All Forum Posts by: Hassan Asif

I was wondering are you still using the 1% rule when doing quick and dirty new deal analysis? Is anyone out there still able to achieve the 1% rule and in which markets?

Recently I noticed I get to 0.7 or 0.8% at best (i.e. 100k purchase price, $700-800 rent per month).

Excited to learn from you all!

The 1% rule is still a useful benchmark for quickly evaluating deals, but in today's market, it's becoming harder to achieve, especially in competitive or appreciating areas. That said, you should adapt your strategy based on the market conditions.

In lower-cost markets or areas with less competition, you might still be able to hit 1%. However, with rising property prices and rents not keeping pace, it’s becoming more common to see 0.7% to 0.8%. In those situations, focus on value-add opportunities—like rehab, repositioning, or optimizing expenses—that can increase the return on your investment.

Keep in mind, the 1% rule is just a quick filter. Always dig deeper into the numbers (cash flow, CapEx, etc.) before making any decisions.

0 Votes

Atlanta, Georgia

Greetings,

I am actively looking for a designer based in Florida, or they could be located elsewhere as long as they understand how to design plans while keeping codes and regulations in mind. A one-stop-shop would be ideal—someone with a small team or who can handle typical residential jobs, including site plans, architectural, structural, and MEP plans. Licensing and insurance aren't required, as I am primarily seeking drafting assistance due to my current workload. I’m not sure if this is the right place to post, but I wanted to give it a shot.

Regards,
Hassan

0 Votes

Saint Petersburg, Florida

Quote from @Chris Antonelli:

Own a home in desirable country club community outside of Washington DC. Want to sell and stay for at least 4 years until kids in college. Reason: Want to access equity for new business but credit not good so selling and finding a rental not a good option. Proposal 1: Sell well below market value and stay either rent free or very low rent while continuing to be responsible for all repairs and upkeep. Proposal 2: Sell at market value and prepay 4 years of rent from the proceeds, standard lease terms. Thoughts?

This setup might not be viable for most investors, as offering rent-free or low rent significantly cuts into their returns, especially with you staying long-term. To make this work for an investor, consider selling at market value and paying fair market rent, or exploring a lease option where you continue living there but with a reasonable rental rate, and they get guaranteed income. This would make it more appealing while still allowing you to access your equity.

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Quote from @Rajagopalarao Paidi:

Is there anyway to minimize or avoid agent costs, I don't have much scope for profit if I pay agent costs, what options typically one has

Talk with them! They make their living from this work and deal with more hassle than you can imagine, based on what I know from some of my realtor friends. A migraine is a normal thing for them. If you can't afford to pay what they're worth, just talk to them, and they might put more effort into reducing the deal cost so you can save money in other ways.

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Fort Worth, Texas

Quote from @Randall Owens:

Good morning,

Can anyone recommend a reputable general contractor who can specialize in rehabbing a multi family in the chicago land area. This is a full gut rehab with 4 total units.

I can shortlist a few if you're interested. I have been recruiting professionals for a long time, so I know what to look for when hiring someone.

0 Votes

Chicago, Illinois

Quote from @James Hamling:

Quote from @Hassan Asif:

Quote from @James Hamling:

Quote from @Hassan Asif:

Quote from @Bobby Sharma:

I have had one of the worst experiences with rehabbing a home in Glendale Heights, IL (Suburb of Chicago) with the city inspectors. Some of the most picky, arrogant, expensive, nastiest, non-cooperative inspectors that I have ever met. Will never invest in that part of country again but I am curious to see what other cities to avoid. Wondering if we can get a list of the top 25 cities, municipalities to avoid for rehabbing.

Here you go!

Chicago IL, Los Angeles CA, New York City NY, San Francisco CA, Detroit MI, Boston MA, Newark NJ, Philadelphia PA, Oakland CA, Baltimore MD, Cleveland OH, Miami FL, San Diego CA, New Orleans LA, Washington D.C., Jersey City NJ, St. Louis MO, Atlanta GA, Minneapolis MN, Portland OR, Seattle WA, Oak Park IL, Pasadena CA, Syracuse NY, Ferguson MO.

