All Forum Posts by: Brett Danehey

Thank you everyone for the wisdom. I've actually been doing some digging into some cities I've lived in during my lifetime and have found one that single family looks like a home run. I was just so stuck on the multi thought process. 

Love the community here, everyone has such great insights and opinions. 

I've been doing all this homework on Multi family and have been focused on that with minimal/marginal deals out there. I've put out a number of offers and I'm pending on a multi, but the deal is slim. I've got my walk through tomorrow to see the condition of the place. But I'm seeing a number of SF coming up in the market that are priced well, better neighborhoods and looking at numbers cash flow is similar and the cash on cash is better. 

Thoughts on have I turned on the blinders to these really good opportunities because I was short sided with the "it's gotta be multi family". If we're looking at Cash flow for holding does it really matter if it's a multi or a sf if they flow the same?? I'm thinking No.

As I've been analyzing deals in my market and always trying to keep the rules of thumb in my head 1%, 2%, 50%. I keep coming back to it's tough to make happen. Looking at the evolution from 2013 beginning of the podcast, which I started at to where the podcast is now and how the markets have changed so drastically. Do you think that this is the evolution that we have left trying to find those 1%, 2% and have moved into the BRRRR method and having to search the country to try to find the 1%, 2% on untapped markets vs looking in your 2 hr radius??

I know many people were doing BRRRR well before, and it's not a direct correlation. But what are your thoughts, do you think the rise of real estate has made these rules of thumb a bit obsolete when analyzing deals??

I appreciate the tips everyone. This makes me have less confidence in my Agent...haha... 

Thanks

Ellis San Jose 

Question, I don't know if I'd say it's much of a sellers market, as two of the three have been on the market over 200 days. My instincts are to go very low on my offer, but I've got my pre-approval from my lender that covers the properties with plenty of room.

I'm shopping for a duplex/triplex in my area, and everyone that is occupied they are asking that I put in an offer and they have to accept to even view the property. I get that it's a bit of a inconvenience for the tenants but is this normal? Sight unseen I'm going to low ball like crazy, but I don't feel like having something excepted have to pay some type of earnest money and walk into a complete mess. 

Normal??

Good afternoon everyone. 

I'm in the process of shopping for a triplex/duplex. I admit I am not a trained eye on possible fixes outside of the "there's water pouring out of the sink" or simple things like that. I was thinking I should call a home inspector and offer them $100 or so to do the walk through on some properties with me to use their trained eye to point out any problems with these properties. It will hopefully save me some time on being surprised later and it will let me know a bit more on what the price/value is of the homes.  

Has anyone done anything like this before? If so was it beneficial, any best practices? 

Thank you!!

I appreciate the advice and thoughts. It's interesting the rentals filling up with the possibility of avoiding dorms. The area I have has other industries, that support it, but overall it would be considered a college city. 

Hello all, 

I've been looking at a college town/city as a place to buy a triplex. I wanted to pick your collective knowledge on your thoughts? My first opinion is with some of the ivy league schools saying they are going to be online only that this will create a domino effect and other schools will follow. Leading to no one to rent to... Also, what are your thoughts, if that domino falls, do I get a better deal on the purchase waiting to the end of the year? 

I know this is speculative in terms of how this is all going to play out. Any opinions or thoughts are welcome. 

Thank you

What are your thoughts on buy and hold off these sites? I'm not looking at appreciation but more for cash flow. I've be looking at the St. Louis market, b/c I have family there and my market Phoenix is pretty tapped. What are your thoughts?