All Forum Posts by: Elijah VanDenBerg

I was tipped off by one of my tenants that they have been noticing multiple vehicles stopping by my apartment building at all hours of the day and through the night. He also informed me that the tenant involved had been arrested for drug possession and is now jobless. Multiple ideas come to mind on how to handle it, but I would like to hear other thoughts or actions that have proven successful.

Thanks in advance!

Looking for referrals for a painter and/or painting companies in the Manchester, NH area. Need the exterior of an old Victorian house repainted. Thanks in advance!

I am looking for property management in Coos county, NH. Specifically, around the Lancaster area. Any referrals would be greatly appreciated. Thanks in advance!

@Jaysen Medhurst that makes sense. Currently what's been getting listed in my market almost always need to have value add opportunities to make the deal work.  

Agreed, thank you for your input Eugene. I am viewing a few properties this week so hopefully the numbers will work out! 

@Eugene M. yes, I have been meeting with a commercial broker for about a month now and feeling pretty confident about all the terms of a commercial loan. 

I appreciate your input on the expenses. When you say allocate more for management - are referring to more frequent turnover and the associated fees? 

I am currently on the search for an 10-15 unit c-class multifamily (purchase via 1031) in the $1M range. When analyzing and running numbers, what tends to be the difference in expenses (repairs, cap ex, maintenance...etc) between them and smaller 1-4 unit multis? I have always run around 8% for repairs and 8% for cap ex for my smaller multis and am curious if this stays consistent with properties in the 10-15 unit range? I understand there is no cookie cutter answer, but I am curious to hear your thoughts!

Thanks in advance!

I am currently on the search for an 8-15 unit c-class multifamily (purchase via 1031) in the $1M range. When analyzing and running numbers, what tends to be the difference in expenses (repairs, cap ex, maintenance...etc) between them and smaller 1-4 unit multis? I have always run around 8% for repairs and 8% for cap ex for my smaller multis and am curious if this stays consistent with properties in the 8-12 unit range? I understand there is no cookie cutter answer, but I am curious to hear your thoughts.

Thanks in advance!

Per 1031 rules,  I can identify up to three properties as "replacements." After the sale of my property, I am limited to 45 days to identify those 3 properties (If I decide to go with the "3-Property Rule" vs the "200% Rule"). I then have up to 180 days to close on 1 of the 3 properties I identified. 

The reason I did not identify the buy side first was because I unexpectedly had to sell (special permit on ADU  out of town compliance). Thus I have approx. 70 days to identify 3 properties (closing is scheduled for May 31st). 

I am hesitant on long distance investing (however, I have had two rental properties out of state). I prefer something I can drive too if necessary. If I were investing in larger multifamily properties, I would be open to invest out of state, but at these lower numbers, I'd rather be within commuting distance. 

Situation: Selling off an investment property (currently under contract) and will be attempting my first 1031 exchange. 

Challenge: Identifying 3 properties (min: $410k max: $700k) to choose as potential replacements

Location: NH (preferred). North or Central MA. 

Requesting: Any tips/tricks, leads, contacts, advice...etc. on successfully executing the 1031 and facing the challenges of their time constraints. 

Thank you!