All Forum Posts by: Steve Hukari

Welcome Dwight, sounds like we're in a somewhat similar place when it comes to REI.

I believe I saw you and your son at the summit. I recall being very impressed that you dragged him there / he wanted to be there. What an awesome age to get into something like this. He's probably got visions of retiring by 30 to a beach somewhere :)

Look forward to meeting you soon!

(Great list of goals by the way...reminds me that I haven't gotten granular enough with my REI goals for this year.)

Sounds great! Count me in.

Tim Dailey Note investing was actually one of the concepts I'd never even considered before attending the relevant session this weekend. It sounds to me like something I'll definitely look at once cash is available. Right now I'm not sure how I'd finance a good opportunity in that realm, but I welcome thoughts on that.

Would love to meet up sometime. It's nice to know there are other locals on this forum!

Raymond B. i definitely hope someone takes me up on the offer. Let's face it, everyone has skill sets and while it may be easy for one person to give me a play by play for structuring wholesale deals, that to me still sounds overwhelming. On the other hand, making a dynamic spreadsheet that you can use over and over is something I actually enjoy doing. So please, overwhelm me! :)

Mark Updegraff Thank you sir. I'll say, considering that BiggerPockets was an unknown quantity to me before this, shilling out $250 bucks (I was late to register but thanks to Marty Boardman's video clips I found out about it in time) seemed a bit on the risky side. No regrets here, whatsoever! I hope you can make it to this beautiful city next time!

As for the work I've done, most of the models are deemed proprietary by my clients. Thus I can't just email over a comprehensive model to show how those multi-family forecasts are set up. But they can't stop me from sharing some generalities. And of course I'd be happy to work through a specific version with you as needed.

Basically I structure a multi-tabbed spread sheet to accomodate the following areas:

A summary - it's always nice to have something print-friendly that captures the salient points of your deal for investors (or whomever)
An operations tab - details like units, rates, inflation assumptions, etc.
A finance tab - it seems like every time I work with a new client, three new financing structures materialize. General ones like an interest only loan, mezzanine and some form of equity split are very common for the $10+ million deals.
A tab to show returns (for the various investor categories)
and sometimes a tab for charts, comparable properties, scenario analysis and more.

One thing I've learned is that in the multi-family market, it's usually sufficient to model operating (property management) expenses by assuming certain costs per door (or unit or apartment, etc.) In senior housing, we build in a lot more detail. There are tabs dedicated to human resources (you've got care givers, nurses, marketers and more, all delineated by occupancy demand) along with other detail for the various care-based specializations.

All that to say...if you have a specific scenario, formula, calculation, whatever...let's talk and I'm happy to help you leverage the technology to make life easier.

I agree with the common thread in your observations George: every session, every speaker delivered "straight up no ******** intense" knowledge". I've never been to a conference like this before!

I was definitely looking forward to the bootcamps and am pleased to say that neither disappointed. Not even accounting for the fact that none of the speakers had met prior; the content, depth, humor and practical information was more than satisfying.

Speaking of which, J Scott, you again mentioned systematizing. What a huge takeaway from your talk. It (and especially Marty's McDonald's reference) reminded me of Michael Gerber's book "The E-Myth Revisited". I'm not plugging the book. Don't even think it's in the top tier of business books. But it spells out, with no hesitation, that success in any business depends on systems. Your four boxes concept, checklists, dictated pricing to contractors, etc...totally embodies that concept. Love seeing it in action!

I also really enjoyed @KevinAmolsch 's presentation on private money.
A) with local Denver folks in the minority it was nice to see someone other than Joshua representing! and
B) just flat out great information. A lightbulb went off for me, a low capital newbie to investing, with the clearly spelled out way to leverage hard money.

Hi! My name is Steve Hukari. I'm an aspiring real estate investor.

Just got some much needed sleep after two packed days at the convention center with many of you. The Summit served more or less as my introduction to BiggerPockets, and what an introduction it was!

It was great to meet many of you and I look forward to continuing our conversations virtually. I'm just flat out blown away by the sincerity, professionalism and success BiggerPockets represents. Definitely unique in many ways. (Kudos to Mr. Dorkin for pulling this all together! Both online and off.)

With the truckload of information I picked up from the many selfless speakers I'll be weighing (and analyzing) which direction to pursue first. I mean heck, I never thought I'd be sitting here considering mobile home investing as a viable option. Right John Fedro?

One thought heavy on my mind throughout the conference was this: what can I offer this invaluable community? I've never bought an investment property. I don't have extensive rehabbing experience (although I did pull off a pretty nice kitchen remodel once, just sayin.) You can bet I'll be gleaning a ton of knowledge from many of you and it's in my nature to want to balance that equation out.

So in keeping with the "not selling anything" mantra, here's what I've come up with. In my day job I analyze financials for multi-family and senior housing investors and management companies. I build complex Excel models to forecast, budget, crunch numbers...you name it. I've also learned that a lot of people aren't as comfortable using Excel, even to put together some basic "what-if" or scenario calculators.

If that's you, maybe you've prematurely labeled yourself computer illiterate or just haven't figured out how to leverage the power of Excel's many formulas, get in touch! I'd love to help you, teach you, share tips and tricks, set up your favorite deal analysis formula in a spreadsheet you can use over and over. Whatever it is, we can figure out ways to make your number crunching more efficient. This offer stands for any BiggerPockets member (otherwise my standard consulting rates apply :)

In any case, thank you everyone for making this such a genuine and informative resource...a true rarity on the web.

Respectfully,
Steve