All Forum Posts by: Yuri Roads

Thanks. Interesting idea that I had not thought of.

50 units from 500 sqft to 2000, on a park in a mid size city in norther ca. Mostly I want to know other downsides to commission based off sqft rather than %. Thanks 

HI

We are negotiating with a new commercial management company and they do things differently that others ive worked with. They charge per sqft and not a %. We like them and want to try and make this work, but wonder what sort of incentive they have to get our rents up higher. We were also thinking of trying to put a cap for the smaller units since their rate goes up as the $ amount and sqft goes down. We have had a hard time getting renters in since covid so our rents are a lot lower than we want. When there is a bounce back to commercial space and our rents go up their fees are less of a % of rent. Right now it's an average of about 6.3%.

Any suggestions on asking for a cap, how to incentivize without a % and any other related issues I should pay attention to?

Thanks so much in advance 

Hi,

We are doing a 1031 into a 10 unit multifamily and are looking for funding. Ive got a Freddy mac 5 yr fixed at 3.05%, but the minimum is $1 mil. I only need about $800k, but that rate if for a minimum of $1 mil and Im thinking it might be the best we are going to do. We could put the extra $200k back into the place in adding a laundry or converting a garage to a studio or other upgrades. 

Does anyone know of better rates? Ive looked at banks, including Black Oak and some others suggested on bigger pockets podcasts. We are getting a great deal (buying from a family member) so it will be income producing and we already have other multifamily to qualify as experienced. 

Thanks,