All Forum Posts by: Dennis Maynard

@Cody L.  You do you Cody.  The industry doesn't use that metric on 4 or less.  But what do I know.  I'm only a broker and CCIM.

Generally speaking you don't use cap rates on 1-4 units. This is due to lending standards and criteria. Stick with GRM and Cash on Cash, and IRR.

Actually, there are several bases to use for valuation on this one, some that you might not be considering.  @Brian Garrett is correct, you don't use Cap Rate on anything 4 units and under.  The reason is financing.  Happy to chat if you need me.  

For Los Angeles, that is really tough.  You will likely be outside the westside / downtown and will only get you a studio or 1 bedroom.  You can go further out, but your commute will increase.  This isn't a bad thing, just something that will need to be accounted for.  LMK if you have questions or need help.

Nope, there are companies or services that do it for you.  You only pick up the phone and order.  You don't do the research.  These companies have been in business for a while and insure the information.  Check out myNHD.com  or PropertyID.com

hit me up if you like.

Ah, so it really comes down to what your goals are.  Are you looking for cash flow or appreciation?  4-8 units is easy to hit in cities that will not likely have appreciation vs cities that may be growing and have some appreciation associated with it.  Start macro with your goals and abilities ($$$) then back into the problem.  You can message me if you want to discuss further.

@Chris Murdien I can't speak to the State of TX, but in California a license is absolutely required.   There is a misconception about wholesaling, you need to have it under contract to purchase and assign your rights, or you are taking a small bird dog fee.  You cannot negotiate, nor act in the capacity of an agent, at least in the State of CA.  I'm sure other states have similar laws as this is very common.   Now, why get your license.  Because you will learn everything you are trying to do, make massive amounts of connections through the creation of your network and others, and get a solid education.

you don't buy proof of funds, you have them or you don't.  Not sure what you mean.

You are also not presenting all the information on your listing.   Don't summarize, be specific.  Give details.  Disclose everything you can, always. Last, if you are going to play in this space, just go get your license.  It will be worth it to you.