All Forum Posts by: Blake C.

With the new fund offering, I wanted to see if anyone had more recent feedback on their experience with Park Avenue, Park Street or Jefferson? 

I've noticed that wholesaling as slowed down a bunch as prices have crept up. I agree that it feels like people are overpaying, but its probably a combo of more investors and more retail purchasers in the past couple years. Now buyers have slowed down a little, but we based prices off the past (comps) so prices still seem to be holding up a little. 

More retail buyers = less renters + more people land lording = Higher Investment costs 

Less Renters (More owners) + More landlords = Stagnent or Lower Rent. I haven't seen rents really increase in 6-7 years. 

Higher prices + Stagnant Rent = Lower Returns.

I'm not sure the best way to navigate this trend other than ride it out through long-term holds. 

Scott knows what he is talking about.  

Refi the primary for 80% cashout and a low rate locked to get ur hands on 34k (104k - 70k balance). Get a commercial loan on the next property (will likely do at 80% of purchase) and use the 35k for rehab and downpayment. Then package both together as collateral with a 85% line of credit to have some flexibility to buy the next one. Keep buying and creating equity and you'll get a roll going. 

I just factor it into my numbers. If you find good deals, it still works. So no its not a HUGE problem but is a real expense. 

@Scott R. is right. I have looked at Mls everyday for 4 years. Unless you are talking about the occasional HUD house, there really isn't killer deals to be hard there. Or at least, I'm not great at finding them. May be if you are going to shoot out low ball offers on stagnant listings, that would probably work if you can Find aomeone that's willing to do that. I've found that chasing my own leads through word of mouth and buying from wholesalers and burned out investors is a lot easier and more effective here. If you have some experience and know the market you, might look for a less experienced realtor that's willing to show more doors and write more Offers.

@Gerry Jubang Welcome to BP. If you have any solid buy and hold deals in class B neighborhoods (Avondale, Olsen, Southlawn, Oakdale, Georgia Shores, and the likes) that aren't on MLS, let me know. I already see all the MLS stuff, but am always looking for off or pre-market deals.

@Jeff Smith Add me to your buyers list

Welcome to BP. There is a wealth of knowledge here. I invest in the Amarillo area. It has been a solid and consistent place to invest in rental real estate. Most of this area doesn't appreciate tons, but is very steady. Much more of the tortoise than the hare. 

@Joel Florek Congrats. It looks like you have a great income property in from of you for the future and a very inexpensive place to live for you in the short-term. House hacking a live in flip allowed me to get my start right out of college as well. This success has paid large dividends for me to continue investing in income property over the past 8 years. Keep it up.

Oh and my two cents would be to avoid the carpet you mentioned installing. I know you are in MI where it is colder than TX, but looks for a harder surface in rentals has been king for me to cut down on long term expenses. Lately I have been either refinishing the original hardwoods or installing the $2/ft Allure from HD. It tends to last well, can easily replace just one piece if damaged, and is super simple to install. It floats over flooring and sticks together. This limits the amount of surface prep work. Being vinyl you don't have to worry about water damage from a pipe or a careless tenant. I know carper is soft, warm and easy, but it can be damaged super easy. To each there own.  

Congrats and good luck!