All Forum Posts by: Ryan Daigle

Happy to have you, @Jeffrey Donis

https://www.meetup.com/Multifa...

@Thomas Moran I have a 12-unit in Mebane that I can share financials for so you have some basis for comparison (obviously, location shouldn't be ignored, but it's a start).

Also, the metric I like to look at is RoC - return on cost. So purchase price, fees, rehab budget, etc... equals your total cost (very few properties you can just walk in and raise rents meaningfully without investing at least some money into). Divide your post-reno NOI by your total cost and that is your RoC. It's like cap rate, but takes into account more than just the purchase price.

If your RoC is 150bps higher than the projected exit cap, you probably have a good spread.

Happy to walk you through this type of analysis if you want, just DM me 👍

Hi @Casey Waters 👋

Happy to help where I can. I am a multifamily operator based out of Apex and am a co-owner on a 16-unit in Fayetteville (along with a 12 and 51 unit in other parts of NC). Message me if you'd like to talk and I we can arrange something.

@Jeff R. not yet, but it's something I'm planning on doing with a new 50-unit acquisition in Greensboro starting in the next few months so I've done some research on the topic.

What questions do you have?

@Jesse Daconta We exist - it's just really hard to find good deals around here! Although I continue to evaluate deals in Durham, there's not a whole lot of inventory and what comes to market is pretty inflated. Owners know they have a good thing and brokers aren't doing anything to dampen their mood.

I also do a lot of work in the Triad area. No, it's not as flashy as Durham or Raleigh, but there's more inventory and you can still take advantage of the upward economic and population trends of NC (and it has great renter affordability, something I think will continue to make those secondary NC areas strong in the coming years).

If I haven't turned you off yet, I'm happy to go into more detail and let you know what I'm doing in the area. Feel free to DM me if you're interested!

(and hello @Cameron Lee Brown 👋 - hope you're doing well)

@Joe Gee yes, using classes is what you want to do. As long as you are the sole member of your LLC (and obviously are for the properties in your personal name) all that income will be pass through to your individual return. So you can treat it as one accounting entity using classes to keep track of individual business concerns separately.

I am using this approach to track my umbrella company Flywheel Equity LLC and a property LLC for which I am the sole member. LLCs that have other manager/members, however, are kept in a separate LLC *and* quickbooks profile.

@Brian Geiger I use Michael Blank's SDA and find it to be commonly used and understood. He also has a series of videos that explain his approach.

@Billy C. you've identified why having high net worth partners in CRE is important. The lender wants to see that people with means are invested in the deal which can be hard for new investors.

Arizona is a great place to find strong multifamily markets. Phoenix/Mesa, Tucson, and others are all experiencing strong growth:

https://docs.google.com/spread...

Of course, that's no secret so you're likely to find some competition out there. Good luck!

But not a 9-unit? Ok! :)

Good luck with your hunt!