All Forum Posts by: Zachary Feldman

WARNING!! STAY AWAY FROM C&M RENTAL AT ALL COSTS!!!!!

I own a large portfolio of two family homes in Buffalo and had C&M manage the properties for over a year. If you want to protect your investment and properly cash flow the building then run the other way from C&M. After more than a year and countless check ins and instruction on how to properly run the buildings they nearly destroyed all we have built. There’s not one portion of their business I can speak positively about. Mike and Charles the owners are not involved in the business in any respect beyond signing new clients and have turnover with each position in the office once every six months. One of the owners doesn’t live in the state and the other has another full time job, how do they expect a company to function with no leadership or accountability. They don’t allow their clients to call them or the office on the phone, you’re only allowed to email the management company, not very comforting during emergencies nor efficient during day to day operations. If you try to stop by on a Thursday at 11am, the office is closed. They don’t get back with your tenants, ever, this caused a significant amount of discomfort for ownership and caused a horrible experience for residents. Every tenant they placed, (keep in mind we gave them a 100% occupied portfolio that they ran all tenants out of the buildings) has broken their lease or we’ve had to evict. They were able to pull broker fees off each of these unqualified tenants. There were accounting issues at every turn. On multiple occasions we found the work they claimed they did was never completed. They could never get competitive bids from competent contractors forcing ownership to bring in their own contractors. The list goes on and on and on....

Do yourself a favor and don’t use them as your management firm. C&M, do yourselves a favor and shut the doors.

If you want recommendations for our new PM who has been incredible feel free to message me directly.

Cheers,

ZF

@Josh J. Would you be willing to share this deck?

Dear BP,

I am interested in buying in PR due to many microeconomic factors that make it feel like a good time to buy. Does anyone know any brokers there or can name some of the more active company's. Looking to pick up 50+ units in the next 12-24 months.

Best,

Zach Feldman

Recently saw a nitrogen buy down fee in a  construction budget, does anyone know what this is?

Hi BP's,

I am looking for a CT Attorney Recommendation For a somewhat complex Partnership Agreement. I was working with someone who flaked and need to get this across the finish line asap.  It will be a LP, GP partnership structure with a promote, so I will need someone that done this kind of structure in the past.

Please let me know if there is anyone you recommend.

Cheers,

Zach Feldman

Whens the next NYC meetup?

Hi BP,

I have been looking in Brooklyn, LI, and Harlem but have been priced out at this point and don't feel its the highest use of capital at this point. I currently own 18 properties in the Northeast and am now looking to pick up more product in primary markets surrounding NYC. 

A couple of questions looking for feedback here regarding West New York and Union City NJ

• Does anyone invest in these areas and want to get a cup of coffee to discuss their strategy and successes?
• Who are the top brokers and deal junkies here that I should get in contact with?
• How would you recommend sourcing deals in this area?
• Is anyone a wholesaler in this area that is looking to add a buyer to their list or partner up?
• Is anyone a flipper that would like to partner up with a buy and hold guy.
• What are peoples thoughts on this market overall?

All feedback appreciated.

Cheers,

Zach Feldman

Derek,

How are you going about compiling your list of prospects?

How would you go about compiling the list of prospects?

Hi All-

I am sure others are feeling a shifting in the tide as things continue to  be overpriced, increasing interest rates, and return metrics continually become more difficult to hit. I was hoping to get some discussion here on the biggest opportunities in Real Estate, specifically mutli-family investing during recessions and financial downturns.

If you could  go back to 2008-2010 what were the biggest opportunities for Real Estate investors and how could you have taken advantage?

If another downturn was going to take place what type of deals would you look for and how would you best prepare to take advantage of a real estate market that is crahsing?

Looking forward to all responses.

Cheers,

ZF