All Forum Posts by: Drew Lied

@Cameron Tope & @Nicole Heasley Thanks for the advice guys. I live in Philly and haven't been able to find a good deal so I've went outside the city and found a few. Problem is I'm not familiar with the areas. Any advice on if it's a good market or not?

@David McKee I'm about as frugal as they come. Always have been, always will be. But I've heard a lot about it and it's on my list. I'll be getting to it soon. Any advice for me in the meantime? My main concern is finding accurate/appropriate data that helps me make a informed decision on a market. Do you have any advice for me?

@Long Li thanks for the info!! Where did you purchase your fourplex? How has it done for you? I would love to hear more. Feel free to DM me

@Anurag Velchala - from what research I've done so far I haven't seen any great deals in Philly but if some were to come along I would definitely be interested as I know the area. However, the surrounding area has my attention

Hey everyone,

I just wanted to introduce myself. My name is Drew Lied and I recently joined Bigger Pockets. I'm excited to start investing in real estate. Right now, I'm prospecting areas around the US (currently living in Philly but from Milwaukee) that strong options. Any advice would be greatly appreciated. My current goal is to buy a cash flowing duplex, triplex or fourplex!

Hey Guys,

I've found a few properties which meet my cash flow requirements (over $100 unit) with 8% vacancy/repairs/capex and 10% property management costs with over 12% cash on cash return. Starting out, I'm still skeptical to move forward. What are the next things you all do to make sure you'll be able to find good tenants and that its a good area?

Thanks!

@Tim Herman - Thanks for the info! Why do you say the tenant information doesn't matter? Don't you want a clear understanding if they'll be able to pay rent?

Hey everyone,

Just a few questions:

1. What do you suggest asking a seller (off market, tenant occupied) before making an offer on their property?

2. Is it fair to ask for their background check on the tenants/their names?

3. Is there anything that you shouldn't ask?

Thanks!

The reason I ask is this is my first potential investment and I know it's easier to get financing for a 4 unit. In addition, the fifth unit is very small and converting one unit into a bigger space would be more beneficial in the area. Thanks for the help guys!

Is it possible to buy a 5 unit small apartment complex and convert it to a quadplex and still get the benefits of owning a quadplex?