All Forum Posts by: Omar Khan

@Jim Growfer These filters are old and only work in very specific markets for particular assets only. Your best bet would be to understand your local market (or the market where you want to invest) by going through the T12 of the listed properties. Even then each market has different submarkets with their own characteristics and revenue/expense structures.

@Anthony Palmiotto The property in question is too small for a syndication. The setup, legal and continuing compliance costs alone will eat into most, if not all, of your profits. 

A standard partnership agreement should work fine especially because (my assumption here) that you won't have the 50+ investors typical in larger syndication deals. 

@Omer Netz That depends - what are you trying to buy? I'm surprised realtors are telling you to not buy in their market. I have never heard that one before. 

@Beau Fannon Millennials would love to buy if they weren't crushed under student debts. Thankfully, I am not crushed under student or other consumer debt due to the largess of my parents and having studied in Canada (where I didn't have to mortgage my organs to get a quality education... lol). 

Austin is severely over built and I'm very interested in seeing how this play outs. I love the city but it's becoming a pain driving during rush hour every time I go see my relatives. 

@Chai Jonn Tyle Kastleberg (post above me) has a great free model on his website plus you can utilize his expertise. 

You can also go to: Tools >> File Place and download the spreadsheets others have generously uploaded.

Either way, I would follow Tyler's advice and start networking/walking properties. 99% of the gurus are marketing hype with little to no actual substance or operational experience. 

In RE most folks are generous with their time provided you're asking intelligent questions. 

@John Acklen In order of priority:

- Walking the comps (shoe leather)

- Data services like CoStar, REIS, Yardi

- PM

- Broker

- Hope and prayer ;)

@Ray Dryjanski Valuation is a very nebulous term. In the current hot market, the sellers get to decided the price and the buyers get to decide what to buy. There's not enough negotiation going on because the balance is tilted towards the seller. 

You can get a BOV (broker opinion of value) but it won't do you much good if the seller does not want to sell at the price you want (even though you can back your valuation with #s) or someone else shows up with more money. 

I would buy unless you have knowledge none of us are privy to. Often times, deals in Dallas look great because people assumed the past is a predictor of the future. That is not the case as trees don't grow to the sky. 

It would be helpful to know: rent growth, exit cap, business plan and your experience with such assets before offering any suggestions. For instance, even in hot markets like Fort Worth, Garland and Richardson many investors have had a hard time hitting their #s either because of inexperience or having the wrong partnerships (especially for out-of-state investors). 

@Tony Gunter Honestly, pick one and move on. You will outgrow most CRMs anyways because nothing is going to be custom designed for you unless you shell out the big bucks. Honestly, don't lose too many brain cells over this. It's not worth the hassle. 

If it does 80-90% of the work, just go for it. 

 No way! Your Tesla looks (and is) way cooler than my Corolla. Plus, I have no ludicrous mode :(