Hello BP. I’ve written about this topic before but now have an actual opportunity with a private lender. A friend of mine knows I invest in real estate and would like to continue to scale. He reached out stating his m...

The ARV is a valuation provided by an appraiser who considers the AIV, Proposed Renovations, and Comparables. 

There are some people who I value their opinion that are proposing doing this yourself. 

MLB has the best landlord forms and contracts, inexpensive and really good: they are all written by the same attorney who advises the State on landlord tenant legislation and he also is a member of the SEW Apartment Association. 

Be sure to have them base their quote on the same data to ensure that you are getting “apple to apple” proposals.

What are you thoughts for this current proposal ?

New York City proposed similar measures but just for criminal history. 

@Ryan Cleary can you provide the additional breakdown of items in the proposal? 

This is my best proposed solution currently, but would love to hear other ideas!

Just because you decide to pay more doesn’t mean the cap rate will be lower in the future.Side note but also one of the most obvious flaws I see in people underwriting exit caps is that they do not reassess taxes in the proposed asset class.