All Forum Posts by: John Torres

What are your top 5 areas in B-More for Fix + Flips? I like Pigtown and Westport because of the gap between distressed and rehabbed home prices.

Nice work Chris! Have you tried your hand at any others this year?

Amber, A good rule of thumb, which BP talks of often, is the 1/2% rule. If the property will rent for at least 1% (preferably 2%+, but not always possible in some markets) of the sale value, then it's worth doing a more thorough analysis. 

In the case of the properties you mentioned, all of them rent for far less than 1% of the sale price, so my opinion is to keep searching. 

@Seth Wilson thanks for your birds eye approach. Good thought to carefully consider.

@Steve Vaughan thanks for join' the convo! Not sure about the # of units, but based on the info the builder is putting out there it is a completely different demographic. Knowing the "small town" mentality in the city, I do wonder if the builders strategy is going to completely flop. Its just educated speculating on my part though.

@Richard Haiber, great points. The (potentially) new apt building would capture a different class tenant than the triplexes in this town. I presume that would be in my favor in this situation.

@Brent Paul thanks for the reply! It's not 100%. They've been talking about it for about 3 years now, but I recently saw them promoting it on Zillow, which is a first. The rental market is real strong becausr half of the population in the town are oil refinery workers that are quite transient. I'm learning that having multiple options is imperative in this business if you're going to make sounds decisions.

I'm new to the rei game, and have been looking to invest in 3-4 unit homes (2 & 3 bdrs) in a small town (5,000 ppl). I just found out that a large(r) apt building is going to be built in the middle of the town (all 2bed/2bath's) Within the next 2 years. If I can snag a triplex/quap at a 1+% rule, would it still be a good idea considering the upcoming changes??

Thanks Elizabeth! Penned down.