All Forum Posts by: Stephen Jones

@Arn Cenedella

Yes. Correct. Sell to buy the 100 units.

I don’t think I will have any issues selling my portfolio at the price that I want, I have already done a little leg work on that end and called a few investors whom I know and floated that I could potentially be selling.

Really appreciate your feedback!

BP,

I have a multifamily portfolio of 42 units. When I begin my real estate journey, my goal was always to scale my business and scale is as quickly and as wisely as I could. I now have an opportunity to scale my number of doors and I would just like a little advice on people who have had experience with selling their portfolio in exchange for a larger/bigger asset. My current portfolio does well, is in good locations (I would say B areas) and operates just fine. It consists of a 12 unit, 16 unit, 8 unit and a 6 unit. All nearby each other with the exception of the 8 unit property. Rent roll is good, not any huge expenses that I've had to deal with etc. 

The asset that I am currently looking at is in a town that isn't the very best, but not the very worst either. With that being said, it is on the outskirts of town, next to a major highway, fast food, grocery store in backyard, you can spit on Wal mart from there, across the street from a nice gym, etc. It is a property that a multifamily real estate investor dreams of (An actual apartment complex). It has its own office, laundry facilities, BBQ grills around the perimeter, etc. The exterior of the property is also extremely well kept. It consists of 1 beds, 2 beds, and 3 beds. I am yet to enter any of the units as we are still in the early stages of the process, but from what Ive seen from the numbers so far, they seem to run right. 

I know the information I've gave you today is fairly brief, but I just wanted to see if anyone here on BP has had an experience like this on this big of a scale? If not, any feedback or advice would be greatly appreciated! Thank you!

@Drew Sygit

Not necessarily. It is in a much better location.

@Drew Sygit

So you are saying to pull the trigger? Even if this could potentially be a depreciating asset?

@Khoi Le

Thanks for the feedback man. There are currently 6 tenants who are delinquent on their rent. But like I said, it has been completely mismanaged and I think my property management, with me included, could clean that up real quick.

@Bob Willis

Love this idea and I love the idea of a partnership, but unfortunately my wife is not on board for a partnership, therefore that leaves me with trying to tackle this project on my own. 

@Gaudys Rivas

I am leaning that way. Thank you for your feedback!

@Bob Willis

By syndicate you mean partnership? Or raising money?

@Eric Gerakos

Great point of view there. Thanks for sharing!

@Kyle Curtin

Great topic here! Will be following. Most of my assets are B class assets, but on my next purchase I am considering buying for cash flow, so I might have to start looking in a C class location.