All Forum Posts by: Brandon Carriere

It all depends on the numbers and the return on that investment

Whats the price? 

What would it rent for?  

Condition? 

Taxes?

Location? 

Lots of variables for anyone to give you a legitimate opinion

@Brian Ploszay

Can you elaborate when you say "value"?   Obviously in small midwestern towns, cash flow is king and the only factor, as we all know there's little to no meaningful appreciation..   

I invest in a very very similar sleepy depressed town, so your answer somewhat applies to me as well..  As long as the numbers (price and rents) make sense, not sure why it matters if its a place where people want to be or not?

The town I invest in hasn't changed in 20 years, and will prob never change..  Steady Eddie as some would say, definitely not sexy though..   

 @Matt Popilek

I'm in the midwest and cant get close to those numbers..  Can you post a snippet of 1 of your multis (under 10 doors) and how the numbers look?  Thx

Have your agent give the appraisal to the listing agent and request that they lower sales price to appraised value..   Thats always the first move by the buyer in this situation..   The seller can either accept it, reject it and cancel, or negotiate with you..  Thats a HUGE difference at that price point, so unless you can come out of pocket with some cash, or unless the seller is very desperate and in a hurry to sell, this could be a dead deal

I did a cash out refi loan amount of 24k through Wells Fargo..   Closing costs were about 3k total.. not ideal, but better than having equity tied up in a property 

Seems to be light on the estimates for vacancy, capex and repairs..  and light on the cash flow..  buying at the peak of this market with no cash flow seems risky 

@William Brown

Congrats on passing the test..   This will always be a relationship business and the Open Door like companies will come and go..   Good luck!

@Johnny Lau  

The selling agent is morally obligated to have your best interest in mind??  HAHA, now thats funny..   In many states, the listing agent wont even have a fiduciary duty to you, which means you've likely gotten fleeced in the past and didn't even know it..  

Its all good, until its not good, and when it hits the fan you're screwed..  You gonna be your own lawyer too?   Geez...  

@Michael Junior

As an amateur OOS investor, for the love of god, please don't buy a 4-plex here..  I forbid you to do that, lol

No, no, and no..  @Terry Lao is right, the time has passed..  We're at or near what I feel the short-medium term peak is, and cash flow is mostly horrible..  Keep going east about 1500 miles to where the money is..  I too have been reading the "experts" seeing around an 8% increase this year, but what I'm experiencing on the inside is a different feeling market than last year..  Id agree that the under 300k price range will be the hot spot and appreciate the most because its all thats affordable to a majority of the locals

I guess if spending 300k on an SFR to rent for $1400/month gets your juices flowing, (with almost all the appreciation already baked in that lofty sales price), then you hit the jackpot...