All Forum Posts by: Danielle Huang

@Philip M. @John Dean @Bruce Lynn  Thank you everyone for very valuable advices. I really value all the inputs because I cannot get those answers from people around me. Thank you very much.

So now if we buy something, there is still tenants inside not paying, can we still do renovations? 

How do people handle situation like that because of eviction moratorium.

 

Hi I found a 8 units deal in Dallas and the listing agent said it needs complete renovations to the studs.

The building is built in 1929 ish, the electrical system and interior needs all updates. The roof also needs work.

I have not done such a rehab before and what is your advices, I know people say your first renovation should be just some TLC

not complete renovations. But I am just curious to ask if it is a doable thing, what is your view on it?

Is 30K a unit a reasonable cost to complete a unit? Thank you.

@Gino 

@Gino Barbaro Thank you. I am listening to your podcast for the first time. It has a great deal of knowledge. I actually for warded to my partners. Thank you.

@AJ Shepard Thank you very much for detailed explanation and encouragement and advice. I am very nervous and excited to start my first deal hopefully in next 6 month (having been actively looking for deals) and I would love to continue to do it if it is a success. Due to my work, I can get in contact with high net worth people and I think it will help but then it is scary to think to handle their money and make sure their investments are secured. However, I think if other people can do it, I should be able to handle it too:) I will keep trying to complete the first deal.

Btw, I found a multifamily property and it has a land next to it for purchase another 16 units in Dallas, Is it a good idea to buy the land too. What is the consequence for not buying it if any? 

@Carl Millsap Thank you for replying me. The points are really helpful to remember, especially you mentioned about 50% of net annual income for the expenses to be conservative. I agree with it.  

@carl 

@Carl Millsap@Bruce Lynn

Thank you for replying my message and explaining the relationship between NOI, CAP and Sale price. I heard the cap rate in Dallas is around 5.25 to 5.5 for multifamily. Is it correct? Also, since I will be out of state owner, is it reasonable to estimate around 37%-38% of operating expenses (excluding Interest expenses, considering the exterior and interior are newly upgrated, new roof, new HVAC...) of total rental income. I am tying to underwrite it and make my offer. Thank you for all of your time.

@AJ Shepard Thank you very much for your quick reply. He is my friend's husband and he knows I have a group of investors committed so he hopes to get me help him for his plan to find a land in Ontario, CA and build the distribution warehouse and he will sell it later once its built. He is in trucking business and knows people to build warehouse. The reason I ask is I know it will be a hard thing to do for a new syndicator like me so I just want to provide some valuable feedback to him and learn it myself too. So I guess my questions are:

1. Is it common for a syndication to involve in development even if they have no knowledge in development.

2. I am starting out to be a multifamily syndicator, how do I transition to be a developer syndicator.

3. Since me and my investor (the friend mention above) we both have not had prior experiences in syndicating development deals, how to raise funds.

Michael blank apartment syndications -I have read it, highly recommended too

Joe fairless best real estate advice ever-I have read it, highly recommended too

Jake and geno wheelbarrow profits-I will start it, I have heard many people talked about their podcast too.

I just joined multifamily university boo camp and I look forward to the start date in Feb 2020.

By the way, I have learned some mentors in the areas that I like to start the multifamily, yes it is expensive. Do you think it is worth it? It will cost me about 60,000 a year.

Hi I am a really new syndicator and I have some investors and I get proposals about things they want to do.

One investor wants me to raise funds by finding a land in an industrial area approximately 10 acres to build a 100,000 to 200,000 sqft distribution warehouse near Ontario CA. The investor knows how to build it and just want to raise funds. Sorry by me sounding so unprofessional.

But if you could provide some feedback, anything is appreciated.  I am just curious, if you would do it, how would you start it? 

Hi we are a new group of investors trying to purchase multifamily properties in Dallas, near zip code 75214.

I am looking for deals in the area and I have some questions.

1. How to find comps for sold properties near by

2. Do multifamily purchase price based on how many bedrooms, or how many units, or something else

For example, if I see a 9 units, 11bd/9ba properties, class C, built in 1960, newly renovated, in zip code 75214,

What is the ballpark price for this property?

Sorry again, I am really new investor and I don't really have a broker to ask the information. Thank you for your time.