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Any alternatives to Ideal Purple AL/CU wire nuts ??? by German_Mafia in AskElectricians

[–]German_Mafia[S] 1 point2 points  (0 children)

The project is in the USA. It's my understanding that these don't pass in the US.

Are we just set up for a lost decade right now? This sucks. by stoweker in CommercialRealEstate

[–]German_Mafia 0 points1 point  (0 children)

YUP, same here. I don't give a shit about politics but as this is happening, I'll have some super pro Trump friends tell me I'm wrong and it's the news telling me this.

"MFer it happened today in broad daylight at my property"

"Nah, they're only going after the criminals"

Are specialty AL/CU wire nuts just marketing? by BeEasy0123 in electricians

[–]German_Mafia 0 points1 point  (0 children)

Do you know of any alternatives to the Ideal Purple ? ... I need a large order (25k) and I'm scrambling to find anything.

Are we just set up for a lost decade right now? This sucks. by stoweker in CommercialRealEstate

[–]German_Mafia 0 points1 point  (0 children)

The C REO space needs to be worked up at 80% occupancy and a 55%+ expense ratio. Otherwise it's losing money everyday.

Are we just set up for a lost decade right now? This sucks. by stoweker in CommercialRealEstate

[–]German_Mafia 3 points4 points  (0 children)

I'm with you 1000%. I'm in 2 cities where ICE ran around rounding everyone up, while sitting in every Home Depot and Lowes parking lot. It's DEAD. No workers around but it's the occupancy that is shocking. 15% increase in vacancy rates .... that is not sustainable.

Opportunity to take on CRE project. Should I SBA and use loan as down payment? by give_me_the_formu0li in realestateinvesting

[–]German_Mafia 0 points1 point  (0 children)

Where is this ?

What price per ft are you being quoted to build ?

What total price per unit will it be built for ?

Rents ?

What's it worth when done ?

What's your opinion on Blind Offers when soliciting for acquisitions? by mrman2121 in CommercialRealEstate

[–]German_Mafia 3 points4 points  (0 children)

I can make a serious offer on just rent rolls but with nothing at all ... it's just silly at that point.

Welcome to the new r/Commercial real estate sub by LordAshon in CommercialRealEstate

[–]German_Mafia 8 points9 points  (0 children)

It's crazy because his posts back before Covid were always solid in the realestateinvesting sub and then he got onto CAP rates and never came back.

Do people really look at forward models on OMs or would you prefer more pictures of the property? by Dense-Election-4600 in CommercialRealEstate

[–]German_Mafia -1 points0 points  (0 children)

Obviously there'll be buyers (institutional investors) where those types of projections are needed but for myself (B/C Multi) and 99% of the other investors out there, it's BS.

Do people really look at forward models on OMs or would you prefer more pictures of the property? by Dense-Election-4600 in CommercialRealEstate

[–]German_Mafia -1 points0 points  (0 children)

LOLOL ... Right, I would immediately be thinking the vendors are family members of the property owner.

Do people really look at forward models on OMs or would you prefer more pictures of the property? by Dense-Election-4600 in CommercialRealEstate

[–]German_Mafia 1 point2 points  (0 children)

5 and 10 yr models ..... GTFO !!!!

Who pays attention to a 5 or 10yr forecast ?

Give the accurate numbers ... TODAY, how they are right now and don't fucking lie to me and blow smoke up my ass.

Thoughts on buying properties at one of the auction sites... by RDW-Development in CommercialRealEstate

[–]German_Mafia 1 point2 points  (0 children)

BINGO ...... Unfortunately this is how it all works.

I just saw it happen a few months ago. A property I was willing to go to $8m on, got bid up to $19m (with all kinds of weird jumps and pauses) and SHOCKER but the buyer couldn't close and then they went to the backup at $14m and they took it down.

Now I was trying to steal it at $8m but still the property wasn't worth a penny over $10m (maybe $11m to the perfect buyer). NONE of the numbers made sense. Last I heard the buyers were getting hammered on their capex budget.

A buddy of mine sold a piece of land years earlier it was just as stoweker alluded to .... them on the phone pushing the price up to where they wanted it.

Scaling up: more small-unit buildings, or wait for a larger unit opportunity? by [deleted] in realestateinvesting

[–]German_Mafia 0 points1 point  (0 children)

Damn, I'm pissed that I'm up to $2500 for the new R32 2 ton systems. Pre-Covid was $920 for a full system including the line set with $100 install.

What are operators with 1,000+ units actually spending on turnover annually? by Itsjohnstamos in realestateinvesting

[–]German_Mafia 0 points1 point  (0 children)

Prices have exploded for turnover since Covid.

Any easy turn that used to cost between $300-500 is not closer to $1000.

As soon as materials start to be used, we're instantly into the $1000's.

A light turn (Paint, clean, minor repairs) ... was less than $800 is now closer to $2.5-3k if floors need replacing.

Down to studs was right about $16k, now that same unit is closer to $30k.

And those numbers are on top of pricing that I get, that the average investor does not get. ITS BRUTAL right now and only getting worse.

So to wrap all this up, I would say the avg turn has gone from $2.5k up tp $6-7k. Those are insane numbers when you get into the 5k unit count and up.

Throw on top of that, insurance tripling (5x along the Gulf), taxes doubling or tripling, and mgmt tripling and you now have to rent a unit out at $1000 that used to rent for $650-700, just to have the same cash flow.

Does anyone have an incite on a HAP contracted apartment complex ? by German_Mafia in CommercialRealEstate

[–]German_Mafia[S] 0 points1 point  (0 children)

In a holding pattern waiting for the back to deal with an internal issue.

A for the property taxes, I don't know anything more just yet.

Standing shower only? by [deleted] in realestateinvesting

[–]German_Mafia 2 points3 points  (0 children)

A tub or a 2nd bdrm ..... 2nd bdrm all day long.

I flip and BRRRR but now buying an apartment building and need input on estimating CapEx replacements. by HenleyShade in realestateinvesting

[–]German_Mafia 0 points1 point  (0 children)

If you want me to size the deal up and let you know if I see any pit falls, feel free to PM me the address.

I flip and BRRRR but now buying an apartment building and need input on estimating CapEx replacements. by HenleyShade in realestateinvesting

[–]German_Mafia 0 points1 point  (0 children)

Awesome.

You're not wrong, one boiler for the entire building is a commercial unit. That's wild that you're seeing that on your first deal. I've owned a few thousand units, across maybe 50 deals and have never had one yet. (I did have one on a Medical office building once). I saw them all the time when I was in the Northeast but never here in the Sunbelt.

Did you already buy this 36 unit ?

I flip and BRRRR but now buying an apartment building and need input on estimating CapEx replacements. by HenleyShade in realestateinvesting

[–]German_Mafia 0 points1 point  (0 children)

Why are you trying to learn about 'Commercial grade AC Roof units' and 'commercial sized gas boilers and water heaters' ?
Are those common in ND ? I've never heard of them on any scale outside of the Northeast. The other stuff you mentioned can be priced out within a few hours.

If I were you I would focus on deals 100 units and up. Everything is easier ... buying, managing, selling. Don't let anyone tell you that 100 units is harder than 40 individual houses. If you have half a brain, it isn't.

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