All Forum Posts by: Jay Boyle

Dear Sam,

The commercial real estate 'Zillow' is LoopNet.com. A full subscription is a couple hundred $$ a month but the free version gives you enough listings to be able to see who the brokers are in your market. Most of the deals listed on loopnet are not the great deals. The brokers have access to the good deals 'off market'.

Call the brokers and let them know you have criteria and a strategy and they will definitely tell you about the deals in your area of interest.

Good luck! Jay 

I have high cash flow value add apartment complex deals presently under contract. 75 % equity and cash flow for partners. Projected 10% cash on cash and 18% IRR.

Please message me for all the pertinent details.

Sincerely,

Jay

Bud,

Management is everything. It will make or break the deal. Seek out the managers of successful properties in your market. Ask them what props they can make work easily. They often have leads on properties for sale. Its hard to find a great PM. I find it works best to do that first. My properties are in Tucson. I live in New Jersey but the fantastic PM makes it happen.

I am sorry you are under the gun for the 1031. keep looking but don't buy a marginal deal just to save the capital gains tax. Its better to loose the 1031, pay some taxes and buy a really great investment if it takes longer, its worth it. my two cents sir. good luck!

Jay

Dear John Warren,

If you decide to consider that very rough area, you might think about touching base with local social service providers who may need apartments. Some providers will not only rent your apartment but be responsible for damage and pay for routine turnover costs. They can be very stable payors in an otherwise tumultuous market. My social service provider manager in Arizona keeps the units filled up. Good Luck.

Sincerely,

Jay

Just be honest with the broker and seek his advice!

3 value add apartment buildings under contract for 75%/25% partner/mgr venture. C class, high cash flow (10 cap proforma), light rehab, reposition, refi/sell 3-5 yrs. 164 Units Tucson ($5.3m) . Excellent property management model allows reduce concessions and evictions, increase occupancy, increase rents. Experienced asset management in this market.

Please contact me if you have interest in this type of project.

Jeremy,

Welcome to BP. Its a great place to get started and learn a lot. I'm also an MD and now transitioning to full time multifamily real estate investing. I bought 38 units this year and more coming.

You are on the right track with knowing REITS are more like stocks than direct real estate investing. Syndicates are ideal for group participation with seasoned professionals and a good way to go. You can learn a lot from being part of the group. There are many groups to choose from. Brian Adams is a member here and gave a recent podcast you can hear it on this site.

Download any apartment investing book to learn the language of NOI, cap rates, and debt service ratios. Its not brain surgery...

Good Luck.

Reach out if you need more advice.

Jay

Thank you Jon and Israel,

Thank you both. Please bear with me as I finalize my contract details. Unexpectedly the contract is still pending. 

I apologize for the delay. I will update the posting with the important details as soon as I can. 

Sincerely,

Jay

Yes John

The property is c or b class outside of Tucson. 75% conventional bank mortgage, 20% Private Investor financing, 5% sponsor cash. there has been a contract delay so ironing that out. j

Dear Jared Vidales, thanks for your comment! there is an on-site manger and maintenance man. I plan to hire an experienced management company to oversee the on-site team.