Carrie Young

MF GP (5 deals) & LP (been in over 35). Own 146 doors as JV/TIC. Currently asset manager on 4 properties - $46mil AUM. Private Money Lender.

[Carrie Young @beallthere]

@robbiehendricks These are all great points. It’s clear you are an operator of excellence!

[Carrie Young @beallthere]

@robbiehendricks Strange, I don’t follow him so I don’t think he blocked me from it…I will check again.

[Carrie Young @beallthere]

@BPD1776 Curious what a steel scrapper would get for that metal?

We had all our cedar stolen, but they left the steel!?

[Carrie Young @beallthere]

@KurtSupeCPA Great points. I believe too few people realize that relationships can change quickly no matter what you think you’re seeing.

[Carrie Young @beallthere]

@BeardyBrandon Why did you take the post down?

[Carrie Young @beallthere]

@robbiehendricks @resetbasis I agree with your point about Disrupt. I interviewed them they came across as very unorganized. And if you think a property management fee is the only way they make money from you, I have a bridge in Brooklyn…. Digging into your financials!

[Carrie Young @beallthere]

@Industrializer Class C properties tend to have $$$ deferred maintenance that pops up over the years, so it is be hard to hold them for longer. That’s the only time when waiting doesn’t work in Real Estate. Most Cap ex funds are used up in the first two years then if NOI is ⬇️, no $ for repairs!

[Carrie Young @beallthere]

@Industrializer Well done! You covered a lot of topics thoroughly. I don’t believe he worked 1 hr/wk but if so, w extra 39 hours he could self manage the property and expenses. He’s a good sales person! Owners are allowed to self manage. Maybe outcome would 70% loss vs 100.

[Carrie Young @beallthere]

@S___Elliott @BeardyBrandon @robbiehendricks It’s not that easy. Fee from ‘20 & GP paid taxes. Say $200,000 acq.fee. $25,000 in re-file and legal expenses. 50 investors. $3,500 average (before taxes). Plus need to re-file for ‘20. Not all GP’s can pay it back bc lots put money into deals to save them & they lost those $$$.

[Carrie Young @beallthere]

@TXpaintbrush @codylittlewood Actually, I have done this by using readily avail demographic sources for areas I am unfamiliar with. Generally I like to buy/invest in areas I know. But to get an initial idea, it is possible to take data & underwrite it. Neal Bawa used to teach a great class on this.

[Carrie Young @beallthere]

@TXpaintbrush Brilliant! I call them the "No-Go Zones". Just do some basic demographic review using all free sources like https://t.co/A6eWUqyLBu and it is very apparent that pushing rents in this area is not possible.

[Carrie Young @beallthere]

@VermaAakash3 Do you have a link to view directly? I looked on YouTube but don’t see that exact one. Thanks.

[Carrie Young @beallthere]

@TXpaintbrush @robbiehendricks I haven’t seen lenders putting much $$ addressing deferred maintenance. Properties of that age need Capex all the time. They’ve now gone through 2 or 3 owners that have put it off because they could sell & push it to the next owner. I think some of them are ticking time bombs.

[Carrie Young @beallthere]

@shawngorham @robbiehendricks @Keith_Wasserman In some sub markets, you have to give big concessions in order to rent units. There is a lot of availability. I actually think that basis isn’t low enough.

[Carrie Young @beallthere]

@hey_mindi Private equity has RUINED this space. I am so sorry about your situation and I have been in your exact shoes. It’s cruel beyond measure.

[Carrie Young @beallthere]

@LeylaKuni The fun is so back!!!🤣😉

[Carrie Young @beallthere]

@Jenny_1884 Getting the night vision classes is a great idea. I had slight cataracts, but even with the surgery those lights are still really hard to handle.

[Carrie Young @beallthere]

@mrmikeMTL In college, everyone had whiteboard pads on their door. You would leave a message there.

[Carrie Young @beallthere]

@bridgelenderguy This! In my case, the person came twice. 6 months later & they want to know if I’d like to proceed with the project. I never even received the formal quote showing what it would cost. Moved on with another person who was very timely in follow up.