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All Forum Posts by: Jace Perry

Jace Perry has started 29 posts and replied 101 times.

Post: Multi Family Mentor/Coaches

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

What type of real estate are you wanting to learn about? How many hours per week do you need of mentorship?

Post: 32 unit apartment building development

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

How many other apartment complexes are within a 1-3-5 mile radius of your lot? Have you done research on if your market needs another complex?

Post: 32 unit apartment building development

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

Where in LA is it located? Can you post more information such as demographics etc?

Post: How does DealMachine.com get property owners information?

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

Does anyone know where and how DealMachine.com pulls their information from? It is the most reasonable tool on the market for finding out who owns a particular property or parcel of land and I would like to know they were able to automate the process? 

Post: How to obtain a list of multi family properties

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55
Originally posted by @Greg Dickerson:

The best way to find off market commercial and multifamily properties is to compile lists through a paid service like List source, Reonomy and CoStar or you can use free resources like Loopnet, CREXI, CBRE, Craigslist, tax database, brokers, property managers, title companies, multi family inspectors, appraisers, landscapers and other companies that service commercial and multifamily properties and driving for dollars.

The real key is in how you approach the owners and then the follow up.

You can send letters but cold calling is by far the most effective method but you really need to know what you’re doing, how to open the conversation, what questions to ask and more importantly when to listen and not talk. Most importantly you need to convey confidence and assurance you are a player and not just wasting their time. Remember you are building relationships with the owners.

Follow up is crucial and where 90% of investors and sales people fall short. You have to consistently follow up in a meaningful way and you will get deals.

Can you elaborate more on the types of questions or conversations to have during a cold call? Is there a script that you use? Thank you! 

Post: Looking for CoStar Research Alternatives?

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

Hello, I am looking for a research tool that is affordable and will provide important market research data for the areas I am looking at investing in. An ideal search tool would include market growth and the ability to pull comps. Thank you! 

Post: Large Apartment Purchase at 7.5 cap rate!

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

Investment Info:

Large multi-family (5+ units) buy & hold investment in Coeur D'Alene.

Purchase price: $780,000
Cash invested: $50,000

Purchased at a 7.5 cap rate and will become a 10.5 cap after normalization.

What made you interested in investing in this type of deal?

Major cashflow mailbox money and major potential returns after normalization.

How did you find this deal and how did you negotiate it?

Broker/friend.

How did you finance this deal?

Non-recourse loan.

How did you add value to the deal?

Yes

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes.

Post: Top 10 outdoor amenities for multi-family

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

Does anyone have a risk factor analysis on firepits/bbq's being a major risk of possibly burning down a multi-family building?

Post: Beat Multi Family Investment Tools

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

It is a bummer I cannot revise my post title... Anyone know how to delete or edit it?

Post: Beat Multi Family Investment Tools

Jace PerryPosted
  • Investor
  • Greenville SC
  • Posts 111
  • Votes 55

Hello, I am a newer MF investor interested in what others are using for finding new deals and managing current ones. Thank you advance for your help!