All Forum Posts by: Ally Mager

@William Costello

We have looked slightly into the midwest, but not very deep. The sunbelt and Idaho are definitely very competitive right now, Idaho especially! I'll look into those cities a little deeper. Thanks!

@Harrison Hildahl Thanks! I looked at M&M website last night and saw a few listings that may fit what we're looking for! 

@Cody L. We currently own pre 1980 construction units, but would prefer to transition into newer construction. I agree that if a property is well taken care of, then the build year isn't such a factor. You can have a property that was constructed in 2010 be in worse shape than one from 1970! All depends on how the property was taken care of. 

We're ruling out Houston due to the weather and being so close to the coast. While we will follow where a deal takes us, we also want to be comfortable with where we're going to live. 

@Brandon Sturgill

I forgot about looking on Marcus & Millichap! Thanks! There’s a lot more properties on there that I can’t find on loopnet or Crexi.

@David Li

We give all accepted applicants 24 hours to pay DTH. If not paid within the 24 hours, then we move onto the next applicant. Saves us time, headache and money in the long run!

@Randall E Collins

Thank you, but that property would not fit what we’re looking for.

@Tim Polk

We have some family there, but have never looked deep into it due to not wanting to live there personally. I’ll do some more research on the state though! Thanks!

@Corazon B.

In our experience, most of our applicants come from Facebook Marketplace and Craigslist. We use Appfolio for screening, which does a nice job.

Credit can tell you a lot about a resident. The higher the credit, the better chance you have of a responsible resident. We also require 3x the rent for income, which has helped reduce delinquency.

@Cristian Vences

Thank you, but that property doesn’t fit what we’re needing. Do you have any others that are between 18-28 million in the DFW/Waco/Lubbock area?

@Don Spafford

Thank you for explaining the 1% rule!

We had found a few properties in East Idaho that fit the price range, however had too many 1 bedrooms. Due to self managing, we don’t want to be spread out over several cities nor more than 2 properties.

We currently have a 60 unit building, 28 condo complex and 7 4-plex’s all within 1 block of each other, which works nicely.

In the past we did look into commercial, but my father decided that he would like to stay in multi family.