All Forum Posts by: Cecile Poyet

Hi, I'm looking for a mortgage broker who operates in Florida. I was referred to JVM Lending, but they only work in California and Texas. Does anyone have a kick-a*s mortgage broker? Thanks a lot in advance! Cécile

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That makes sense. Thank you @Avtandil G. What posts from Wes do you recommend in particular?

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Sacramento, California

Thank you so much for the detailed additional information @Chris Clothier Out of curiosity, are there reliable public websites that show the average price per type of house per neighborhood?

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Hi fellow investors,

As I'm running Rental Property calculator analyses like it's my job, I'd love to know: how do you estimate the right price to pay for a property? @Brandon Turner says a rule of thumb is to pay for at least 20% less than what it's worth (that's what he defines as a deal). But how do you know what the property is truly worth (when it's not commercial)?

In his post, @Chris Clothier even says "We know in each zip code and often by neighborhood, the exact price per square foot that we want to pay. That makes it very easy to make offers." How do you do that Chris?

Thanks in advance for the additional info.

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Thank you so much @Lloyd Gomes

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Thank you so much for the pointers @Jon Crosby I appreciate it!

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@Lee Haenschen, I feel some of your pain. I found this thread to be really helpful: https://www.biggerpockets.com/forums/12/topics/687615-so-whats-holding-you-back?page=1

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Hi Elliott,

Can you please explain what you mean by "11 unit at a 20 cap, and a 16 unit at an 11 cap" for the newbies like me? I'm also curious to hear where you think the best cash on cash returns are in the U.S. for MFU. I heard the Midwest is excellent for cash flows. What are your thoughts?

Thanks in advance for sharing your expertise.

Cécile

Originally posted by @Account Closed:

@Xander Snyder

Thanks for the kind words!

@Xander SnyderGoing with a good sponsor is very hands off, although you definitely have to make sure you grab a good sponsor. I think for someone with a lot of money to invest big MFR is a good approach because you can actually place all of your money. For guys like you and I, however... we're not so large that smaller property is insignificant to us.

& I'll tell you this, for sure: you're going to have an easier time finding smaller properties at above market cap rates. I see it all the time- the larger the building, the more likely someone is to price it based on "national" cap rates. I had one seller approach me with an 11 unit at a 20 cap, and a 16 unit at an 11 cap. Same market, same condition, both near market rents.

For someone new, if you're willing to be a little active (which you would benefit from at first-you'll learn a lot), I would recommend picking up some high yield smaller properties to cut your teeth in this business.

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Hello fellow BP investors,

I've been learning more about Sacramento and have a few questions for the veterans:

- Where can I find the latest and greatest info on neighborhoods and local real estate market? e.g. crime rates, rent trends, emerging areas, construction rates...Is there a newsletter you recommend I subscribe to? Websites that are particularly useful?

- I am planning on doing a day trip in June. How do you recommend I best invest my time there?

- Last but not least, what's considered a good NOI for a MFU in Sacramento?

Thanks in advance!

Cécile

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All Forum Posts by: Cecile Poyet

Cecile Poyet has started 7 posts and replied 23 times.

Post: Mortgage Broker in Florida

Post: How's the MFU market looking in Sacramento?

Post: How To Determine Price Per Square Foot?

Post: How To Determine Price Per Square Foot?

Post: Sacramento: Should I Stay or Should I Go?

Post: Sacramento: Should I Stay or Should I Go?

Post: Hitting a brick wall

Post: Hitting a brick wall

Post: Hitting a brick wall

Post: Sacramento: Should I Stay or Should I Go?