All Forum Posts by: Joey Newton

Good evening @Neal Bawa,

So basically what you are saying is buy them. Dont think twice. Also, you are pretty new to multi families yourself. just kidding, just kidding. Hopefully you can tell that I am being super sarcastic.

That is something that I am concerned about. I have only purchased Single families up until now. I have been told that the "Churn" is much higher in multi families in almost every market! Not something I am looking forward to. Good call on those websites, and poverty percentages. I did not even consider how those 2 things affect each other. 

Have a great night

Good evening @David H.,

That is correct. The owner wants to sell each quad plex at $195,000. That breaks down to aprox $49,000 per door. He is selling 2 of them at this price. I would say the area is "C ish". 

Good evening @Nicholas B., 

Thanks for the tips about the rehab. I really should take an interior design class or something, because I have no style when it comes to rehabs. lol. I was told the rents in that area should go for around $740.

Have a great night!

@Cody L. your confidence is empowering!

I really want to make the move from single families in to multi's. I just wanted to have someone double check my numbers. I need a fraction of your courage. 

Thanks for the boost!

Good morning @Aditya Maini,

Per usual in my life, I totally got this deal by luck! Word of mouth. I have never sent out direct mailing. 

Have a great day!

Good morning @Mike G.,

Everything you say makes total sense. If the shoe was on the other foot, I would be the last guy to give you advice on making purchases in Las Vegas. All in know about Las Vegas is I am always hung over when the sun comes up. lol. My question/ issue was going over the numbers. If the numbers sounded right. St. Louis has a spectrum of real estate that range from exceptionally wealthy to war zones. my end is to know the differences. I just lack the time in the saddle to analyze this deal. 

Just like in Las Vegas I will take all of the luck that you can give me. He is selling because he is older,. and wants to retire down in Florida. He is not motivated to sell at all, believe it or not. He will not drop his price .01. There is some deferred maintenance, but nothing that I am scared of. I have not checked the crime rates, that is a great idea. Lastly, he will not release the rent roll or leases until he accepts a contract. 

This all helps, I hope you have a great day.