All Forum Posts by: Tyler De Young

Thank you @Josiah Pisel and @Mark DeLorenzo for your responses.  You've confirmed what I was seeing online: lots of residential spec construction and pretty low cap rates on rentals.  I wonder how long the market can sustain that...

I'm clearly digging up an old thread here but am considering making the move to Bozeman for the quality of life etc. however am having a hard time understanding the opportunities in the multifamily and/or commercial and industrial markets.  What opportunities do you all feel exist in and around Bozeman today?  College rentals?  short term rentals?  Flex industrial space?   Any insights would be greatly appreciated.

Hi there,

My family owns a 49 space, 55+, MHP in Buhl, Idaho (approx. 1 hour outside Twin Falls). We've gone almost 20 years with a tenant managing collections/repairs yet she is no longer with us and is irreplaceable.  We have cycled through a few potential replacements but can't get the dependability and proactivity that we need.  At 49 spaces, I realize that we are below the threshold of larger PM groups but we still need stable management.  This is by far the most beautiful and desirable park in the area.  With owners that live out of state, we need help keeping it that way.

If you have any recommendations, we'd be really grateful.

Thank you,

Tyler De Young

@Daria B. its almost funny once you get over the inconvenience and loss of time/money; but I adopt the, "if you don't laugh, you'll cry" principle.  

Haha i love this.  I had renters paint my perfectly smooth walls with purple 'textured paint', when they moved out they tried to tell me this was an upgrade and that I should be paying them for the improvement.  The walls looked like they had grown facial hair, it was not an improvement.  Sometimes these move out conversations are just funny.

I grew up in Folsom/Roseville and am one of these millennials you're talking about and can attest to young people skipping their 1st home.  Most people I went to High School and college with have elected to rent till they were late 20's, making 80k, then bought something in the 400k range.  By that time, they LOVE the area and couldn't imagine raising a family somewhere else. Close to Tahoe, close to the bay... your appreciation and demand numbers don't surprise me at all.

Great stuff, thanks guys!  Ian, I'm working to find a few multifamily apartments, that are not in New York.  Something with rehab potential to raise rent roll... trade up in 5 years.  

Thank you Jay!  Looking forward to connecting with you!

My friends!

I'm running numbers on my first multifamily in Louisville, buying in cash and refinance after seasoning if required. I'm looking for some LLC friendly banks or credit unions who can help me get an idea of their terms and requirements before pulling the trigger and possibly being stuck unable to refi. Looking at 4-5 unit properties, up to 9, occupied, capping @ 12-13%, 150-250k purchase price. I'd like to pull out 75% after and buy more. Any thoughts or recommendations?

I greatly appreciate your time!

-Tyler De Young

Alright friends, my wife and i moved to NYC, spur of the moment.  Sold our long term flip that we did ourselves in Los Angeles and wanted to get out of that city.  Made some money, my wife got offered a job in NYC so we decided why not?  We love NYC too much...  

Anyways, first thing we did here is start looking for inexpensive studio's that we could buy in cash, live in for a year, do a little rehab, then rent out and hold for 10 years, then do it again and again.  Found a charming studio in a 9 unit brownstone for 345k on the upper west side.  400sq/ft.  Co-op board allows unlimited subletting, no board approval needed, after living in it for 1 year with a 500 annual fee for the sublet.  10% Flip tax up to 10k at the time of sale.  monthly maintenance of 760.  Overall seems pretty straightforward.  My numbers show that in a year i could rent it out for around 2k per month. With no mortage we'd turn about a 3.46% cap after fees etc.  Cashflowing about 12k annually.  After depreciation, showing a loss.  This seems to be a hybrid, long term hold with some cashflow.  We'd continue doing these deals in cash, as we receive significant income from commercial real estate investments in CA and it sounds too difficult to deal with loans in this city with unordinary income.  Correct me if i'm wrong in that assumption. 

A few concerns that i have;

- The co-op board is investor friendly now, but how likely is it that the board changes that dramatically...  We've only ever invested in CA, co-ops are foreign to us.

- The 9 unit brownstone has no mortgage, debt, and has cash reserves yet I'm still weary of being apart of such a small co-op.

- Coming from California, we are going from one high tax state to another, yet are admittedly naive on NYC tax code compared to CA.

I'd love some experienced input, beat up my idea, tell me what you see as unrealistic.  Offer any thoughts or advice you may have.

Thank You!