Minneapolis MN, your joking right or are you just that clueless.

I have literally had to beg inspector to come into the property before signing off on a permit. I had inspector roll up for inspection, I came walking out, she got out, looked up and yelled "oh hell, James, why didn't you just say ti was you" and started signing the paperwork as passed right there sight unseen.

Minneapolis is one of the EASIEST if your doing things legit and willing to earn your rep as being legit.

If your "Mr Shady", yup, there gonna nail ya, and your shady rep will be known and tagged over n over n over again. That's a you problem not a them problem.

Oh hell, James, why didn't you just say it was you reading my comment? I'm talking about a typical investor looking to invest there, not someone who's spent years building a reputation. It's not about being a familiar face in the building department, where everyone knows you and will say, 'Why didn't you just say it was you?' Newcomers are treated like rookies, and they'll face unnecessary delays just because no one knows them.

I get what your saying, but really anyone can earn a good rep.

The system is very clear cut, making it simple to navigate. And if a person needs to fast track things, there is also open options for doing that.

Any large city / metro-plex is going to have lot's of regulations and red-tape, that's just the reality of running a city of such size. What matters is can it be viably done.

Now, don't get me wrong Minneapolis has other stupidity going on right now that in my book makes it dumb to play in right now. But far as the building dept. side of things and all that, I find it one of the simplest of cities of such size.

Appreciated!

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Quote from @Stephanie Jacobson:

Quote from @Hassan Asif:

Quote from @Stephanie Jacobson:

Quote from @Hassan Asif:

Quote from @Stephanie Jacobson:

Quote from @Hassan Asif:

Quote from @Bobby Sharma:

Here you go!

What did Syracuse do to end up on this list? 🤣

due to its permitting processes, regulations, and economic conditions :)

I’d love it if you fleshed this out. Have you had issues with code or zoning in Syracuse before? What was your experience?

I work with a design agency that handles drawings and permitting throughout the state. We deal with a ton of different counties simultaneously, and I evaluate based on how long it takes for a permit to go through and how lenient the city is during the permit process. We have done a few structural remodels in Syracuse and consistently faced illogical delays with the reviewers, along with new sets of comments each time. However, it's not the worst, which is why I placed it at the end of the list.

That makes sense, thanks so much for sharing your insight.

Mention Not! Stephanie

1 Vote

Quote from @Stephanie Jacobson:

Quote from @Hassan Asif:

Quote from @Stephanie Jacobson:

Quote from @Hassan Asif:

Quote from @Bobby Sharma:

Here you go!

What did Syracuse do to end up on this list? 🤣

due to its permitting processes, regulations, and economic conditions :)

I’d love it if you fleshed this out. Have you had issues with code or zoning in Syracuse before? What was your experience?

0 Votes

Quote from @James Hamling:

Quote from @Hassan Asif:

Quote from @Bobby Sharma:

Here you go!

Minneapolis MN, your joking right or are you just that clueless.

Minneapolis is one of the EASIEST if your doing things legit and willing to earn your rep as being legit.

If your "Mr Shady", yup, there gonna nail ya, and your shady rep will be known and tagged over n over n over again. That's a you problem not a them problem.

1 Vote

Quote from @Stephanie Jacobson:

Quote from @Hassan Asif:

Quote from @Bobby Sharma:

Here you go!

What did Syracuse do to end up on this list? 🤣

due to its permitting processes, regulations, and economic conditions :)

0 Votes

All Forum Posts by: Hassan Asif

Hassan Asif has started 2 posts and replied 15 times.

Post: Is the 1% rule dead?

Post: Looking for a designer/architect

Post: Want to sell and stay for 4+ years

Post: How to avoid or minimize Agent costs

Post: General Contractor rehab

Post: WORST cities for permits, code enforcements, city inspectors

Post: WORST cities for permits, code enforcements, city inspectors

Post: WORST cities for permits, code enforcements, city inspectors

Post: WORST cities for permits, code enforcements, city inspectors

Post: WORST cities for permits, code enforcements, city inspectors