All Forum Posts by: Joseph Gary

@Drew Sygit you are exactly right! Bingo that might be it. I don’t have the patience nor the bandwidth for class c properties. However, I do think the experience was great for what it was worth and for how long it lasted. Experience is the best teacher. 

@Min Zhang Thank you for that. I agree. I live in Laurel, MD. I had a property in Detroit. It was a 2-in-. First experience out of state. I hated it lol. It was section8 and it was too much work. Luckily I was able to sell. I just realized that section8 and forcing the value in a home "FOR RIGHT NOW" is not for me. "ESPECIALLY OUT OF STATE". 

Thank you for that! That's a valid point.

Searching for a Multi-Family. Preferably a duplex. Do not mind if it's out of state. With that said I am looking to do minimal work to renovate the home such as painting and adding new appliances. Anything along those lines. Not interested in installing new flooring or new windows. I'm also not trying to go the section8 route either. I am interested in all states/cities. 

@Drew Sygit and @Joe Hammel

Thank you so much for that piece of information from the both of you guys. Extremely helpful and I have been reading and hearing a lot of great things in Detroit. I have a property under contract currently and I am waiting to close. 

Would like to hear people's experiences investing in Detroit. 

@Wes Wong great post. Do you mind connecting with me? I am also interested in expanding from the DMV area. I used to live in Chicago, IL and visited Indiana a few times. Only familiarized with partial areas of Gary, IN and Bloomington, IN near IU. However, if you do not mind @Tyler Lingle I am also interested in connecting with you. 

Man. Thanks for your insight. I like your process how you went about acquiring deals. I am definitely in need of a commercial broker. 

When putting in a offer on a commercial apartment building. How do we receive our offer price? My partner and I are doing an analysis on how much to offer on a commercial apartment building. Our analysis consist of the NOI on the target property and the compariable cap rates in the area. Are we correct in our analysis? Also, is there room to re-negotiate during due diligence, and on what basis?

UPDATE: WOW just like that...4 months ago is when I created this post. I now have a roommate for one of the two extra rooms I have in my home. Slowly I plan on pushing myself out of my home. Do not know where I will go next, but I will surely figure out a way. My roommate is arriving in two weeks and will be paying half of my mortgage...my mortgage is roughly $2k. Its for a 6month lease just to try it out. However, I think it will work out (being optimistic). I figured I would update you guys.