All Forum Posts by: Ravi K.

Greetings, Any very experienced STR investors that own more than 25 units (currently OR in the past)?

Considering to partner with someone who has a ton of experience in the STR space (and ideally local to JAX or nearby city).

Please hit me up to explore further.

Thanks in Adv.

Ravi.

@Jeffrey Donis I can't talk about it too much on this forum as I am afraid moderators would block this thread, but at a very high level, I currently have three projects in Austin (one build2rent 168 unit duplexes, one mixed-use 370 apartment units+60K sq ft commercial, and the third one with 1600 apartment units+1M sq ft commercial+Hotel+Crystal Lagoon). 

Yup, San Antonio is growing pretty good...We might take a serious look at buying some multi-family properties there in the next couple of quarters!

I hope all my fellow BP community are safe and thriving. I have been part of BP for over 8+ years with very minimal activity as It's been super busy building my multifamily portfolio and barely got a chance to log in to BP!! Sorry!!

With that said, I am trying to poll and compare notes on what are people's thoughts on what's going on in Austin and what are you doing to make sure your deals are having enough risk mitigations. 

My thoughts: Austin still an amazing market even though prices are a bit crazy (maybe super crazy;) if you are able to find good deals in the right location! PLEASE YOUR THOUGHTS!

- Don't go overbidding like many others are doing, buy off-market below their intrinsic value with a room of at least $25K/door upside with long-term vision vs. short term vision. Hey!, It worked for Warren Buffet (buy at a discount and below the intrinsic value of a company and then add value to further improve/increase) and it applies to real estate as well.

- I would say focus on high-income sub-markets (For Austin North/North-West, but it applies to any market)

- Don't try to do land-banking unless you have 10+ years of holding as you never know the market cycles!

- Focus on the right asset classes, types and follow the trends (ex. Right now, millennials and even retiring people are preferring mixed-use developments where they can walk to work, restaurants, shopping etc)...Pick the right focus that works for you.

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Also, let's share any exciting projects you may be working on at this moment in the Austin, TX market/sub-market (please don't post all details and links, etc, just very high level as moderators might block the thread treating it as marketing your deal!!

- I am doing an exciting 2000+ unit mixed-use development project(actually a combination of three projects) in the Austin metro with unique features like crystal lagoon etc! 

Good luck everyone! and let's stay safe.

Hello Investors! Any one used TAA (Texas Apartments Association) lease along with Appfolio software? It does not look like there is any easy way to integrate this other than copy/pasting TAA lease (of course, after joining TAA by paying dues and assuming this is OK!... Is this?). Any one has done this? Pros & Cons of this standing in court when you send a tenant for eviction?

I don't prefer to use Bluemoon click&lease software as you end-up maintaining two separate softwares and also the cost of bluemoon!!

Thoughts? Any other options? 

Thanks in advance.

PS: This is for 200+ unit apartment complex in TX, we syndicated and closed very recently.

Thanks Jon. We spoke on the phone since I posted this thread. As per our phone conversation let's explore further on various fronts in the very near future. Thanks again.

Hello, I am in the process of finalizing a deal in East Austin (Texas), that involves building a 30 unit luxury condo's and wanted to get local investor input who have built MFR (Apartments / Condo's / Duplex / Four-plexes) in that area [East Austin / Downtown or South Austin].

Please let me know if any one has done MFR deals in 78702 area in the last 12 to 24 months and willing to spend 15mins to bounce some specific details. Thanks in advance and really appreciate 15mins of your time.

-Ravi.

@Jonharold Cicero

Recently started this initiative and so far I only got two quotes. I would like to get at least two more quotes and also have not talked to any investor who have done this successfully in the recent past! More over I have not completed complete analysis...might take another month or so before I can close this (assuming no major surprises found).

@Tanya F. 

It's 100 units and installation is going to be much bigger, I heard it might be around 150KW! I had 5KW on my single family roof...FYI

Thanks @Jd Martin and @Michael Paris

I have done solar four three years ago on my personal residence in Austin, TX. After Fed 30%, Local utility company huge rebate personally I paid less than $4K from my pocket for $23K+ installation and my ROI was 1.5 years! So it was a no-brainer for me to go with it and it's working great!

This multifamily bldg is in FL and there are no utility company rebates, so my ROI is going to be 5 to 7 years (considering FREE new roof, Fed 30% tax break, 60% accelerated depreciation on year1 with rest in remaining 4-5 years).

Simple math why this should work is - I am putting zero dollars from my pocket and getting new roof and ALL financing cost is covered by electricity generated by solar panels...net-net, zero impact on my bottom line and with in 5 years the value of my investment is increased by almost $300K++ because of new roof and solar electricity!!

Love to hear if some one has done some thing like this in the last year or two!! Thanks again.