All Forum Posts by: Zamir Kazi

Hello all!

I currently invest in multifamily properties and own a portfolio of 107 units. 

We recently came across a retail deal that is a 9.19% cap made an offer and have it under contract.

The tenants are:

• Chapel
• Hertz Rent a Car
• Metro PCS
• Doctors Office
• Carpet/Tile store over 20 years in biz
• Community Outreach

I would like to know what the main differences are between retail and multifamily, pros and cons, and more specifically what things should I look out for in the due diligence phase and in inspections?

It is my understanding it is easier to finance retail these days, as well as easier maintenance.

Would love to hear the opinion of someone experienced in the matter.

Thank you all in advance!!

-Zamir Kazi

@Pancham G. 

Sorry it took so long. I tried out trurent. And for a free software it is not too bad. But for something more robust I don't see it being very useful. I have now jumped up to 107 units and am considering app folio, buildium, rent manager and yardi. 

It just depends on how many units you have. Less than 50 units I can't justify the cost of the ones I just mentioned. 

@Nate Hall@Simon W.

Hey guys I am actually looking for a property management software at the moment.

I am torn between Yardi, Appfolio, Buildium, and Rent Manager.

A friend of mine recommended Yardi.

We have 107 units so we would fall into the Genesis 2 platform. Is this the old platform you are switching from?

Any recommendations on which way to go? They all seem like pretty much the same, but being it is a year commitment I do not want to make a hasty decision.

Thanks for your help!

Any one have any experience with Yardi?

Hey guys,

We just closed on two apartment complexes in the last three months and have gone from 8 units to 107 units in 9 months. All units are self managed. As you could imagine, its getting hard just to keep an excel sheet.

I tried true rent out, was OK but now we are looking for something more proficient. Something where we can input repairs, submit work orders, keep detailed logs of everything every expense. We have hired a full time repairman, and would like to keep track of requests sent, etc. 

Any suggestions?

Thanks!

@Jaime Frausto

I have all my tenants deposit money orders, not cash. I make them go to AMSCOT (its free) write their name on the money order along with their address, and then when they deposit I can view the image online to see who it was. We do NOT accept cash payments.

@Juan Duque Shoot me a message I would be interested depending on the amount.

@Josh Caldwell Yeah that's exactly what happened with us on Loop Net, I am now on Marcus and Millichamp's buyers list, and they have been sending me emails periodically. I haven't tried any small boutiques I will give that a shot.

@Joel Owens Thanks for the advice! Where do I find lists for multifamily? I have used list source for SFR Flips will this work?

Hey guys, 

Our real estate portfolio has grown to 35 doors, all ranging from single townhouses to quadplexes. We would like to find bigger deals for multifamily properties. Into the $5 million and with a 10% cap rate at least. I am OK with C class areas. Does any one have any advice on where to find them? I have tried traditional avenues such as MLS, and Loopnet. I have not directed a direct mail campaign to them. Preferably would like to see deals in Orlando, Tampa, or Miami area.

Thanks