All Forum Posts by: Derik S.

A newbie here, wondering how much I would expect to-or in the case of finding a investor, would expect to realistically spend on a multi-family apartment complex? These things do not come cheap, especially in the cities where the market is piping hot. My strategy would be to buy and hold. According to Zillow, my home states capital of Denver, came up as #1 on the housing market. The first example is in Denver, second in Richmond, VA (another hot market)

4295 Hooker Street (seriously)

Asking Price: $595,000 

Cap Rate: 6%

Units: 4

3806 Chamberlayne Avenue 

Asking Price: $430,000

Cap Rate: 9.37%

Units: 8 

While I don't fully comprehend the idea of cap rate yet, I would be willing to guess the higher it is, the better it is. The property in Richmond is nicer than the one in Denver, yet is more expensive.

Thanks all for your responses, and I'm looking forward to seeing more. 

Part of the reason I'm doing this is money talks. I'm unemployed and I don't have any income, 24, and aiming to make my first million before 30. I don't think that is too much of a stretch for a goal.

 Thanks for the input Brian, 

Question, what would these deals look like that are less likely to wipe me out? Starting out, I am probably not going to be able to get an investor is shed anymore at the most than $100,000, right? So, I want to start out cheap-ER, without necessarily buying junk that would require more of an investment to make it attractive to prospective tenants, 

 I remember reading a article, it was either in Fortune or Forbes, but out of how the very wealthy have made their wealth, real estate was number one in Asia. How technology creates fortunes here, is what real estate does there.  Or at least, that's what that article was implying. But as a first-time investment, I'm sure my investment isn't going to be abroad just yet. 

So, if I am reading your response right, Japan would be considered the safest country since prices have been on a downward trend?

 I live in Fort Collins Patrick, message me sometime if you would like. 

And welcome to the forums OP.

 Hi Vinney, welcome to the forums. 

As someone who is looking to carve a niche fr himself in multi-family investments, what would you say is the best way is to go about finding multi-family properties?

Given the weather at the moment, I wish I were in California.

I am looking to carve my niche in multi-family properties, such as a apartment complex,  since trying to cover everything would be spreading myself to thin. Given my situation of that I would be using OPM to finance a deal ripe for the picking, would it be a good idea to look into a multi-family property? Tell me if I should change any of the following, in terms of thinking. I would try to find a apartment complex where the average rent is lower, so around the $500-$800 mark, so if certain aspects of the market in that area go belly up, perspective tenants can still manage to occupy my units.

Hi everyone, 

My name is Derik, I am new to BP and real estate investing in general.  So needless to say, I don't have any background experience in real estate (reluctantly admitting). Like some meetups I've joined, I am here to learn (e.g. negotiating, separating a good from a bad deal,  etc) and network with investors, and make solid connections. My main niche I'm looking at are multi-family properties (like apartments) to invest in. I listened to real estate investor, Grant Cardone, and he said unless you have money you can burn, skip the single-family properties, and look for a multi-family property that the average rent paid is low. 

By trade, I am a musician, and while I am looking for that to be my main source of income, I am looking to have multiple streams of income to build a pretty net worth. 

Looking forward to meeting you all, if you have any questions, feel free to ask. This puppy won't bite. Thanks.

Derik

 Welcome Kevin, coming from someone who is new to the forum himself, and real estate investing for that matter. I am curious though, how safe is it to invest in a property in China, or Asia in general?