All Forum Posts by: Logan Parrette

@Bjorn

Thank you very much for your words and insight! Just hearing the thoughts from someone who has had successful experience is encouraging and appreciated. Sounds like I'll stay strong on the course, maybe switch things up, and keep persevering! 

@Bjorn Ahlblad I'm not sure how to get started in an overly competitive market like Burlington has. The buyer's here have a mentality of purchasing just to purchase because the "market is hot" and they have the capital to do so. 

To me, it appears to create an extraordinarily high entry barrier and risk for someone just getting involved. When units are going for $200k/door without a bat of the eye and I don't have experience with this yet, I don't feel like it would be wise of me to dump my entire savings into a mere two doors when there's other areas that still offer upside potential and allow me access to 4+ units for the half the cost of two in Burlington, if that makes sense. 

Granted, I know the devil's advocate to that will say that there's equally as much risk with investing in a smaller-sized market. So pick your poison.

I may have another look at some of those artery markets surrounding Burlington, but they're starting to catch the flames from Burlington as well and have their $$$ per unit catapulting similarly to Burlington's!

Mmm, that's part of the challenge. I'm looking at northern VT where primetime is Burlington, VT @ ~43,000ppl. Great renter's market... the issue is the incredible cost of rental units. Duplexes, alone, are easily realizing $200k(+)/unit. Not exactly conducive for working towards getting involved in the multifamily arena here.

Because of that, I've been looking at an area that's outside of Burlington and it's county, as the same story rings true for Burlington's 'feeding' cities and towns, too. 

This has been part of my obstacle with moving past the "where" part of where to invest.

Hi All!,

I'm hoping there is some guidance on where I'm at right now. I'm ready to pull the trigger on purchasing my first investment property and feel like I am stuck at the infant stage of analyzing the market I have in my sights!

I've read and watched so much content on this stage and I still feel like I've made no progress. I've referenced a half-dozen books on the topic too, including BP's, and it seems like the market analysis advice is all similar and kept surface-level.

I see common themes of looking at the affordability, job growth, unemployment rate, disparity, migration, supply and demand, etc., yet these still feel so empty to me. I feel like I'm not actually analyzing anything or going deep enough into the market I'm looking at. I'm utilizing tons of suggested resources like city-data, Census Bureau, local news and property managers, zillow/redfin, rentometer, DOL, Dept. of Numbers, and the likes.

I'm also finding difficulty in making an educated decision because the area is so small. It has a population of 8600ppl. A lot of market analysis content I'm finding seems to be geared towards large cities. Although, the math doesn't necessarily change when it comes to rules of thumbs for the analysis, I find it incredibly difficult to see, say, 20%(+,-) in anything when it's such a small sample size.

Am I making this harder than it needs to be? Is there any insight you can provide as to what I'm missing, etc.? 

Happy to provide any additional information that would be helpful too. Really...any guidance is graciously invited! Thanks all!!! :)

Hi Kyle,

Are you still active on BP? Would love to touch base w/ you about investing in Burlington. Also, congrats on the reopen a bit back! Nice to see you're back open and supporting the community again! :)

- Logan