All Forum Posts by: Joseph Bramante

Will be interesting to see how this tax reform the Reps are pushing will affect MF. I think it will only help since the Realtors association is up in arms about it claiming it will make home ownership less attractive by downplaying the interest write off. Sounds like good news to the MF industry.

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Rob L. Just joking of course but your always welcome to donate to the Hurricane Harvey Relief Fund.

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I wasn't investing back then. Maybe somebody else can chime in. @Mike Dymski @David Thompson

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Originally posted by @Account Closed:

Originally posted by @Mike Dymski:

Apartments did well during the last recession. Fannie Mae had less than a 1% default rate on their multifamily products. Residential lending tightened up and many people became renters...a trend that has continued. All economic cycles are different though and the next one will hit asset classes differently than the last one. If you purchase assets in good locations that appeal to the masses, you should be fine in many cycles. If you add value, that is another way to mitigate risk. And, as others have mentioned, some investors are increasing their amount of capital allocated to cash flowing assets and they are not as concerned with national market value swings.

Maybe people that buy apartments are better with money and numbers than the average home owner ???

When you are investing other people's money, you have to be.

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Originally posted by @Account Closed:

@Joseph Bramante I would not advertise that "everything gets tossed into capex" when you are selling a property .... Sounds like thats misrepresentation of a properties financials and performance, submit that to a bank as their basis for underwriting a loan and sounds like fraud.......

Easy there killer. I was obviously just exaggerating for theatrics. And when you submit to a bank, they use their own underwriting, regardless of what you put. so it really doesn't matter. They aren't stupid.

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Originally posted by @Michael Le:

Originally posted by @Joseph Bramante:

Originally posted by @Michael Le:

Originally posted by @Account Closed:

A good deal is a value add deal where you turn a$2.5 M property into a $5.0M property.

Ive never done one i just hear they are done all the time on BP podcasts.

Let me just point out that this is not a good deal but an unbelievable deal. If you bought a $2.5M property, the equity amount invested is likely something like $750k-1M. If you include the cash flow along with the profit from the sale, you're talking about 300% return.

Sorry Michael, that is no where close to 300%. More like 200% return excluding closing fee. $3M all in (assuming 500k rehab). 750k down. Refi at 3.75M and cash out 1.5M.

My greatest deal was a 26 unit purchased for 650k with 700k in rehab. Appraised for 3.4M with a 2.2M refi loan. Cashed out 207% return

We're all playing around with fake money anyway but why would you assume I invest the same way you do? What if I don't want to refinance but go for a full sale instead?

Because cash flow is king. Refi to get the pop and keep the property. If you sell, you get the one time pop but then have to pay tax and find something else to buy. But if you already had another project lined up, then sure. I see your point.

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push rents until the market pushes back

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He should raise his rents until his closing ratio on new leases is 0% for more than 2 weeks

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Originally posted by @Rob L.:

It's simple, the ones that cash flow.

As long as you don't fudge the numbers on your purchase when doing your pro forma then your should be protected.

Example, most multis are 100% occupied in our portfolio right now and have been for some time. But, we still budget for 8% vacancies or 92% occupancy.

FYI if your occ is 100% its is because your rents are too low. Increase your rent. Feel free to send me a consulting fee with all the money i just made you haha

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Freddie SBL is great, i would just recommend you do NOT use Arbor. I find their guys are overworked and you are just a number. They overpromise and underdeliver. Shorted me 300k on refi proceeds.

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All Forum Posts by: Joseph Bramante

Joseph Bramante has started 11 posts and replied 152 times.

Post: What is stopping you from investing in multifamily?

Post: What types of Apartment Complexes Weathered the Great Recession ?

Post: What types of Apartment Complexes Weathered the Great Recession ?

Post: What types of Apartment Complexes Weathered the Great Recession ?

Post: 48 unit under contract - am I forgetting anything?

Post: What is considered a "good deal" for multi-family/apt properties?

Post: What types of Apartment Complexes Weathered the Great Recession ?

Post: What types of Apartment Complexes Weathered the Great Recession ?

Post: What types of Apartment Complexes Weathered the Great Recession ?

Post: Freddie Mac Multifamily Loan Products