All Forum Posts by: Gaspare U.
Gaspare U. has started 10 posts and replied 225 times.
Post: Cap-Ex per Unit, per year by Class
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
@Tom Shallcross seems to have the right of it. I'll post this quote but remember the authors are discussing a property that is 200+ units. They are also factoring in a few things that smaller MF would not consider (payroll, advertising, etc)
Post: what's the best way to promote a brand new podcast?
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
You could start with adding a link with your signature. Perhaps invite people with a following to do a call?
Post: Valuing Vacant Properties
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
Actually a very interesting topic. How does one underwrite a property where there is a large percentage of vacancies? If the property is 100 units and 80 are vacant I doubt the value will be CAP x NOI of current status. I also wouldn't pay for the potential, CAP x Pro Forma NOI.
Curious to see what people have paid for highly vacant deals.
Post: Home Warranty services for Commercial / residential property - NJ
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
Check out American Home Shield
Post: 1st Rental Purchase Using Commercial Loan
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
I would look for a longer term, 3 years will fly by. No less than 5 and I would try and compare rates at 5, 7 and 10. I rather lock in the longer terms.
Post: First 21 Unit. Please help us do our due diligence.
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
I can't speak highly enough about The Best Ever Apartment Syndication Book. Even if you are NOT looking to raise money. The details and course of action they lay out is simply brilliant.
Good luck!!
Post: Small Mixed-Use Commercial Opinions
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
I would walk away from any mixed property that has a bar. I agree with what others said being that it is difficult to rent an apartment above a storefront.
Some options I would consider is can the apartments be converted into office space OR have the storefronts rented out to offices. This lets the tennant know that when they come from work they will enjoy a peaceful environment.
Good luck!
Post: MARKETING LISTS/OFF MARKET DEALS
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
Originally posted by @John Barrows:
Be advised, NO COMPANY has "UP TO DATE" information that you'll be paying for unless they are brokers doing the leg work. The COMMERCIAL brokers have bull pens of people, on the phones, sifting this information, updating their "BOOKS OF BUSINESS", and generally combing the city, county and most times, the states for this information.
Dunn & Bradstreet will be happy to tell you they update their information every few months (BS)! These other companies tell you the same (BS). I've done it, I've paid for these CRAP LISTS. I'm going to tell you what I did that made me millions in COMMERCIAL REAL ESTATE for just $4,995.00 today. I think my point has been made.
Go to the title companies get the information, open a blank book, get on the phones and start calling. I would also suggest you may want to look at specific area's of interest, drive the area's, take note of what the area looks, what the building looks like, be able to explain to the owner what their building looks like and then, start calling. You need to sound like you know what you're talking about or you'll be DOA along with your reputation.
Bottom line, I've not ever found any company that will get me into the sellers of a large apartment complex unless you know what you're talking about and you better have a buyer in your pocket. This may sound discouraging to you but, the truth is the truth.
Good luck my friend, I only wish you huge success.
That's some great advice right there! That is exactly what I read in Best Ever Apart.. Syndication book and that is EXACTLY what I am looking to do!
Post: Return on Investment on an apartment rehab
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
If an under market apartment became vacant and needed $10,000 in renovations what sort of rental increase would you expect?
I understand the limit is really set by the area’s market, I’m just wondering what investors would expect.
Thanks in advance!
Post: SEAN RICHWAY CFRE INVESTMENT FLIPS INFINITY CAPITAL FINANCE
- Rental Property Investor
- Cranford, NJ
- Posts 245
- Votes 148
This is a fear most people have. What precautions can an investor take to make sure that a Syndicator/GP doesn’t have the power to just see a property and keep all the profits, or doesn’t take the upfront investments and never buys the property.
Reverse, what steps can a Syndicator implement to assure their investors that they couldn’t do this even if they want?
Thanks!