

ASK MIKE MONDAYS - Can you make money; if you buy a SMALLER APARTMENT building? What are some of the RULES OF THUMB for employees per unit?
ASK MIKE MONDAYS - Can you make money; if you buy a SMALLER APARTMENT building? What are some of the RULES OF THUMB for employees per unit?
Smaller buildings can typically be more challenging to staff and then push payroll expenses over less units. Owning apartments is a scaleable business. Mike explains some of the rules of thumb on how many units you need to own to hire a manager and maintenance person and some of the solutions that are necessary to make money on your investment.
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When you buy a single family house, AND AFTER THE LOAN CLOSES, your lender will not continuously ask for your updated paychecks, bank statements and annual income tax returns. BUT...in apartment transactions…you lender is your single largest partner and needs continuous financial performance information on you and the asset either on a quarterly or annual basis. Updated operating statements, rent rolls, rehab construction updates, immediate health and safety concerns, updated personal financia...
When you buy a single family house, AND AFTER THE LOAN CLOSES, your lender will not continuously ask for your updated paychecks, bank statements and annual income tax returns. BUT...in apartment transactions…you lender is your single largest partner and needs continuous financial performance information on you and the asset either on a quarterly or annual basis. Updated operating statements, rent rolls, rehab construction updates, immediate health and safety concerns, updated personal financia...
Major League Soccer team New York City Football Club plans to build a stadium as part of a multiuse redevelopment in the Willets Point section of Queens County, local New York City officials and the team announced Nov. 16. The plan also calls for construction of seven buildings
containing a total of 2,500 affordable housing units, a 650-seat K-8
public school, retail space and 40,000-sq-ft of public space.The team is in the process of selecting an architect. The stadium plan still...
Major League Soccer team New York City Football Club plans to build a stadium as part of a multiuse redevelopment in the Willets Point section of Queens County, local New York City officials and the team announced Nov. 16. The plan also calls for construction of seven buildings
containing a total of 2,500 affordable housing units, a 650-seat K-8
public school, retail space and 40,000-sq-ft of public space.The team is in the process of selecting an architect. The stadium plan still...
It is all about “execution certainty.” This means your banker/broker must be your advocate in closing your apartment loan. Michael discusses some of the reasons on why you should consider using a commercial mortgage broker in your apartment transaction.
It is all about “execution certainty.” This means your banker/broker must be your advocate in closing your apartment loan. Michael discusses some of the reasons on why you should consider using a commercial mortgage broker in your apartment transaction.
In a trading update for the six months to 30 June 2022 Cala reported 1,527 completions to June 2022 – an increase of 3% on the 1,479 units completed last time. Pre-tax profit hit £98m from £77.6m on turnover up to £688m from £600m. Kevin Whitaker, CEO at Cala Group, said: “The first half of 2022 has seen the group deliver a very strong performance, ahead of forecast units, turnover and pre-tax profits. “The strength of the sales market in 2021 has continued into this financial year a...
In a trading update for the six months to 30 June 2022 Cala reported 1,527 completions to June 2022 – an increase of 3% on the 1,479 units completed last time. Pre-tax profit hit £98m from £77.6m on turnover up to £688m from £600m. Kevin Whitaker, CEO at Cala Group, said: “The first half of 2022 has seen the group deliver a very strong performance, ahead of forecast units, turnover and pre-tax profits. “The strength of the sales market in 2021 has continued into this financial year a...
Some of the country’s longest lasting COVID-19 protections against eviction moved closer to ending Wednesday when a Los Angeles City Council committee advanced a measure to repeal the rules at the end of January. Under the plan, starting Feb. 1, L.A. landlords will once again be able to evict tenants for unpaid rent and other reasons even if tenants have been affected by COVID-19. The city’s current rules have prohibited such evictions since March 2020. “We must put in place long-term prot...
Some of the country’s longest lasting COVID-19 protections against eviction moved closer to ending Wednesday when a Los Angeles City Council committee advanced a measure to repeal the rules at the end of January. Under the plan, starting Feb. 1, L.A. landlords will once again be able to evict tenants for unpaid rent and other reasons even if tenants have been affected by COVID-19. The city’s current rules have prohibited such evictions since March 2020. “We must put in place long-term prot...
A firm's new direction toward bigger projects, along with an affordable housing need, have boosted the number of units planned for a project on Stockton Boulevard in Sacramento.
A firm's new direction toward bigger projects, along with an affordable housing need, have boosted the number of units planned for a project on Stockton Boulevard in Sacramento.
Rocket Companies has announced that it’s providing its 2.6 million mortgage servicing customers with free premium access to its recently acquired personal finance software, which will be rebranded as Rocket Money.In addition, 3.4 million members using the former TrueBill software, which will be officially renamed late next month, will be able to opt in, in order to access Rocket’s mortgage and auto loan products.“Where we’re evolving is yes, you want to improve your finances, but that?...
Rocket Companies has announced that it’s providing its 2.6 million mortgage servicing customers with free premium access to its recently acquired personal finance software, which will be rebranded as Rocket Money.In addition, 3.4 million members using the former TrueBill software, which will be officially renamed late next month, will be able to opt in, in order to access Rocket’s mortgage and auto loan products.“Where we’re evolving is yes, you want to improve your finances, but that?...
The parcels total nearly 22.5 acres and will yield approximately 600 multifamily units between the two projects.
The parcels total nearly 22.5 acres and will yield approximately 600 multifamily units between the two projects.
In August, ENR Southeast announced its 2022 Regional Best Projects winners, 32 projects completed across the six-state region that stand out among their peers in quality and execution. Now it’s time to recognize projects that stand out for another deserving reason: safety.
ENR Southeast is recognizing two projects for outstanding safety records and practices, but you may notice one category that’s missing from this announcement this year: sustainability. We on...
In August, ENR Southeast announced its 2022 Regional Best Projects winners, 32 projects completed across the six-state region that stand out among their peers in quality and execution. Now it’s time to recognize projects that stand out for another deserving reason: safety.
ENR Southeast is recognizing two projects for outstanding safety records and practices, but you may notice one category that’s missing from this announcement this year: sustainability. We on...
The real estate market frenzy is over, we're seeing more normal patterns. Here's what to expect with inventory and prices into early 2023.
The post Mike Simonsen: “Inventory is climbing, is the supply crisis over?” appeared first on HousingWire.
The real estate market frenzy is over, we're seeing more normal patterns. Here's what to expect with inventory and prices into early 2023.
The post Mike Simonsen: “Inventory is climbing, is the supply crisis over?” appeared first on HousingWire.