All Forum Posts by: Christopher Pride

I agree with @William Whitley.  The best course of action for you is to hire an attorney to deal with it.  You are treading on thin ice if you follow other advice of confiscating the property/apartment yourself.  If your niece hires her own attorney you might get screwed even further.  Moral of the story:  don't rent to friends or relatives.

Hi Chris, aside from clearly having an intelligent name, we're neighbors!  It looks like we're both currently looking in the same markets for a good deal.  Perhaps we should discuss.  I will happily share what I know.

Congratulations on passing the exam.  I think you know by now you will need a broker to work under.  I suggest you start interviewing agencies in your area that focus on commercial real estate and work with a broker you mesh well with.  From there you can study what you want to learn but getting with an agency should be your first step.  It's not incredibly common to land a titled job where you'll be starting out learning these things.

Yes I have been checking out several manufacturers. I have explored duplexes, as well.  The issue always ends up being transportation.  The materials can be fairly low, then you start doing the math on loading up multiple semi trucks and the savings you thought you had quickly goes away.

I found one manufacturer that puts a 4 plex on the foundation, gets the basics hooked up with a local contractor finishing the details...$659k! With comps at $725-750k there isn't much room for a profit. I'll keep trying.

Someone mentioned but a really good way to get going is to start listening to the podcasts on this site.  They have a ton of good info and you can basically be a fly on the wall during some killer conversations.  Also, start taking notes...on paper or computer.  Just start jotting down things that interest you or you want to learn more about.  From there you can narrow down a strategy.  Like many mentioned, though...your first step should be a house for yourself.

That's a good idea.  Yes but if you ask me there are no fish here, the trees are just trees and it rains A LOT! The area is going to explode soon (it's already happening).  I am caught between keeping it a secret and wanting to sell them a place. 

That said, it's hard to make multifamily profitable unless you build.  Not a lot of inventory but there is enough land and demand is there for rentals.

Thanks, @Jay Hinrichs for the advice. I was hoping someone local would pop up but I will start looking inland. There's a few subs here and some manufacturers have their own but you're right. Trying to get help here is tough. The biggest cost hurdle with prefab when you're rural is transportation. It costs a lot to drive a house.

Hi I am looking to develop 4 plex properties in the SW corner of Oregon. I have experience with fix and flips and I'm about to be (re) licensed as a Broker in Oregon.  I have never done a ground up build. I am looking forward to the challenge but could use the advice of someone more experienced.

The plan: Have close to 200k to put in, willing to do leg-work to buy land, get permits, build (likely modular/manufactured), finish, rent for 2 years and flip.  I could use someone with experience to mentor, help with financing hurdles, and advice throughout the process.  

I would also consider a larger or long-term project including buying and bifurcating, building in phases and other methods depending on property, opportunity and market conditions.

https://www.airdna.co/

Someone mentioned but a good resource are the podcasts.  Start listening to them one after the other.  Take notes to reference later.  You'll come a long way with this strategy.