All Forum Posts by: Jason Yarusi

@Johnny Lau it really comes down to your overall plan. Syndications have a time stamp. They will be sold and that money will have to be redeployed. They provide much greater economies of scale but you have to make sure you are qualifying the operator or if you are the operator you now have a whole other subset of responsibilities.

We syndicate so this is just to show both sides.

While small multis and sfr don’t have scalability they can also meet a lot of goals for a lot of people.

@Anthony Gayden you can take part in a 506 but $50k may too little for most syndicators to accommodate in their syndication. We set it at $500k. Congrats on the sale.

Sounds awesome Luis. We eliminated the security deposit and added a unit ready fee along with a surety bond paid by the tenant to counter any potential damage. The amount of the two combined was lower than the deposit amount.

Thank you

Investment Info:

Large multi-family (5+ units) commercial investment investment.

SOLD!!! 🏢🏢🏢🔥🔥🔥

Excited to announce the sale of Norbrook Arms two weeks ago. A 94-unit property we held in Louisville, KY. This syndication was a huge win for our team.

Some of the highlights for this property.

👉Originally acquired this asset at the lowest price per unit in the submarket in the last three years.
👉Renovated over 60 units.
👉Implemented a water savings program reducing our water bill by close to 30%.
👉Added additional income drivers including a laundry and cable contract, pet fees, application fees, a move in fee and storage unit income.
👉Curbed expenses by eliminating an additional maintenance person, replacing two boilers and better training for tenant practices.
👉Installed a rent raise strategy that allowed us to raise rents over $100 per door while keeping occupancy above 95%.
👉Completing all of our 12-month repairs in 5 months.
👉We made this complex a better place to live for the tenant base

Our sale of this asset was three years ahead of our original business plan as we were able to accomplish our goals in a significantly quick timeline.

What made you interested in investing in this type of deal?

This was a great deal. We were able to secure this off-market three years ago and the property had substantial upside.

Below market rents.
Ability to capture a number of other income drivers.
Additional contracts to produce other revenue streams.
High expenses.
Inefficient current management.

We were able to reposition this asset quickly and efficiently and make this a great place for people to live.

Absolutely not a fail. Much better to not buy a deal than to buy and find out later that you didn’t fully do the homework to know what you are buying. I have heard about a number of people who get surprised by the taxes changing. This always has to be a huge red flag. Knowing what’s controllable and not is part of the process in buying. You will find that next deal, it’s simply a numbers game, just keep churning along and keep solidifying your processes.

Great question. This would be outlined by the sponsor and could be handled a number of different ways.

@Lyman DeAnn-Gaines II not at all but I started speaking at a ton of events and started a meetup that now has 2,000 members organically and I found the common thread that everyone talks about was what they want to do but the few that have are the ones who just start doing. There’s no perfect plan. There’s preparation and action and the outcome becomes a series of lessons learned by taking action. Now that doesn’t mean be reckless. I found mentors and surrounded myself with like minded individuals. But any action beats no action. Doing and failing will always be better than regretting never trying and no ones watching - everyone’s too busy worrying about themselves.