All Forum Posts by: Joe Moffett

Hey Jonna, 

Jut wanted to follow up and see if you had dates for the meet up group this month?

Hope you had a great Christmas and New Years!

Thanks,

Joe

Hey Guys,

I know we can use the BP calculator for evaluating deals, and if one was to calculate by hand or create there own personal way to evaluate a deal - what would include?

I'm looking at 2/4plexes, and eventually more doors. I get that with expenses we look at utilities paid by the owner, PITI, lawn/snow removal, any maintenance. Is there anything I'm missing? The roof, foundation and all that I know will happen with an inspection.

We want to make sure there's a good cap rate (some say it doesn't matter), IRR, COC, 1% rule and cashflow...am I missing anything else?

Eventually I’d like to get into 59+ doors and be able to analyze it more quickly. Keep in mind I’m doing this more than likely at a distance.

Thanks in advance!

@Alyssa K. I know this is solved and being a Veteran myself...you can call their chain of command to very their orders. Some have been known to make up orders (which is illegal) to get out of a lease. With that said, when they apply I’d always ask for their commands POC to verify. Also, I recommend officers or E-6 and above. Usually a little more mature and not into the party phase so much :)

Thank you everyone. Super helpful and zoning in on what I need. Appreciate you all!

@Remington Lyman - I appreciate it. Lets connect.

@Genna Golden - that was my thought process about Denver. Good distinction.

@Danny Randazzo - Totally agree. I just don't know any market well. Maybe my small local market but not to well. I figured if I picked a market or two and studied everything about it and connected with others I could own it. Am I off? I do have a buddy in Ohio I may partner with. 

One of my mentors suggested I don't partner with a buddy in Ohio and I can do it on my own. Im curious to everyones thoughts on partnership? Or should I create a post on it. Either way I will make it happen - I see partnership as a way to spread risk and grow together. With clear outcomes and roles. An agreement for all aspects would be addressed with an attorney.

@Nathan Gesner - I appreciate your input. Only reason I considered it was because I have boots on the ground there and one day want a winter home out there.

@Nick Baldo - yes its for my first one. 

@Emilio Ramirez - The market here is sky rocketing and others have a lower barrier for entry so I can do more with my funds. Only thing I have here is agents which I feel I can build those relationships anywhere.

@Andrew Davis- Yes, 2-4 units to start. I like Indy and Ohio. Ohio I have boots on the ground too. Its more of a challenge in the boise market to find off market deals. Cant do direct mail, bandit signs. Can connect with agents and brokers and divorce attorneys which I plan to do. I know its not ideal to start at a distance but maybe Im missing something?

@Michael Blank Really appreciate it. Very interesting article!!

@Pamela Villa  Thank you. Definitely will be looking more into this. 

Appreciate all the feedback.

I’m starting to invest and doing it at a distance in multifamily. I’m trying to narrow down where to start building a team and analyze deals.

I’m think of outside of Denver, outside Indianapolis and Ohio -outside of Columbus/cinnci.

If you were a starting out and doing it at a distance, where would you start and why?

I know I’ll get questions based on experience, how much money do I have etc- ready to answer as I have many options.

Love to find our who are the most elite property managers in the Boise area for multi family?

More importantly, why?

Hey Boise Investors, I wanted to see if there was a community out here that would like to all connect/meetup and help support each other on building our portfolio. If you are interested in connecting, Id love to put something together. Message me or comment if you're interested.