All Forum Posts by: Dhaval Taylor

@Andrew Gingerich

I’d say everyone here hit the nail on the head. Math is good your cap is off. 7% cap right now? Idk. Obviously depends on many different factors, not sure what market you’re in but here in Grand Rapids MI, cap rates are at 5 mid 4s. You’d be lucky to find any multi fam 5.5 and up.

Hello everyone, 

I am writing this post in hopes to gain some insight on how others are communicating with multifamily owners and the questions you should ask as you call property owners who own larger buildings.

I am currently working in acquisitions for a company that invests in multifamily in Michigan. we have our lists and systems in order to keep track of connected calls, owner info, follow ups, etc. 

One thing I've realized as that I move from 10-20 units to 50+ units the questions I ask need to be tailored a little different. 

What questions would you ask on an initial call with a multifamily owner? and how would you change them if you were talking to someone who owns 100+ units?

I typically run through how many units, unit mix, who pays what, how much the avg monthly bills are for the landlord, capex questions, structure questions. I would love to hear what others ask and if i can quicken the process. I then start the underwriting process with all the details gathered from the owner and look up taxes, do a market survey etc. If we can make a deal we call the owner back.

thanks and any feedback is appreciated!

Glad to see people close to home!

Our investment group has partners in Puerto Rico and we have seen demand in their respective regions. We've decided to research the markets and ways to find multifamily properties in the area similar to how we do in the US. I am familiar with FOIA requests and how to generate a list of potential leads here in the States, but am hoping to gain some more knowledge of the process in Puerto Rico. Has anyone invested in Puerto Rico? 

@Carlos Ptriawan

Carlos,

Thanks for the reply! I agree, with OCC for hotels down to 10-30% earlier last year the discounts as well as quieter rooms have been very nice. 

@Joshua Carvalho

Joshua, thanks for your reply,

"Why book a room in a hotel when you could book an entire house with way more amenities for the same price"

I couldn't agree more.

@Dale Desmond

Dale, 

I agree 100%, thanks for the reply.

@Lynn Wise

Hi there Lynn, I'm with you on that, hotel restaurants are often pricey and eating out adds up quickly. I'm glad that you shared you value the kitchen most! If you don't mind me asking what kinds of things do you hope to see in your kitchen when renting a STR? Things that either made your experience that much better or things you wished your host would have took into consideration? I'm a Hospitality Grad so I love to hear what others want that hosts may not think of!

@Jesse Ottesen 

Definitely generational, I am in my mid twenties and very rarely do my friends and I book our trips through hotels. It really comes down to price and max guests allowed. May I ask where your STR is located?

Thanks for your reply Jesse.

@Beth Vandroff

I love to hear it Beth, 97% OCC in times like this deserves nothing but praise, what's your secret? haha I would love to chat about your experience in condos and STR, can I message you?