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All Forum Posts by: Zane Abner

Zane Abner has started 12 posts and replied 20 times.

Post: Looking For Multi Family Lender In Illinois

Zane Abner
Posted
  • Posts 20
  • Votes 12

Just sent you a message Jonathan

Post: Looking For Multi Family Lender In Illinois

Zane Abner
Posted
  • Posts 20
  • Votes 12

I just sent you an email, thank you for reaching out.

Post: Looking For Apt Complex Lender In Illinois

Zane Abner
Posted
  • Posts 20
  • Votes 12

Looking for potential lender on 39 unit package in Springfield IL. Purchase price $2m. High occupancy rate, good location, majority of units have been renovated, good quality properties that cash flow.

Post: Looking For Multi Family Lender In Illinois

Zane Abner
Posted
  • Posts 20
  • Votes 12

Looking for potential lender on 39 unit package in Springfield IL. Purchase price $2m. High occupancy rate, good location, majority of units have been renovated, good quality properties that cash flow.

Post: Anyone have experience investing Lake Havasu City AZ?

Zane Abner
Posted
  • Posts 20
  • Votes 12

Looking at potential short term rental properties there and haven’t heard much about that market so was going to reach out to BP community for any feedback.


thanks

Post: Landlord/Tenant Law Resources

Zane Abner
Posted
  • Posts 20
  • Votes 12

What is a good resource or resources to look up tenant/landlord laws in Nebraska? 

Post: Looking at adding a Theater Room in STR

Zane Abner
Posted
  • Posts 20
  • Votes 12

We are looking at adding a theater room in a STR in Gatlinburg TN. I know each property can be different depending on layout, cost of the project, etc but I'm looking for the general opinion of this space for a STR. Thanks

Post: STR Revenue Target vs Purchase Price

Zane Abner
Posted
  • Posts 20
  • Votes 12
Quote from @Jonathan Dempsey:

@Pretty Khare

These are great numbers, awesome to hear about the niche in Tampa.

To quickly sift and compare apples to apples, the minimum a property gross to purchase price ratio needs to be 1.67% in markets I underwrite in.

So for a 500K house, gross rent would need to hit at least $5000x1.67%, or $8,333 gross.

Generally I see STR expenses to be between 35-40% of gross if you have management in place, cleaning revenue, maintenance, utilities, etc.

Being conservative this leaves 60% of gross as NOI typically. If you want 1% rule on NOI (a minimum standard for a good deal in STR), then you'll need 1.67% gross (1/.6).

I know @Josh Messinger is seeing this in the Poconos as this is a market I invest in heavily, and I’m sure most of those Tampa rentals mentioned are in a similar boat.

STR is my sole focus, always ready to chat STR if you reach out!

Live Free,

JD


To quick clarify, the 1.67% you’re referencing would be per month correct?

Post: STR Revenue Target vs Purchase Price

Zane Abner
Posted
  • Posts 20
  • Votes 12

For a STR is there a target % of purchase price that generally equates to a successful STR property? Similar to the 1% rule.

Post: Reverse 1031 Exchange

Zane Abner
Posted
  • Posts 20
  • Votes 12

Looking for advice, looking to make a larger multi family deal in the near term but would also like to sell current SFR properties that have capital gains. Therefore looking at a reverse 1031 exchange. Is the below information correct? and is there other relevant information I should know?

You have 45 calendar days to identify what you are going sell as your relinquished property, and you have an additional 135 calendar days — for a total of 180 calendar days — to complete the sale of your identify relinquished property and close out your Reverse 1031 Exchange.