All Forum Posts by: Andrew Campbell

@Sherwin Gonzales  really appreciate the kind words, and glad you enjoyed the Life By Design article.  I enjoy writing and giving back as much as I can, and hope we can cross paths in the near future!

@Aziz Raji  Thanks!

@Anthony Gayden - Thanks!  We are planning to update the exterior and amenities, and renovate the interiors to bring rents up to market.  When we takeover, we come out with the new name immediately so alleviate confusion for everyone--new ownership/management AND and new name all at once.  Should be done with the exterior work within the next six months. 

We closed on a 253-unit apartment yesterday. As we always do, wanted to share our learnings and takeaways with the community in hopes of inspiring and educating.  The two big takeaways were 1) Relationships Rule and 2) Creativity is Key

Read the full article on BP here.  

We are in the process of rehabbing a 192-unit in San Antonio and are happy with our GC.  PM me if you are still looking for referrals. Good luck!

We are in the middle of a rehab on a 192-unit project in San Antonio and been very happy with our GC--but the scope is pretty big.  What is your scope? 

@Fabian Kulynych  Each and every deal can be structured uniquely--one thing I love about the business.  We typically offer a Preferred Return to our investors, which gets good feedback and is attractive to investors. I know people that don't offer a Pref and do really well.  @Account Closed's advice is great.  I might also have a few options to present to your close group of investors as you get going--see what they are comfortable with. 

Good Luck!

Congrats!

Yes, go introduce yourself and make sure you walk the tenant you are keeping through their lease. I would echo what @Henri Meli said and also lay down your "rules" and expectations. I used to do this with a separate printed sheet--including how you want them to pay rent, highlighting key phrases from the lease you want to reinforce, late fee policies, how you want them to contact you (maybe via text/Google voice vs knocking on your door) etc.  

The air filter change is key!  If the property is in Tucson like you, A/C maintenance & repair will likely be your biggest expense.  Changing the filters 1/x month in the summer is key to keep them performing--and allows you to get inside the unit. 

Good luck & welcome to the party!

@Omar Khan is right.  You've got to stick to your guns, know your number and not get frustrated if you don't get a deal.  Frustration is an emotion and the best investors don't get emotional. 

Stay patient and level-headed and you can find deals some deals now, and many deals when things start to cycle. 

@Jim Cran  Your experience is like mine--and most others in this thread and on the board.  Just adding another vote towards going for bigger properties.  We opted to get into much larger deals (went from fourplexes to 200-units) but just know you can do it, whether you opt for 20-units or 200--units.  I think you'll see the efficiencies and economies of scale right away. 

Good luck!