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All Forum Posts by: Cedric Van Duyn

Cedric Van Duyn has started 22 posts and replied 51 times.

Post: Norada Real Estate Investments -

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

@Edwin L. Thank you... I bought in Grandview, Independence & Raytown

Post: Norada Real Estate Investments -

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

Hey Marco, thank you for your response to my sentiments and situation stated above. I understand that no-one can control market trends and yes, the market seemed to soften during my buying spree. Dang. I hold nothing against you or Ryan (who was my Investment Counselor), I was treated very well by both of you and have extremely positive sentiments towards your generosity with the Goodwill Credit extended towards me when the initial pinch came along. That was a clear statement of your heart and intent towards me as a newer investor trying to move forward in the quest for passive income. I understand that much is outside of your ability to control (markets, management decisions, repair issues, etc.)

I will be honest/repentant and state that it would probably have been more productive if I had contacted you & Ryan before making the above post from a place of frustration. I will contact you now and see if we can find a strategy to stabilize my portfolio, and update this post accordingly.

The core motivation of my comments was not to cast shade on Norada or the local provider, but rather to point out the need for the investor to make sure that the cash flow margins are big enough to absorb the unexpected.

I am contacting you & Ryan next to see if we can find solutions.

Thanks Marco

Post: Norada Real Estate Investments -

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

Marco seems like a great guy to me and I liked the Investment Counselor I was connected with. However, the 3 SFH's I purchased in Kansas City have been a money trap due to constant costly repairs, constant tenant turnovers and thus constant re-leasing fees (1 full month rent each time), non-rent payments, eviction, etc. Rental Projections from the Norada Website were not met on these properties and as a result cash flow margins have been less than expected, leading to negative cash flow overall since purchasing these properties.

You should be aware that Norada hands you over to the local provider and then you are working with that provider going forward. If I could go back in time I would warn myself against the investments I was encouraged to make. Currently trying to figure out how to extricate myself from the situation I find myself in.

I don't think Norada is shady, but I would say be very careful that you don't end up with thin margins and constant heavy expenses like I have.

Post: Seeking Recommendations for Door & Window Package on 6-Plex

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

I own a small 6-Plex in Tacoma and would like to replace all windows & exterior doors in the near future.

2 doors per unit = 12 Exterior Doors

3 Windows per Unit = 18 Windows.

Does anyone have a recommendation on how to get this done in an effectively and economically?

Thank you in advance!

Post: $100K+ Under-Market 4-Plex in Hub of Olympia! Strong Cash Flow!

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

Fully rented 4-plex on a strategically located cul-de-sac in the heart of Olympia’s westside retail zone, minutes from every imaginable convenience.

Each spacious and meticulously maintained unit offers 2 bedrooms, 1 bathroom and an attached garage for a vehicle and storage, perfect for students, professionals, seniors and small families looking for an excellent quality of life close to every conceivable amenity.

Rent-to-Price Ratio is over 0.9% and will easily rise over 1.1% with natural Rent Increases over time and Utility Payback. Cap Rate is @ 7.9% which is an anomaly in this market for an asset of this quality and in such a desirable location, providing well over $100,000 of instant equity based on the Market Cap Rate. Price Per Unit and Price Per Square Foot comparisons provide even larger equity gain. Current COC-ROI is @ 10.4%, but with Rents raised to Market and Utility Compensation has potential to be raised over 22.5%.

Property likely qualifies for special Investor Cash Flow Financing Program which approves financing based on property performance and does not judge buyer's income, employment or Tax Returns. Fantastic 1031 Exchange opportunity!

Please email/text/call if interested. Qualified Buyers only, please.

Cedric van Duyn
cedric.vanduyn@gmail.com
253-777-9078

Post: 20 Units in Lacey, WA, $335K Equity, $5K/m Rent Upside! -Duplexes

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

10 Large Duplexes in a most desirable neighborhood and location in Lacey, WA right on the I5 growth corridor. The tranquil neighborhood is tucked behind a major retail development with Costco, Walmart, Home Depot and a host of other retail, food and service options. With combined Rents currently more than $5,000 under market, this portfolio provides a substantial value-add opportunity, even though the purchase price of $3,220,000 conservatively offers the Buyer an instant equity gain of over $335,000 based on market norms.


The portfolio consists of 6 extra-large Duplexes (12 x 1,400 SF units with 3 Beds & 2 Baths + Bonus Room) and 4 large Duplexes (8 x 1,275 SF units with 2 Beds & 2 Baths + Bonus Room), perfect for families looking for an excellent quality of life close to every conceivable amenity and in proximity to schools. Separate entrances, large interiors, double garages with extra storage space and peaceful neighborhood ensures average tenant retention rate of 5 - 8 years.

Considerable recent Cap Ex improvements and stable Property management of 12+ years in place secures this investment for a passive investor who will only oversee minimal tenant turnovers.

Call, text or email for further information:
Cedric van Duyn
cedric.vanduyn@gmail.com
253-777-9078

Post: What to do with Abandoned Vehicle in Parking Lot

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

Hi Property Managers,

I have been notified that I have an abandoned vehicle in my 6-plex parking lot, located in Parkland, 98444. I am not sure of the proper procedure to have the vehicle removed.

Could anyone help me out?

Thanks in advance!

Cedric

Post: Kansas City Cap Rates - Multifamily

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

12 units, 1990 build, in Pleasant Valley (B Class)... thanks for checking!

Post: Kansas City Cap Rates - Multifamily

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

Any updates on KC Cap Rates for 2018?

Post: Selling 2nd Home - How Long until Proceeds are Taxed?

Cedric Van DuynPosted
  • Rental Property Investor
  • Gig Harbor, WA
  • Posts 54
  • Votes 23

My father-in-law is selling his 2nd home and needs to know how long he can hold the proceeds before taxes will be due? This property has not been operating or declared as a rental, so 1031 is not applicable. Are we correct in assuming that as long as the money is reinvested in 2018 then no taxes will be due for the proceeds of the sale in 2019?