All Forum Posts by: Taylor Santoro

@Aaron Mazzrillo what’s the biggest deal you’ve done? Total units wise.

Does anyone have any good recommendation for books that speak in debt about the development process from start to finish?

@Zachary Gilula buy for cash flow hope for appreciation is my rule of thumb.

@Vierra Wong I’d have a clause in there that the rent resets after year 2 once Covid is over and things go back to normal. You don’t want to get stuck with a below marker rent. It will hurt your property value if it’s under a long term lease.

@Brian Ellis good luck man

@Jason Ma

I’m with you man. Been following up with the same people for over a year. Thinking I need to cast a wider net. I’ve met with a few owners off market, but haven’t been able to close a deal yet.

@Patrick Sears

You have to understand that whenever you see a property with a low cap rate it usually means that it is a value add property. Meaning that if you do the necessary upgrades your year two implied cap rate upon stabilization will be much higher.

@Raymond Vail

Ray,

I grew up in Atlantic City and I will tell you that this isn’t an area that is going to turn around. The government in the city is incompetent and has done close to nothing to improve this city. You are also going to have a difficult time finding quality tenants. Your best chance in the city is to find a property that you can Airbnb. I own one property on the water in this city and was able to increase my PGI from $16,000 to $44,000 by using Airbnb. The summer months bring in a ton of tourism. That’s your best bet if you want to invest in the city. Year round rentals are challenging.