All Forum Posts by: Andrew Urbanski

Kate, that blog has been deleted and does not exist....

I prefer SFH but I will probably be buying multifamily as I have $1m to invest. But Im also concerned about simplifying management as I going into retirement and want it problem free. I will be using a property manager but I hear that I need to watch them in case they dont to things correctly? Is there a way to make it so I only receive a check each month and no problems?

I understand that cap rate isnt the sole assessment with investing in a property.

For example people have mentioned Euclid, Toledo and Cleveland Ohio. But my current research indicates that the populations in those cities have declined by appx 9 or 10% since 2000. So obviously as a long term investor I wouldnt buy in a city where people are leaving as it would increase the vacancy factor and rents would decline if it continued.

Im still looking for a high cash flow (which indicates a good purchase price) in a good city eg population growth, low crime, employment etc

Sorry the above info is incorrect...

He did send me the figures and the rent is only $12k a year which is 13% less expenses its only a 9% cap.

Example of SFH cap rate from Tom:

20801 Miller Ave. Euclid, Ohio - $91,000.00

• (3) bedroom (1.5) bath
• Yr. 1 Projection - 18% ROI
• I dont know if the ROI is after expenses or not as he didnt send me details. I usually work on expenses being 1/3 of income so this would be a 12% cap at worst. I still haveto check out other things about Cleveland before I invest there.

I checked out holdfolio as suggested by Kate and I found the site deceptive,so have you found them to be honest in their dealings with investors?

Thank you about Cleveland, I have found SFH showing up to 20%.

what is an lMO? I usually check all the figures so double check the cap rate calculation.

thanks

Thank you for your warnings and Im surprised by your responses.

I have friends who have recently bought condos in Tampa in C class area getting 10% cap. Some cities like Milwaukee IL I can get a higher cap rate but the crime stats put me off. What about Rochester NY which has a higher rental return?

Is there a better way to make money in property as a 6% cap doesnt attract me.

Im looking at retirement income and want to get the most for my investment on a regular basis without too much work, so Id use a manager. Any suggestions on where I can get 10% cap or better in a reasonable area?