All Forum Posts by: Steve Hoghe

@Andrew Thomas Sherman, I notice you're in MDR. I'm in Santa Monica, and there is a good  BP meetup that happens locally on the second Saturday of every month. I'll PM you with the details.

Michael, are you looking to fund deals or do you find/have deals that need funding? 

Fred, welcome to Bigger Pockets. You've found the right tool for networking. I would recommend inquiring around the forums (or searching previous posts) for REI groups. There are many in the LA area and are a great way to connect with people, and learn from more experienced investors. @Jeff Greenberg hosts a free one in Santa Monica on the 2nd Saturday of each month at the Unurban Cafe. I look forward to seeing you around.

@Andy Kim, I was wondering about that strategy myself in a market like this. Prices being where they are and deals being hard to come by, it seems to me that being a hard money lender would be a good idea. You can invest cash on hand with ~10% returns, for a short term basis so you have ample cash funds in the short/mid-term should the market soften a bit. However, I am brand new to this game so I would love to hear others thoughts on this.

Congrats Daniel, nice website too. I'd be curious to hear what kind of rents you're getting there, and whether or not you consider them stabilized.

Hi BP, I am looking to benchmark operating expenses for a portfolio of large apartment complexes throughout Texas, specifically in the Houston, Fort Worth and and San Antonio markets. The portfolio in question is a set of 4 properties are B+/A class with 200-400 units. If anyone has experience with these types of properties, I would love to hear what range of op-ex per unit or op-ex ratios you typically see, or any additional resources you could point me to. Thanks in advance.

Thanks @Joel Barron. Good luck in your search. 

Joel and Don, being that you're software developers, I'm curious to hear your take on the whole "Tech Valley" thing. I've read a bit about this some and interested to see if there is some real momentum behind it. Any insider thoughts?  

Joel, sorry to hear about your narrow miss! I'm curious, where was this property you end up putting in a bid on? I was reading the other thread you started where people were discussing some different areas around Albany/Troy. And what was the price point (if you don't mind me asking)? I've been eyeballing Albany from afar (grew up there) but curious to hear what kinds of numbers it takes to make a deal there work. 

Ryan, welcome to the site. I am a new member as well, still reading and learning all I can before I make my first purchase. I'm actually interested on where you are focusing your search in the Albany area. I live in CA now, but I'm originally from Delmar and would like to invest in the area. There seems to be a budding tech industry in the area that I think can add growth potential to the market. The question I have is, where do the people who would take these jobs want to live? And more importantly where do they want to rent, as I'm looking for a buy and hold property. There is the Global Foundries operation in your backyard, which I've been told has attracted people to Saratoga Springs, but the rental rates up there don't really work with the housing prices. Then there is all the nanotech stuff going on down at SUNY, so I would imagine the neighborhoods around there might be in play like Colonie, guilderland or some of the western neighborhoods in Albany itself. Anyway I'm just curios to hear your thoughts on the area.