All Forum Posts by: Gabriel Miller

I am interested in investing with ABC Capital in Baltimore.  Does anyone have any recommendations yay or nay?  I watched the Maverick webinar and it shows the pro forma for the first year which looks fine and guaranteed by ABC.  However, I really want to get an appreciation of what I can expect for the next 5 years.  Does anyone have any experience past the first year?   If so, what annual net cash flow are you seeing after ALL expenses?   

@Todd Dexheimer, Thanks!  I probably should have mentioned in my originally post that I was inspired to read Emerging Real Estate Markets because you mentioned it in your podcast.  When we spoke on the phone you mentioned Costar and I did reach out to an agent and and get one for Cincinnati.  I agree that it is an impressive report.  Do any of the sources you mentioned above provide a report that compares markets across the US?  Or are they all local reports and it is up to me to do the comparative detective work?  Thanks!

Are there Agents that specialize looking at the entire US market to find apartment deals for buyers?  It seems like most agents focus on a smaller market like one city.  Problem is that I cant figure out what market I should be looking in and it is overwhelming to look everywhere.  I would love some advice from a professional on where to focus as well as help with finding deals.  I need someone that has their pulse on many markets and has connections in many.  Does anybody do this?  Below is my buying criteria (feedback welcome)

I have $200K cash to invest and I am looking for apartment buildings anywhere in the US that can meet the following criteria:

-$2K per month minimum cash flow

-Location: C areas that are in the path of progress that are likely to transition to B areas. Or properties that are already in B or A areas.

-Building type: C properties or better

-Return: 10% cap rate or better on actuals. Less than 10% cap rate ok if there is a strong value add play and/or property is clearly in an emerging market and in the path of progress.

A number of books talk about using owner financing when buying apartment buildings.   Is this something that actually happens very frequently?  It seems like most owners would want the cash.  I can imagine some being ok with partial owner financing.  I was thinking it would be great to get some help with that 20% down payment needed with the commercial lenders via partial owner financing.  However, the commercial lenders I have spoken with have not been supportive of partial owner financing.  Has anyone found commercial lenders that have been supportive of using owner financing for part of that 20% down payment?  

I am looking to invest up to $200K cash in apartment buildings anywhere in the US.  I am struggling to down select markets to build relationships in so I can get deal flow.

In 2008 David Lindahl published "Emerging Real Estate Markets" and in that book he says "one of the best places to find forecasted job growth is from the US Census.  Go online to the Bureau of Labor Statistics, and search for forecasted job growth".   I did this and could not find any forecast data by location as David suggests.  I contacted the US Census and they told me they do not have this data.  Does anyone know why David would have said this works when it clearly does not?  I find it hard to believe that the data was offered in 2008 and is not provided now.  

The US Census was kind enough to point me to State population growth projections here:  https://www.census.gov/programs-surveys/popproj/gu...  I am interested in Ohio so if I select that link I find projections by county.  I was hoping for something by city but this data is not bad I guess.  I am interested in Cincinnati and this data suggests a slight population decline in Hamilton county between now and 2020 where Cincinnati is located.  

If anyone has any recommendations on how to find good data to support which markets I should buy apartment buildings in I am all ears.  Is there anyone in industry conducts analysis and creates reports?  I would be willing to pay if they are good.   

Thanks,  Gabe

I need a property inspector for a 24 unit in St. Louis.  Any recommendations?  Thanks, Gabe

I am purchasing a 24 unit apartment building in the Bevo area of St. Louis.  I am out of state so I will need a good property manager.  Any recommendations?   Thanks, Gabe 

I have a 12 unit apartment building under contract and the seller has a couple of units that they are saying are occupied and paying rent but the seller does not have leases.  How should I handle this?  I need to verify this rent is coming in and will continue to come in once I buy it.   Thanks,  Gabe

I have a 12 unit building in Cincinnati under contract.  Does anyone know of any insurance providers they might recommend?  My property manager's contract states that I am to pay for his legal costs if a tenant sues him.  Is this common?  I would want to ensure I was covered by my insurance for this risk or I think I will need to ask my property manager to remove this item from the contract.  What are people seeing out there regarding this topic?