All Forum Posts by: Eugene Reamico

Hi Everyone,

Looking for rental arbitrage that I can use for travel medical professionals in the Houston are. Prefferably close to the hospitals.

thanks

Eugene

Looking to connect with people who have properties for rental arbitrage. These prooerties will be used for housing for medical travel professionals. Lets connect

I am about to negotiate on the purchase price on a multifamily apartment. The property is owner managed, out of state, never renovated the property all the years of ownership, good location and mis managed . They are also open to seller financed and are asking 6.5 million . We are offering $4 million @ 10% DP and 5.5%/yr interest for a total of $5 million in 5 yrs. What is the best way to negotiate ? or are we offering a very low number?

Thanks @ AI Lev, will definitely look into it.

Thanks Bruce. What is the minimum # of units that property management will accept? Hoe much do they charge usually? 6-10% annual of gross income?

Hi Bruce, the property is in Arlington, Tx. They are selling 20 units as part of a apartment complex. Ive been seeing that on loopnet and I wonder is that even possible ? And how much control does a potential owner have ?

Looks like this is going to be a complex one. For someone just starting out My gut tells me not to do it.

Appreciate your reply Spencer. Can I connect with you via limkedin? I am looking at entering mutifamily here in Texas and would like ask you some questions regarding syndication and investors.

Thanks

Eugene Reamico

A 20 unit apartment is listed for sale as part of a apartment complex. Anyone had any experience or thoughts about this? Any pros and cons?

Thank Ryan Garrison and Spencer Gray for the reply.The reason I asked is because I saw this 30 and 42 unit property in Houston. The description below is from the website of the agent. Let me know what you guys think? 

Description

Combination of two marvelously rehabbed properties 15 minutes apart. THE MONROY 13718 Force St. 32 units beautifully and professionally redesigned. $3.2M price. Assuming a $1.82M loan at 3.35% interest, 2 years left on interest only period. 30 year amortization. 8 years left on current fixed term. OBERON APTS 2802 Westside Dr. 40 units. includes 8 3/2 brand new townhomes. $4.0M price. Assuming a $2.9M loan at 3.35% interest, 2 years left on interest only period, 30 year am, 8 years left on term. Outstanding amenities include spacious walk-in closets, granite countertops, stylish carpentry and trim all throughout, green common areas, simplicity and comfort at its best. Long term leases in place with minimal operational costs.