All Forum Posts by: Bruce Petersen

@Jimmy Wen

If you do have an LLC you are not allowed to co-mingle personal and business funds, that and it's just a bad idea and makes it really hard to get a clear picture of how each of your individual properties are performing.

At one property it's easy to keep it straight but not if you plan to have multiple. You must set the ground work and processes now for scale or you will have mucho problems down the road. Treat it as a business and not a hobby if you plan to grow this.

@Jeff Greenberg

The controlling GP would not have had the opportunity to execute the refi without your friend as there would have no deal to begin with. Controlling GP is nowhere without your friend.

Sounds like controlling GP is unsophisticated and has forgotten the big picture value your friend brought to this deal.

@Yonah Weiss, thanks for the mention but my meetup is in Austin.

@Charlotte Chew, please message me if interested, I apparently can not post anything about it here.

@Jeff Quinlan

How much time is left on the existing contract? You typically won't be able to get out of it unless you can get them for default or something similar.

Be very sure you do know your renewal window as many if not most auto renew unless you give written notice. It is not uncommon to have 30-90 day window. If you forget you are likely stuck for another full term.

@David Savoy

If you're looking for MF feel free to message me, I can get you the info for the meetup my wife and I run in Austin.

This month we will dive into Multifamily Valuation. We will show how to properly value a multifamily asset, explain what a CAP rate is and the way it and leverage can work wonders on your value creation.

We will be giving real life examples of some of the things we have done in the past to add profitability and thus value to the deal

*******************************************************************************************************************************************************************

This is an agnostic meet-up meaning there will be no pitching, selling or recommending of anyone's educational platform or group. This is to be a safe place to learn and network and not be hounded , pitched to or spammed, thank you.

This month we will dive into Multifamily Valuation. We will show how to properly value a multifamily asset, explain what a CAP rate is and the way it and leverage can work wonders on your value creation.

We will be giving real life examples of some of the things we have done in the past to add profitability and thus value to the deal

*******************************************************************************************************************************************************************

This is an agnostic meet-up meaning there will be no pitching, selling or recommending of anyone's educational platform or group. This is to be a safe place to learn and network and not be hounded , pitched to or spammed, thank you.

@Mike Ball

I'm in Texas and there's no rule for number of units to have an on-site.  I have had FT on-site for a 48 unit in the past.

Rule of thumb is usually 80+ units to afford FT but it truly depends on your underwriting and profit. If you plan for it up front and you can still attain your needed return then it works. My 48 unit could still provide a 10+ % return so we went FT.

@Andrew Schmidt

Absolutely, our goal is to educate and help others on their journey.

@Charlotte Dunford

Never used one due to their fees, don't think they're prohibitively high just didn't have the need.

When I did look into it I was told by more than one that they would provide a maximum of 90% of the raise, I would have to bring 10% myself (can be syndicated for your 10% piece).

Also, as a first timer (I believe I remember that to be the case for you) you won't be able to use them. They require experience, usually 25mm or more in deals to be considered.