High Five Jennifer Hale
Dave answered and covered the following questions & Topics
* Hey Dave, I will be going to the UP-8 for the first time. I am pretty close on a couple of properties.
Can you tell me how I would be able to present to the Sharks. What do I need to do to prepare for my
Shark presentation? Also do you have any tips on networking at the event? Thanks Bob
* How do you know if a market is Peaking or Emerging? What are the 3 major Indicators? What are
good Markets, What do you think of Atlanta & New York?
* What is your strategy on Repair Allowance and if the Property currently has old liens on it? What
about properties that are near cemeteries? What if a tenant had died in a unit?
* How to handle the pre-closing cash costs on the 1st multi-family purchase. On a 1 st deal, would a
sponsor be likely to cover things such as: pre closing lender fees (that are not wrapped into the closing):
SEC Attorney fees for the private placement memorandum, and entity formation; Out of state Due
diligence costs for 100+ units., Or would we need to have cash set aside for those costs? Do sponsors
have to be experienced in a particular state, to qualify in that state, and for a particular amount of
units ?
* I attended the Apartment House Riches 3 day seminar this past spring, and I am
trying to get started with raising capital from investors. I want to get right in to
larger properties (100+ doors) so I know I will probably have to pool together the
funds from several investors for one project. My concern is the how I can explain
to the potential investors regarding their equity positions, and if I am legally able to
form this kind of investment group without any license. I know I will be working
with an SEC attorney to form the group and keep everything legal, but I want to
know in advance exactly how things will be set up so I can explain the opportunity
to my potential investors. By the way, I will be attending the Ultimate
Partnering 8 in August and I am very much looking forward to being there.
* Dave, It’s taking me too long to evaluate properties which is causing a big delay in putting in an offer,
what should I do?
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