All Forum Posts by: Aaron Lawson

@Brandon Sturgill Thanks for the recommendation!

Thanks all for the advice!

Hey all, hope you're doing well!  I have an apt bldg. challenge and looking for opinions from others, here is the scenario

1) Back of property (6 unit multi) usually gets hit with neighborhood trash dumpers (mattresses, couches) once or twice a year, costing me between $500-$1000/yr in cleanup fees

2) Primary goal, reduce maintenance costs.

3) Secondary goal, improve the general look for the neighborhood

4) I could spend thousands and still get hit b/c the neighborhood has built the habit of hitting my property over the years.

Question: Would you build something up here in hopes of reducing the likelihood of dumping, or just keep cap cost down and hope for the best?

(Mine is the property on the left, another owner to the right...)

Hi all,

I'm looking for feedback from experienced multifamily managers and renovators. What are the key metrics and measurements that I should be using in my analysis to determine my 'go or no-go' decision on performing a remodel? I am about to start a very in depth analysis the costs and revenue/turnover improvements, and I want to get confidence on what I am solving for.

• I know this is entirely vague, and I can list more info on the property (6 unit bldg in Omaha), but what are the primary criteria you use to determine if the money invested is better spent on the improvements, or better spent acquiring other property?

Thanks in advance

Hello All!

I would like to get opinions from other BP types on side income & networking opportunity that I've stumbled into.

I'm an active REI investor in Southern CA with a day job in the electrical industry; I've been actively employed for over 25 yrs, and I plan to replace my W2 income with rental income over the next five years. It has been often suggested here and elsewhere to pursue something that keeps a toe in the water of the working world, as it limits the downside risks, and could turn into a fruitful enterprise for post-retirement.

At the request of a friend and BP associate, I've been asked to provide expert opinion and electrical analysis on residential properties that are either on the market, or recently sold through his brokerage, as there are many customers who want a deeper look at their electrical system, deeper than what a typical home inspector will do, but they are not ready to ask a contractor to come out and simply give a blank check to 'fix whatever's wrong' (famous last words). I may be asked to do 10-20 of these a year.

Now I have a lot of questions myself.

I welcome any incoming advice on where trouble/risk might come from in this. But more importantly, does anyone see this as a good idea in general? Any thoughts on how to navigate the risk?

Much thanks,

Aaron

David Allen, GTD.  No contest. I thought I was listening in for Real Estate advice, and it changed my whole approach to pursuing life goals. If you haven't listened to it, I highly recommend it. BP Podcast # 117.

@Henri Meli Thanks for the feedback,

Re: Street view, it will only give a visual. I'll be playing around with the County website to try to find the MF codes as you have suggested. I'll probably do a lot of street view driving anyway just to become more intimately familiar with neighborhoods; as a remote investor, it's a big help when I can't drive through town myself on a regular basis.

Re: Credibility, agreed. This is why I am trying to find a local agent or agency who is willing to work with me on it.

Do you have a similar approach for  trying  to find off market opportunities?

Aaron

There needs to be real clarity on what both of you stand to gain from the joint effort.

What reason does your friend give for wanting to partner?

Hi All, looking for feedback from active investors or agents who work systematically based on neighborhood or zip code.

What is your process?

I'm an out-of-state investor with a few units, looking to grow in the next 4 yrs, and I'm hoping to find an agent, or some full time RE professional(s) to work with me on this in a specific market. (Omaha, NE)

I want to work through a specific part of town block by block, and I want to find some assistance in portions of the 5 steps below, and help maintaining a master of results:

1) Finding leads (Driving for dollars via google street view, craigslist for rent, listsource, MLS, other)

2) Evaluating Leads (Filtering and storing, does it match my criteria?)

3) Due Diligence (Local help in evaluating zoning requirements, quality of neighborhood)

4) Contacting Owners (Filtering owners who are interesting in hearing an offer)

5) Making Offers (May be making 10-20 offers a month, low yield)

Is it likely that I will find skilled agents or professionals who will put in the work with me? 

From those who already successful, do I have the right steps listed above?

Hi all,

How do you 'ballpark' evaluate your insurance costs on multifamily to determine if you are getting a decent market price? Is it simply looking at the ratio of insured value-to-annual premium? Is there any sq ft or other basis for comparison that you use? 

Thanks in advance,

Aaron