Investor · North Richland Hills, TX · Member since 2013 · 1k+ posts · 1k+ votes
Hello BP,
I recently analyzed a couple of apartment deals and asked two PM companies to estimate expenses on these properties. The numbers were different, of course, so here is the question:
If I use a higher number in my proforma I arrive to a lower offer price, have lesser chance of getting my offer accepted, but then I have a choice of two PMs and potential savings on expenses by selecting a cheaper PM.
If I use a lower expense estimate, I can increase the offer and have a higher chance of winning a deal, but then I only have one PM to work with.
Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
10y
Is one of the PM companies Wehner MF? Seriously, they seem to be killing it in the DFW market, and I was impressed w/ the due diligence they performed in short order on a bid I recently made on a 175 unit complex. I'm likely to hire them when/if I sponsor a deal.