Investor · Boise ID · Member since 2014 · 113 posts · 25 votes
I'm looking for B/C class properties 5 to 15 units preferably mostly 2 bed units with pitched roofs in MSAs with good job and population growth purchase price between $400k and $900k and a cap rate of at lease 7%.Markest I am particular interested in are Fresno CA, Bakersfield CA, Chattanooga TN, Minneapolis MN, Des Moines IA
Not surprised that Des Moines Iowa is on your shortlist. I just made the jump to base my business here. I don't have anything to sell, but if you have any questions on the market, I'd love to help. I'd recommend getting a hold of my realtor. She's a hustler! She's pretty connected and comes up with off-market properties all the time. Liz Prue - [email protected]
Chase, I'm going to make my way to the Des Moines area sometime in the next two weeks. I certainly want to meet and catch up when I do. What's a good number to reach you at?
Off market, 26 units comprising two properties across the street from each. We've extensively rehabbed one of the properties and the other is in great shape to begin with, but below market on rents with us pushing them up. If you wan to PM me I can give you more details.
@Brian Levredge I appreciate you letting us know about your Chattanooga property but I really would prefer bigger units and for my first commercial property I want to stick with less units rather than more. I have had smaller residential mulits for several years now and I just feel like its a little to big of a jump at the moment to go to 26 units. If you come across anyting else please let me know.
I have a 12 unit ( townhome style, 2 bed 1 and a 1/2 baths) in Ringgold GA about 10 miles from Chattanooga in a great school district. I wasnt planning on selling but Id sell it at something better than a 7 cap if you are interested. Noi is about 65K
I'm fairly new to investing and I'm focusing on wholesaling right now-hopefully finding some deals for my company along the way. I can save your preferences and I will email if I get anything. If you would like that, just send me a PM.