All Forum Posts by: Alan Zee

Besides Loopnet for commercial listings, can anyone suggest a site where I can find multi family listings ? Both 2-4 units and 5+. Zillow doesn’t have the multi family option. A lot of agents I come across are not responsive. Either they are no longer agents or they are just too busy to be bothered.

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Convert to Japanese Yen and you’ll get 54million JPY in 2 mins.

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I always list my rentals on Craigslist. In NYC, I see a lot of rentals asking tenants to pay the 1 month broker fee. Is this the same in Dallas Texas ?

This agent I met told me it’s more common for owners to pay broker fee than Tenant. My property is in a Class A neighborhood north of Dallas suburb. Just want to ask other RE professionals.

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@Angie Lehnert

It's all foreign buyers, including Chinese. The Chinese mostly buy in major cities in CA and NY. Some Florida too. They buy mostly SFH in good areas for schools and pay cash. LA/ Orange County and NYC are cheap compared to properties in major cities in China like Hong Kong, Beijing and Shanghai.

But it has slowed down quite a bit since Chinese govt has put restrictions on money movement leaving China.

But I come across foreigners from all over.

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Same goes for a lot of international buyers buying all cash from all over- Egypt , Israel, Canada, Singapore etc. indeed chasing yield.

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Originally posted by @Jim D.:

@Alan Zee

Some people may be "chasing doors" as you say but I think a lot of people are chasing yield, especially those with deep pockets. A lot of folks have made considerable $$$ in markets, real estate, and just about everything else the last 7-10 years....and can't find good yield on the money anywhere else (can't get much interest in the banks) so they accept less return in real estate; i.e. they still like it better than other options. Anthony Wick started a similar great discussion on this a couple weeks ago and here was a personal example I gave at that time:

I have a friend in Silicon Valley; he and his wife have high income. He asked me about buying a property in Las Vegas all cash, I said cash-on-cash return isn't so great here right now. His answer was something to the effect: "I don't care. We have more than enough in the stock market. I just want a place to park some cash, get some diversification, and earn something." So, they essentially don't care if they earn 2.5% CoC or 7% CoC... they just don't want it in the bank or stocks or bonds. I'm not saying this is the case everywhere, just pointing out that the 'hunt for yield' as they say has been going on for some time with ultra-low interest rates on deposits.

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@Ethan Smith

Bergen & Hudson

Lately Essex

In Newark lots of D houses in. D areas

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@Rob Massopust

I know Orange county very well. I lived in Irvine, and now in NYC.

You don’t look only at the price. You also look at the rent you can collect appreciation etc.

in NYC, rents are north of $2000. In Ohio they are $650. In SF, rents are $3000.

Just like Amazon share is $1500 but Walmart is $150. You can’t say WMT is a better deal based only on share price. There are many factor, growth, PE, etc

Every investor has the their own criteria.

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@Joe Splitrock

That’s what I’m afraid of. Prices keep rising. I’ve lost and passed on deals because it either didn’t meet my cash flow criteria or someone paid a higher price.

Appreciation is hard to gauge And out of your control. So I stick to cash flow.

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All Forum Posts by: Alan Zee

Alan Zee has started 10 posts and replied 101 times.

Post: HELOC on rental property

Post: Websites for multi family listings

Post: How would you turn $500,000 into 5 million in 5 years?

Post: Who pays broker fee in Dallas Texas

Post: What is going on with this market?

Post: What is going on with this market?

Post: What is going on with this market?

Post: What is going on with this market?

Post: What is going on with this market?

Post: What is going on with this market?