All Forum Posts by: Barry Sanders

meetups, there are events posted here as well as the meetup site. You can also direct message people who you see are in your local area just search for them 

Menu>>network>members>enter desired location

Just people trying to capitalize on market peak. Newcomers will be the true victims

if youre a preferred member with equity but not JV as youre only lending that sounds murky and possibly violate securities laws. If theyre borrowing money from you why wouldnt a personal guarantee suffice? They have to pay you unless they file bankruptcy

bike share program

grocery delivery

trash valet

Decreasing expenses

This is not legal advice but from my understanding in NYC you can charge rent during an eviction as long as youre not evicting for unpaid rent. You must also make sure that you document on the receipts that you are retaining rights to proceed with eviction. As always please consult your attorney  

I have to agree with @Kevin S. if youre getting an overwhelming response you are underpriced.

Consider charging an application fee to weed out the people who are not serious

Have people put down a deposit the day of the showing if they are interested

Ive done the google forms before but i dont think it works well in controlling volume neither did it bring us the tenants we eventually accepted

And definitely agree with @Marcia Maynard
Review your approval criteria, if you can get someone that meets your criteria then I wouldnt bother waiting for the open house. Just be sure they meet the criteria before you schedule the viewing. If you have that great a response you may be able to set higher standards and easily find quality tenants

the only benefit i see to an open house is if you have additional units coming to market and would like to create a waiting list of applicants

@Brian Burke thanks for clarifying. So definitely is a large chunk that requires manual inputs( current and projected rents for each floor plan)  Going with the loss to lease would you recommend underwriting on the annual cash flows vs the monthly? 

Im trying to model out for negative cash flows during rehab phase where vacant units are brought online and occupied units are raised to market on lease renewal to make sure enough reserves are raised to cover these expenses. Would the annual numbers suffice? 

@Scott Morongell thanks for the advice will definitely be conservative. I also underwrite the rents for slightly less than I think is market value

When it comes to building your own models how do you underwrite value add rent increases ie: bringing rents up to market at lease renewal/ bringing down units online

It can be done manually when investing on a small scale but once you get into bigger unit counts it seems inefficient to manually enter the rent roll for each month during reposition and even more complex when there is a diverse unit mix

How you do you model this on your large deals with the goal of accuracy and being conservative? do you use average rent of the occupied units, average rent of all units including vacants, manually enter rent roll monthly

Besides buying ads on the internet (youtube, sites frequented by hnw individuals) thought leadership platform is the way to go. Anything else would be in person country clubs, gyms, small business owners churches and religious institutions charities pretty much any professsional person i meet i discuss investing because if theyre not accreditted they know someone who is

airbnb provides this servicefor free already. Better luck with non airbnb vacation rentals o