All Forum Posts by: Michael Tempel

I am starting to manage commercial warehouse industrial properties and trying to understand what is typical of a management agreement and how this is different than multifamily?

@Aaron NA

I did this for a few years when I was younger, literally rent each room for 450-650 - 4 and made 500 over mortgage and got to meet some really cool people!

I couldn’t do it now, but you’ll have no problem finding renters.

Most of our owners are from out of state CA being a very common one, the economics just don't make sense their so our Midwest market does very well for them.   With the right team you can absolutely be successful out of state, sometimes even better than local on your own.   There is always risk, but key is the right team.   I do the same myself since you need boots on a the ground and look for A-Z solutions on buying, management and long term operating/growth strategies.

45 and currently 650 under management. Combination of single family (new and old), office, apartment buildings 80’s and new Developement/mixed use - some being built right now.

Goal is 2500 by 2024. Also became extremely active on brokerage side. Makes most of my revenue helping buy portfolios or selling high end SF homes.

We are managing a new building(s) in that area and the lease up has been fantastic.   Rents are still holding strong etc.  I think the best way is to always run comps as many different ways as possible, but I think that area is still a very strong market if that helps.   

I have an absolutely insane story, but would want to discuss offline.  Essentially got stuck working with a bad owner, dealt with city of Mpls…and was left with 200K in payable when bad owner left unpaid bills after closing.   Was on the news, paper(s) etc.   Came out just fine....but was something I couldn't of ever dreamed up in my worst nightmare.

Without questions in multiple syndication deals.  If you asked me 3 months ago I would say the stock market....everything I bought is up 150%!   One of the few times real estate wasn't as lucrative!

If they are not self managing it should be included and I have always seen this in the offerings I look at or have put together. 

I agree...marketplace is very limited.   There isn't a category for Property Management for example....that is pretty important to me :-)

How many units?   I like that area :-)