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All Forum Posts by: Robert Carpenter

Robert Carpenter has started 15 posts and replied 61 times.

Thanks Hadar

As a newbie to multifamily investing I was thinking the big problem would be something like high tenant turnover or high vacancy rates.  But now that you mention it it makes sense that raising money to fund a deal can be a big problem.

Hi Everyone,

Hey quick question.  

For folks who have owned multifamily property for a while I'm wondering what is the BIGGEST PROBLEM you've faced ?

Post: Pittsburgh cap rates

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

What you could do is to go on loopnet.com and look at the Pittsburgh listings. Loopnet ususlly includes the cap rate for the property. Cap rates are specific to sub-market , to asset type, and to asset class. A C class multifamily will have a different cap rate than an A class office complex in the same sub-market. It probably would be helpful to develop relationships with CRE brokers in Pittsburgh. They should be able to provide you with cap rates, sales comps, up and coming areas and the like.

Hi Bill,

You might want to check out prospectnow.com as well.

Post: Redemption after foreclosure and 2nd mortgage

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

Oh OK.  Thanks !

Post: Redemption after foreclosure and 2nd mortgage

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

Suppose the first mortgage holder forecloses, the property is sold at auction, and the mortgagor redeems the property within the redemption period.   Would such a redemption reinstate the 2nd and at the same time move it into first position ? 

Post: Trends for urban apartment design

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

Thanks Josh.  Much more to come :)

Post: Trends for urban apartment design

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

If space is tight and you want to turn one bedroom into two,  a bunk bed 'hack' might be the best solution.  This strategy puts a bunk bed in the middle of the room, then builds an S shaped partition to  separate the top bunk into one room and the bottom into another parallel room.  See:

http://bit.ly/2tfW55h

An attic ladder makes for a safe and stable way to get up and down from the top bunk and conveniently folds out of the way during the day. 

Post: Trends for urban apartment design

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

The alcove bed is the most space efficient for the individual. 

http://bit.ly/2rfvp3f 

Two such beds laid end to end permits a design of TWO separate bedrooms in just 250 sq ft.  Each can have generous closet space, a built in desk, a built in bed, and a built in storage space above the bed -  with half the space shared by each bedroom.    In this way urban residents can develop a whole new minimalist approach to urban living.  Their 'possessions' foot print can hit its theoretical minimum.

For comparison here is a link to photos of the conventional alcove bed.

http://bit.ly/2rVWz15

Post: Trends for urban apartment design

Robert CarpenterPosted
  • Montclair, NJ
  • Posts 66
  • Votes 6

Said Oscar Wilde about American architects, "...bulk is their canon of beauty and size their standard of excellence...".   This was never truer than today where in upscale homes the master suite often has room enough for bowling alley.  But in apartments surely, practicality militates thinking compact rather than cavernous.   Why not try to pack in as much function and storage space as you can, let that drive the design ? So doing means arriving at the sort of compact master suite one might expect to  find on a yacht:

http://bit.ly/2r5InW3

1.  Separate doors on each side of the bed

2. A desk area on each side

3. Walk by rather than walk in closets

4. A bed that just  fits the length of the space, Monticello style: http://bit.ly/2qZT1t3

In this sort of design it's all builtin.  The tenant signs the lease and that's it.  No tying up the elevator to haul  badly made furniture either in or out.  Simplicity itself.