All Forum Posts by: Murray Smith

Hi Tom,

We are doing a 169 unit in Madison, WI.  2 story buildings with clubhouse with workout room, billiards, kitchen, but no pool.  The project is $25 million so about $148,000 a unit.  Feel free to DM me if you want more specific details.

-Murray 

$130 a sqft seems low to me.  RS Means is a good source for project costs.  

@Michael Noto thank you.  I'll be using 7% for each in future calculations.  

@Jaysen Medhurst thank you.  I didn't realized mortgage rate were different (higher) for non-owner occupied properties. 

@Henry Kaldenbaugh thank you.  I'm glad I posted this analysis.  I'll definitely get the numbers firmed up next time.        

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Looking at my first property to BRRRR! I'd appreciate any feedback. Especially % on management, CapEX, and maintenance.

Hello BP! I’m Murray Smith. I joined BP a few months ago and wanted to introduce myself. I’m a Licensed Architect and Dwelling Contractor in Wisconsin. I have been working in design and construction for 16 years.

My goal in real estate is to build a portfolio that will allow me the freedom to spend more time with my wife and two young children. I'm interested in fix and flip, buy and hold using the BRRRR strategy, and working my way up to larger multifamily.

I also have an interest in design/build duplex in-fill (D/BRRR?) on vacant city lots. I'd love to hear from anyone else who has an option on this or from anyone who has done it successfully.

I’m looking forward to connecting