All Forum Posts by: Mikey Kay

I am looking to put together a syndicated real estate deal. After meeting my lawyer he suggest I talk to others to see how they have structured there deals.

Example: % of acquisitions fee, % mgmt fee, % they took as part of the deal, Did you put any of your own money in the deal if so how much?

Any help is much appreciated

I think it depends on the demand, 146 units might be a good thing. If the demand is higher then 146 units that they are offering, then you should have no problem.

I am sure they are going to charge a premium for this new housing and every student wont be able to afford it.

I think you should be positive and market your rental aggressivly and you will do just fine.

I have been in student housing for a while and love it. Where I am, the university does not have enough housing! The demand is def there for renters. In a bad market you are always going to have tenants. The only down side is (late payments, kids that are obnoxious ect.)

I have learned not to have the parents on the lease because then the parents tend to call you and complain. If the parents are not on it then the kids have to call and I do not have to speak to the parents who are sometimes (lawyers who like to threaten legal action EVERY TIME).

IF the deal makes sense thats great, also go to the college and see how strong it is . Do they offer housing? What are rents in the area? How are they doing financially? Do they have a masters program? state school? do your due diligence before hand.

good luck and let me know if you need anymore help

Looks good except for #7, you should already know the taxes, rent roll, ect. prior to putting a bid on the property.

Otherwise yes you look like you are on the right track!

Good luck

That would be great Ill send you a private message with my email address thanks!

Time is huge... I would do more deals but I also take care of my current properties. So it is hard to do both...

Any excel wiz's on this site? We should come up with a great excel model to analyze deals.

my fave: " dont believe anything you hear and only half of what you see"

I believe in any real estate deal you should always have your guard up, ask a ton of questions, go with your gut, do a ton of research (in groups, on deals, dealing with investors ect.)

usually people wont take you seriously after a while. Also the Realtor who is putting in the bid for you is going to lose his credibility by letting you put in crazy offers.

I work with my tenants:

1. I ask them 5 months before if they are looking to move or not.

2. If they dont want to move I make them resign asap and do not wait till the contract ends, I just void the old lease and make a new one

3. If they do want to move then let them know you will be showing the apt and give them notice every time you have an appointment set up. Most people understand that you cant afford to have an empty apt.

4. The month 2 Month is risky because even though you collect more rent you are still at risk of having a vacancy at any given time.

good luck!