All Forum Posts by: Percy N.

First, make sure there is demand in an area with a population of 7,000. If there is, great!

What does your underwriting show? How much cash flow is there to cover the pref? What happens to the remainder? Is it split pari-passu, in which case you may get some cashflow?

How is the additional construction being funded? 

A typical syndicator does not get a 50/50 split, so the promote splits seem to be in your favor, even if you were to factor in the typical fees.

@Justin Eaton the path you are on is a fairly common one.

One piece of advice would be to make sure you have a solid plan for ongoing operations of a 10-20 unit.

Are you planning to manage it yourself or have a property manager? Marketing plan? Anticipated vacancy, etc. 

Who will handle maintenance calls? Will client expect onsite maintenance and someone in a "leasing office"? You typically need 75-100 units to be able to afford onsite personnel.

If possible, go for what allows you to have onsite staff. Partner with a larger operator and don't be afraid to look outside your backyard provided you have a good team in place.

Cheers

Percy

@Jack Yen installing individual meters might be expensive. Look into RUBS which will allow you to chargeback a certain percentage even with a single master meter. Check your state's rules on how much can be charged back (generally around 75%)

@Mehul Mehta, @Azam Khan - one observation is that you should not be limiting your focus strictly on single family.

Have you thought about getting the economies of scale and investing in multifamily (apartments) via a syndication? You dont need to worry about the loan or have a "team" (other than a good sponsor group). Plus your returns may typically be higher.

We were actually in Dubai and Abu Dhabi a few days ago meeting with investors who are adopting this strategy. If you are interested in learming more, please feel free to DM me.

@Sean Brady see if there is a sign with the name of the asset manager or person who is responsible for physically visiting the property occasionally.

From there you may be able to get to the banks asset manager. They may be able to give you an idea of when the property may get listed. In our area it can take about a year from the foreclosure date when the bank gets possession.

Good luck!

@Matteo Carrieri, @Morgan Nilsen, Penn Capital is a US firm specializing in multifamily (apartments) and  we are currently in Dubai (29 June to 3 July 2019), meeting with investors about a current opportunity as well as future ones.

Happy to meet for a coffee and chat with any investor and answer questions they may have about investing in the US.

Cheers

Percy

Economic stats look good.

Check out http://www.aanahq.org/resources/Documents/HuntsvilleMarketReview2018.pdf

That's why we are buying 458 units in Huntsville.

@Brice Buryanek what type of property are you looking for?

We have a 458 unit property about to close in a great location in Huntsville.

Have a few slots for accredited investors looking for passive income. PM me if there is interest in learning more about it.

Who is looking for invests in Huntsville Multifamily?

We will be closing on a 458 unit opportunity in a great location soon and may have a few spots for accredited investors.

PM me if interested in learning more.

@Tiffany Buoni, yes Harleysville Savings Bank. 

You can also try First Trust Bank or Univest.