All Forum Posts by: Kareem Ghuneim

Hey guys,

So I manage multifamily deals (16+ units). We had a big of an issue when my property manager didn't realize that I purchased our property which included fridges in all units. He operated as if we didn't own those.

I have been making upgrades and improvements on each unit as it turns, and I was curious what tools, or management software you guys use to track your capex expenditures for your property? That way, you can always glance and your report and see what upgrades/features that particular unit has.

Thanks!

Hey guys. I would love some guidance on this, as this is the first time I have encountered this situation.

A seller's broker (I have purchased a 16 unit apartment from this broker before) is trying to get me to sign a CSA that has me paying out 5-6% of the sale price. I am the buyer. The CSA only pertains to this property. 

I don't know much about this deal, other than it is in a market I like, and it is a 16 unit apartment complex. They won't release it to me without me signing a CA and a CSA. He says he has another buyer on it already that is interested.

Have any of you encountered this situation? Should I sign the CSA? 

Thank you, guys!

@Robert C.

Hey Robert. Thanks! I assume this logic would also apply for the interior lights as well, correct?

Hey guys. I just took over a 16-unit apartment complex a few months ago, and rehab is going well. My plan for this property is to increase NOI so I can refinance over the next couple of years. So I am really trying to cut maintenance expenses.

We have a vacancy on the second floor that has some old carpet that needs to be tossed. Instead of replacing it with more carpet which could be costly during turnover, I am putting in some luxury vinyl planks instead. From what I understand, noise might be an issue, but my rationale was it would be more beneficial to save $ during turnover because of the vinyl instead of worrying about noise and carpet. Although, I am keeping the carpet in the upstairs bedrooms.

Thanks for taking the time reading and responding! What are your thoughts?

Hey Brandon. This home was built in 2006, so it’s in pretty good condition. I put $20,000k in repairs, as I figured I would need around $10,000 for updating each unit to bring up the rents.

I was planning on analyzing the capex after my inspection if we go under contract. 

That’s a great point! I did plan on getting an investor loan. So I’ll go ahead and adjust the interest rate on that.  Thanks so much for the insight.

Hey guys. This is my first time using the BRRRR calculator. This is a duplex that I am considering purchasing, and I tried to be as conservative as possible. Correct me if I am wrong, but for what I am seeing is I won't be making much money on the refinance, correct?

Thank you all for your time! It's truly appreciated and I hope to be able to reciprocate in the future!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hey guys. This question is for my fellow owners. I currently own a 16 unit apartment complex, and I’m looking to enhance the curb appeal, specifically at night. The building is pretty dark at night, as many of the lights on the building aren’t working. I plan to get them up and running this week.

Obviously I plan to use LEDs to keep costs down. So I’m trying to decide between using the LED lights that don’t have bulbs, or should I just stick to the LED bulbs. Any thoughts on which might be better long term?

Thanks!