All Forum Posts by: Darrion P.

Hey @Kam Ajani, Welcome!

Lots of sound advice regarding strategy here. That part about the prices in Atl rising faster than the rents is absolutely correct! I've had that same conversation with REI in Atl. @Miranda Micire is right - you may want to consider OOS if you're 'married' to buy and hold. Best regards...

@Niyi Adewole how has/will the new STR rules affect you?

Greetings Robb, Welcome! Here's the info you need.

Atlanta Short Term Rentals: https://www.atlantaga.gov/gove...

Best Regards, 

 Less than asking......Blashpemy! I'm joking. I think you're on the right path. @Alicia Sierra makes a good point. It may be someone with a thinner margin, a different business plan for execution, or someone with more experience, better lending terms, a reliable team, and systems in place to maximize efficiency.  And yes I think a lot of 'questionable' purchases are being made. Cash flow is great- but cash flow is the hedge that allows you to keep the asset. Rent increases are certain. As you know in The Lou rent increase will eliminate alot of tenants. ie: you can have a really nice 4 family near the CWE but can't find a renter for 1k$. But you'll have a unit in Soulard that needs updating and you'll have a waiting list for 1200$ a/month.  Moral of the story...Stay at it! You'll find one, then 2, then another...

Let's Connect When Time Permits. 

Sam, Stl city is full of 2 and 4 family flats. You certainly will not have a problem finding one. Positive cash flow on the other hand is dependent on where you buy. A duplex in 63130 is much different than a duplex in 63112. Let's connect and perhaps I can connect you with an investor-friendly realtor. 

Greetings BP Family.

I'm looking for a PM in the Dallas Tx Metro: Someone familiar with the Desoto, Red Oak, Lancaster Cedar Hill area. 30+ units. 

Thanks In Advance.

Thanks, Gentlemen. This was the 1st time a broker had ever told me that cap rates no longer exists. I agree with you both @Nick Belsky and @Spencer Gray that cap rates serve as a market sentiment. I've become accustomed to gathering that info from brokers for u/w. 

That's what the broker told me!

Really? I replied. Yesss! He responds. The whisper started at 6mil, offer settled @ 6.3. 

Well, congratulations. What's your level of certainty it will close.  

I'm pretty confident! The offer went hard day 1, he boast. But with that being said, send me your contact info I've got a few more on deck. 

Will do! We'll chat soon I concluded. 

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Question: I've noticed that the OM's I've received lately do not have a cap rate. Are you having a similar experience?

Greetings Matthew. Welcome to the BP community. Congrats on 1) reading/finishing the book 2)owning real estate and 3) deciding to scale! Multi-family has become very very popular! - and rightly so. Here's my advice: learn, learn, learn. Get very familiar with the lingo, how to underwrite deals, and financing. Then find a mentor; someone who is already doing multi family and add value to them; it may be bringing them a deal, connecting with a broker or potential investors. There are several real estate meetups here in Atl and the metro. That's a great place to start. 

Sounds like you're considering syndication - which is why you'll need a securities attorney to establish the fund. Also sounds like you'll want to get familiar with Regulation D 506C and 506C. In my experience fees range from 5k-15k. 

And Multifamily Millionaire VoL 2 offers Great Insight and Advice!