All Forum Posts by: Derek Gibbs

You could try 

https://www.airdna.co/

Or just look up the area in AirBNB and check how many other rentals are in the area to give you a sense of demand and pricing. If there are a bunch and they are busy maybe worth investigating further.

@Greg Dickerson I like that co working space idea. I have some artist friends that are always talking about stuff like that. I'll definitely explore that option.

@Scott Mac I had thought of doing that before the Ebay guy moved in. I wanted a gym for my own use and thought it would be great to open one. However, most people I know that have a hobby they turned into a job didn't go well.

I have a property that used to be a tool and die shop and is now being leased as two halves of a 30,000 sq. ft. building.

The first half is being leased by an Ebay retail arbitrage business that was in both sides but is struggling and reduced to just half at lease renewal. 

I'm looking for ideas for the second half, ~15,000 sq. ft. 

The building is heated and has a loading dock as well as large roll up doors that almost any vehicle can fit in.

Any ideas are appreciated.

@Keith Le Blanc did you end up buying?

Find any more info? I too am curious about the program.

@Greg Allen You really need to decide if this will be a passive or active investment. Like Alina said, if you plan to become a real estate professional, I would find someone to partner with to get experience and maybe buy something small to get your feet wet. 5-20 units can give you a good understanding of the business within your budget. 

If however you are looking for something that is completely passive, start doing some research about who is a player with a successful track record that you can feel comfortable working with. There are plenty of syndicators doing deals that you can get into. Try going to a seminar or joining a local meet up. Even a passive deal will give you an education if you ask to be involved.

Anything 4 units or less is single family for all intents and purposes. Because of the comp based value approach used, the only way to get your money out is to buy at a discount and rehab to bring the value up to market. You have to get it cheap and empty to do it quickly. If you use a hard money lender, you don't have a lot of options as carrying costs will get you. If you can secure better financing and do it as the units turn, it works, just takes longer.

@Greg Scott

Apparently, I missed the boat.

Thought it was this week.

Please add me to the list so I don't miss it again.

derekgibb911 at gmail.com

Thanks!

@Ismael Reyes Congrats! Sounds like there are still a few good deals out there if you look in the right places.

Good luck with the project.

@Charles Ulrich Welcome to BP!

If you get up to Brighton, there is a pretty good meet up in town:

https://www.meetup.com/Michigan-Multifamily-and-Mo...

Hope to see you around.