All Forum Posts by: Murray Clark

Hi Bigger Pockets Community,

We are actively looking to aquire building's that offer coliving conversion opportunities in both San Fran and other cities that offer lifestyle appeal.  Looking for intros to deals and good people we can collaborate or partner with. 

Look forward to connecting! 

Murray 

Neighbourgood 

Quote from @Alex Sinunu:

Quote from @Murray Clark:

Hi Bigger Pockets Community,

We currently manage 1000 odd doors across two cities in the co-living space in an opco/propco structure. Over 3.5 years we have built both brand, data and the customer experience required to help us scale the propco business across our targeted geographies. ROI on cost is circa 7-8% post ADU addition generating NAV of between 20-30%

and we are operating at close to 100% occupancy with a pipeline of circa $200m in line of site. 

To date we have self funded most of our developments and are fairly new to the private/institutional capital space.  We are looking for the best way to get introduced to family offices and or institutions who may have an interest in what we are doing.

How best should we go about doing so save for cold reach outs on Linkedin etc?

Thanks for your help and advice in advance!

Regards,

 Murray, 

Can you help me understand your strategy a bit better? Are you adding ADUs to existing multifamily and then refinancing? 

Alex

Hi Alex,

Thanks for your response. Yes we are doing exactly that. Acquiring homes that have ADU potential. Scraping the back yard or area allocated for the additional rooms and then driving a strong incremental yield on the addition. We then manage them as part of a month plus model to drive better yield as well and have Corporates accounts with large employers in the area.

If I can help with anything else at all just shout! 

Thank you so much Taylor! I will definately look into joining the events. I appreciate your response! 

Hi Bigger Pockets Community,

We currently manage 1000 odd doors across two cities in the co-living space in an opco/propco structure. Over 3.5 years we have built both brand, data and the customer experience required to help us scale the propco business across our targeted geographies. ROI on cost is circa 7-8% post ADU addition generating NAV of between 20-30%

and we are operating at close to 100% occupancy with a pipeline of circa $200m in line of site. 

To date we have self funded most of our developments and are fairly new to the private/institutional capital space.  We are looking for the best way to get introduced to family offices and or institutions who may have an interest in what we are doing.

How best should we go about doing so save for cold reach outs on Linkedin etc?

Thanks for your help and advice in advance!

Regards,

Hi Bigger Pockets Community,

We run a co-living and working company called Neighbourgood and are looking to acquire multi family assets, guesthouses and hotels in Miami and other lifestyle cities that offer value. 

I am trying to get a better feel for the market in regard to;

1. Building code/permits that relate to multi family investment and whether or not we are able to convert multi family acquisitions to STR's in our format (1 week to 3 months on average) and;

2. The sort of middle of the road yields the market is currently demanding for multi family investments in lifestyle cities/towns (I know it’s a general question but I’m just trying to get a better indication of the market right now). 

Thanks for your help!