All Forum Posts by: Account Closed

@Ryan Davis

Hi Ryan, I am just at the preliminary stage of analyzing this property which is in a different state that I live in. In fact, my broker just sent it to me earlier today to review. 

I was just looking to see if there was some sort of a calculation that can tell me quickly what the property tax would be, roughly, on this property. From my initial analysis, it seems a bit high to me so I wanted to run it through a "rule of thumb" calculation, if there was any. Then, I'll know if i should pursue further or pass.

Thanks!

Hi BP, could someone please provide a quick way to calculate (roughly) how much property tax assessment be for a multifamily apartment building.

Hi @Kusum Chanrai 

Congrats on the contract! Email me and i'll send you a copy I use. 

Best of luck

@Joe White Thanks Joe. I reached out to you via email. Much appreciated! 

Hello BP!

Could someone please provide a referral to me for a PM company in Philadelphia that has experience with 50+ units’ multifamily apartments? Please also provide your opinion as to their performance, the good and the bad. What are their typical:

• management fees,
• leasing fees, and
• How do they handle repair requests and their charging for repair work?

Thanks!

Thank you all for your help!

Hi BP - 

I have quite a few wholesaling deals, but I am fairly new in the multifamily world. I am trying to syndicate my deals. The dilemma I am facing is this: Most of the lenders I have spoken to requires me to have multifamily EXPERIENCE in order to even qualify for the loan. I can meet their net worth and liquidity requirements with my investors with no issues, its just the experience I have trouble covering. Who can I go to help with this? I attended many REI meetups, but yet to find someone with multifamily investments or experience. In fact, the lender has also told me that if I am looking into a 50 unit property, I would need someone with experience in 50 units or more; but not less than 50 units. How can I get around this experience issue? Where else can I turn to? Thanks guys!

I plan on doing multiple syndications over a period of time. I want to create an LLC that I can use to be the "face" of my syndication activity and be used as my primary brand in my marketing packages, but I don't want to keep my assets under that LLC. In other words, I want to use the brand name when I place a building under contract and then assign ownership under a new LLC. How can I go about doing this? Also, since my brand LLC wont hold any assets, do I still need to create a bank acct or pay taxes? Can someone please walk me through this process?

Thanks in advance!

@Robbie Reutzel

Hi Robbie - How do you go about finding upcoming balloon payments, and evictions? Where do I need to go or who do I need to contact to find this information in my market?

@Arvin K.  

Arvin, Consider the Freddie Mac Small Balance loan program. 

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&so...

Speak to a few Freddie Mac SBL lenders and they will be able to guide you better when you give them your specific information.