All Forum Posts by: Andrew Pugh

The situation you describe is not unique to this area.  I've invested in NV, MD, and DC. At any given time in any given location some strategies will work and others won't.  On that point, it looks like the FL peeps above have given you some other locations to explore using that strategy.

Who buys residential deals that don't cashflow?  Typically, it's owner occupants and investors betting on appreciation (i.e. speculators). 

There's a reason Blackstone started snapping up tons of rentals in 2012 after the crash and now... they're cashing out.  

Wish I was still in Vegas... looks like there was a similar connection request about a year ago.

Good luck!

@Imran Ahmed. When you say, "gut feeling", what exactly does that mean?  How many offers have you made?  

Most investors don't pay asking/list price for properties... do the math and make an offer that works for YOU.  Actually, make an offer that makes you feel a little embarrassed, but that you'd be really excited about if it's accepted.  Most will say "no", but you'll get used to it.  Rinse and repeat until somebody accepts your offer.

Hey BPers, I spent the last couple of hours browsing the websites of a variety of apartment buyers around the country and a couple of things stand out:

1. Many only want garden style / low-rise apartments

2. Many only want properties built in the early 1980s or newer

What would be the main motivation for those criteria?  Thanks!

Thanks Tamar, that's very helpful!

Thank you all for sharing your experience and expertise, much appreciated!

Why?  So I don't have to tell my kid we can't afford to send her to that private high school she wants to attend.  So I don't have to tell her to have smaller dreams to fit my budget.  So she doesn't have the limits I grew up with.  That is why.

Quick question... I have a HELOC for around $200k on my primary residence and have the tools/team in place to syndicate. However, I'm wondering if I can pull the HELOC funds to use as a down payment on an apartment deal? How would a lender look at this?

Thanks for your help!