All Forum Posts by: Account Closed

John,

Lease audits are always fun, Sometimes there are no tenants in "occupied" units and visa versa.

but probably the best one was a 225 unit deal in San Antonio that was only permitted for 150 units. The city almost succeed in getting the excess units torn down. 

On second thought, look up the Dallas Museum Tower building in Dallas, the building was to be 12 stories not 21. Additionally the design reflects the sun directly in to the Nassur Museum literally cooking the paintings and art work, Law suits abound...

Search the tool section of BP for Apartment Investment Templates

I came across this and thought it might be of interest to BP multifamily investors. This is from a Newmark study. I have no relationship to them but thought I would share. 

Keep in mind that these cap rates represent institutional investment levels and should be adjusted for smaller projects. 

Try Bill Sladek or Mike Risk both are awsome and they are reasonable. Both come from one of the top real estate law firms in the country and the specialize in real estate and partnerships.

Are you looking to sell off the homes or rent them out. 

I have explored this in great detail in Texas and can give you a lot of feedback  on how to do this regardless of min lot size. The biggest issue is in building restrictions with respect to building size.

PM and I can fill you in.

I am looking for someone to work with in the Dallas area on a project.

Please feel free to PM me.

Thanks

Dennis

What are you trying to do when you say deal structure?

I am looking for someone to work with in the Dallas area on a project.

Please feel free to PM me.

Thanks

Adrian - Congrats, I assume you have some idea of how much debt and down payment you are looking to do. Depending on you ltv and equity, you can focus your financing search on lenders/investors that will meet that criteria. A commercial mortgage broker can be very helpful and they can get you access to lenders across the country so that you can have a very broad range of options to choose from. PM if you need some referrals. 

Todd, you need to compare apples to apples, every lender will have different spreads. What you will hear most often applies to institutional debt  and Agency lending. Banks will almost always be above those and then you credit and property size will impact even more.  Comparing spreads is best for deals over $2M and non recourse.