All Forum Posts by: Steve Lyman

@Alex Craig Thanks Alex!

@Jason Bott Thank you!

Hey All,

I am currently in the process of starting my own property management company. I own over 200 units now and have another 227 units under contract. We have given notice to the current 3rd party management team that we are going off on our own and kicking around the idea of doing 3rd party management ourselves for other operators. Quick insurance question.

What should I have as far as insurance? I’m thinking,

- Liability

- Workers Comp

- Fidelity Bond

- Errors and Omissions

Anything I’m missing?

Thanks

Steve

If you find a deal in Columbus with a 10% cap, buy it immediately! I agree with @Scott Mac, but you are correct, there are many businesses out there right now that have excellent margins.

Thanks for all the insight guys!

Thanks Jim!

Hi All, 

Looking for a program to create floor plans for my multifam units. What do you guys recommend? 

@Yonah Weiss & @Bernard Reisz 

Thank you guys so much! 

Hi all!

Happy 4th of July week! Question, my partners and I own 6 multi family properties, around 200 units total. We have multiple deals under contract now and are looking at other syndication money streams, including those individuals with self-directed IRA's.

Do we need to do anything in order to receive funds for someone else's IRA?

Thanks,

Steve Lyman

@Jeff Greenberg That’s a great point. I didn’t want my post to go too far into the weeds, but yes we do need to get paid for our time of putting the deal together, managing the property management, etc...

We will either dilute an investor’s equity, give them 8-9% for their $100k or take an acquisition fee.