All Forum Posts by: Alan Zee

@Ben Wilkins

Ben, I agree with you. Network network and more network. Build a canal, etc

With that said, same goes for raising money. You said you’re up against your own finances instead of finding good deals out there. Plenty of deals you’d say? So why is raising money an issue for you?

Finding money is easy if you have a great deal. Ask anyone in your circle or on BP or REI meetups. If you have a great deal, money part will be easy. I have money but no deals. :(

You can build a canal to funnel money too!

Just find me a deal that I can’t say no to! :)

@Henry Lazerow

From what I see, it’s the lack of inventory driving up prices.

If you just go on LoopNet, you see only 1-2 pages of listings this year for MF for my markets compared to 3-4 pages last year. I get a lot less email alerts and listings from agents in 2019.

@Mike Dymski

Where are you getting your deal flows when the river is dried up?

I used to analyze 50-100 deals to land one deal. Now I don’t even see many deals to analyze.

@Joel Fine

Cleveland might be an exception to the rule.

After all, Cleveland found a great deal in Odell Beckham. Lol

What neighborhoods do you invest in Cleveland? You buy Triplex and quads ?

@Chris Martin

That’s a great idea. Somebody is buying. Banks are still lending. But maybe something is on the horizon that I don’t see yet.

Over the weekend I saw a house that was sold for 80k in Newark NJ in 2017, in C- area asking for 525k. It’s renovated, but it’s still in a war zone.

@Kirby Davis

Everything has a cycle. Whether it’s real estate or stock market. Trees don’t grow to the sky.

I am being patient and disciplined investor. But the current trend has puzzled me with no end in sight.

@Kirby Davis

These multis are flying off the shelves like hot cakes.

This can’t continue but there’s still. Plenty of money chasing poor returns

I am not sure what to make of this real estate market in 2019. The prices are out of control for lousy multi families. These properties don’t cash flow unless you buy with 50% deposit.

With 30% down, you’re just breaking even. I’m talking C&D properties in C&D areas.

In Cincinnati where I invest, a 4plex a year ago was listed for $35k- 40k door. Now they are listed for $50k plus/door. Rents remain the same.

In NJ where I’m also looking. Prices are 20-30% higher than a year ago. The lack of supply are causing owners to ask sky high prices for fixer uppers.

This trend has continued for the last few years but the last 12-18 months it seems really out of control.

Im interested to hear the opinion of other investors here on the current market? It seems everyone is chasing “ doors” without calculating the numbers in my opinion.

@Corin Prendiville

Thanks Corin.

Where did you live in the west coast? Did you live in Long Island in the past ? I don’t know many people investing in LI for the reasons you mentioned.

I will be in Dallas for a few days in June to experience the “hot” weather and see if that’s something I can bare and check out some potential areas we want to live. I’m looking into Frisco/north Dallas/McKinney.

My wife and I are both tired of the cold long NY winters and want to stop living in a “shoe box”

Are you already investing in the Dallas market?

@Sherry Patterson

Hi Sherry just sent you a PM. Hopefully we can work together