All Forum Posts by: Freddie Williams

I just bought his book "The Art of the Slow Flip". I'll let you know when I finish it. I'm looking into his Freedom Accelerator program also. Basically, it's his 3-day, in-person teaching put into an online format with mentorship from Scott and group connections, so we'll see...

@Damian Young great let us know

1 Vote

@Allie K. Welcome. Anyway I can help or advice let me know.

0 Votes

Phoenix, Arizona

@Jameson Firmin did anyone help you out

0 Votes

San Antonio, Texas

@Niraj S. What did you find out

0 Votes

@Henry Clark very good information. Im looking to get into self storage, feel more confident in the business model to scale for out of state opportunities. I feel less risk comparing to residential commercial real estate.

1 Vote

these are some awesome responses. @Lucia Rushton You are correct I am now talking to several lenders regarding your response. I am looking for a purchase price of 1M or less. @Mason Weiss Thanks for your input. I would also agree with the units 5-12 is usually a single owner. Hey @Bruce Lynn, to answer your question the market here in Hampton Roads (Va beach and surrounding area) is very compressed. Also the cap rates are really low, 5 - 7 percent. My motvation is appreciation, and cash flow. Trying to scale basically.

Any additional advice is always appreciated. Thanks everyone.

2 Votes

Been investing in residential for years. Want to move to commercial properties, will have to invest out of state. So the question is, would you invest in 8 units to start? Or would you go with 12 to 15 for scale and property management, etc. I would assume higher units, cause then you have marketing, expense reduction and management in place. Thoughts? thanks.

0 Votes

Hey Robert, Im in Hampton Roads, Virginia Beach area. Virginia market is tricky, when you say multifamily.... depends on area, number of units. VA cap rates and returns are very restricted. Guess depends on your goals. Im here to help, in anyway.

0 Votes

Quote from @Justin Moy:

Job growth is a big one and wage growth as well. Job diversity. Population size yes but people do crush it in small markets so I wouldn't say its absolutely necessary, you'd just have to understand your buyer pool when you go to sell it will be smaller than in a big town.

I'd be more comfortable investing in an area with a smaller population if it was nearby a large city where people commute in and out of. The thing with smaller areas is also the availability of managers and contractors so those are considerations too.

Not sure about the similar units concept. I think anywhere you go you will see units that are similar. Comps are a good thing to have.

Hey Justin, I appreciate your input. Yea I heard that look outside major areas, smaller population but they commute. Seems like those have higher returns. I would definitely only consider bigger complexes (units) so to help with management of the complex.

Job growth is a good one.

0 Votes

Quote from @Bob Stevens:

Quote from @Freddie Williams:

Just looking for insight regarding purchasing my first multi family. My current process is I first look at landlord friendly states, then I filter down with unit amount, and cap rate. But what else would you filter from that list. I know some say economics of the area, others say population ( once heard not to invest in a area less thank 200k pop). Some say do not purchase a property, if there is a similar unit next door, like if its 30 unit complex divided into 2 buildings. Make sure you can get both. What are your thoughts? Am I on target, what else would you consider?

Its all about the numbers. Me I will not do anything for less the 18% net cap, based on cash purchases. My clients get typically 10% or better. "Do not buy a building if there is a similar one next door," Not sure who told you that but they are clueless. One of the most ignorant things I have ever heard in RE.

All the best

Thanks Bob, Yes I believe they were agreeing with you not to buy a building if there is a similar one next door. 18% net cap, wow. ok thanks for your input. I really appreciate you taking the time.

0 Votes

All Forum Posts by: Freddie Williams

Freddie Williams has started 22 posts and replied 95 times.

Post: Has anyone heard of Scott Jelinek and his Slow Flip strategy?

Post: Newbie, big drive, and a self-storage enthusiast

Post: Self Storage Units

Post: Self storage analysis

Post: Self Storage- Scaling

Post: Starting out from residential to CRE, where would u start in units?

Post: Starting out from residential to CRE, where would u start in units?

Post: Out of state multi family search!!

Post: How to filter deals.

Post: How to filter deals.