All Forum Posts by: Max Fesser

Thank you, this is very helpful in understanding where the line in the sand stands. I was a restructuring banker in nyc for a couple of years until i found more interest in real estate. I now own multi-family, single family and student housing but haven't utilized any investor money. I'm looking at taking down bigger projects and a couple of my old co-workers are interested in jumping on board given my track record. 

I have the deals and I have interested investors but I am unsure how to structure the deal. I am planning on using 90-100% investor money in buy and hold opportunities. What returns do I give investors? An 8% preferred return? A change in equity ownership after 70% of their initial investment is returned to them? 

What have people found works best for them and their investors? Would be happy to speak with someone regarding their experience 

@Carl C. @Cynthia Ng

Hi Carl and Cynthia, I was wondering how your student rentals were doing, specifically your Marist rentals with the new suite student housing development. My old college roommate and I are about to close on a house in the area with the intention of renting it out to student's. Its a 6 bedroom so I was thinking of setting the rent at a flat 4k. That appears to be the going rate but have things changed? I know in two years a lot can change. 

I own another rental in Kingston but that isn't a student rental and requires minimum if any up keep. Both my partner and I live and work in NYC and graduated from college two years ago and hope to have the intention of not being present too often. Do you guys think that is possible? 

Also, we will be incurring holding costs until June when the student schedule begins. Carl -when you closed on your second property in August did you look into getting one semester tenants (i.e. potential students moving off campus their second semester or students transferring to Marist from other universities).

I really appreciate you guys starting this thread as both my partner and I tackle this new territory of student rentals. Looking forward to any and all advice!

Thanks,

Max