Marshall Tax Free Wealth by Tom Wheelwright

@Brandy Smith I would say talk to 2-3 local realtors who have high turnovers about the cost/price benefits of upgrades. Some buyers want to customize the home how they like. It also may be a slightly better season now to sell ‘as is’ than when your project is complete in a few months.

@Lee Ripma

Great comment. I have been doing smaller MF value add and looking to transition to larger stabilized reposition... appreciate any thoughts on the keys to increasing rents when the property is already fitted with laundry hookups and in decent condition.

@Justin Elliott

Thanks, will do!

@Sean Tagge

Sweet! Message me and we can jump on a call!

Curious your strategy for leasing and renovation levels.

@James Martin

Not yet, negotiating on a few projects on Airways. Met with a few great PM candidates yesterday. Building my list of subs and have my KC project lead standing by to head to town.

My recent concern on talking to folks is the quality of tenants and challenges reaching a stable >90% occupancy for refinance.

Any feedback?

Nate

I am looking to network with PMs, contractors, and other investors in the 50-150 unit size apartment complexes in Memphis, TN.

Specifically I am looking in Shelby County south Memphis near the airport.

Happy to chat on my projects in KC and Hi.

Nate

Any help on financing?

Besides the ADU companies, do you know any banks willing to finance $250k for ADU+JrADU build?

Yes, we did it last May during the Volcano. It stopped about a month after we closed escrow. The insurance cost did not increase (we made no claims) though many carriers left the island.

The occupancy rate for our 5bed/2bath is ~62%. We offer a van for use as well, but most owners see about 60%.

Our returns are helped by an on-site 2nd unit which we rent full time to caretaker /landscaper. 

HOWEVER, see local Bill 108 if you are going to buy. Lots of changes for those operating outside of the resort zoning. 

Happy to help in any way