All Forum Posts by: Andrew Kougl

I used to get caught up in the per door amount too. I realized not everyone is calculating their cashflow the same way and the amount down obviously plays a huge part.

Now I calculate my own cash per door but when comparing myself to other's deals it's all about the CCR and Cap Rate if multi. Those ratio metrics are also easier to compare market to market.

Hey Tony,

I'm in the same boat, looking for the same thing as you. I've been frustrated by the lack of inventory out there right now, but don't get discouraged. You never know when the next listing will pop up and at least running the numbers gives me a sense of moving forward. I know it can be tough and I get down from it too but just know you're not alone.

Andrew

@Kapil M.

Did you end up purchasing? I'm an OOS investor looking to purchase multifamily in Kentucky as well. Would love to hear if you pulled the trigger.

When I bought in Chicago heights at the end of 2017, the lender didn't provide the taxes without the homestead credit (I'm OOS) and that hurt cashflow but then the taxes went up the next year and I'm paying almost 8k on a house I bought for 93k.

If the loophole you suggest exists, just for the homestead credit, that's amazing. Hopefully a RE lawyer or CPA can chime in.

Currently I just appeal the appraisal like most people. Good luck. 

I'm looking for the same thing. Seems like inventory is really not there right now. I've made a couple contacts with turnkey providers that I can share with you if you message me.

I would say, thanks but I'm going to have to pass. There's no room in this deal, it's not going to be good for you to carry it and investors aren't going to want it. You don't want someone's headache on an underwater home.

@CJ M.

That's amazing. Most turnkey providers I looked at listed at or above market making them difficult to cashflow.

Nearly infinite return sounds good to me. I'd love to get that.

Congrats on finding the end of the rainbow!

Thanks Jim, I'll look them up. Do they actively manage your properties? How responsive have they been?

Hi Everyone,

I'm looking to invest in the Lexington and surrounding towns and was hoping to get a recommendation on a Property Manager. Does anyone know of someone working in the area that they'd highly recommend? I'd be investing from out of state and really hoping to connect with a fabulous property manager in the Lexington/Winchester/Georgetown markets. Experience with Section 8 tenants is a plus.

Thanks and I appreciate your help,

Andrew

@Bernadine Breault

Property taxes on chicago are only going to go up so if you can cash in on that equity to buy something with better returns, you should go for it. Make sure you've calculated what you'll take away after listing the property for sale, lost rent and paying taxes, fees and commissions.