All Forum Posts by: Josiah Mann

Does anyone know of some good MultiFamily brokers in KC?

Just an update on this... 

I talked to the Agent today and she told me who the owner was. He's a well known slumlord in our area who's 200k behind on taxes. Good thing I knew the name when she mentioned it:)

Thanks @Tim W. I wondered about the down payment. Is it possible to get a down payment through a second mortgage from a traditional bank? Seems like they wouldn't want to be in position 2...

I've come across a few 100+ unit portfolios of single family and small multi-family properties in my local market that I'm interested in purchasing. The main reason for my interest in these specifically is that they offer owner financing and I don't have the equity or cash to get in another way at the moment.

My main question is, assuming I put very good property management in place, get a good price based on actual rent rolls and P&Ls, and due my diligence thoroughly (including inspecting every unit), is there any downside that I might be overlooking?

 Yes, it does. Thanks for boiling it down a bit further.

"Deals and Dollars" sounds like what Lance Edwards focuses on in his book "How To Make Big Money in Small Apartments". You're clearly going for bigger deals, like I plan to myself, but deals and dollars seems to be a good way to reduce things.

Thanks again.

 That's a heck of a deal Brian! 

You mention the "core fundamentals" in that market are good.  Do you have a specific process or model you use follow for evaluating a given market?

Hi Eric, 

I'm just getting started in rei but the topic of emerging markets has been my focus as of late as it's clearly a vital factor in buying right. 

The only real book I've found on the topic is a book called Emerging Real Estate Markets by Dave Lindahl. He has a list of economic indicators he looks at, which seem to revolve around new jobs coming to the area and watching building permits (among other things).

Thanks for the thread, I'm very interested to hear about your and other investors thoughts on the subject. 

I just finished a Dave Lindahl book on Emerging Real Estate Markets where he talks about many of these things. The book takes a local perspective and shows how housing prices cycle up and down in a given city based on economic changes. 

Though I'm not an expert myself on markets, my understanding is that Dave and his students continued to see success even in the national downturn in 2008-2012 through applying that understanding.

Has anyone else read Emerging Real Estate Markets by Dave Lindahl?

 Are you referring to a National peak or just looking at the specific markets?

Hi Philip,

I didn't get a chance to watch the webinar, but along with you, I'm definitely taking going to be buying apartment complexes in the US very shortly and looking to build relationships with investors. I'm currently studying emerging market trends so I have a good idea what market to hit :) 

Have you read anything of Dave Lindahl's?