All Forum Posts by: Jordan Butz

I'm convinced that most people could do a better job at managing tenants than I. For me, I just find it easier to wrap your head around just managing 1-2 people rather than trying to do everything that they are supposed to do but with multiple units. What are the best ways to screen potential property management companies to determine IF they are going to be a great fit into your system? Are there any crucial and specific questions that you all aim to ask in an interview with them?

Thank you all so much! You all are the best!

@Jeff Kehl yeah i imagine it is definitely different from Chicago! What brought you into Rome? Are you blowing up the multifamily scene there? Huntsville is a great place with a lot of opportunity happening with all of the corporations doubling down and new ones moving in and 3 universities in the area. Right now I'm trying to save up for a down payment on my first fourplex in the area and narrowing my search down to a few neighborhoods and not an entire city

@Joel Owens you are absolutely right about the fact on retail malls. All of the malls with belks, dilliards and such with all of the other filler nonsense stores are slowly starting to sizzle out.

Going to Charlotte for an example, because I used to live there for awhile, Most of the huge malls are slowly starting to fade away and the only one that is still doing strong is South Park Mall most likely because it is in such a prime location and new high-end places are being built around it to revitalize the area.

Now Charlotte has just put a huge outlet mall in that has everything in it nestled outside of 485 and 85 and the whole area is being developed around these more desirable retail destinations. 

I believe when it does come to these open air malls it is all about the location and the better retail experience they do deliver than being "stuck inside all day" shopping.

I guess with anything in life there are pros and cons to both decisions

@Jeff Kehl Do you live in Rome? I used to go to school over at Shorter University there. My initial thoughts was to shoot straight for commercial multi but more or less was looking into better approaches to diversifying a CRE portfolio and not just have to try to rely on one way of breaking into CRE. Although the main focus would be multifamily. I do really like the idea of re-positioning a mall like the way it was done by the owner in Orlando. Essentially it is an outlet mall with restaurants, bars, and entertainment?

@Priyanshu Adathakkar oh I know I definitely would! What is your favorite avenue for CREI and why?

Hello BP! I am reaching out to everyone because I wanted to hear about the different avenues for investing in commercial and what they were. Is there anything besides multifamily to pursue? What has been the historically best type? What were some of the strategies it takes to get a property and the path to get into that position to be able to make such a move? background: currently living in Huntsville, AL and loving the huge diversity and increase in spending in the city

@Chingju Hu My only 2 cents here is that you do not quit your job as soon as you make that much in passive. I would suggest 2x-3x your income and this way you are not losing out on a big factor which is the compound interest of your properties. Good Luck!!!

@Brian Garrett It was built in '84 but nothing has happened to the building since '15 

Im in the process of getting to work on getting some bids from GC's and the plan right now is to shop around and get as many free estimates as i can. i was expecting the estimates to be rather high but the first estimate came rather high, almost what some of the fourplex's are going for. My question is 

1. On severely distressed properties (hasn't been touched since 2015) how low of an offer do you propose?

2. What do you want your rehabs to cost? and what would be some of the easiest things to do yourself to save money?

3. How much net profit do you look for? ARV-(purchase+rehab cost)=X

@Tobias Falzone thanks! I guess it is just looking at this 1 distressed property is what makes me just prejudge the deal a little bit. and YES about the precautions!! I think that is what makes me worried is that if I do or am going through the process of rehabbing the place and i get 30-99% through it and some kids come through again and put me back to square one