All Forum Posts by: Franco Li

Any help would be appreciated! 

Sure you can do wholesale, but I've only done SFRs. 

Thing w/ Airbnb is you'll be experiencing a lot of turnover, of which you'll never be certain whether the folks are truly decent (sometimes reviews and ratings don't tell the whole story). Moreover, you may not get consistency in cash flow, so would you be able to stomach that risk? Still in theory, it sounds like a great idea since you have so many rooms and potentially even a fitness center/theater room which is attractive. I would also recommend reviewing the state and city legislations on Airbnb. Coming from NYC, people are experiencing more and more problems with the company and these sorts of rentals. Good luck!

This sounds like a fantastic investment opportunity! You want to make sure the taxes are not absurd - I've had a similar deal like yours and didn't do enough diligence on the school taxes! If you are buying the property at a premium than the prior sale price, keep in mind that the taxes will go up, so make sure that you've accounted for it before. 

You can definitely succeed w/o even using the $20-25K. 

I have syndicated deals where I literally have zero equity in, and take a servicing fee on finding the property and arranging the syndication and the transaction. I did exit the strategy as I moved on to bigger and better things, but you don't need to save up for THREE?! years to begin!

 Everyone check it out. We are free. No strings attached.

Hi All -

I use a mixture of craigslist and talking to local property managers to discover how much I can rent my investments out for, but was wondering what other sources do other investors use? 

More importantly, if there is a product out there than can definitively show the market rental rates (zillow and rentometer have their flaws unforunately), will any investors, agents, or lenders be willing to pay for this data? My team and I have pretty sophisticated tech backgrounds and can get these data points with a high level of accuracy, but before we even decide to do something like this, we want to gage whether there will be people interested in this information if it cost money?

Cheers.

Crazy. I'm sorry, but there are tons of free software and free material out there to learn. You just have to really push and go for it. Best of luck.

I have rental property thats around 5-8 hour drives away from me. I've never had a problem securing leverage. You just need to show that you have sufficient liquidity and can service the debt. 

The homes in this portfolio are not commercials. Blackstone purchased portfolios of SFRs and multis post-crisis at depreciated prices, and have been servicing the pool since. PE funds do not typically IPO on alternative assets (although RE doesn't count as one) bc they can source private and cheap capital. IPO-ing this REIT effectively means they want to grow and lets be honest, their only other source of capital would be to issue debt.

In my opinion, this does not signal RE values will decrease - although upward trending interest rates may have that impact. Blackstone can utilize the capital for other investments and purchase more homes, and they also make a killing on servicing fees of this pool. They see this more of a long-term business i think, otherwise, they would exit the opportunity, and its really not that hard to do so - typical valuations of on-lease rental portfolios can sell at 1.2-1.5x book value so they can make more than par.