All Forum Posts by: Jacob Pereira

David, depending on the full scope of work, I may have someone. PM me with any additional details you can give.

@Aaron Gordy, you aren't kidding! I tried using contractor underground (I'm pretty sure I've seen you on there before too), but everyone who responds is absolutely useless. If you ever run out of work for your guys, let me know!

Historically I've always steered out of town investors away from the area due to the low rents and low appreciation, but recently I've come around to the idea, although I believe it's still challenging. As others have implied, do your due diligence, but be aware that you may be taking on a low-wage job rather than high passive income.

I know this is an impossible ask, but I'm really in dire need of some self-reliant tradesmen. I currently have two guys who I can use for all-around work, one who works by the hour, and the other who works by the job, but as we all know, those guys are so busy that I can't get them on the schedule. Does anyone have leads on someone who does decent work and doesn't require too much supervision who isn't booked up for the next three months? I pay very well, but nowadays everyone who is competent is so specialized that I have to get 30 people into a house to get it ready to rent or sell.

@Shafi Noss, care to add any detail to your comment? I'm sure just about everyone here would be very interested in what happens with that.

I did it well under 5, but I also ended up with slightly less than 10k a month when I retired. I did end up discovering that retirement wasn't for me, but financial independence changes things massively. Good luck on your goals!

@Kole Moore 

What you're talking about is exactly what I did here in Austin with my VA loan 7 years ago. It was a different time then and pretty much a no-brainer. As @Joe Scaparra mentioned, it's not as easy as it was back then, so be aware.

My office is actually in Hyde Park and we do specifically focus on smaller multifamilies (2-about 20 units), but due to how rare these are, we're generally not actually taking on new buyer clients. Nothing against you, there are just ethical dilemmas when you have multiple clients asking about the same properties. That said, I do know a few other commercial brokers in town that I believe are still taking on new buyers; if you'd like an introduction I'd be happy to help you out.

For my personal interests, if you find a good property manager, I'd love to get their name. It's been very difficult for my clients to find decent management who accept smaller multies, key word being "decent", and while I manage my own 16 units, I don't have the time to manage other people's.

Congratulations on the great timing! Conventional wisdom right now says that flips are a tough proposition (although there's always the possibility of making something work if you find the perfect deal, so don't totally discount the idea). Between acquisition costs, labor costs, and material costs, you're likely taking a moderate risk for a low-wage second job.

Personally, I'm pivoting to land. I don't foresee real estate prices going down anytime soon, but I do think labor and materials will normalize in a few years. At that point it'll be time to build.

With how quick the market is moving now, it's hard to keep a handle on what kinds of cap rates people are seeing around here. Anyone who has done a recent smaller apartment deal (think under 60 units), what are you seeing?