All Forum Posts by: Grayson Spittel

@Zachary Rymarcsuk we invest and are interested in MF. We have two duplexes at the moment. Looking to grow at least ten units in 2021 and snowball from there. The first deal is the most important to just get done, doesn't have to be a home run, and then go from there!

Congrats @Zachary Rymarcsuk - we have 4 units in Fayetteville, love the area and there's definitely potential there. Best of luck!

Hey @Leigh Jones I really think that what @Lee Ripma had to say about this helped clear up my thought process around "large" vs "small" multifamily properties. I honestly haven't read another book since this post, however, did purchase a fourplex and it's been going great!

@Ryan Casady what date? Checking the post and don’t see the details. Preciate it!

@Ryan Casady when are you meeting? Would love to join/be added to the list.

All the best

Brandon, so awesome to see!! Great job man. All about taking that first step. Know like you said, over a year of hard work going into this. 

@Mindy Jensen big time facts.

@Dung Nguyen what I think makes this not a good deal is the assumption that for ~$15K the rents could all be updated to $1200/unit. And if they cannot be, you have a property that simply won't cash flow. Without a lot of experience, in a property like this it's very difficult to forecast rent increases like that. It's not a 20 unit apartment where you know that every unit will rent for the same amount. Say your rents do increase and can be at $2800 a month, at the very most you'd be making based upon your figures $350-$400/month. But my hesitation even with that is using lower CapEx figures and maintenance will eventually come back to hurt you. You'll need to pay out of pocket because you haven't saved enough, or you'll need to revise the amount you save each month to 10% and then you'll be even less profitable. In short, I feel as though there isn't enough rent potential for the value of the property. Hope this at least helps a little.

@Marc Poulin

Hey Marc - I know a great PM in Wilmington, if you’re long distance and traveling, he’d be a tremendous help. Send me a message for sure!

Also, Jesse and Joe are great resources. You can trust anything they say about the area.

All the best -

Grayson

@Andrew Lorenzini hey Andrew - sure thing - I also live in Wake Forest as well. There’s some great opportunities here in the state.