All Forum Posts by: Omar Khan

Omar Khan has started 11 posts and replied 1427 times.

Originally posted by @Gerard Basil Stripling:

I'm preparing to make an offer to purchase an investment property from my wife's client. Is it best to do 'napkin' style informal or more thorough?

Be more thorough and formal. This is a legal contract. Your prior relationship does not amount to much if you do it "napkin" style and end up looking like an amateur. Your relationship got the door opened for you, now you just have to look professional to seal the deal.

Plus, it's always better to err on the side of caution.

0 Votes

Originally posted by @Frances Buerkens:

My partner and I are moving to Kentucky to begin syndicating apartments in Lexington and Covington (or Cincinnati). Because we won't move until November/December, networking with the local REIA isn't feasible. Do you have any suggestions on how to find and connect with syndicators in that area?

Our goal is to find a C class deal (10-40 units) and bring money for the purchase and rehab to another syndicator's table. We would prefer to have someone experienced on board for our first deal - and potentially many more if we like the relationship.

We have hands on experience in property management, rehabs, and deal finding - but are looking to scale. I am a businesswoman and salesperson, and my partner is an engineer. We have a strong network of high net worth individuals.

Your cost structure will be out of whack when doing 10-40 units syndications. In other words, legal / accounting and other costs will be too high relative to the amount of cash flow/profit you will be able to generate i.e. financial risk management will not be optimal.

3 Votes

Originally posted by @Charles Seaman:

Hey guys. I've been looking at a few multifamily deals in Killeen, TX as of late. I know that Killeen has a lot of rough areas, with only very few of them showing slight improvement. I also know that the military is by far the largest economic creator in the market, so it's often tough finding quality tenants for conventional multifamily properties. For anybody that lives in or invests in Killeen, I'd like to hear your thoughts on the area and the strength of the market so that I can get a better understanding of it. Any feedback is greatly appreciated in advance!

Depending your renting criteria you can get access to a better quality tenant pool. Most military personnel have consistent jobs i.e. your rents will get paid on time. Your issue might be around lending as most lenders either offer worse terms or none at all when you have a high concentration of military personnel. Not saying its fair or right ... but that's the way it is.

1 Vote

@Seth Williams You can exponentially increase the value of most properties by moving them 2 miles down the road. The only problem is that in real life things don't work that way.

In a hot market like Boston, if a seller is coming back to you repeatedly but not budging on price they are either stupid, think you're stupid or not serious.

You are on the right track. If $1.1M is the price that works for you - $1.1M is the price that works for you!

I would suggest tabling a firm offer and moving on. You can proceed if the sellers are serious but move on to other things in life. Don't talk yourself into paying more for a property.

2 Votes

Originally posted by @Shoshana Shulman:

Anyone invest with Mike Krieg of Steeplerock Partners?

I'm thinking of going into one of his syndication deals, but family is against it since there are no guarantees.

They want me to own something and have complete control over it.

Any thoughts?

Thank you.

I know @Mike Krieg and he is a stand up guy. I would consider investing with his group.

Legally NO sponsor on the planet can give you a guarantee. Even returns you get on bonds are not guaranteed.

Also, while control is nice even if you buy something and rent it out (as an example) you will never have 100% control.

3 Votes

Originally posted by @Luke Carl:

@Omar Khan Your question is missing a ton of info to the point where it doesn't make sense.

Whats the purchase price?

How much cash do you have?

What does it rent for?

I didn't really ask the question, just answered.

Start by telling us those 3

1 Vote

Originally posted by @Rebecca Seidler:

Does anyone buy warehouses? Was researching that area and it appears lucrative. Looking for the real deal though from the BP community.

That depends - how much are you buying them for and where they are located.

No asset is too expensive or too cheap if the fundamentals work.

1 Vote

Originally posted by @Brian Kelly:

Is there a set rate to offer investors on their return. I'm looking at a holiday apartment in Cyprus and would need about 20k, investment cost 50K. What should we be offering an investor? thanks folks. And what percentage from the rental income should they expect?

Short answer: The least possible you can to satisfy their requirements i.e. under promise and over deliver.

2 Votes

Originally posted by @Bar Mor:

Hi all,

As a part of a research I am conducting, I am trying to get my head around some statistics regarding the real estate investment market (specifically syndicated deals with limited partnership and GP and LP relations).

Does anyone know where can I get some information on that subject? Questions like how many operating RE sponsors and funds are there currently working within the US? How many deals and how many investors are participating in these kinds of deals every year? Etc..

Would very appreciate getting some help and information.

Many thanks in advance!

You won't granular details like the # of investors and who is investing in what as folks prefer to not disclose that information but you can get a high level overview by subscribing to services like PreQin. They are a great source of information and are actively used on the institutional side.

0 Votes

Originally posted by @Shondell Alford:

I'm not sure what steps to take trying to acquire a FHA loan to house hack a three or fourplex. Also how long is the process?

Talking to a lender might help. Also, search function on the forums is very helpful as this question has been asked a gazillion times before.

2 Votes

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All Forum Posts by: Omar Khan

Omar Khan has started 11 posts and replied 1427 times.

Post: Best way to write out and present an off market deal

Post: Finding Syndications to Partner With

Post: Multifamily Investments in Killeen, TX

Post: 8 Unit deal - Buy or no buy?

Post: Ashcroft Capital - Multi Family Syndicator - Texas

Post: Investors returns percentage

Post: Are Warehouses Good to Buy

Post: Investors returns percentage

Post: Syndicated deals statistics

Post: The first steps to acquiring a FHA loan?