All Forum Posts by: Matt Von Bargen

Thanks Sarah! Troy I’ll send you a PM

I am a licensed salesperson in Ohio interested in obtaining licensure in South Carolina. Does anyone have recommendations for a brokerage to house my license at? All of my deals will either be personal or for my immediate family members that live in Charleston. I do not need any support in the way of marketing, office or other overhead. I am just looking for a place to house my license at as low of a split or annual cost as possible. 

Thanks! 

In my experience the assessed and FMVs are quite disconnected however, I would assume they grow the same over a 3-year period (ie the assessed value might remain unchanged for 3 years as FMVs increase, but that growth in year 3 at time of triennial will make up for it). 

Regarding #5, values are not frozen. You are paying tax on the land value while the improvement value is abated during the period. These values will likely increase over time as a result of triennial updates. 

Another important consideration with respect to property taxes in Franklin County is the consequences of a refinance. It is becoming increasingly common that municipalities will find recorded mortgages and use those to back into FMV with an assumed LTV of 70-80% and in turn increase your assessed value.

@Michael Baum I will PM you, thanks.

Ken- Not sure how the above was unclear, I am underwriting a potential acquisition of a residential property. The building has 50+ beds and as an alternative to traditional apartments I am trying to understand the economics of either an AirBnB or Co-Living type of use as compared to a traditional apartment building to determine if there is an alternate highest/best use for the asset. 



Originally posted by @Ken Latchers:

There's no guarantee the person you find on a forum  really knows as much as you think about this.  If you don't have short term rental experience,  I wouldn't rely on anyone but myself to become knowledgeable  before relying on someone else. Short term rental  is neither easy nor obvious  nor a simple  path to make money.

Originally posted by @Matt Von Bargen:

Thank- this is for acquisition diligence, not insurance or financing 

Thank- this is for acquisition diligence, not insurance or financing 

I am looking to connect with someone who has experience underwriting an AirBnB or Co-Living property. The asset in question has 50+ beds and is near an urban college campus. Looking to learn more about rates, occupancy and opex for these types of assets.

Hi BP Community! My name is Matt and I currently work in real estate investment banking in NYC (Think M&A and underwriting for REITs, large PE firms etc.). I am interested in learning about and getting into real estate investing with a short-term goal of owning/leasing either SFH or small multi family properties to learn the fundamentals and a long-term goal of pivoting into larger scale investments in multi-family/student housing, self-storage, and MHP. Geographically, I am primarily interested in the Columbus, Ohio area but also have an interest in Rochester, NY and Raleigh-Durham, NC as I have family ties as well as experience living in all of the above locations. Any advice or educational resources you found particularly helpful would be much appreciated! I have recently gotten into the BP podcast and some books, which have been very informative. Looking forward to connecting!