All Forum Posts by: Matthew Pritchett

I've heard that the best way to price commercial real estate is with NOI and cap rate - but what if the property is only 40% occupied? Certainly I can't offer 40% of asking, but how low is too low? How high is too high?

Thanks for your tips advice and wisdom on this one. 

Investment Info:

Single-family residence buy & hold investment in Akron.

Purchase price: $46,000

Turnkey 2/1 SFH.

What made you interested in investing in this type of deal?

Had to get started and wanted to do it the easiest way with a ready to go rental with everything in place.

How did you find this deal and how did you negotiate it?

True Turnkey - found them online

How did you finance this deal?

Cash

Lessons learned? Challenges?

Renters can be trying and complain. The right property manager is important. Don’t ever buy unseen until I better understand properties and inspections.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $2,000

3/1 SFH with lots of storage.

What made you interested in investing in this type of deal?

Cash Flow

How did you find this deal and how did you negotiate it?

REA

How did you finance this deal?

Cash

How did you add value to the deal?

Low cost repairs, touch ups and appliances.

Lessons learned? Challenges?

Don’t have people you work with do work on your house without keeping a close eye on them.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Suzie Mack

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000

3/1 SFH with attached garage and nice fenced backyard with storage shed. It was partially rehabbed by the prior resident - still needs an upgrade to the kitchen.

What made you interested in investing in this type of deal?

It was in good shape, a good price, and solid cash flow.

How did you find this deal and how did you negotiate it?

Local REA had a price they’d accept that was a good deal

How did you finance this deal?

Cash

Lessons learned? Challenges?

First self managed property. Went through the applicant process with apartments.com and Zillow rentals. Had the on site interviews and walk through a with applicants. Learned to keep looking until you find the person you trust to be in your house. Then follow up rapidly on maintenance requests to keep them.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Suzie Mack

I have a real estate agent I have done a couple deals and some offers with. I’ve asked her and she gets back to me quickly. Maybe a local agent could help you out. 

I was trying to grab an apartment complex in Milwaukee and got blasted out of the market because of higher than asking prices. This was unique because the seller called me to tell me they were getting very high offers. I think that’s really unique. If someone doesn’t respond, just go to the next one. There are so many out there and if this is what you want to do, then do it :)

Hi, I'm new to the forums. Robert Kiyosaki started my interest with the Cash Flow game a few years ago and then the BP podcasts really got me pumped. I started with a SFH turnkey in Akron, OH last year and that's through the first lease and on month to month. Currently self managing two properties in Marion, IN and have a 4-unit MFH on contract.

I want to get into a commercial deal and I’m analyzing them now. Would like to keep it local to self manage before transferring all my local properties to a property management company so I can go after more deals in the future.

I’m looking to invest more in central Indiana. As an add, I’m a numbers guy and love to analyze deals, I’ve also been in operations in my day to day job for the last 15 years.

I’d like to find a solid contractor in the area, a real estate tax professional, property manager, and real estate business attorney to set up my company.

If you’re, local to central Indiana, please add me. 

Looking for people interested in real estate investment local to Marion, Kokomo, Fort Wayne, Muncie, Indiana and in between. 

Would like to BRRRR in Akron, OH and looking for a contractor that is experienced with rental refurbs.