All Forum Posts by: William Coet

@Natalie Cloutier  Congrats on building new!  What are your land costs? What are the rents on the four-plex?  Is your husband doing the labor on a daily basis and also acting as the GC while hiring subcontractors, or are you hiring employees?

If there are developers who aren't building, it would be interesting to learn the reasons that they are choosing not to build new right now.  Anything from land costs, labor costs, material costs. market saturation, financing challenges, etc.

Thanks

Interesting Update: Their current lease doesn't expire for another 6 months, and I haven't even discussed renewal with her, but she contacted me today to ask to renew their lease for another year (only four days after telling me this information).

Looking for ideas on how to handle this situation at a small multifamily property.  At this point I'm uncertain what, if anything, I can do legally.  The young female tenant is nervous because of odd behavior of a male tenant who lives in another unit at the same property (directly across the hall).  I do not think that the girl is not overreacting for being uncomfortable with the situation.  She lives with a boyfriend who is a football coach and who is more than capable of protecting her, but he is not always around.  It is when she is by herself that the uncomfortable situations happen.  On multiple occasions she has noticed him staring out his window at her when she is outside with their dogs. He once asked her if she could see him in his windows when she is out with the dogs.  He has said odd things to her like he is going to start suntanning in the nude in the backyard, and once told her that he knew her boyfriend was out of town for the weekend for a football game (and she doesn't think he is a fan of the football team). The guy has been dishonest with her and another set of tenants in attempts to pit them against one another for things he was responsible for.

I am seeking suggestions for how to handle this situation.

Thank you

Hello George,

Can you elaborate on what "relational capital" is and how you expressed your pre-intention to be active to your future partners?

Again, congrats on the completion of the project!

Hello,

I would like to get an equity loan with a 30 year term for a single family investment property.  The local banks I've contacted only offer up to 20 years.  Is there anywhere that I can find a 30 year term?

Thank you!

My biggest concern with a project like this would be maintaining quality residents over time (10-20 years down the road).  If you get a few bad apples, they can ruin it for everyone, and the construction type is not very soundproof so tenants can become discouraged and leave, leaving you in a position where you are forced to accept less desirable tenants.

What is the best way to prevent this from happening?  Are you establishing very strict rules?  Even with strict rules, if someone is playing music loudly or engaging in activities that others don't approve of, it can take weeks to resolve and in the meantime people are looking for other options.  

Thanks for the interesting post.  Are you operating the equipment for the site work and infrastructure yourself? 

As an update, I spoke with a realtor who does "alot" of fannie mae foreclosures and he said that fannie mae prefers a cash offer.  He said a financed offer usually means a slower closing.  It is ironic that they suddenly become concerned about closing speed after sitting on these houses for months and sometimes years.

where is the land?