All Forum Posts by: Gus Ross

@Greg Atwood I would suggest asking for a T12 which is what Hayden is referring to. On large multifamily deals it makes a ton of sense to look at the last 12 months data of actual figures. Good luck on your deal!

@Jason Yee please read the post above by @Nathan Emmert because I share the same sentiment and points he noted. Most specifically the ability to condense CAPEX to a single location. The shared use of the structure (i.e. roof, walls, floors, ceiling etc) is a significant pro in my opinion.

@Jaime Perez Smart Move is a nifty tool that gives a risk assessment of the tenant and I've found it useful.

Great stuff and congrats!

@Karen W. underwriting a 10% vacancy is pretty common.  The deal doesn't pass the 1% rule but if the great neighborhood/great location is truly the case you can see appreciation on the deal.  Tough call to make ...

An A/C unit for 750sq ft should run 3k conservatively ... I'm confident you can find it for under 3k replacement.  I'm not suggesting you to do what I would do but ......  I've been in similar situations and asked to reduce the purchase price down post inspection.  Something reasonable and fair generally doesn't offend or jeopardize a deal.  Best of luck!

It placed various restrictions and regulations on lending/capital requirements but it's way too in-depth for me to explain here.  If rewritten it will most likely loosen lending and make the credit markets open up a bit for borrowers and lenders.  Whether that is a good or bad thing is a macro-economics issue.

I'll be there ... I live down the street =)

@Brian Garrett agreed on that ... but I can't seem to lineup price with owners in Palm Beach at the moment so I'm waiting somewhat patiently.

Anywhere in Palm Beach County when the numbers are right and am currently expanding to Broward County and looking in the Orlando area next weekend.  I'm at 9 units but as a contrarian I didn't overextend with leverage and paid off 8 of the doors and carry no debt on them.  Since then I've raised capital commitments based on my track record but can't seem to match up a deal on cap rate numbers in the commercial space (things are a bit inflated in my opinion so we are cash heavy waiting for correction).  I'm always looking and trying to network with as many wholesalers as possible.