All Forum Posts by: Eric Tait

Do you want to use my guy who protests property taxes? He takes it kind of personally and is willing to go to binding arbitration if need be, just text me.

You can set it up anyway that you want to based upon the needs of your investors and what you are trying to accomplish.  

The big thing is that you have to disclose what you are doing upfront and then do not deviate from that plan (a material change) without going back and getting the investor's permission/sign off for making that change to the business model under which they initially invested.

I'd be happy to speak about Belize

What kind of guidance in larger multi-family are you looking for?

A very dirty generalization and rule of thumb is at least a 50% expense ratio, and with this being a C class property probably in need of renovations you can conservatively underwrite this with a 55-60% expense ratio.  This is of course before you pay for your debt service.

Again, this is a very rough estimate, but it will at least get you started. 

I am not an expert, but if something like greater than 50% of the home's value was determined to be damaged, the city is going to make the owner raise the property above the flood plain.

Again, I am not an expert, but I think this is the number. 

Meyerland has been caught up in this recently.  There were parts that had never flooded even during Hurricane Carla, T.S. Allison or Hurricane Ike, that flooded this summer. 

For those that have an interest in learning about Belize, specifically Ambergris Caye we are developing there.  I can give you more market info than you can shake a stick it.

While it is relatively "expensive" by central american standards, it is still pretty cheap by Caribbean standards.

The RICH club is the largest I think.

I have seen anywhere from 7-15% COC on purchase of "value add" Projects with an increase in that once the property is renovated and re-positioned. And for "yield-play" apartment projects, I have seen from 5-10% COC returns usually.

The big question is making sure that your investment philosophy meshes with the sponsors long term plan for the Project.  

As Leslie states, if you want to specific deal structures and projections, you will have to contact us privately.  

As for SFR's, once you factor your time into the equation if you are self managing, you are usually going to average out around 8-20% as well. But you will have much less chance of being able to control the upside equity appreciation because SFR's are bought and sold on a comparative market basis.