All Forum Posts by: Ryan Short

@Dane Tortalita he also needs to get rid of all shady or drug using tenants. This would be a perfect time to renovate these units and raise rents. Which obviously raises his property value and NOI, he wins no matter what happens if he adds more value to his building.

@Dane Tortalita there is a lot of things that can be done to help the current situation. First upgrade security and have camera working or non working at every entrance and every corner of the building. Then have research what the best property management companies do for there large complex’s. This will give him and you tips on what to do better. There is probably so many ways he could be adding value to this under managed asset. His he raising rents yearly? Is he charging his tenants for utilities with a the RUBS systems or is everything separately metered? I love looking into the financials on deals and love solving problems. Shoot me a message of any problems he has and I’ll try to help out if I can.

@Marie D. Make sure you use dehumidifiers and fans to dry out the water under the floor. If any of the water goes near any of the edges on any floating floor, the water is now under your floor. Depending on the size of the flood, the water will not go away by itself unless a dehumidifier is brought in. It will turn into a bad situation if the water is on top of a subfloor. Concrete will absorb the water or it will evaporate if it is a small amount.

@Marvin Meng I have been using Cozy for about 4 years now for both of my properties. It is a good platform for 20 units or less. Allows tenants to pay with a debit card or credit card. You can pay $2.99 a month for each unit if you want the rent 2 or 3 days earlier than usual. Rent takes about 5 days to be deposited into your bank account. Anything higher than 20 units is alittle stressful. Appfolio or Buildium are stronger options for larger portfolios from what I have heard.

@Jerryll Noorden in my opinion it does work. One lead can make me anywhere from $50k to $300k. If I spend $500 on so many leads and get 1 or 2 properties, don’t you think it’s worth the money invested? It just depends on your investment strategy. I wouldn’t use it if it was my only option but definitely worth it to find off market 10-50 unit deals that are tough to find

The 12% Coc is possible, but all the other high expense percentages you have are what lowers the coc and overall return. If you lower a few things your numbers will be attainable and more realistic.

@Jacob Ashley you can find that on the back end of a BRRR deal and probably be able to beat those numbers. If your looking to get that on the purchase I think it's a little unreasonable unless your buying in 11 cap areas. This is where you find the worst situations that will have you wishing you stayed with your day job. A lot of people who post awesome numbers post the back end of a BRRR deal. After you renovate and raise rents the deal will look a lot better.

My goal for 2020 is to purchase and finish another BRRR investment property that is between 8-30 units. I just finished a 7 unit BRRR property within the last 6 months. I work a full time job currently and would love to invest in real estate full time by the end of 2020. Real estate is the best asset class and investment in the world hands down. I am biased because it is my passion/hobby/career. I honestly do not consider it work when I am doing anything to do with real estate investing and I am grateful for that.🙏🤑😃

@Jim Piekos I always ask for security deposit equal to one month rent and then collect the first months rent. Most tenants live paycheck to paycheck so you are cutting your tenant pool by 2/3 when asking for 3 months of rent and then more on top. Lower the rent update your listing with new pictures that are edited and top quality lighting.

@Adekunle Ilori this was a local deal in MA. Sorry I did not notice you connected on this until now.