All Forum Posts by: Mallikarjun Reddy Pateel

@Jonathan Klemm hey Jonathan, spoke with Listing agent. looks like they recently renovated the whole building and no longer fits into sellers investment criteria. and they wanted to leave it vacant for their next buyer so they can put their ideal tenants by themselves. 

Hello Chicago Investors,

I'm Looking to Invest in Chicago, identified a Property in North Lawndale area wanted to get some Locals feedback about the area? it's 10+ units around 9 Cap rate. property is recently renovated and complete vacant. Looking it as a stable Cashflow.

1.How easy is it to fill the vacancies in the area?

2.How do i check what section 8 is paying for in this particular Neighborhood for given bed & bath?

3. I noticed High cap rates in Chicago, is high cap rates is there a lack of demand? anything to be aware of? I appreciate any Input on this. Thanks!

if anyone was successful managing Multifamily minimum of 10+ units,  share your story How's it going for you. 

i'm planning to do on my Next acquisition not just to save money also to get that hands on experience. it will be my full time job. what software do you recommend to automate the whole process and eliminate as much as Humanly work. such as rent collections, accounting, due notices, tenants inputting repairs going directly to chosen handymans. Thank you!!

@Dennis Yosco Hey dennis, I come from Hospitality Background. previously worked with Marriott Hotels. I have not closed on any deals yet. working on 2 Big Multifamily Projects 50+ Units. working with Investors as more of a GP.

Pretty much i also target same returns as you mentioned. 

Hello fellow Investors, My name is Arjun and I'm 23 just getting started in CREI. I live in Northern NJ. I will be Focusing in NY/NJ Multifamily 10+ units Value add. asking for your Input if anyone in the same Space what's the minimum Returns you want to make it a deal as Passive Investor( IRR/COC/Cap rates/future appreciation) to get a better Understanding of these Markets.

Love to Connect with someone who's the same Space. I do have NY RE License. I'm Tech Savvy, I do have Good Underwriting skills, Social Media Marketing. Looking to partner with Seasonal Investors who does Active Multifamily and Looking to level up your Marketing or adopt to New technology i will be happy to help each other out. in Return I expect Mentorship or Compensation for my Value add. Happy to setup a Call. Let me know. Thanks!!! 

@Taylor L. so there is no exceptions even if the Appraiser comes with the Fair Market rents?

I think it's Probably takes 6-12 Months to achieve Market rents. that's a Good Point to factor in my effective rent into Credit loss or loss to lease in my First year. Thanks for the input @Rick Martin

Hi, I'm currently Underwriting a deal. Rents are below market value. I don't have to do any rehab I can Increase the rents as is. My question is do i still underwrite the NOI, Cap rate for current rents or Market rents(which increase my NOI 20%)?

Hi, I'm currently Underwriting a deal. Rents are below market value. I don't have to do any rehab I can Increase the rents as is. My question is do i still underwrite the NOI, Cap rate for current rents or Market rents(which increase my NOI 20%)? How does lenders see it for LTV purpose

@Rick Martin Hey rick as matt mentioned in the Previous Comment if Interest rates rise is the effect of Inflation not the cause does that also Increase Property Prices? or still decrease?