All Forum Posts by: Gary Freidman

I am a cash buyer looking to build relationships with wholesalers in KC Kansas City, North NJ New Jersey and CT. What is the best way to build these business connections and find wholesalers?

I am a new investor from NYC and I am looking to network and work with contractors, agents,  inspectors appraisers and local financing sources on fix-flip or rehab and rental (buy and hold). What would be the best way to find people in those areas? Does anyone have any good recommendations? 

@Dean Letfus

 Thank you

@Chai Sag

Yes both inside and outside NY. However, I have been hearing the same thing all over not just in markets that are always "overvalued" like NY

@Dale Hensley

 It seems like you are managing yourself while I would assume on a pure numbers basis most properties that would be in any hard data analysis are managed by property managers and/or REITs. Even someone who owned or managed 300 - 400 properties would probably be a good sample size. 

A lot of people I talk to tell me how the market is probably overvalued right now but I seem to be able to still find deals. I just wanted to ask everyone what type of return they target in order to get into a deal. I target 15% IRRs and 10% cash on cash.

Does anyone have any hard data on what annual capital expenses should be in the Midwest such as Indianapolis, Kansas City, Ohio, Alabama, Oklahoma, Nashville, Chicago, Memphis and the like? Before anyone points me to the many posts about the topic I have read them, I just do not see a lot of hard data backing it up nor a lot of people with a lot of properties under management chiming in. 

I also did not see anything about how much the build year affects these costs. I assume a 1920s house will cost a lot more than a 1990s house but I have not seen any data on how to quantify this difference. I assume it would be in certain things not mentioned in the above such as plumbing, electrical systems, etc. that are outdated but I can’t say because I am new.

Does anyone know a good investor friendly appraiser in Kansas City? I have a couple of questions on a property my partner and I are looking at buying.

@Justin H. Thank you for the input. Do you know anyone who has such a spreadsheet or a reference guide for useful lives?

I used my number because I had seen 10% - 12% on average when I looked at posts on here but since it is newer and 100% fixed up I thought a slightly lower number than average was warranted.

I am on here for advice though so if you think it is too low I should probably use a higher number. 

@Justin H. what would be a better number for a newer property built in the 1990s?