All Forum Posts by: Brian Sabet

@Joel Owens - I totally agree with that broker

The people that buy some of the listings are ridiculous. The majority of things I have seen since I started have been value adds, or anticipating appreciation based on gentrification. The cap rates on most of the listings I have seen would send a numbers guy (like myself) running for the hills.

By that same token, I have seen more negotiation in larger multi family then in any other RE that I have experienced. The difference of $1M isn't always a huge deal. Its about what the seller wants. That huge cash offer sounds great, but deferring taxes sounds better (especially with a SUPER low or negative basis). In addition to that, the terms are also a huge deal. Closing time has been a make or break for several deals. Several lower offers come out on top (depending on the seller) as long as the terms fit both sides well.

Ever heard of a 180 day due diligence period and an additional 90 day closing? Most sellers would take a few percent hit then wait that long, if they are trying to get out or in order to lock up another deal.

If I hadn't mentioned before, I do market research/analysis for a multi-family broker firm.

I would definitely said that it must be your area. I am located in Maryland but handle deals all over the Baltimore, Washington D.C., and Northern Virginia markets... and it has been HOT. We are a small office (5-6 people) but have several deals going to closing while still getting a ton of listings. Make friends with a multifamily broker; we work exclusively with off market deals which sounds like something that you need right now!

@Ryan Steele I guess it was that I never considered that I would be able to invest in real estate, but over the past year my opinion has changed. Everyone here seems extremely helpful. I would not ever be able to call you fine folks "intimidating"!

Hi there BP!

So I have been frequenting these forums for over a year now, mainly just looking up information that would help me at work.... But today I have decided to join the ranks!

I am with IT/research/due diligence for a multifamily brokerage firm in Gaithersburg, MD, and I am hoping to get into real estate investing on my own. I have started with the beginner guides and podcasts, as well as a ton of information from the brokers at work.

I decided just to post and thank everyone that has posted AMAZING articles, podcasts, and just responded to the questions that I have had but other people have asked.

Ultimately, I would love to buy a single family/duplex home for myself and my fiancee, and move into small multifamily. I would be very interested in learning from someone who doesn't mind a youngin that is only knowledgeable from the IT end (for now), but has a LOT of free time and dedication.

Thanks all! Have a great day.