All Forum Posts by: Gova Reddy

No. They are not giving the promised return. Distribution is not paid for the last 11 months, saying Covid uncertainty. When we looked at the accounts, there is not enough money to pay past distributions. Revenues are strong even during covid, but expenses are extremely high.

In the monthly email communications, they have been saying property is doing extremly good and exceeding expectations. When we confronted them, we are finding out such details.

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Thank you, Greg.

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Hello,

I have invested into a multifamily indication through syndication, as a limited partner.

Our general partner lives in a different city. Whenever they travel to the city where the property is in, they are charging all of their travel expenses to the property. They have charged thousands of dollars of their travel expense so far towards property operating expenses.

My understanding is that this is not a qualified operating expense of the property. Their visits are part of the asset management. Is my understanding correct?

What should we do? How should I proceed?

Thank you

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Thanks James. Appreciate it.

Originally posted by @James Wise:

Originally posted by @Gova Reddy:

James - I said it's a PRE-stabilized property, which is less than a year old and currently still in the lease-up phase, not a Stabilized property.

Originally posted by @James Wise:

Originally posted by @Gova Reddy:

Hi,

We have invested so far in Class C, value add type properties and we received an offer to buy a brand new pre-stabilized property where occupancy is just reaching about 85%.

I understand that buying a brand new property is a completely different ball game from buying and evaluating an older Class B/C product.

Can anyone here provide insight as to what to look for when buying a pre-stabilized property. what are the general rules of thumb to follow and pitfalls to avoid.

Appreciate your help in advance.

It being stabilized already makes this a simpler and easier property to analyze no?

Gotcha. Well then what you'll need to do is rely on your market knowledge. As the building doesn't have a history itself you'll need to rely on how other similar buildings in the area perform. If you know that market should be very easy. If it's a new market your unfamiliar with you'll be flying blind.

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thanks Hadar. Appreciate it.

Originally posted by @Hadar Orkibi:

@Gova Reddy make sure that the developer brought everything to code with the city and everything s signed off.

would they consider seller financing?

why are they not waiting to to sell when they have higher occupancy?

I would still buy on actual numbers and not pay a premium, the new build market in some areas are softening and owners need to give some concessions to fill up the units..

Do some more research on the market itself to see what is the absorption rate in the market? how many new units are built and how fast they are rented out...

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James - I said it's a PRE-stabilized property, which is less than a year old and currently still in the lease-up phase, not a Stabilized property.

Originally posted by @James Wise:

Originally posted by @Gova Reddy:

Hi,

We have invested so far in Class C, value add type properties and we received an offer to buy a brand new pre-stabilized property where occupancy is just reaching about 85%.

I understand that buying a brand new property is a completely different ball game from buying and evaluating an older Class B/C product.

Can anyone here provide insight as to what to look for when buying a pre-stabilized property. what are the general rules of thumb to follow and pitfalls to avoid.

Appreciate your help in advance.

It being stabilized already makes this a simpler and easier property to analyze no?

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Hi,

We have invested so far in Class C, value add type properties and we received an offer to buy a brand new pre-stabilized property where occupancy is just reaching about 85%.

I understand that buying a brand new property is a completely different ball game from buying and evaluating an older Class B/C product.

Can anyone here provide insight as to what to look for when buying a pre-stabilized property. what are the general rules of thumb to follow and pitfalls to avoid.

Appreciate your help in advance.

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Hi,

I am a permanent resident of US planning to invest into 506C offerings. To qualify as an accredited investor, one of the ways is to show a $1M assets other than the primary residence.

I have a large real estate portfolio in India which is work more than $1M as per the current market value. How do I go about getting accredited. What is the process to make my foreign assets count?

Any info is greatly appreciated.

Thanks

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All Forum Posts by: Gova Reddy

Gova Reddy has started 3 posts and replied 8 times.

Post: Multifamily syndication - Huge travel expenses by asset manager

Post: Multifamily syndication - Huge travel expenses by asset manager

Post: Multifamily syndication - Huge travel expenses by asset manager

Post: Any experience in buying pre-stabilied Multifamily properties?

Post: Any experience in buying pre-stabilied Multifamily properties?

Post: Any experience in buying pre-stabilied Multifamily properties?

Post: Any experience in buying pre-stabilied Multifamily properties?

Post: Accrediting Investors with foreign Assets