Hi BP Community,I’m looking into my first out-of-state multi-family partnership with someone that already has experience in the local market and connections to the operational teams required to make out of state inves...

This will allow the team to develop and review project processes and management strategies to move forward with more challenging, yet rewarding, properties.I come from a very process-oriented background (Mechanical Engineering), and my goal is to learn and develop each step of the process, from start to finish, to continuously improve the team and ROI of each project. 

Here are some criteria to check that, from a 10 step guide we made:

But always keep your core values front and center.I’m curious... now that you’ve got this momentum, what’s the next step you’re considering to deepen those relationships and keep the positive energy flowing?

They have rules and best practices about how we put these deals together which has collectively saved us from much of the pain being experienced right now in the multifamily space. 

The exact steps depend on the nature of the defaulted debts and on your local laws.State income tax planning.

But if the lease terms are murky, if renewal conditions aren’t guarenteed, or if the airport authority could dramatically shift the deal down the line, then you should be asking for a discount..or at least some protective clauses in the contract.I’m curious... if you were to step into this kind of leasehold now, how do you think you’d explain the upside to your future buyers or partners when you eventually decide to exit?

What's really the practical situation.** Strictly restricting this for when doing comps between properties in the same sub-division **

I can’t lie, I felt a little jittery stepping in, kind of like I was about to bet on a horse race without knowing which jockey had the best track record.

What kind of property did you end up doing as your next step?