All Forum Posts by: Omari Heflin

We own about 60 units here in Indianapolis, Including a small 10 unit multifamily property. We would love to work with you guys and provide some value 

We have about 60 units around Indy, Roughly 10 of them have become vacant due to tenant moving out, We've done turns on them and have considered selling them to offload some off the books. We understand we can still rent them out but not sure if we really want to yet !

Any suggestion you guys may have are welcome ! 

Hey guys we have about 40 properties in the Indianapolis area and we’re looking for a PHENOMENAL PM company. We’re looking for the best, we have a lot of volume going into 2022 and want to be able to maintain our portfolio easily as we grow !

Please let us know if you have any good recommendations, it’ll mean the world to us!

Hey guys we have about 40 properties in the Indianapolis area and we’re looking for a PHENOMENAL PM company. We’re looking for the best, we have a lot of volume going into 2022 and want to be able to maintain our portfolio easily as we grow ! 

Please let us know if you have any good recommendations, it’ll mean the world to us!

@Matt Horn My Man !! That makes more sense. I think I'll have a call with my bank today and get these numbers more concrete. We've BRRRR over 40 SFH units here in Indianapolis, just bit different when it comes to multifamily.

This def helps !!

@Brandon Beatty You mind sharing the calculator that you prefer for running deals through your analysis ?

@Brandon Beatty Ok thank you Brandon !

@Brandon Beatty

Thanks Brandon, my biggest issue was understanding the new purchase price of the asset 

@Adam Lacey 

Thank you so much for your input, absolute last question for you 

How are you coming up with a 5 cap rate just with this example ? I guess I’m looking for a tule If thumb

are you usually looking to buy at a 7+ cap and refi at a 5 cap (which is stabilized in the market) 

Hopefully my question makes sense 

Hey BP Family !!

I understand how to find the Noi, cap rate, price per door, and purchase price for multifamily. Where I'm getting stumped is knowing how much appreciation you forced from increasing rents and decreasing expenses to gain a new purchase price.

Example

Purchase: $1M

Down Payment: $300K (30% average)

Debt: $700,000

Units: 12

Cost per door: $83k

Rents: $1,000 per door (GOI = $12,000 per month x12 = $144,000)

NOI: $144,000 - $72,000 (50% for expenses is what I'm hearing) NOI = $72,000

Cap rate: NOI $72,000 / Price $1M = 7.2 cap

Let's say this is a value add opportunity and you're able to increase the rents by $200 per unit. Is that enough to BRRRR completely and pull all of your money back out? I appreciate all the help if you guys could go into DETAIL about your answer ! I'm not looking for a critique on the numbers, this is a very random scenario so I can get more comfortable with running numbers correctly and being confident I can BRRRR out, or atleast know what the value will be worth after renovations. I know this may be something simple to a lot of you but I'm having a brain fog moment and need help from the BP family !

All comments are welcomed if it pertains to helping me undersea nd my after repair value and what the bank would want me to be at after Reno

Love you guys !!