All Forum Posts by: Nicholas B.

A fourplex at a ~400k price would have rents closer to 2800-3200/month (700-800 rentals x 4). With improvements you can often get the rents higher.

I'm from NYC too! Moved to Vegas in 2011 to start buying real estate. Started in Vegas with SFR than bought my first MF in 2015. It did so well I 1031'ed all my SFRs into MF successfully (12 houses each one 1031'ed. Still can't believe I managed it). It's a mix of land, fourplexes and larger. In the middle of refinancing all the properties right now with a few different lenders to continue buying but the market right now is a bit insane...

You don't need to stick to A class to get places rented easily. 400k could get you a decent strong C class fourplex. Cap rates are higher than an SFR and with proper renovations you could turn a C class into a B class.

Anyone know the cost to install a charging port assuming the electric panel is very close to the parking spot (within 10 feet). I'm considering it for a 20 unit multifamily.

I'm a multifamily investor, was an all cash buyer and more recently started financing and refinancing. 1-2 million dollar loan amounts in several different portfolios.100 units total.

The following has been my experience with every loan, every single lender, and I'm wondering if this is normal?

Attorney reviews documents, there are dozens of comments regarding terms that let the lender fairly easily call the loan on a variety of technicalities. There are also terms that waive statute of limitations, extend certain liabilities in perpetuity, as well as various language that is very one sided to the lender. 

The response from the lenders has invariably been that the docs are non-negotiable. The response from the mortgage brokers is that most borrowers don't even try to negotiate the docs. 

My favorite example is a promissory note that had as a first sentence that the lender may call the note due at any time for any reason. Non-negotiable! 

How normal is this?

I 2nd Ed Kania with Southern Nevada Evictions (and Donna at the office is fantastic too - very responsive and knowledgeable). Karsaz Law is good too - they seem very well connected though they aren't easy to get in contact with.

I just logged into BP for the first time in months and saw this post, I'll be there too!

same as April 1 roughly, a few new tenants so the rents are slightly skewed but April 1 vs May 1 makes me think I will continue to have good collections this month.

There's an article in Costar (subscription only) that says Tricon Capital Group (owner of 32,000 SFR rentals) has collected 80%-85% with more expected still. Typical months for them is 85%-90% at this point. They said 1% of SFR and 3% of MF has asked for a deferral plan.

@Jay Hinrichs Because the headline makes it sound like there is a 31% drop in rent collections year over year when the true percent is no more than 13% even if you ignore the Sunday issue I mentioned. 

I'm pretty happily surprised to see that collections here seem great but since few were laid off in March that make's some sense...May collections may be tougher for people with rentals above the $1500-$2000 mark since enhanced unemployment maxes out to around 1k/week for most.