All Forum Posts by: Bryce Nerland

@Bruce Tieu The Tallahassee market has been good to me. We have colleges and state jobs that are unlikely to leave the area. We have beautiful canopy roads and close-by beaches. We are one of the fastest growing cities in the country right now.  https://realestate.usnews.com/places/rankings/fastest-growing-places

I live and invest in Tallahassee. It has been a great market for me. North Tallahassee has some of the most desirable neighborhoods and higher home prices. We have not seen the property value decreases so far that some other areas of the country have experienced. Rents have remained steady for the past 12-18 months.  Feel free to reach out if you have any questions.

Thanks for sharing. I see your work on the $595,000 downpayment from 4 hard money investors. What kind of financing terms were you looking at for the remainder?

@Nina Sid I have not invested in syndications, but my father has. Despite good returns, he recently needed to exit from his positions. During this process, we discovered that there is an industry that resells positions in syndications on the secondary market.

Maybe you ought to look into buying positions in investments that were entered at yesterday‘s interest rates and with an existing track record before looking at the new opportunities. There are some deals out there. Best wishes in your search.

@Trei Baker Welcome to the world of real estate investing. I’ve been at it for 10 years, and it’s been great to me. I’d be happy to help you if I can.

@Tonya Hardaway Hey Tonya. I invest in Tallahassee and have bought from wholesalers in the past. Right now, I’m interested in “subject to” deals with in place financing. I’d be happy to connect or to work up some wholesale deals.

I am looking for a low or no cost way for my tenants to pay online. I heard great things about Cozy in the past, but now that they have been acquired by apartments.com, I am less inclined to use this method for reasons that I will not go into here. What are you guys using for online payments and how do you like the service? Apologies if this topic has been posted recently. Everything I could bring up in my search was a little older.

@George Yu What kind of land price do you look for to build a 36 unit complex?

I bought my first property in 2013. I paid $65k for a townhouse and rented it for $780 at the time. This was an average deal bought off of the MLS in a C neighborhood.

Today, the price to purchase the same property would be $85-90k. The rent on the other hand only increased from $780 to $840. I am confident the townhouse has rented at market value both then and now.

In the 6 years that I have owned it, the property value saw a 35%-40% increase while the rent only went up by 7.5%. My other properties have followed a similar trajectory.

I am wondering why rent rates do not seem to follow the pace of property value increases. Have increased rent rates historically trailed property value increases? I struggle to understand the dynamics of the the real estate market.