Multifamily.AM.Guy

10yrs AM (MF&Student). Built AM team 3,500 to 18,000 units. Striving for mastery. Run AM for middle market firm.

[Multifamily.AM.Guy @MultifamAMGUY]

@leo_szac Doesn’t really change your point. Multifamily is 27.5 years schedule.

[Multifamily.AM.Guy @MultifamAMGUY]

@AndrewKeel5 $350 or $600?!

[Multifamily.AM.Guy @MultifamAMGUY]

@leo_szac Why are you including capex with your operating expenses? I’d show it below the line and underwrite it below the line.

[Multifamily.AM.Guy @MultifamAMGUY]

@leo_szac At market $900, that looks like a screaming deal to me. Is that post renovation or just normal turn cost?

[Multifamily.AM.Guy @MultifamAMGUY]

@DallasAptGP Bravo! That is fantastic!

[Multifamily.AM.Guy @MultifamAMGUY]

@TheKelseyMcR I have never heard of this. What a great idea! I’m surprised people opt in. Do you have a specific lockbox product you use the most?

[Multifamily.AM.Guy @MultifamAMGUY]

@leo_szac You must be incredibly gifted with people! I am very impressed that you can get 10-40 unit owners to do the work to provide you estoppels for each tenant, actual bank deposits and 24 months utility bills. Do you provide this request with LOI or with the PSA?

[Multifamily.AM.Guy @MultifamAMGUY]

@robbiehendricks

[Multifamily.AM.Guy @MultifamAMGUY]

@robbiehendricks Looks great BTW. Really like the oversized concrete pad to what I normally see.

[Multifamily.AM.Guy @MultifamAMGUY]

@robbiehendricks AI said $175 /mo in gas cost (high end) At 6 cap that’s $35k in value impact due to operating expense. Plus $20k to build. Total $55k for Marketing photos, added amenity, community enhancement, resident satisfaction and appreciation. How do you think about the ROI on this?

[Multifamily.AM.Guy @MultifamAMGUY]

@robbiehendricks Amazing! Congrats. Do you think your purchase price was at the then current market or how much below market price do you think you purchased at?

[Multifamily.AM.Guy @MultifamAMGUY]

@leo_szac Yeah, well many of peoples rules are formed by getting burned. Pretty great when we have the fortune to learn from someone else getting burned, and add the lesson to our rules list.

[Multifamily.AM.Guy @MultifamAMGUY]

@leo_szac

[Multifamily.AM.Guy @MultifamAMGUY]

@ThinkAppraiser So you and your guests have to slide under the countertop to enter? Creative.

[Multifamily.AM.Guy @MultifamAMGUY]

@GenZMultifamily @thmoneycircle What?! No, if someone renews you definitely should keep the existing set in there.

You still haven’t explained your “savings”. What would it cost you to purchase, not rent. Purchase the exact set that you are renting from the appliance company?

[Multifamily.AM.Guy @MultifamAMGUY]

@GenZMultifamily @thmoneycircle Just talking about cost not net. You said $775 installed, then you sell back for $250. $525. Is that for 12 months or if it goes 2 years they still give you $250 for the used set?

[Multifamily.AM.Guy @MultifamAMGUY]

@GenZMultifamily @thmoneycircle You are paying $500 a year to a rent a set from a company?