All Forum Posts by: Adam Adams

What is the purchase price?

The one thing you're definitely missing is some expenses. You'll probably be operating at a 50%-60% expense ratio. (So your cap rate is showing much higher than it will be) Also I'm worried about the all cash contingency from the seller. (It is common for sellers to request this when they know a lender will not lend on the property.) I would make your first deal a conservative one. Wishing you success! -AAA

Welcome to BP; congrats on your success and your drive for continued success! Too many people lack drive!

I think it's not a good idea. Doesn't sound smart. I advise against it.

Originally posted by @Chris DaSilva:

@Adam Adams thanks for the recommendation :) and I'd love to get there.  Not too many of that size come up or are not listed or in most cases in the shadow market listings which I'm working towards.  

How do you see closing on larger ones easier?  There a method or practice you follow?

The larger buildings are more desirable to lenders, sponsors, passive investors, equity partners, etc. 

The small stuff isn't even on those people's radar.

Looks like a good deal... where is it? Are you selling it? Do you need a capital partner? I'd be interested to talk more.

Do people buy things like this, and call it an "investment"?

Hey Chris DaSilva , I would skip the 15 and go right to 60. I'd love to connect more with you if you're open to it. I think you'll have an easier time closing on a larger one.

I'd look at any of them individually, as long as they are 50+ units each... how do we connect?

What's the occupancy rate? 

My company specializes in buildings with 50+ units and 90% occupancy.