All Forum Posts by: Rebecca Stuelpnagel

Investment Info:

Large multi-family (5+ units) commercial investment investment in Red Oak.

Contributors:
Bryan Ayres

This was a 48 unit multifamily deal in Texas.

What made you interested in investing in this type of deal?

This property is located on 10.6 Acres of Land which we can subdivide into two parcels without affecting the value of the property.

How did you find this deal and how did you negotiate it?

This property was found via a broker connection. We were able to negotiate a small seller carry to help with the downpayment.

How did you finance this deal?

We did a bridge loan for this property and had a small seller carry note on a 2 year term.

How did you add value to the deal?

We are rehabbing the units and splitting the parcel into two so that we can add self storage or additional units in the future.

 Dustin P am I on your email list for flips?

Hey Bigger Pockets Family!  We are getting bids to replace our fence around the pool and a gate in our Apartment Complex in Texas.  The bid for just the Gate Opener with key cards was $15,000.  Any advise on where to find a more economical, but safe pool gate system.  Thanks in advance.

I started as a Certified Appraiser 19 years ago, then a Realtor and we started flipping houses. Now we are involved with larger apartment syndications.  I agree with Austin, most realtors take 8 - 12 months to get their first deals closed, but if you are wanting to flip, it is a natural choice and will save you a lot of money.  Get to know all of the wholesalers in your market area for off market deals.  In real estate you must be constantly adapting to the change with the market.  You will be constantly learning if you are active in real estate, so becoming a Realtor would give you a great start to your education.

Yes, If we can use them within 6-9 months.   I am all about saving our investors money when it comes to multifamily apartments because the costs add up quickly.   Last November I purchased the larger $99 patio umbrellas for two properties for $17 each (clearance time) and some really nice wicker patio chairs from At Home for 75% off.  We also purchase the vinyl plank flooring by the case which is 10 pallets at a time to get a lower price. 

Has anyone heard about joining Secret Knock?  Good, Bad, or Otherwise?  I'm just looking for feedback.  Thanks

I would recommend to start as a passive investor on a deal and ask them if you can "shadow" them and learn about the business.  Like everyone said, education is key.  Invest in yourself first with the education and training and you will go far in the industry

We live in a state with a lot of medical marijuana use and there are a lot of alternatives like edibles that do not stink up the place.  I would stick to your policy of no smoking in the buildings and have the tenant report it to the police every time she smells it so you take yourself out of the middle.

I also like the advise of the "Happy clause" for the tenant complaining because you can not make everyone happy, but at the same time, the next person moving in will have to deal with it too.

Yes, file a claim with the city to get reimbursed.  We had a garbage truck back into a security gate on one of our properties and the city is paying to get it repaired, just save all of your documentation.

As far as the other question, you will have to weigh the opportunity costs of time and headaches VS the higher profit potential of a Class C property.

I agree, not all felonies are created equal, but having said that the fact that his second one was 5 years ago makes you wonder what it was for and how many times he did not get caught.

If it was me, I would hard pass, just to sleep better at night