All Forum Posts by: Tod R.

Sounds like you have a really good building to work with. I like the potential of creating a duplex and a vacant lot from just a vacant building on .6 acres.

What's up with 8 different lots on .61 acres? You will have to have it resurveyed to establish boundary lines and legal descriptions for each lot.

Hey Brandi, if you create a duplex to sell separately, you will have to subdivide the property which could take a few months(assuming its currently one platted lot). If you're in the city limits or etj, they are going to inspect your rehab, require you to go through city council for approval of subdivision. If all this is the case, this is significant cost and time.

Gotta like the intensity!

Derek, I agree that no one cannot do this on their own. You need a trusted mentor. Success isn't always self-taught! It sounds like this group has a successful track record.

Be sure to keep all of us updated with your program. As a member of BP, you will be able to supplement your training with input from other members who will give good and honest opinion and advice. I can guaranty you will be able to bring new ideas to many of us here, as well as create good debate.

Good Luck in 2012!

There are in fact many stories here on BP of bad results with PMs. All of which are intended for us to learn from and make us better/more profitable investors. That being said, a quality PM can be an important member of your team. After all, REI is a team sport!

The company I am with created its own management group with the intention to manage our own commercial investments, as only we could. We became very good at this. So much so, that we have now started managing other non-owned properties owned by several of our partners, as well as a few third party properties. Now we are an important team member of other property owners.

As a Cowboys fan, I tried to hate Manning, Coughlin and the gang but I can't. They seem like a pretty good group of guys coming together to turn their season around. Now having said that, I don't think Brady will allow his team to lose to NY in the Super Bowl again. He is capable of raising his play to a whole 'nuther level.

I think it will come down to NY def line getting to Brady. We already know Manning can take a pounding.

My initial thought on a number was $50. As long as you are complying with your lease, you technically owe nothing. That being said, I agree that you should work with a good tenant.

I agree with Bryan Hancock. Banks do not like renewals as much as new loans. I guess they are viewed/maybe treated differently on their books. It could be that this bank has enough RE loans and are not renewing maturing loans. If you have a lot of equity and good credit, another bank doing RE loans will be glad to refi for you.

Way to go Daniel!

Keep us posted as to your rehab and leasing.

Hi Lara, welcome to BP.

You can always ask questions in the forums, but you can also use the search function in the upper right hand corner. Type in key words you are looking for, then select Forums and hit search. You'll find a lot threads about analyzing multifamily.

This a great site to get educated.

In addition to the above, valuing properties based on cap rates is an important tool. There are so many components that go into these calculations that the "devil is always in the detail".

I use Excel for all of our analyses.

Kumar, rather than taking a chance with a turnkey property from a group that does not have the same profit motive that you would, I would find a trusted investor who is knowledgeable and experienced in one of your preferred markets to partner with. You both would benefit to pay the least amount possible as well as maximizing the profit.