All Forum Posts by: Account Closed

@Dan Tutolo

This is going to be interesting and I have been reading a lot about PPP. 

As for eligibility, we, landlords with LLCs are qualified. The issue is how much we can borrow? We do not have the payroll cost to calculate the loan amounts but we do have expenses for forgiveness such as interest on mortgage and so on. 

Can anyone chim in?

@Dave Meyer I am a senior data scientist in financial firm for my W2 job. We use all sort of data from yelp reviews to counting numbers of trash cans in bigger city to predict the rent growth of MFs in zip code or even the block level. 

The prediction is as good as how clean and accurate the data is. I think the best way to approach is having the outlier detection system where you can map the rental growth sudden change YOY and population growth changes. 

Another un related question, I have two contractors that I stupidly paid ahead but did not provide me with W9. Should I still file 1099 for them? I know their LLC name and their LLC listed address but not EIN or SSN. What should I do?

@Nicholas Aiola

Very quick questions, I have 1099 Misc for contractors. Do i need to include payment done with credit card, or debit card to contractors in report? I read on quickbooks that you dont need to include payment done with third party transactions? 

Is that correct?

@Andrew Neal 

I did in some sense. I started looking around SF for about two months and realized that there is small error margin when it comes to SF. Three months later, I did my first deal on house hacking with 4 plex. 

I am now 11 months in and 33 units with 5 properties. If I were to do SF, I wont be able to scale up this first and I will also be looking after 33 roofs. 

Hi all, 

I am doing a renno on one of my apartments and gas pipe is on the way of the wall that I taken down. Does anyone know a good and reasonable master plumber that service Montrose area?  

Thank you so much in advance.

@Justin Thiesse 

Here is my two cents on this topic. 

I do a lot of modeling in my 9 to 5 job and I think we are in either side of the peak in real estate cycle. 

1. Definitely, interest rates will be a killer for most new real estate loan given that cap rates are at all time low. Cap rates have to raise up to compensate for the interest rates and as we all know, cap rate goes up, prices comes down. 

2. Commercial loan- Most commercial loans are 5 to 10 years and people who locked in low rates in 2008 are coming out and refinancing their properties with much higher rates now. 

Please let me know what your thoughts on it.

@Jason S. I completely understand regarding no funds. What I did was trying to learn as much as I can regarding the market segment and be able to talk comfortably NOI and cap rates etc. I started marketing on multifamily trying to find potential good sellers. Once I get them in contract, then put together a presentation and start going to events to talk about the deal and ask other investors to invest in you.

@Mark Sewell 

You should not sell the property for debt free unless you are paying high int rate or price is good. If you have locked in low rates, those debts are good ones and should keep it that way. 

@Vijaianand Thirunageswaram I totally agree with you regarding the real estate market cycle and expected downturns. However, there are a few unknown that are out of the control. Inflation and fed rates. 

Inflation has been surging a bit for past 2-3 months which is a bit concern given that fed is aggressively raising the rate. The yield curve starting to flat line which is a strong leading indicator for market corrections. If the 10 year rates were to rise, either rent goes up or cap rates have to go down to compensate for the yield shift. 

I believe there are numerous opportunity left on multifamily deals where price point of around 800k-3m  where most institutional buyers are not looking at.