All Forum Posts by: Hector Estrada

@Alejandro Ferrer - I've been investing in this market for sometime now and I'm a fan. It's a solid rental market. As @John Warren states, keep an eye on the taxes.

Inventory is light at moment which makes it more competitive. My suggestion is, know exactly what you're looking, have financing inline and be ready to pull the trigger when you see a property that meets your criteria.

Best of luck!

1 Vote

Chicago, Illinois

@Jordan Callaway

Thank you for the insight regarding the assessed tax value. I had not considered this at all.
I just re-listened to a Bigger Pockets show where Brandon Turner says exactly the same thing. It takes about the same amount of work to manage a 6 unit as it does a 9 unit building! Economies of scale!

Thanks again!
Hector

0 Votes

Thank you @Greg Dickerson. Very true, Chicago has classic turn of the century vintage brick/greystone buildings, California style buildings built in the 60's & 70's, and as well as newer properties. All are very different and require different maintenance.

I also think running your own "rent' numbers is key. I've recently found Rentometer, which has been really helpful.

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Thank you for the reply@Joe Willets

Your feedback regarding the Debt Service Ratio is key! I think its easy to focus on 'green pastures" and the potential Gross Income but at the end of the day debt service is a hard number.

While I'm not there yet, I'd love to pick your brain on Phoenix at some point. Thanks again!

Hector

0 Votes

Hello Everyone -
Long time investor, first time post! I've worked residential for the past 10 years (buy & hold and fix and flip) and ready to take the plunge into multi-family investing.

I'm looking at 5-7 unit buildings for my first opportunity. I'm currently looking at value-add, cap rates and COC return, but what other criteria should I consider? What do other savvy investors look for when looking to make a purchase?

Thanks in advance for your time.

Hector

1 Vote

All Forum Posts by: Hector Estrada

Hector Estrada has started 1 posts and replied 5 times.

Post: House hacking in Chicago

Post: What to look for in a Multi-family investment? Chicago

Post: What to look for in a Multi-family investment? Chicago

Post: What to look for in a Multi-family investment? Chicago

Post: What to look for in a Multi-family investment? Chicago