All Forum Posts by: Marc C.

Nothing to fear from syndication. This attorney will do the PPM for $2750, including a subscription agreement, plus $300 for the operating agreement. www.RegDResources.com will do a fancy-looking one for $5500. You still need a Business Plan. There is great training out there on syndications. Try Value Hound Academy. 

Seriously...no private money lenders here who can help in the topic Private Lending Advice?

Hello Experienced Private Lenders: 

I am in the process of putting together my first private money investment: Loaning $90,000 to a couple from my Mastermind group for a fix-and-flip for 6 mos. When I have borrowed privately before, I just used the appropriate Fannie Mae note and mortgage forms for my state. Can I use those for this purpose as well? Are there any fix-and-flip particular clauses I should add? 

Thanks in advance, 

Marc C

Hi, Folks. 

My local Realtor Assn. has a property disclosure form for residential properties (very thorough) and another for commercial properties (not so thorough). When buying a 5+ unit building, I WISH I could get the seller to use the residential disclosure since multifamily is residential, but it's also commercial. But Sellers typically balk if I try that. 

Wondering if anyone here has a thorough and complete seller's disclosure they use specifically for multifamily commercial properties that they wouldn't mind selling. 

Here's an example of what Colorado uses for "all types of properties," and it's not bad, but it sure would be nice to see something multifamily specific. 

Marc

Well, sorry to say, the speaker asked to postpone her talk for a month, to our April 14 meeting. If you've already signed up for the March 10 meeting, you don't need to do anything but show up on April 14. If you hadn't signed up for the March 10 meeting, you still need to go to the link in the original post to RSVP and pay your $10 donation for the April 14 meeting. 

Meanwhile, many of us who were going to be at the March 10 meeting will still be there if you'd like a chance to network or talk about your "haves and wants" at no charge: 8:00 AM at Wecks Restaurant, 4500 Osuna Rd., Albuquerque. 

Dear Current and Future Multifamily Owners:

The next Apartment Investor Breakfast Club meeting is April 14. Speaking will be Esther Romero of the Albuquerque Housing Authority. (Esther was scheduled for our March 10 meeting but asked for a postponement.) She will school us on the demand and requirements for accepting Section 8 tenants.

The fun begins at 7:45am for a quick bit of networking and time to order our food. The speaker usually starts at just after 8:00 and speaks for 45 min. or so. The goal is to be wrapping up by 9:30. So far, we've had an apartment broker, major property manager, and a major multifamily lender speak, plus I've given a couple of presentations myself.

Here's the kicker: If you want to come, you have to RSVP and pay the $10 donation through our Meetup group. The proceeds go to the speaker's choice of charities. Please don't bring us cash. Here's the address: https://www.meetup.com/Apartment-Investor-Breakfas...

We look forward to seeing you there!

Dear Current and Future Multifamily Owners: 

The next Apartment Investor Breakfast Club meeting is March 10. Speaking will be Esther Romero of the Albuquerque Housing Authority. She will school us on the demand and requirements for accepting Section 8 tenants. 

The fun begins at 7:45am for a quick bit of networking and time to order our food. The speaker usually starts at just after 8:00 and speaks for 45 min. or so. The goal is to be wrapping up by 9:30. So far, we've had an apartment broker, major property manager, and a major multifamily lender speak, plus I've given a couple of presentations myself. 

Here's the kicker: If you want to come, you have to RSVP and pay the $10 donation through our Meetup group. The proceeds go to the speaker's choice of charities. Please don't bring us cash. Here's the address: https://www.meetup.com/Apartment-Investor-Breakfas...

We look forward to seeing you there!   

Isn't it a market like DEN, LAX, SAN, SFO, PDX, SEA...fully priced at 5% cap rates? What's the point? 

Check out less popular markets. 

Repetitive. You have a lot of learning to do. There are lists of books on apartment buying to buy on Amazon listed about two weeks ago in this forum. And lists of podcasts to listen to. 

Yes, a residential agent should be able to search the MLS for these. You can too, on Realtor.com, etc.

You don't say who pays most utilities. But how does it look with some basic rules: 45% expenses (55% if you pay electricity and gas), current rents (not future). 

Asking: $700,000

Rents: $4800 x 12 = $57,600

Expenses: 50% of $57,600 = $28,800

NOI: $57,600 - $28,800 = $28,800

$28,800 / $700,000 = 4.1% cap rate

$28,800 / .075 = $384,000 based on 7.5% cap rate

As you can see, you've already wasted enough time on this "deal." Move on.