All Forum Posts by: Account Closed

@Account Closed that day is already here my friend. Feel free to PM me to learn more about our company's powerful software.

@Account Closed

Not in LA, but happy to talk. Depending on the size and scope, I may have some recommendations or direct help that I can provide.

If you can underwrite to a 50% NOI of actual number. Don't underestimate the Capital Expenses. I would budget $500/yr/door and work down from there depending on condition of big items. Matt Faircloth does a great job explaining how he assess the physical property, and I also like Beau Beery for how he underwrites the numbers.   I have a podcast and interviewed both about how they underwrite.  The link to the podcast is on my profile.  Shows #83 for Matt & #93 for Beau.

Good luck.

Darrin

@Account Closed

If you were driving in Minneapolis and you think there is an over supply, you don't actually understand any market dynamics here.  Total vacancy rate for the Metropolitan area 2.3%.  Dramatic shortage of all kinds of housing especially rentals.  Vacancy rate in prime A locations -less than 1%.  I can't speak for the 100-300 unit new construction rentals at double the areas average rents that have been put up in the past 2-3 years but they look close to full and are in the vacancy number.  When they are that expensive, they often entice new renters just to fill up so that's possible.  I own a dozen properties in Uptown ( trendy/high demand) and have a 7 year vacancy rate of substantially less than 1%.   I've had several units turnover this summer and all were rented in 1-2 days with up to 15 people requesting showings the first day I posted on Craigslist and Zillow.  

Hi @Account Closed

In my opinion know what you are looking for. For instance "I want a duplex in the following school district, no more than X dollars and rent around X" or "A 3 bed 2 bath". Even "Where do I need to be to find a place that meets this criteria.... under 150K rents over 1800 a month, walking distance to shopping... etc" are all good. Have your money lined up "Here is a preapproval" or "here is a Bank statement".

What is bad is:

"I want a deal where is it"? We have no idea what you consider a deal, I know what I do and I know what each individual investor client I have does and they are all different. I need to know what you want because what's a deal to you is a money pit to someone else and vice versa.

So in short help us to find what it is you are looking for, Good Luck!