All Forum Posts by: Dave Page

Hi All, 

I live in an area that has a large population that only speak spanish. I am now looking to enable all renters to make payments with an app that allows another language. Anyone have a suggestion on a app that will not cost a fortune? I only have about 10 units now.  

I like stacked.

The roof is a big expense and it allows more room for parking on a smaller lot. I get the exact same rent for upper and lower units. But that may be a regional thing since I am in Florida. 

There is a "c" quad unit in my area that is for sale. The realtor told me his phone is ringing off the hook with offers. He was shocked that there is so much interest during the lockdown but i suppose property is scarce now. I made an offer that kept me around an 8% - 9% cap and he said that there were better offers than that but they didn't sound like a cash offer. I'm not sure if it is worth a much higher offer. The main draw is that it is very similar to a unit that I already have in the same neighborhood. 

IC good point

I have attempted to, but they are to busy to return calls. So I will try some different ones. 

So although I could increase the value faster on a 16 unit. I probably would not qualify for it unless my net worth is the same as unit bought. 

So I currently own a 4 unit rental that nets about 32k and cash price was 360k.

I have about 600k left in cash to invest and was considering a 16 unit apartment. The idea is to get only one property instead of several. But i quickly realized buying a property between 2mil and 3mil after paying 30 year mortgage would produce about the same cash on cash (9% ?) income as a 2 more 4 unit apartments if I pay cash outright.

So can anyone tell me a reason to have to have to deal with keeping 16 units filled and having more risk that buying smaller units?

@Ned Carey Ya it would be cash. Thanks for advice

@Ned Carey It is 2 buildings 3 units per building on same property. Total of 6 units

I have a potential deal where 2 multi family units produce enough to warrant a 600k price. @ a cap of 7.5%. I noticed that per square foot price is 241. Area homes are closer to 110. Are the investment homes valued strictly by income? Or does neighborhood pricing come into play on price.