All Forum Posts by: Scott Morongell

@Sandy G. congrats on your portfolio and scaling up. My suggestion is to look outside of NJ. The laws here (i currently live in NJ) do not favor landlords. Pick a market that you can easily get to and know someone in. They can help with gentrifying areas and where to stay out of. Willing to connect more on it if you'd like.

 Love it. Couldn't agree more. That's exactly why I continue to focus on large multi's.

Solid post. A lot of "value add" deals right now are not exactly what investors think they are. 

@Danny Randazzo excellent post and appreciate the honestly. What other asset types were you looking at and why did you decide to move forward with multifamily? I am personally only in multifamily but I think many can benefit from your approach on only choosing MF over some other asset types. 

@John Acklen each market carries its own vacancy rate. A good PM company will raise rents and keep your vacancy lower than the market average. 

@Ben Leybovich congrats on this deal. Have seen you guys do a few FB lives while walking through turned units. Looking forward to keeping up with your project and seeing it go full cycle. 

@Peter Pratti congrats man! What was the hardest part? What is your biggest takeaway? 

@Alex Tobias Like Sam mentioned, you really only need a cap for your exit. All large brokerages have caps if you need them. What you really want to see if where you can add value on the deal. Once you add value and stabilize a deal your cap rate is going to change.

@Darren Mesibov I don't think you need a business plan. I think you could make an investor deck. This would be practical if your syndicating deals. Put something together on your team, your plan during the hold period, and even roughly what returns could look like or what your aiming to achieve. This would be great to leave with a potential investor and further your relationship with them after they look through it. 

@Brandon Rodriguez absolutely add some lighting. I'd go with Mary's technique