All Forum Posts by: Fritz Ritter

Interesting conversation, may be asking a super novice question but isn’t the best upside to non performing note investing to be able to foreclose on good properties in good areas to gain ownership of people who maybe over paid? It’s not really a passive role but a way to get into good properties once **** hits the fan? Love some feedback 

@Matt Castle that’s a great idea, I’m going to look into that now. It’s a pre-existing LIHTC property with some improvements and we’d like to move in our own pre-vetted property manager.

@Remington Lyman it’s already a LIHTC properties build in 1975 I believe they’ve used most of the credits. And the program is in place until 2036 I believe. Is there a way to get a list of LIHTC approved management companies?

Hey guys,

Looking to shed some light on finding a management team that can handle LIHTC properties in Columbus Ohio. Is there a way to find a qualified property manager or does anyone have recommendations? TIA!

@Daniel Reyes I’m very interested! I would love to take a look

@Derek Raivio as mentioned above for the larger raises 506C would be more beneficial unless your network can raise that kind of capital. (Normally at that level they will be accredited anyway).

Your SEC attorney will be able to help you decipher what establishes a “preexisting relationship”. I know Kim Lisa taylor has a new book out with some information on the legal side of syndications. I have not read it yet but some very respectable people have recommended it to me!

There really isn’t a way around the “preexisting relationship” it’s just knowing what qualifies per SEC regulations.

I’ve heard very different ways of compensating to Asset Manager in multifamily syndications(assuming you’re bringing someone on to your team). Some give up 25-35% of the GP, some give a on-going % of revenue such as 2-3%. To any asset managers which structure is more standard ? And to operators who have add these team members in the past which structure not only works out for the long run but keeps the asset manager around for the next deal?

Hey I’m looking to network with other syndicators in the market! Me and my business partner fly out next month I’d love to connect and grab some lunch while we’re out there. Please reach out if you are interested in talking about the market and multifamily real estate!

@Mary M. You are already providing a service to them , I mean unless they are 5 year long term tenants I wouldn't award them for doing what they are supposed to do as stated in the lease. Its a nice gesture and I'm not saying if you do your a sucker ,  I just think running as a business and dealing with multiple tenants this can become a expectation and eventually a expense that can reflect negatively on the overall performance of your investment. A card saying happy holidays would probably be sufficient. 

A question I have is would you write it off as a business expense ? If not then maybe it doesn't look bad on your business performance , but if you do it just seems like a unnecessary expense on your balance sheet.  

Can anyone recommend any property management teams that manage 65+ units in Huntsville , AL? Looking to get market standards for expense percentages to help  my underwriting . Thanks in Advance!