All Forum Posts by: Carlos Casanueva

@Dennis Johnson it’s a numbers game, hit them with mailers often and repeat... find absentee owners who have owned 10+ years and have some nice equity built in. That way, it’s a win-win if you strike a deal. Gotta be persistent. One touch won’t  get the deal.

@Andrew Johnson what are you paying per ft on tile installs? I pick up that 20x20 ceramic for $1/ft but it costs me $2/ft to install.... so a 700 sf apartment is costing me $2100 to tile throughout.... I’m also used to flipping homes for end users where our gut/renovations are 30-35k, so do you think I’m spending too much on the apartments? (I know cost of construction varies depending on areas)

@Daniel Carman 12 cap at purchase? Thats lovely. When I try to find that around here they tell me.... “Carlos, we’re not in Kansas anymore” Haha! Keep us posted!

@Aaron Lawson @Henri Meli have you guys come up with a software/program to search for these multifamily properties other than county property appraiser sites? @Aaron Lawson you mention listsource... but for 5+ unit multifamily properties I’ve had no luck with them. The property appraiser site in my county works well... but for other counties here in Florida it’s dismal. Hit or miss pretty much..... 

@Account Closed bingo

@Jonathan Twombly good points. How often do you replace carpets on avg in your properties? I notice a lot of multifamily properties use carpet and in my experience it’s more expensive over the long haul as tenants just destroy them

@Terry Lao if bad management continues, it will keep hindering potential buyers’ options for financing, therefore, keeping the market value of those units down as they aren’t “marketable” 

Only options for a potential buyer are private mortgage and/or pay higher rate.

I had this scenario myself where I owned individual condos in buildings governed by associations. My problem wasn’t vacancy or dreadful financials for the assoc, it was the high number of investor-owned units (another reason many lenders won’t touch it). 

Ultimately, I sold and am now looking to move that money into a 1-folio multifamily building where I control all of it and don’t have to depend on anyone else.

@Account Closed you're right, he paid for potental value. But thats an Investing 101 no-no. You're supposed to pay what the current numbers (NOI) dictate.... he already pre-paid for all the value he's planning add soooo you tell me..... is his exit strategy to break even? 🤗 I'm not a speculator at all my friend. I learned way too much in 2008 to ever make those mistakes. Stick to your guns!

@Tamiel Kenney yes! See you soon. Looking forward

@Account Closed yes, this is what I need. I’m actually looking for 8-10+ units but for PB county I’ve used the prop appraisers site... for other counties like Broward just south of me, the prop appraisers site isn’t helpful AT ALL. Is your list mostly geared to residential (< 4 units) or everything?

I’ve used Listsource and Realeflow for residential properties in the past, but have yet to find a useful platform for multifam.