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Multifamily Madness

@MultifamilyMad • 74,652 subscribers

Brokered 600+ real estate transactions. Owner of several apartment complexes & neighborhood strip malls.

Shorts

It’s 2025. You’re sitting at home on your couch at 3 in the morning because you can’t sleep. The apartment building you bought in 2022 with all of your family and friends money is at 70% occupancy. Your bridge loan is due in 30 days and the new debt quote you just received is for 25% less than you bought the property for and the interest rate is higher than what you have now. You’re on your fourth property manager and you just found out that they have been pocketing rent each month putting you at 60% economic occupancy. Your roof at the property is also leaking and you never put any money in reserves. Your wife left you for some guy named Jay Gajavelli who has way more units than you. You have no one to thank other than yourself for going to Brad Sumroks seminar for $15k which you took out of your 401k to attend.

It’s 2025. You’re sitting at home on your couch at 3 in the morning because you can’t sleep. The apartment building you bought in 2022 with all of your family and friends money is at 70% occupancy. Your bridge loan is due in 30 days and the new debt quote you just received is for 25% less than you bought the property for and the interest rate is higher than what you have now. You’re on your fourth property manager and you just found out that they have been pocketing rent each month putting you at 60% economic occupancy. Your roof at the property is also leaking and you never put any money in reserves. Your wife left you for some guy named Jay Gajavelli who has way more units than you. You have no one to thank other than yourself for going to Brad Sumroks seminar for $15k which you took out of your 401k to attend.

133,010 görüntüleme

2 bedroom unit Was rented for $900. Tenant vacated. 5 days to get painted, flooring, windows, trim, outlets/lighting, misc cost $6,000 New rent $1,500 $6,000 rehab dollars invested to get an additional annual $7,200 in rent or 120% return on rehab investment $1,500 x 12 = $18,000 annual rent $7,200 additional rent/8 cap=$90,000 in added asset value Do this to 10 apartments in this building to add $900k in value

2 bedroom unit Was rented for $900. Tenant vacated. 5 days to get painted, flooring, windows, trim, outlets/lighting, misc cost $6,000 New rent $1,500 $6,000 rehab dollars invested to get an additional annual $7,200 in rent or 120% return on rehab investment $1,500 x 12 = $18,000 annual rent $7,200 additional rent/8 cap=$90,000 in added asset value Do this to 10 apartments in this building to add $900k in value

21,608 görüntüleme

Taking all the brown and tan and replacing it with white and grey (obviously). 1986 vintage purchased for $62.5k a door. Previous rent was $675. Will get $1,100+ once renovation is complete. $5,000 reno to get $425 more a month in rent. Easy decision.

Taking all the brown and tan and replacing it with white and grey (obviously). 1986 vintage purchased for $62.5k a door. Previous rent was $675. Will get $1,100+ once renovation is complete. $5,000 reno to get $425 more a month in rent. Easy decision.

28,803 görüntüleme

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Delta has completely dropped the ball on this. My family and I have been stranded at Atlanta airport for 4 days now. 0 car rentals 0 hotels (was able to get one through a rewards program 25 minutes from the airport for tonight) 0 available flights 4-5 hours in line to even talk to a person Thousands of flights canceled. Thousand of people sleeping on the floor for days. Thousands of lost bags with no one to claim them. I’ve flown over 30 times in the last 4 years and never seen anything like this even during Covid. We have two flights booked for tomorrow and hope to catch one of them to make it home.

Delta has completely dropped the ball on this. My family and I have been stranded at Atlanta airport for 4 days now. 0 car rentals 0 hotels (was able to get one through a rewards program 25 minutes from the airport for tonight) 0 available flights 4-5 hours in line to even talk to a person Thousands of flights canceled. Thousand of people sleeping on the floor for days. Thousands of lost bags with no one to claim them. I’ve flown over 30 times in the last 4 years and never seen anything like this even during Covid. We have two flights booked for tomorrow and hope to catch one of them to make it home.

Multifamily Madness

9,504,922 görüntüleme • 1 yıl önce

My daughter is 2 years old. We allow her zero screen time. With exception of Friday nights. We watch one movie of her choice together as a family with popcorn. Tonight, she chose Frozen…for the second week in a row. Because of her limited screen time, she loves to “read” books, speaks full sentences and knows the entire alphabet. I’m a firm believer in the anti-iPad/tablet parenting. Call me crazy but my kid isn’t glued to a screen and is extremely social. The one exception to this rule is 4+ hour plane rides. Let it go. *Bonus content video* Frozen is a rush of emotions as you can see here….

My daughter is 2 years old. We allow her zero screen time. With exception of Friday nights. We watch one movie of her choice together as a family with popcorn. Tonight, she chose Frozen…for the second week in a row. Because of her limited screen time, she loves to “read” books, speaks full sentences and knows the entire alphabet. I’m a firm believer in the anti-iPad/tablet parenting. Call me crazy but my kid isn’t glued to a screen and is extremely social. The one exception to this rule is 4+ hour plane rides. Let it go. Bonus content video Frozen is a rush of emotions as you can see here….

Multifamily Madness

634,392 görüntüleme • 2 yıl önce

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