All Forum Posts by: Kyle Mitchell

@Arthur P. We like the Arizona markets right now but I do expect to see a slow down in rent growth as wages are just not keeping up with the rents.  Still great markets (Phoenix & Tucson) but definitely time to be patient and not overpay for product (especially older product).

Hi @Account Closed!  Congrats on taking the first step at such an early age and keep it going!  You are in the right place to learn and connect with others.  If I can be of help in any way please let me know and best of luck on your journey!

@Steven Steele Absolutley.  Phoenix is the 5th largest city in the US which means it is very dense.  Even in the submarkets I mentioned there are areas I would not invest.  Real estate is hyper-local and you have to drill down all the way down to the neighborhood you invest in, not just the market or even submarket.  

@Adam Balsinger Sorry, when I mention Phoenix and Tucson I mean the greater MSA's for both.  So yes we look a bit in Scottsdale although it is overpriced but like other submarkets like Mesa and Glendale.

@Chris Salerno We are hyper-focused on the Arizona markets, Phoenix and Tucson.

@Chris Salerno My business goals for 2020 are:

-$50M in MF volume 

-Speak at 4 large live events

-Write a book

-Surround myself with at least 5 people who are doing bigger things in multifamily than I am

-Hire at least 1 full time employee

-Create enough income for my wife to leave her full time W-2

@Randy Trageton We have a local bank we have used and they have been great so far, if you're interested in an intro send me a DM and I can connect you two.

@Daniel Lozowy I met my partners by attending meetups and Multifamily focused seminars.  This will not be something you find in your first few attempts but over time you will build on relationships that will turn into possible partnerships.  The key is to consistently put yourself out there, meet other people and tell them what your goals are.

@Daniel Lozowy This is where building or joining a team comes into play.  Multifamily is a team sport and you are only as good as that team.  Align yourself with others who have done what you want to be doing and add value to them.  Focus on joining the right team at first and do not worry about the amount of money/equity you will make on your first deal.  Gaining that experience and building your network is more important.  Best of luck!

@Charlotte Dunford

1-2% would be typical in my opinion.  As the deals get larger you should see the acquisition fee % come down a bit.  There are times when you will see 3% in this price range though.