All Forum Posts by: Daniel Kidd

Best advice on multi is that if you over pay then you have over paid. Simple as that. Don't go outside of the 1% rule or at least expected future rent hitting 1% on res multi unless it is new construction. You can overpay (compared to the other $/door sales comps) a bit on new construction and I recommend considering airbnbing out the side you are house hacking while it is brand new and after a while just rent it furnished long term then just long term and repeat when you fix it up. I would also avoid mixing long and short term tenants across units. 

Best bet is to wait for the moratorium to lift and the courthouse auctions to open up unless you have someone who can feed you good deals now. SFR are ok to overpay a bit right now depending on the strategy IMO but people should be worried about overpaying for residential multi with non primary conventional or commercial loans. I watch them flying off the market over and not coming close to the 1% rule and I just look at some of mine that are closer to 1.3% or better and I am still finding it hard to pull a profit after 2yrs with a few CapEx fixes mixed in and I just wonder which calculator they are using.... idk. if you over pay you over pay. I would wait for the moratorium to lift. Hopefully it is soon.

@John J Garza Hey, just wanted to jump in a kind of reassure you that you will be able to use the VA loan here in Fayetteville NC to buy a 2,3,or 4 unit just fine. The average quad here goes for about 190-255. It is a bit of an odd market, and if you wanted to take a look at the multi that is currently available just let me know.

@David Hargitt If you are local to Fayetteville or have the ability to sit down and talk, then I would love to go over what I do and how I think I would be able to help you. I am a buyer's agent with Five Pillars Realty Team, and I work almost entirely with investors. I have a whole "Team" outside of that consisting of property managers, lenders, contractors, and other needed professionals that have worked well for me and my clients in this area. 

@Beau Webb Hey Beau, Congrats on the duplex and absolutely. We have one coming up on Saturday the 13th at 330. Ill send you the details in a second and get some contact info. 

@Lawrence Gillett sounds good, hmu whenever. 

@Lawrence Gillett Sounds good, and I hope moving goes smoothly for you. I'm helping two friends move today actually so ill be doing a lot of packing myself. Our next pints and properties will be on the 13th down in Fayetteville as well if there is any chance that you can make it. 

@Robert Shortsleeves Thanks for the shout out man. I don't know why I am just now seeing this. Anyway @Lawrence Gillett I am an agent in Fayetteville and originally came here for the Army and stayed for the investing. Feel free to hit me up about anything. 

@Royston Stephen Voglezon Thank you for the shout out and yes @Freddy Pettiford I would love to hear about any deals that you find. I have a number of motivated buyers who are looking primarily for BRRRR deals below 70K and any type of multi family at all. Of course I am happy to see anything that you find, but I simply promise to be able to move those kinds faster.

And if you aren't on our email distro for our meetups and would like to be then just hit me up. 

@Jessica Franco I still love that you were able to push the rent as high as you were. Awesome write up though Jess.