All Forum Posts by: Michael O.

@Dan Mahoney

Thank you for your input, talked to a local PM there that handles 18 sfh rentals in that area. Pretty much what you guys have said has been spot on with analysis of the property. Half of those rentals have some sort of government assistance, however the MF I'm looking at has none. Demand is high Rent Rolls shows almost no vacancy in the last 12 months and while checking apartments.com no other in the area have vacancy as well which is a good sign.

The PM also had told me that he gets constant calls from people wanted to purchase the SFH so they can fix and flip which is a positive sign for the area.

Thanks,

@Ethan Henning,

Pretty sketchy meaning it's a war zone? or Just a c class property in a class neighborhood?

Hello all,

I am currently looking at a MF in Washington Park area of Atlanta. I have looked at some data online seems as if it is a high crime area. Anyone with local knowledge of the area please let me know your thoughts. 

Also, looking for a good PM that runs larger multifamily (50 units +) in the Atlanta area any recommendations would be great. 

Thanks,

Michael

Strange @Mike Montana I get big properties and mid size. The email I got yesterday contains 60-300 units, one was offered at 98m.

I'm looking for larger also, between 50-100 class c/b Ohio and southeast states minus FL.

I am not sure if Wholesale is the right description for these people, but you know what I'm talking about. They're not brokers but most claim to be direct to seller or one away from the seller. 

Anyway, with the market place being hot right now and finding the right deals harder and harder has anyone had any luck with these types of operations. I do get my email spammed every so often but never really looked at their deals, although I'm starting to. 

They usually charge 3% of purchase, which is fine, I just model it into acquisition cost see if the numbers work but has anyone done deals with wholesalers? 

Hello all just wondering about Freddie/Fannie loans for MF. I am looking at a deal that is part of a portfolio for 80 units split into two complexes (40 units each). Same town, same seller, can I roll that into one loan or would it have to be two separate loans. 

Thanks,

@Luke Miller

I plan on flying out there in the next 2 weeks, looking to invest in MF same unit count 20-75ish. If you want to chat send me a pm.

 You can use something like uber conference, and the person who is running the show can mute people if it gets to hectic. 

Thanks for all the input. Broker said it went under contract today when I called him about my concerns.

Thanks guys, property went under contract today near ask price.