Welcome back to the channel. On todays episode I interview Mr LLC (Arek Boynerian) on is adventure from a single family house to 438 rental apartments.
Great interview guys! Arek… do you pre-shop your idea with banks or do you first get a contract with the seller and then go shopping for a bank? I assume the latter is how you do it. And if you do it that way, do you tell the seller you may need some time to find a bank to get on board with this? Or how many days do you write into the contract to get financing?
@@doingcodythingsyoutube could you explain the difference between what you guys did. He didnt mark as capex and you did and bank saw differently? Think it was something along those lines
At minute 20: you mentioned that you like to depreciate larger purchases rather than depreciate to keep your P&L. This is so it is easier for you to create relationships with banks? Looks like your income is higher than if you expense it?
There should be a reserve in the budget but if I put on a brand new roof for $70k I’m not including that in an expense ratio because it’s not a regular operating expense
@@doingcodythingsyoutube Great thank you! So the reserve is in the expense ratio and should be able to cover major expenses over time...This is an area I've struggled with
Great interview guys! Arek… do you pre-shop your idea with banks or do you first get a contract with the seller and then go shopping for a bank? I assume the latter is how you do it. And if you do it that way, do you tell the seller you may need some time to find a bank to get on board with this? Or how many days do you write into the contract to get financing?
Amazing!
Great chatting with you man!
Likewise!
great interview. he is a go getter. love a update next year.
Absolutely! I’ll have him back!
Great interview guys! Arek… do you pre-shop your idea with banks or do you first get a contract with the seller and then go shopping for a bank? I assume the latter is how you do it. And if you do it that way, do you tell the seller you may need some time to find a bank to get on board with this? Or how many days do you write into the contract to get financing?
Awesome arek is great
He seems to be doing very well! Excited for him to pass 1000 units!
@@doingcodythingsyoutube could you explain the difference between what you guys did. He didnt mark as capex and you did and bank saw differently? Think it was something along those lines
Great Interview
Thanks Bob!
At minute 20: you mentioned that you like to depreciate larger purchases rather than depreciate to keep your P&L. This is so it is easier for you to create relationships with banks? Looks like your income is higher than if you expense it?
Cap ex allocation VS repairs is viewed different for write off purposes. Sounds like Arek does it differently than me and that changes bank ability!
@@doingcodythingsyoutube Does your epense ratio include the cap ex work then? Thanks!
There should be a reserve in the budget but if I put on a brand new roof for $70k I’m not including that in an expense ratio because it’s not a regular operating expense
@@doingcodythingsyoutube Great thank you! So the reserve is in the expense ratio and should be able to cover major expenses over time...This is an area I've struggled with
Can you make a factor rate for dummies video? Lol
Yep!
what's up with your hair? i am so confused.
Alopecia is a weird thing, had it since I was 2. Clean shaved shortly after this vid :)
@@doingcodythingsyoutube ok sorry to hear about that. hope you are doing well. God Bless :)
Could have much worse problems I suppose!
Great interview guys! Arek… do you pre-shop your idea with banks or do you first get a contract with the seller and then go shopping for a bank? I assume the latter is how you do it. And if you do it that way, do you tell the seller you may need some time to find a bank to get on board with this? Or how many days do you write into the contract to get financing?