All Forum Posts by: Brennan Vaughn

Update: been using Doorloop for 1.5 months. I love it. More advanced than rentredi, back end software is 1000% better, UI is amazing, support is responsive. worth the money. 

Takes some time to get used to because there is so much to do with it. 

RentRedi is not the best. Their payment processor is terrible and tenants will complain monthly about "error codes on payments" 

Also they never get my notifications about updates at the property.

I've been using RentRedi for 2+ years - pretty fed up with their issues over the last 3 months. Multiple tenants cannot pay, tons of bugs on the backend, User Interface doesn't load 30% of the time, the support team is based in the Philippines and they have no idea what they are doing just copying and pasting scripts. Needless to say, I have broken systems in place right now that need to be fixed. 

I am pretty impressed with DoorLoop it feels like a more complete Rentredi with better backend technology stack and a United-based support team. 

If you are using DoorLoop please drop a comment below and let me know what you like about it so far. If you have had issues with DoorLoop would also like to hear those as well.

Thanks in advance. 

Hey BP community,

Looming for some guidance and thoughts on commercial office space. I have only multis in my portfolio today.

Firstly, I see a lot of development talk around conversions to multifamily. What are some other interesting things you’ve seen. ?

Secondly, this is 3 story Commercial office space. 16 of 24 suites are filled. Under renting by $2-$5 per sq foot, & landlord paying all expenses - electric, gas, trash, insurance, taxes,water, etc. what are you doing immediately to fill this and reduce expenses? Is it common for commercial tenants to pay for utilities ?

Any thoughts welcomed

Hey we received off market financials on a 64 bedroom student housing building.

We have been heads down looking at apartments so this is a little outside our zone.

But we were curious if we’re underwriting this how do we go about it since they are charging per room?

Do you have any underwriting resources you can point us to for student housing?

How would a lender look at it different than an apartment ?

Thanks in advance.

- Brennan

Hey we received off market financials on a 64 bedroom student housing building.

We have been heads down looking at apartments so this is a little outside our zone.

But we were curious if we’re underwriting this how do we go about it since they are charging per room?

Do you have any underwriting resources you can point us to for student housing?

How would a lender look at it different than an apartment ?

Thanks in advance.

- Brennan

@Luke Carl

How is it a hotel?

It is not. Its a apartment building in a commercial zone with storage units out back as well. Airbnb converted because its 1.5 miles from 2 different hospitals

Hi all. We came across a property that is a 7 unit apartment building and converted to Airbnb. 

When underwriting this type of property, do we underwrite it as a long term tenant at market rents for the lenders sake? How do you go about analyzing a short term rental vs a long term apartment when underwriting? Any differences? 

Any advice would be great.

Got it thank you. Yes we got them as an adjustment.