All Forum Posts by: Anthony Fontana

@Victoria S. I would spend a lot of time understanding the multifamily model, books and the podcasts are good resources.

I would also spend an equal amount of time learning how to underwrite MF assets. Underwriting is impossible to learn without practice. I would start by going on Udemy.com and looking at Justin Kivel's classes. they are extremely good and cover a lot of the nuances of underwriting. You can also look into buying a syndication model from somebody like Michael Blank or Neal Bawa. 

I hope this helps!

For those that do not feel comfortable enough with excel to build out a tool on your own, I would suggest starting by taking excel courses focused on dynamic real estate modeling. I have taken multiple courses on Udemy.com revolving around this topic. Look up the courses taught by Justin Kivel, specifically the Pro forma modeling course and the real estate financial modeling boot camp. Between the resources that you build on these courses and MIchael Blank's tool, I am more than capable of underwriting deals very efficiently.

When underwriting a commercial property, what is an example of bad debt and what is an example of credit loss (how does this differ from vacancy loss)?

Thanks

ARV stands for "after repair value"

@Najat F Kessler where is the property located? If bank financing is involved you have 2 options. 1 is to demand that the seller bring their price down to the appraised value (which I would recommend). 2 would be to bring cash to cover the difference between the appraised value and the sale price (seems like that could be close to 50k extra).

My advice would be to stick to mindset of "make money when you buy, not when you sell". Therefore, you should always try to buy property below the appraised value, rather than above. 

@Matt Devincenzo thank you for the input. The duplex is already built and sitting on the land. I am not looking to develop. Looks like I will have to reach out to zoning and planning. Thanks!

This project is taking place is Covington, GA. 30 Miles outside of Atlanta

Has anybody had any luck rezoning a single family into a duplex. I just acquired a "duplex" from a wholesaler and ended up realizing that the property is not zoned for the building that we acquired. Long story short, we have to rezone the "single family" to a duplex. Does anybody have any experience doing this? I know if varies from town to town, but looking for advice.

under 5% the property is held by my LLC