All Forum Posts by: Michael Tempel

Sure to all, just send me a message so I don't forget.   

I have a few that are great to work with.   I can e-mail them over.    

Normally that isn't unrealistic, but the MF market is very strong/expensive right now.  It also depends on what area you are looking.   If it is a nice area duplexes will go for quite a bit, they are easy entry assets so there are a lot of buyers to compete with that will drive values up.   On the positive side they are easy to sell for higher values. 

Personally I would buy a duplex over a Tri or fourplex for this reason.   

I already have commercial contracts in place, but am trying to create a HOA/Association and Residential Management Contract.

Does anyone have a good system for putting this together? I have an attorney etc., but feel like they are focused more on the larger commercial contracts. It just doesn't fit for single family owners and HOA's where the services are much different.

Any thoughts?

I don't know if they can refuse to present an offer.  As a broker in Minnesota my understanding is you have to present offers asap.  I could be wrong since I mainly manage properties.

Give me a call tomorrow.  I am putting insurance together on 6 communities in MN and can offer a few contacts.   

I agree with everyone here, but believe going as big as possible with a plan is the way to go.   Make sure you have great partnerships in order since managing a larger asset can make or break your future wealth.   I normally act as the partner locating, structuring, value add renovations and overall manage acquisition targets.

Those targets are often bought from owners that bought too big without a plan or partnership in place.  It can be a big mistake if you don't have a good plan in place....if you do, the sky is the limit!

We already contact owners to find great off market deals, but I wanted to see if anyone had advice on how to be most effective and what process to follow? We focus on 12 to 250 unit properties. Also other options like banks etc. are of interest. We are in a strong rental market. I know there has to be some great ideas on BP! Also always interested in working with someone that is great at calling on owners.

Sounds about right.   

Brandon,

I would love to show you at least one of our properties.   Feel free to contact me using this or my info in the signature.  We are in Minnesota and have properties in 5 cities in the area.