All Forum Posts by: Alain Perez-Majul

@Craig Herring I spoke with LS, and it will likely vary depending on the state you are sourcing. But on my end, I first narrowed Geography by the counties I'm interested in (you can play around with this yourself, of course, depending on your target criteria). The key for me- and again, this might not be found on your end, depending on your market, and different cities record things differently- was to do "County Land Use" under the Property tab. From there I have access to options of "4-9 Family Apts," "20-39 Family Apt," and "40 Or Mor Family Apts" (wording changed depending on the county, which you have to choose). You can also play around with Property Type > Detailed Property Type > "MULTI FAMILY 10 UNITS PLUS" or "MULTIFAMILY 10 UNITS LESS"- depending on what you're looking for, of course. 

Anyway, hope that helps! Not sure how the deliverables compare two each other depending on the route you take, but those are likely the best criteria to play around with.

Cheers

@John Britt I feel like a rings a bell, but no, I can't claim to be familiar.

@Scott Bottomley awesome, Scott, thanks! Touching base with you there :)

Thanks for the feedback, Enrique! I have access to Costar (not Yardi, I don't think, but I'll ask) through a close friend of mine who's a commercial broker, so I'll be sure to play around with that. 

I played around with Realist and Listsource quite a bit today and also spoke with their support team and was able to make significant progress using their platform, also!

Hey guys!

For those of you building marketing lists for apartments, which sites and what criteria are you using? We put one together through ListSource using criteria of "Residential: Multi Family" and "Residential: Apartment" and 95% of results were duplexes and quads... 

For those targeting anything in the double-digit unit count, what have you found to be the most successful way of getting good data?

Thanks for the help!

Cheers

For sure touch base with @Josh C. with CityPlace PM, as well as @Derek Gendig with Evergrow PM. 

Hey guys. I'm a local full time investor and have been wholesaling for the last 4 years. I'm pretty well connected in the local RE community and might be able to give insight. Send me a connection request and I'll chat with all of you, perhaps I can be of guidance.

Cheers

@Adrien C. Exactly! Yes, I had heard the same, especially in regards to the fine line of going from an eviction to a foreclosure, and how it's up to the courts to choose. The 8-10% of equity loose rule of thumb by the attorney is good to be mindful of- appreciate that detail! And also, good point on the city issues... haha

@Chris Seveney

Excellent! Two important points to be mindful of, imo. Thanks for the clarification, Chris.

Cheers

@Chris Seveney awesome Chris, thanks for the feedback! A couple follow up questions from what you shared:

1) I hadn't considered the recourse point. In a foreclosure involving a note/mortgage scenario, there is also no recourse, correct? 

2) "As a sidenote if you go to sell the LC or mortgage, buyers will value the mortgage at a greater price than the land contract." Yup, exactly what I've heard before. But I still don't understand why- care to elaborate just a bit more?

Appreciate your feedback!

@Daniel Dietz Yeah, that would be such a tough and unfortunate situation to be in. 90% pay down to then be evicted... From what I understand, that is why rent-to-buy/lease-options can be tricky when it comes to evicting a tenant (investors often times think it's pretty cut-and-dry). Since there is built up interest via equity build up and [possible] physical improvements of the property, although technically one can simply evict the tenant, for all practical purposes a judge might consider the tenant-buyer's interest in the property and require a foreclosure instead of a simple eviction. This is simply what I've gathered from several conversations, and it's not something I have personal experience with. But it makes sense, and for example, in the case of your mentioned farming example, would seem fair to me.