All Forum Posts by: Tj Hines

@Douglas Gratz

1. Developing small apartment 10-20 units....How does one do research on weather his location has a better than not chance of working out? (Take a look at the jobs in the area. Are jobs being created or are employers leaving? Is the area considered in the path of progress? How many other units are coming online in the area. In a lot of markets at the moment we are seeing hyper supply, be careful)

2. Just throwing random numbers if i built and it cost me 1 million, it being brand new would the bank let me get most of my money out (given all the numbers added up and it was fully leased)? If so does it work the same as residential? (Depends on how much equity is the bldg. Were you able to build a cheap nominal cost per sqft? Not sure if this would be the best situation to pull equity early)

3. Can i get the money upfront to build it instead? How? (You may be able to qualify for a construction loan and raise equity from investors. This will all depend on your track record.)

4. Lets say I am interested in an already existing complex, and I think I can install some new utilities of sorts that will end up saving a lot (charge parking, washing, etc), thus increasing its worth. But how can I see the current owners numbers? (Simply request for the owner to provide the T12, T6, or T3, which are none other technical terms for a P&L)

@Robert Stamper

1) when screening for section 8 tenants, what is more important? Income/rent or credit score (All 3 are important)

2) is it possible to get credit scores over 600 or 650 from section 8 tenants? (Yes it is possible, but more than likely this won't be the majority of the investor pool)

3) what are your minimum standards on income/rent and credit score? (I feel the standards are already low, because you're looking to do section 8)

4) do prior evictions and bankruptcies matter? (Absolutely it matters)

@Justin Kimmet, I would stick to deals that throw off some serious cash flow. Always buy for strong cash flow in this current market. Don't bank on appreciation at all. Buy below market value at wholesale prices. This way you have a lot of equity as cushion just in case the market heads the other way.

@John James not necessarily! This deal probably wouldn't work for a syndication. It's too small. I honestly would just structure this deal as a JV

@Tab Teehee lets connect. I'll inbox you

@Jean-Pierre Rice for smaller multis I would focus in my own backyard. They're easier to manage this way. You can farm for off market sellers in this area. You can buy a list from listsource with your exact criteria and start to market to these owners. Also join all of your local real estate clubs in the area. You can find them on meetup.com. They will have wholesalers there. Wholesalers are always coming across off market inventory they're looking to unload. Good luck

@John James simply approach the investor and let them know what you're looking to achieve. In most cases you should be able to carve out a piece of equity on the GP side for finding the deal. It could be 5-10%. This is a smart move to make. 

Hi @Robert Carlson! We are located in the Tampa Market. I can share some things with you about sub markets we are gauging. Feel free to inbox me so we can hop on the phone

@Kyle Smith there are many ways to get started. You can take the deal down yourself if you have the capital resources to do so. Or passively invest in a deal so you can get the experience to further down the rd lead your own syndications. You can raise money and deploy it into other peoples deals and get in that way. You can find a deal shop it to a well known operator and you can get in that way as well. I may be leaving some tips out. But good luck

@Kyle Forrester finding access to MLS would be the smartest thing to do to gauge what are properties similar comparable to unit size and condition of the properties are going for. Also, localized property managers can you give you a beat on this too as well. Good luck