All Forum Posts by: Craig N.

Hi Everyone,

What do people here think about Multifamily in Lafayette? 

What's the local economy like? In-migration of millenials and jobs?

Would anyone be a buyer?

Unfortunately not too much market data available for Louisiana, let alone Lafayette.

(Maybe that's my answer?)

Thanks.

@Tom,

You are correct. Unfortunately, as soon as I hit the send key, it immediately hit me. Thanks.

Hi,

Does anyone have experience with buying Cincy turnkey properties such as those offered by Smartland?  As a working professional and passive RE investor I prefer the convenience of crowdfunded RE investing and would be open to turnkey property investing a la Roofstock.com or Smartland.com. Wondering what others think of turnkey, and what their experiences might have been with Smartland. Thanks.

I have lived in Maplewood for past 17 years, and for past 1-2 years have seen a lot of orange license plates cruising around town (i.e NYC transplants).  Town has a good rep, Midtown Direct to Penn Station. If one buys right you probably would do well. Am starting to see some big bumps in prices in nearby homes that are part of my comparable set. Expensive Maplewood is still cheaper than expensive Brooklyn and Manhattan.

As it' been 7 months to 1 year since this thread was last responded to, was wondering if anyone has an update on Killeen that they'd like to share. 

Am looking at a value-add MF opportunity right now. With what seems to be median home prices of around $81k, wondering how much sense MF rentals are if SFR are priced so cheaply, relatively speaking. Thanks.

I correct myself, the hold period is 1 to 1.25 years, not 5 years. My apologies.

@Jay Hinrichs

There is apparently a Hidden Valley in Santa Rosa (I'm on east coast no no idea). This from Zillow:

"Highly desirable corner lot in Hidden Valley Estates. A great opportunity to own land in one of Santa Rosa's most sought after neighborhoods! Prior to fires was a 1,840 sf home with 3 bedrooms and 3 bathrooms. Lot has been cleared and is awaiting certification."

@Brian Burke

I was recently pitched a deal by a relatively well-know real estate person to buy 10s of lots in Coffey Park, Fountains Grove, and Hidden Valley. While I like the area from a demographic and economic perspective, I, like you, had thought about the cost of materials and potential for labor shortages. In other words staying on time and on budget may be a challenge and could wreck the deal, although the towns are expediting approvals to get that juicy property tax revenue collecting again. However, this person alleges to have a team in place that is ready to do the work and could achieve some efficiencies and economies of scale given several units will be worked on at one time.  If that were truly the case, would it be worth a second look at the deal? Or is Santa Rosa just not a good place right now for real estate investment?  In the pitch deck, I'm seeing $262 to $275 a square foot for hard and soft costs across the above locations. Planned hold is 5 years. Would welcome your thoughts, and that of others in that neck of the woods. Thanks, Craig N.

I would like to borrow a sum of money whereby I pay the interest monthly or quarterly, and pay the full principle back at maturity along with the final interest payment. 

For example, a 5% monthly-pay $100K loan for 5 years would be paid back as follows: 60 $416.67 monthly interest payments, plus the return of $100K on the 60th month.

Do the above terms (forgetting the interest rate) exist anywhere? If so, where?

BTW, this payment scheme is how a typical fixed-rate bullet bond contractually pays.

Thanks.

@John Papa

I have not gone back to Montclair, although I should just to put the idea to bed. In meantime, I've been investing in RE via syndication. This suits my life style right now, as I have a good job that I'm not yet ready to quit. I have also been thinking about property mgmt as way in.