All Forum Posts by: Lee Nestlerode

I thought the US Banks didn’t have much exposure to energy this time around. My understanding is Private Equity is a much larger player in the loan markets this time around.

@Mark S.

Thanks Mark. Who did you end up using for background checks? Have some concerns about the completeness of the online $75 check, but maybe I am being paranoid.

I spoke with a company and they wanted $2,500 per partner, which is not going to happen.

@John Casmon

I did not attend this year, hope to next year. Every private equity podcast I listen to talks about having dry powder.

In the context of the conference, was it suggested that we are headed for a down turn? Assume so as that is the only time I can think of that cash becomes important.

Thanks.

@Dan LaFontaine

Thanks Dan, yes checking out the companies Sam listed.

@Blake LaRussa

Like all property specific questions, it depends. I completely enjoyed mine.

I owned a duplex built around the same time in Chicago. Depends completely on the structure and how it was maintained.

Items I had to address (planned for most):

Plumbing, Electric, Roof, tuck pointing, boiler.

Ran into asbestos which I did not address or disturb, can be fairly expensive to remediate.

Windows had already been completed but insulation in the house was not great. Was aware of both.

These are big capex items you should plan for and be prepared to address.

@Yannik Cudjoe-Virgil

Thanks. Any service you like to do the background checks? Many of the sites i have looked at, just appear to be affiliate links to various back ground check sites which does give me a high degree of confidence in the recommendations.

@Kay Kay Singh

Thanks! What is the question you ask?

@Sam Bates thanks Sam!

Hi All,

I have been looking into investing in a apartment syndication. Do any investors run background checks on the general partners? If so who do you use?

Thanks.

@Steven Schaad

The problem I have with HOAs is they can put restrictions on rentals, which if you plan to rent out the condo can obviously be an issue. One of the units I was looking to pick up had a wait list to rent out, I estimated it would take 2 year before I would be able to rent out.

Also not all HOAs are created equal, since the are run by the residents. Some have good management and good reserves, others do not. I always used to ask for last 12 months of meeting minutes to get a flavor for discussions + financials to see reserves and budgets.