All Forum Posts by: Percy N.

We were shopping for appliances for a 124 unit property in Houston.

We decided not to go with "stainless" (really silver and black) due to the price and potential care issues and the market does not have a premium for these.

We got a black appliance package for under $1100.

Personally, I would stay away from refrigerators with ice makers as they cause more maintenance issues in the long run.

@Mario Ciccarelli, there are a number of lenders and smaller portfolio banks who will lend in this space.

Depending on the amount, you may also want to look into a Small Balance loan.

My suggestion is to attend some of the meetups in the area. I run a commercial RE one in the Philly area and there are others I can recommend who focus on multi-family, etc.

When we buy apartment complexes, we look for population of at least 75k - 100k and strong job growth.

What happens if you cannot find the right buyer in the timeframe you want? What are your holding costs?

Rural land is cheap - for a reason.

Appreciate your kind words.

@Wiley Strahan check Meetup.com for in-person events near you. 

I know LA has quite a few Multi-Family focused groups.

Some of these may be "guru" classes or trying to pitch something, but you may still get good networking out of them.

@Willis Chur , as others have mentioned, education and diversification are going to be key.

So what investments should one consider? 

The answer to this simple question is multifaceted - I shared my own experience and thought process in a blog post at https://www.biggerpockets.com/blogs/10305/67660-fi...

@Stephen D. ,

    How many units are you seeking? 

How old is the complex?

Is it in a great location?

How does it compare to the other apartment complexes in the area?

Have you looked at the T12? Expense ratio, etc?

If it is a large complex (above 50-75), you will most likely need to partner with a more experienced player who can bring some capital and experience to the table.

You may be able to get some cash and a small percentage of the sponsorship in exchange for being the eyes and ears on the ground. If you have construction knowledge, that may be a plus for a value-add deal.

Without any capital or experience, it is going to be hard to lock up a property, so my advice is to partner with someone.

We do this occasionally with talented individuals who want to add value to the sponsorship.

@Craig Schneider my business partner had previously owned and managed properties in Delaware.

Not sure there are many additional tax benefits for RE investors, but please do share if you have that info.

App for managing how many units?

What are the features that are must haves?

Hi,

   Does anyone have a recommendation for a multifamily General Contractor who can provide a quote on capex items for a 107 unit apartment complex in Pensacola, FL?

Items we need them to inspect and provide quotes on include roofs, HVAC, pool area, landscaping, irrigation, look at building structure, look at the foundation, etc.

Thanks in advance.