All Forum Posts by: Adam Lacey

@Isaiah Miller education and networking are the foundations you should focus on for now. Once you're knowledgeable enough about the space (and maybe you already are), finding and experienced investor to partner with of at least provide mentorship is key.

Books: Joe Fairless and Theo Hicks Best Ever Apartment Syndication Book; David Lindahl's book.

Poscast: Diary of an Apartment Investor with Brian Briscoe will give you the most value from an educational perspective.

Hit me up if you have any more specific questions.

@Darryl Griffin-Simmons also Craigslist or apartments.com are going to give you better info than rentometer. Just pretend you're a potential tenant. What platforms would you use to search, how does this property compare to options in the area? Look at size, beds, baths, finishes, amenities...etc.

@Darryl Griffin-Simmons Capex seems high. Is that $800/month? Would think $2,000-3,000/year would be sufficient. Is there a chance you can self manage to cut that expense?

@Ericka G. Still a great view!! I dont think would be a deal breaker for me. Especially if its a personal residence and not a pure investment property.

Thanks for the responses @Bob Solak and @Evan Polaski. I actually do currently use a modified version of the ACRE model and am modeling it as a second loan, which I do think works pretty well. I do feel like that set up has some limitations. I might just have to keep tweaking the one I have! Thanks again for the responses.

Does anybody have an underwriting model that they're willing to share that is setup to handle multiple LP classes?

Ex Class A: 10% pref, no upside beyond that (1st priority after debt service) and Class B: 8% pref with 80/20 split after that.

I've modified the model that I typically use to handle it, but don't love all the mods I've had to make. Still needs work too.

Thanks!

Thanks @Drew Sygit for your responses. @Kyle Eckert - I'll reach out to get more info. I appreciate the help.

Hello, I'm looking for property management recommendations for a 48-unit in St. Louis. Any help would be greatly appreciated.

Thanks!

Adam

@Chase Keller - congrats on the deal! I would love to see the script from your mailer if you don't mind sharing.

@Chase Banta I would start with all the community banks in the area. Or possibly go to Fannie/Freddie if it's stabilized. Janover Ventures might be able to help you lock down the right product.