All Forum Posts by: Chris Abkarians

Thanks Chris, having a more in depth discussion with someone fairly senior tomorrow and will let you know what comes of it.

Current discussion is around structuring a 25-50 bp discount to borrowers without changing closing cost (which was already quoted at zero). It was already also the best rate I'd found! Closing timeline is an open ended discussion point right now. There is some openness to executing this as long as the borrowers apply and are approved by a certain date.

Hi all,

This is a bit unorthodox but curious to hear some thoughts. I reached out to a dozen lenders in Boston to find the best rate for my own mortgage. Many of my friends were looking for mortgages at the same time. So, we asked a few of the lenders if they'd give us a discount if we got 10-20 borrowers to go with the same bank. Surprisingly, 2 of them said yes and now we're bargaining on price.

This didn't seem all that difficult to do, so I'm wondering if this already occurs at a larger scale? Are there any buying groups I could perhaps join to find an even lower rate?

Hi everyone!

Curious if anyone has experience with Subject to or wraparound mortgages in today's market? I admittedly have no experience with them, but am trying to learn as much as I can.

Given how fast rates have risen, I'm wondering if structuring more deals this way can create some value for both the buyer and seller to a greater degree than in the recent past.

Thank you all in advance.

Thanks you @Joseph Cacciapaglia and @James Hamling for your feedback! Sincerely appreciated.

Thanks Aaron, appreciate the feedback.

Agreed on vacancies being a part of doing business. Depending on how a product like I described is priced, it could be an incremental revenue source as well.

Hi all,

Curious if anyone has ever come across a service that helps insure roommates in case something happens and one of them cannot pay their half of the rent?

Issue: I've had some cases where roommates split rent and one falls ill or has to move out. Both roommates are liable for the payment, but sometimes they can't pay rent until they find a new tenant. I'd like to find a creative solution that would cover this scenario.

I'm considering charging a small monthly roommate fee (where allowed) that would cover 1-2 months of rent while a roommate looks for a replacement. Each roommate would pay, say $50/month extra, to get the coverage. Would need to avoid fraud and adverse selection, which are key issues, but solvable if priced correctly over a large enough customer set.

Anyone know if a 3rd party or insurance company offers anything like this?

Thanks!

Chris

Hi all,

I came across an interesting line in David Greene's "Long-Distance Real Estate Investing" book. In it, he says that "Investors have leverage to negotiate better prices and services based on the size of their portfolio. The more properties you bring them, and the more total revenue they are managing, the more money they will make. This, in turn, makes them much more likely to make you the priority you always wanted to be. It can also mean you negotiate lower prices!"

I understand the downside of getting cheap on property management. But, curious if anyone has examples for how pricing changes as you scale from having a PM manage 10 units to 100 or 500 units. I imagine there's some improved economics for both sides.

Further, would it be possible to combine efforts in a given region and have 10 property owners with 20 units each bid out their PM contracts as a group?

Thanks!

Chris