All Forum Posts by: Nick B.

NNN, apartments, private lending

I am an LP in 15 deals. If you have any specific questions, I'll be happy to answer. 

Do you have questions that have not been answered?

There are plenty of syndication related discussions on BP

Reserves - $350/unit/year

Utilities - check historical numbers for the subject property.

Repair & Maintenance - depends on the property condition. $250-300/unit/year for large properties if most units were recently upgraded.

Make Ready - $250-300/unit/year

Ask local brokers

Owner financing could be an option if the seller has no mortgage on that property. 

Exit cap rate is a guess. Nobody knows what it is going to be. 

It may make sense to price your exit over a range of cap rates. E.g., if today's rate is 5%, then price your exit between 5.5% and 6.5% (or 7.5%) in .1% increments. Then you'll see at what cap rate and holding period you start losing money. 

corporationwiki.com

opencorporates.com

SFR. Townhomes or condos come with additional high expense called HOA. Having to pay for it is half of the problem though. The other half is that they dictate how you operate your property.

HOA of $225/mo?

Interest rate of 0.8%? 

This is a bad deal. Do not look at condos unless you plan to buy an entire condo complex. 

Taxes can be obtained from the county appraisal web site. For insurance, call a few agents.