All Forum Posts by: Michael Dang

Aerators and low flow showerheads are cheap easy changes to conserve water.  Toilets have a longer payback as mentioned above.  I would research if the submarket support implementing RUBS on water and possibly trash.  Those are sources of other income.

100amps per unit should be fine.  I have a few like that.

Definitely for asset protection use an LLC for the asset and ensure with your lawyer that the LLC isn't regarded as a pass through entity to your personal name. Spend the time on creating a llc operating agreement, setup a llc bank account, and have periodic recorded company meetings (even if it's yourself) to make it harder for a lawsuit to go after your personal assets. I'm not a lawyer and do recommend you speak with an asset protection attorney.

Don't think you can get a 30 year loan on a commercial property.  At least I never heard of it.  Check with your lending institutions.  Most I've seen are 5, 7, and maybe 10 year loans amortized over 20 or 25yrs at local or regional banks.

Congratulations on your deal!

Bring in 2020 with s good start Turner! Welcome to BP.  

Merry Christmas Ben and welcome to BP!.  This is a great place to immerse yourself with Real estate knowledge and make lots of new connections.

I don't mind Class C at all.  

Did you factor in the vacancy % for that submarket and reserves per unit?  

Goal is to acquire one or more class b or c multifamily properties that are 20 units or more.

Private lending is a good option.  Check out Quest Trust.  Good way to network with others.  THey have regular meetings.

Invested in one syndication with Ashcroft. Still to early to tell but meet Joe and he's very personable. Like!

For smaller properties in class c space, your best bet for financing is with local banks who know the submarket.  Develop your business relationship with them as they can give you favorable terms the more experience you have with them.

Maybe contact a local commercial interior designer. 

If you PM me, I have one to recommend as BP doesn't let us post vendor referrals.