Designing A Multifamily Complex for Profit | How to Develop a 200 Unit Complex (PART 2)
Вставка
- Опубліковано 5 жов 2024
- Part 2: Now that you have your land, how do you design your apartment complex for maximum profit? This is an in depth look at developing a $78M apartment complex for long term passive income. I have developed several of these large complexes now and have the process systemized - let me break it down for you!
Part 1: • How to Develop 200 Uni...
Part 3: • FULL Underwrite on a M...
Meet me LIVE in Las Vegas on Nov. 3 to 5 at Build Wealth Summit! Past speakers include Cody Sperber, Cole Hatter, Eric Thomas, Dan Bilyeu, Jen Gottlieb, and more. Tickets on sale now:
⚡ buildwealtheve...?el=yt10.31.22
Want to learn how to use LAND to make $10k-$50k in 60 days? Watch our free webinar on how to turn DIRT into DOLLARS by entitling & subdividing land at the link below:
💻 NEW Free Training: Turn Dirt to Dollars (Land Investor)
buybuildflip.c...
💻 FREE - How To Buy Land and Build a House:
www.elitereale...
Jerome Maldonado is a 25+ year veteran in the real estate investing industry. He specializes in real estate development, and teaches his students how to developing single family homes, multifamily complexes, and entitle land to sell to developers (or develop themselves!). Jerome also owns multiple 7-figure businesses including a construction company and a realty company, founded in 1998 and 2000.
👍 SUBSCRIBE for more videos on real estate investing. Compound your success!
💻 GET COACHING AND LEARN MORE:
www.jeromemald...?el=ytdescriptionhomepage10.31.22
🔵 NETWORK WITH OUR FACEBOOK MENTORSHIP GROUP:
m.facebook.com...
CONNECT ON SOCIAL MEDIA:
📣 Instagram: / thejeromemaldonado
📣 Facebook: www.facebook.c...
📣 Twitter: Je...
📣 Linkedin: jeromem.com/Li...
--DISCLAIMER-- The suggestions, advice, and/or opinions that are given by Jerome Maldonado are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Jerome Maldonado and Jerome Maldonado brands harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by Jerome Maldonado as a perspective based upon experience.
📣HELLO EVERYONE! Jerome Maldonado here, we just wanted to inform you that we are growing a new IG account. The other account (and the biggest channel we had) was hacked and deleted last December 31st. We want to build it from the ground in 90 days, so I'd love to see you and talk to all of you interested in getting started in Real Estate RIGHT THERE!🏘💯
⚡Follow us here ➡ jeromem.com/Instagram
I love the way you explain things Jerome! You’re a blessing, thank you!
@@realestatecoach8626 blessed🙏🏼
Hi Jerome, great video. Thank you for taking the time to film this and answer these questions.
You had covered the cost difference between going from 3 stories to 4 stories, and stated that, if you only had to spend $1Million in order for it to bring you an additional $4Million ($5Million, gross) that you would go ahead and put the elevator in. My question is - if I skimp out on the pool and gym and lose out on $400 per month, per unit, across 200 units, that's almost 11.9Million is value increases, calculated using 95% occupancy, and 65% operating expenses. Wouldn't it make more financial sense to maximize and build it out with all of the amenities in that case? If it's about maximizing as much as possible for as little lift as possible - my father said to me "why half ass it"? So why not just build it out, maximize the rents, and if you enter a recession just lower your rent to B level rents and keep your occupancy high(take out a 75% cash out refi, instead of 80% to protect from that potential drop) and just repeat. I am very interested in understanding the reasons. You've sold me on the timeline situation. If I'm going to spend 2 years to build this project out and it take me almost the same amount of time to do it - then I should just build as big as possible.
Great question
Don’t ever half ass anything!
That’s first
You build a class A product! With class B rents! Light amenities
Have you ever penciled a full class A build with amenities? Not just the construction but management and maintenance?
Try to pencil a real NOI with a fully amenidized property at class B rents!
If it pencils, please share it with me!
Specially now with higher interest rates and elevating CAP rates!
Values are dropping and banks are lending at a 70% LTV and LTC.
With valuations dropping if you have large expenses, your NOI needs to be strong to increase valuation!
We can manage and maintain our properties at 30% or less.
Impossible to do with a full amenity development.
Lots of moving pieces on both ends!!
💪🏽💪🏽👊
Great video. Where is the developer's fee? How is it calculated? What is the timeframe over which it is paid?
I am the developer!!
I get paid 5 different ways
He's 100% correct about pools I live in an apartment with 144 Units mostly 2 and 3 bdrs that is 100% rented with a waiting list years long and even on hot summer days, there is maybe 5 people at the pool.
Bingo
Tracking,...quality info Jerome bro.
Thank you
@@jeromemaldonado Hey there Jerome, have a question. I'm applying for disabled veteran owned business to bid on gov't contracts to build my own capital as a developer so I can begin market rate and affordable MFH developments. Would you recommend I apply for LIHTCs/Tax Bonds to trade for Equity Capital also? I know your Domination event is going on so I appreciate your comment,... hopefully you will see and be able to give advice on this question also.
#Replay Great content! See you in 4 days! I am so excited! Jani'ce from Indianapolis!
RED 2022! Let’s go!!
What sub contractor cost the most in labor? Plumbers or electrical contractor or hvac?
And I have a partner that does sprinkler he ownes his own company
Also talking to a seller he wants 799k for the lot it’s a 10,169 sqft lot 6,800 is buildable I spoke to my city board under the new zoning law I can build 5 story 20 units 1-2 bed rooms about 1000-1,200 sqft a unit
I have my own construction contacts my last build was a 32 unit luxury town home but I’ve done the 150+ units before just never for myself.
#repeat
Urban style is in my area north of ast NJ I got agents bringing me lots let’s partner up my strong point is construction I’ve been developing since 2016
Love it keep crushing it, bro
Hey Jerome I'm working on a development it's a 64 unit apartment building, and we are looking for investors any investor who is looking to be part of this generational wealth journey please reply to me with your email.
And I have a partner that does sprinkler he ownes his own company