All Forum Posts by: Bonnie Staples

Hi @Corderos SMith,  You just missed the best MF training event available - which took place last weekend in DFW/Addison.  This event fortunately is put on 3 times per year - the next one will be in March 2017 - Please see my page and Market Place for more info -- If you want to truly learn how to be successful in MF - I strongly encourage you attend.  

I wish you all the best - you are certainly looking in the right direction with your interest in MF.

I hope you will find this helpful!!

Congratulations Ted!! I look forward to seeing you close this deal!! 

I would like to extend an Invitation for You to attend a MUST ATTEND Weekend Apartment Training "Rat-Race 2 Retirement" THIS WEEKEND, November 5th & 6th at the Addison Conference Center. You definitely want to be there!!!

My husband, Kerry & I attended this event 2 years ago. We had Zero experience and NOW because of this training, we are owners in 14 Apartment complexes which represent 2000 units/doors. Obviously THIS WEEKEND CHANGED OUR LIVES!!

This is the REAL DEAL training, and so many of you are in BP to learn, well, YOU WILL LEARN MORE ABOUT APARTMENT INVESTING AT THIS WEEKEND TRAINING THAN ANYWHERE ELSE...GUARANTEED! In order to confirm your attendance you will need to RSVP and complete the Self-Registration Process! I strongly encourage you to Come With A Guest - a spouse, family member or business partner, or someone you care about enough to enable them to learn what you will be learning...

All Guest must register individually at  http://www.bradsumrok.com/Rat_Race_2_Retirement.html?cmp=The_Staples­  - General Admission for 2 days of Training Price includes, Lunch + Bus Tour =only $97!!!!! Be sure to list Kerry or Bonnie Staples as your referral.

THIS IS A MUST ATTEND EVENT!!!

We did it & YOU CAN TOO!!

See you all there - Come by and say Hi to us!!

Bonnie & Kerry "The Staples"

Hi @Brian Keeler - We write the LOI's in our "individual names &/or Assigns" or if you have created an Asset Management Company - You could do that too " AM Company &/or Assigns" and then - flip it over to your newly created LLC at closing. Unlike @Jeff Greenberg we use a new & Separate LLC for each property.  We also wait until under contract before we create the new LLC - saving you expenses in case your LOI is not accepted. 

I hope you have found helpful!! Best wishes to you on your LOI!!

Hi @Saran Mandhadapu - The best loan for you is based on what your objectives are and what your exit strategy is.  If you have a good Lender/Mortgage Broker - they can help you choose the right loan that fits your property, your business model & your exit strategy. 

I hope you find this helpful!! 

Best to you!! 

Hi @Daniel J. - We have found that using a Property Management company is best when you are over 50+ units.  The reason is the price for the service can eat up most of your profits on a smaller property - and 50+ has been the point when we have found it to be cost effective to higher PM.  Although you pay for a PM they many times can save you money as well, as they have experience and they have ways of cutting costs as well as increasing income. Plus many of them have relationships with vendors that can save you money in the long run vs you going out and finding a vendor yourself.  I hope you find this helpful!! 

Hi @Saran Mandhadapu - also be sure to ask about "pre-payment penalties" or "Yield Maintenance fees" as this can be a Big cost depending on your exit strategy.  

@Cyprian Sadlon - Also if you have an Agent/Mentor that has access to Co-Star and are willing to share historical Cap Rates for that submarket - that can be extremely helpful as well.

Best to you!!

@Cyprian Sadlon It is certainly NOT an "unintelligent" question. It is a very tricky one - I have found that the best resource is if you #1 have a Real Estate Mentor that has YOUR best interest at heart -  -- So with that, I would certainly not rely on a Selling Agents opinion, as they are usually working for the Seller.  If you don't have a RE Mentor the next best thing is to check with a lender.  It is always good to start a relationship with a lender / Mortgage Broker prior to identifying a property as they can give you some great guidance on many of your questions and help you solidify your plan of action.  

I hope you found this info helpful!!

Bonnie

@Ray Harrell - Hi Ray,   There may be other options out there - I just have not found that to be so.  We have closed 14 Commercial Apartment Loans - and each one required 20-25% down.  I wish you all the best in your hunt.  Should you ever come to the Dallas area please be sure to look us up.