All Forum Posts by: Gerald Kieffer Jr

That’s excellent advice. Thank you. 

Yes, in phases. I have to keep it under 12 units to keep it from going to the state for a more expensive planning process. 

Are the syndication guideline conveniently posted somewhere? I think it’s a great idea to start looking for partners. 

I'm considering the purchase of an old 30k+ square foot school building built in the mid-1940's. What contingencies should I place in my offer? Asbestos, lead paint, a sound structure & roof, .... anything else?

Also, once purchased, I plan on hiring a designer and then putting together a group of investors to help ensure a successful build out. Any advice of that aspect of the project would be greatly appreciated.

Follow the law and the contract. Our lease has very clear policies regarding pets and we even have a separate non-refundable pet deposit associated with it.

The market (growth wise) here is promising. There are few existing multi-family properties on the market for sell as most are fully rented. The job market is "nuts", so to speak. They are building a battery factory not far from here that will employ over 2,000 people and we are all wondering were the workers will be "transplanted" from.

Thanks for the feed back.

Back ground, I have a NW of approx. $1.3 MM. Three properties with seven units that generate excellent cash flow. I'm sitting on about $350k in cash and I'm wanting to put it to good use. Two questions: 1) I have the skill sets (but not necessarily adequate time due to a small business that I run) to build my next property, a six-plex. Should I do it now or wait? 2) If I wait, where do I part the funds so that their purchasing power doesn't fall through the floor due to the current rates of inflation?

I'm actually located in the Bowling Green, KY area and we have as of yet to suffer any of the dramatic ups and downs that occur in other markets when the real estate market implodes periodically.

@Jon Silva

AirBNB is almost like running a B&B or small hotel in that it is systems and labor intensive. That said, I own one and it is very profitable.

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I'd like your input if you'd be so kind. The $565k includes $65k of land costs and $500k for new construction. I purchased an empty lot and cleared it. I'm currently in the plan review/building permit phase. 

No skin in the game is probably a deal breaker for me too. 

Sue for specific performance and let the sheriff's department remove her when you win.