All Forum Posts by: Mike Dymski

It would be difficult to make a viable return on investment with that much vacancy at every turnover.

I would raise unrenovated rents to market as lease maturities occur, and renovate and increase rents as turnover occurs.  If that does not organically happen fast enough, I would give a couple of residents at a time the option to (1) stay in their current unit at renovated rent levels and perform renovations that can be done in an occupied unit (2) move into a renovated unit at renovated rent levels or (3) move out. I did that with a 30 unit community and most selected option 1.

The government grossly overstimulated the economy, increased the money supply by 40%, and caused record inflation (in housing, food, energy, everything).

Congrats on the continued success!  I may build a stayAPT hotel in Phoenix (hybrid hotel/apartment).

If anyone on the forums would like to be included in a daily "quote of the day" email, feel free to send me your email address.  No spam...I don't run a real estate business; so, this is just a daily email with a quote.

As Tony Robbins says, people move away from pain and towards pleasure.

Maybe "a friend" used your computer and impacted the algorithm...

The ATM industry is in a huge transition.  TR-31 (new mandatory security) requires substantial cap ex to meet regulatory requirements.  More importantly, Paramount (Prestige Fund), a large player in the industry has stopped distributions and communication is awful.  It appears they executed a purchase of ATMs and their funding fell through and between that acquisition and TR-31, they have a liquidity crunch.  I am hearing that a buyout from PE is in process but that is uncertain as of today.

The alternative is to just pay your mom's rent and let another owner deal with your siblings.  Either way, I recommend finding peace with what you can't control (whether that is eviction or them living in the mobile home); otherwise, you let the siblings keep winning if they impact your happiness.

Buying a property with a problem resident in a tenant friendly state is a risky proposition.  They may not leave.

The 2012 JOBS Act changed the industry.  It removed limits on advertising and allowed the use of online fund raising.

Separately, the overwhelming opinion on the forums is to remove the accredited investor limits.  I get criticized when I suggest that is a bad idea.