All Forum Posts by: Rod Khleif

Let me know what you think of the book Greg and thanks for listening. Cheers

Definitely in acquisition mode @Joseph Graeve

That Denver market is cranking @Joseph Graeve. I lived there 30 years. I can't believe how well it's doing up there. I'm not in single family any longer. My focus is multi-family. Sounds like you guys are kicking butt. 

Thank you @Adilah Curry  I used to own 500 houses in Denver. (a lifetime ago) :) 

My favorite question is; "do you own any commercial property?" I like attorneys that are also investors so they understand what we experience. 

Then I would ask if they specialize in a particular sector...Multi-family, retail, office, etc. 

Then of course to tell you about some transactions in multi-family that they have handled recently.

What is their typical deal size? 

Of course, you'll ask how they structure their compensation in a transaction. 

These are the first few I ask before I drill down 

@Brian Story I would recommend you focus on the Net Operating Income NOI instead of the value. All commercial property including multi-family valuation is based upon the NOI. That will help you determine the correct value. As previously stated, tax assessment data is frequently dated but you conversation needs to be about NOI.

no longer own in Denver @Bill S. Sold all of them to buy in Florida

Hey guys,

Excited to be part of this forum. My background is that I've owned over 2000 homes and numerous apartments in Denver, Memphis and Florida. I am no longer buying single family, but absolutely love multi-family real estate and love talking shop.... both one on one and through my podcast on I tunes called Lifetime Cash Flow. Please connect if you like, or are interested in multi-family. Would love to meet you. If you listen to podcasts, please tell me what you think of mine. I'm excited to meet motivated, driven, fun people interested in real estate. 

Rod

Most of my houses were in the 30-50 range. I was just outlining my dissatisfaction with that market in general. Anyone that has or does own residential in Memphis knows what I'm talking about. As you articulated Jay Hinrichs..."that tenant demographic is un manageable for long term growth" . I don't know what it's like to evict tenants there now, but when I had the bulk of my portfolio there if you filed an eviction they could delay things for up to 9 months by filing chapter 13 bankruptcies. It was a cottage industry for BK attorneys. I did not experience problems like those with my Denver or Florida portfolios. Nothing against the people there. Love the food and most people friendly...just not landlord friendly

I owned 200 houses in Memphis and it was the biggest real estate buying mistake I've ever made. It is a rental market unto itself. It's been about 10 years and I still have 5 houses left. I actually bought 1500 square foot 3 bdrm 2 bath homes for $1500 and $3500 and regretted it. Many people have tried the Memphis apartment market and gotten their clocks cleaned. Be careful