All Forum Posts by: Sam B.

@Joe White

Are there any good philly section 8 managers out there? I have a multi unit section 8 I want to buy but my current manager has no experience in it.

Hi Guys,  I was wondering if anyone had recommendations for a reputable Philadelphia property manager who do PHA Section 8.  I have a building I like that has Section 8 tenants, and my current PM and I don't have experience dealing with it.  Greatly appreciated!

@Joseph ODonovan

Hi Joseph could you provide me with the property manager you’re referring to? Thanks

@Daniel Haberkost

If a lender gives you 100% and you have no money and nothing to lose, what’s the risk? The loser in this scenario is the lender not the borrower in my opinion

@Bobby Shell

Congrats! Any thoughts with regard to the current recession and your timing? I guess I’ve been hesitant as I assume these deals were put under contract at pre corona prices but not sure.

@Brock Laramee

I’m not a developer but this isn’t value add, this is more straight up heavy redevelopment. The property looks like a shell. Looks like it’s under contract, but my first glance it looked expensive at asking price, $78 a ft

@Cj Powderhorn

Sounds like a lot of nickel and diming fees. I wouldn’t want to invest if I was given the chance.. if you want more fees, just charge a big back end fee that pays you if you’re successful. Lots of little fees give the impression that you’re in it for yourself and not interested in helping the investor grow their wealth. My view

@Ali Zaid

So far I haven’t seen many deals come out yet. Real estate usually lags public markets. some reits are trading down 50-70% on a ytd basis. You could just buy those and relax. And as another commenter said, and I am seeing some deals go through on tenx at good discounts.

@Kris Gupta

Hi Kris. I once looked at a Family Dollar as part of a multi tenant property. The family dollar, similar to yours had no term left in the lease and a 5 year option they had the option to sign. I went to the store multiple times to see if it was a store with decent traffic and it was. The company had also done an H2 renovation which was being done at sites to drive SSS growth. These factors made me confident to place an offer.

As said on here, FDO is not a superior credit. But it is part of Dollar Tree which is good. I think the bear case for FDO is that at some point management of Dollar tree gets fed up of trying to fix the brand and just sells it off to private equity which could lower the creditworthiness more. But that’s just speculation.

@Chris Connolly

STNL = single tenant net lease