All Forum Posts by: Chris F.

Was scrolling reddit and found this website. Looks pretty cool and allows tenants/landlords to post anonymous reviews. General review sentiment actually seems to be much happier and pleased than I would have anticipated.

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On a high level, do you guys look for buildings in a specific decade and up when investing? For example, 60's multifamily may have materials that 80's and newer does not so for that reason you prefer to stay above 80's product.

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Sounds like we have a crew. How about next week? Say bungalow, shangri la, or urth caffe?

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https://www.reonomy.com/blog/post/national-multifamily-investment-sales-report

This was just posted and has some good high level info. Whats your thought?

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Originally posted by @Mindy Jensen:

@Chris F., while you are welcome to discuss a meetup in the regular forums, announcements of said meetup can only be posted in the Events forum at www.biggerpockets.com/events

Oh perfect that’s what I was looking for. Nothing set yet but just garnering interest. Thanks!

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Boom! Two down, unlimited angelenos to go. Let's keep this thread running to get some more interest for a group meetup, but in the meantime down to network with you guys as well.

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Would love to network with some fellow BP members in the area. Does anyone know of anything happening or would you be interested if I set something up?

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Originally posted by @Jim Blackburn:

@Chris Fi

From a Leonard perspective, we’re going to look at the property address, and the operating income statement of the building, and your ability as a property manager. That’s 80%.

The other 20% is your personal income assets and credit used for illustrating your financial responsibility.

Jim

Yep. Ive been providing everything except an income statement...they literally only had a spreadsheet of the rents coming in and the expenses he thought he had for the year. So I have requested a T12

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Originally posted by @Austin N.:

@Chris Fi: Looks good to me! Instead of using a flat 1200/unit/yr you could breakdown major capex with regard to remaining life and make sure the reserves grow fast enough to reach demand.

Also, could I get a copy of both spreadsheets as well? I like the clarity in your “rough” version and look forward to seeing the institutional version.

Ah smart idea!

Ya absolutely, Im not affiliated with these guys, but I recommend checking https://www.adventuresincre.com/library-real-estate-excel-models/ or RedIQ out. They have some solid models.

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Originally posted by @Emilio Ramirez:

What's the age of the building/condition? Does initial rehab capture all repairs that need to be made?

Bobcat?

Repair maintenance cost seem low. Overall expenses seem low. I guess if you're managing yourself for no fee that's a piece of it. Would be worth factoring that in just to see how the cash flow looks then.

Two SFR's were 60's build and the rest were 83/85. Im ok with about 30-50k in rehab. The buildings are in fair condition. There is a bobcat the seller wants to sell separate from escrow but after speaking to him he REALLY wants the buyer to have this with the property lol. I agree that the low 30% of EGR is low but yes because its so small i'll be managing it.

Now for repair costs, I also have capital reserves factored at the bottom. Are you thinking the repair costs should be an expense in addition to the capital reserves?

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All Forum Posts by: Chris F.

Chris F. has started 31 posts and replied 68 times.

Post: What do you think about reviews on properties?

Post: Minimum Building Year

Post: Santa Monica, CA Meetups?

Post: A good read from data

Post: Santa Monica, CA Meetups?

Post: Santa Monica, CA Meetups?

Post: Santa Monica, CA Meetups?

Post: Underwriting an 8-Unit. How does it look?

Post: Underwriting an 8-Unit. How does it look?

Post: Underwriting an 8-Unit. How does it look?