All Forum Posts by: Will G.

Hey Sean,

What class of property are you most interested?

hi pocketeers,

I could not find historical data on cap rates for multifamily, so do you recall what rates were like 10 years ago?

I do remember getting 5% on savings in the bank back then, but what would you expect (cap rate wise) out of a multifamily investement? Generally speaking or us average, i know every market is different.

hey Ryan,

Whats the matter with austin? 

Cap rates too low?

my 20 year old self!

no point, anymore. If someone wants to sue you the llc will not stop them...unless it is setup, funded, handled, managed perfectly. Then there is still a chance of getting dragged into a suit. Use your name and insure (liability and umbrella) to the max!

please remember where we are in the re cycle! Everyone is struggling with purchasing right now so dont feel bad. Multifamily is under tremendous pressure with the lowest cap rates in history, mostly cause all other passive investments dont pay crap! Remember when you got 5% in the bank?  I do, and wonder what will happen to all those multifam deals that were purchased at under 5 caps, if interest rates return to 5%(savings). 

Ok so what to do in this difficult market? Consider classes that are not so popular now (maybe industrial or office or mobile home flipping)

Sober home? (renting bedrooms to recovering alcoholics) Met a woman in austin who made millions doing this.

Write letters for offmarket properties

Look at possibilities for repurposing(watched a small office complex go multifam around here)

Wait and continue to educate yourself till things get easier to buy.

I dont think going outside of houston will help much, seems tobe like this everywhere

just had this conversation with my city manager, and discovered they WANT projects like you are describing. This is a giant hurdle regardless of what is legally possible, as you will be in a much better position if your city council "like" the idea. I am not sure how you go about tying up the property long enough to try zoning change(several months?) except if it has been sitting so long the owner wont care? And then what if owner does not want the zoning changed/ can you withdraw from change application at any time? I would be very interested in how that might work. What about reaching out to people you would like to have on your "team" and pitch it as a jv, and add credibility to your proposal?

I am sure you know this but we are in a super bull market for multi, with the lowest cap rates ever, so make sure there arent any large developments coming that could hurt yours.

I have found tsp substitute to be great at cleaning and degreasing cab doors before paint, then a light sand with 150 or 220. The cabinet rescue can even be used over laminate btw. I removed the doors for this project to convert to hidden hinges, which i tried xxi hinges that dont require drilling cups in the doors.

The boxes and doors got two coats of cabinet rescue, and used a quart and a half for the entire kitchen. I had to do a little sanding on the cab resue to remove some imperfections that got in the wet paint.

With the doors horizontal i applied the clear, two heavy coats, and did not even clear coat the boxes (cant tell the difference between the cleared doors and uncleared boxes when reinstalled. Valspar makes a matt clear you can roll/brush on, which i was going to use for the whole project to avoid spraying indoors,but i could not find it locally.

Since the doors get all the abuse from handling, it was important to me to have the extra protection on them.

I did not anticipate how much i would like the look and feel of the matt clear!

I did try to get photos, but just could not get the detail with the phone camera:-(

The cabinet rescue is awesome by itself but the matt clear really pushes it over the top, with an ideal (imho) low gloss finish. I tried semi gloss laquer but that was way too shiny

i have painted lots of cabinets and usually spray them with oil based paints out of an automotive type setup, to get a factory like finish, but no more!

I tried cabinet rescue with a mini foam roller in white and got as good as sprayed results. It lays out so nice and flat!

The extra seceret ingredient on this project was a couple of coats of rustoleum 2x matt clear right out of the aerosol can! Unbelievable factory like results, with a gorgeous sheen, and way less trouble than my old method.

It only takes a tiny bit of effort to get even coverage with the clear, i had to get the lighting at an angle to effectively see the wet edge of the clear going on.