General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago,
DONTLISTEN TO BROKERS (THERE'S STILL GOOD DEALS OUT THERE)
Agents always tell me, "the market is hot. You won't find apartment properties at a discount".
I never listen and decided to go to direct to owner approach instead. Even though I haven't ran into a real motivated seller yet who's willing to sell below market yet I know deals out there exist.
Well I was scrolling through fb today and saw my friend just closed on a 54 unit apartment building and he got it for $24k per unit ($44k with rehab cost). Since the average rent is $765 it’s worth $38,250 per unit so he got a great deal! Numbers wise that a great deal.
I was tempted this to forward these to brokers who were telling me everything is selling at market so I can tell them how I really feel about them, but I didn't because I knew that would not solve anything.
Seeing my friend's FB post gave me hope that my team will find a deal that fits my criteria soon.
After being genuinely happy for my friend I’m thinking to myself what did he do that I’m not doing? What can I do to get this apartment deal quicker? I just wanted to post this to show you that great deals exist!
I just can't wait to close on my first apartment deal. My higher self wants to inspire people and show everyone that if I can do it so can they. My higher self wants to give back to my community.