All Forum Posts by: Michael Maxie
Michael Maxie has started 2 posts and replied 6 times.
Post: Wheres my Alabama Investors
- Property Manager
- Mobile and Baldwin County, AL
- Posts 6
- Votes 1
Hey Shaun, I actually live in the area and I'd say Mobile’s core industries—shipbuilding, aerospace, port operations—are a big reason I feel good about long-term rental demand and property values here. These jobs aren’t going anywhere, and they attract a steady workforce that needs housing. Also adding a new international Airport, huge bridge project and so many other jobs being created.
Post: Deal Sourcing for Apartments and RV Parks
- Property Manager
- Mobile and Baldwin County, AL
- Posts 6
- Votes 1
Thats good advice. Thank you for the response!
Post: Deal Sourcing for Apartments and RV Parks
- Property Manager
- Mobile and Baldwin County, AL
- Posts 6
- Votes 1
Quote from @Gino Barbaro:
I think you have a real opportunity in the next 12 months to make some great relationships with brokers. Business has slowed down, and they are hungry looking for buyers and sellers.
I know your post was about direct to seller, but in the multifamily space, if you're looking to purchase bigger deals, anything 100+ units, it's more challenging direct to seller.
I would start with sites like Crexi to aggregate data in a specific market, and target what you're trying to buy. # units, time left on debt, how many years held, whatever you're focusing on.
We've also had some success using wholesalers to bring us deals. One of our members brought us a deal last year.
Looking forward to reading everyone else's response.
Good luck
Gino
Gino, thank you so much for the feedback. I'm actually apart of a mastermind that expresses relationships with brokers. I'm a residential realtor and don't really have any relationships with any commercial realtors in that space. From what Ii understand brokers pass deals along to past client they know can close a deal and when it hits the market its almost like a graveyard...I think for myself I'd be better off closing a deal with a mom-n-pop type owner and hopefully seller-finance an older property with some value-add to force appreciation.
I appreciate your response, do you have any feedback on this?
Post: Deal Sourcing for Apartments and RV Parks
- Property Manager
- Mobile and Baldwin County, AL
- Posts 6
- Votes 1
I'm looking to move into the apartment and or rv space. Curious to hear how y'all are marketing to and reaching owners the director-to-seller route...Thanks!
Post: If you had $300k how would you use it to generate maximum cashflow
- Property Manager
- Mobile and Baldwin County, AL
- Posts 6
- Votes 1
Quote from @Travis Pehle:
Quote from @David Yee:
Thank you everyone for your insights! It seems that most people feel that purchasing a single property with all cash is not as good an idea as investing in multiple properties with leverage. Does the fact that I have a full time job and am not able to be a full time investor change anyone's perspective on this?
If you want maximum cashflow and the least headache consider buying a new build without debt. You can buy a brand new house in a great area and have a great asset. If you buy a package of 6 lesser houses that means I have 6 roofs, 6 hvac, less cashflow, and likely subpar appreciation(dollar for dollar) compared to better areas.
The reduced maintenance costs, higher rents, better tenants, appreciation, and reduced hassle factor for new construction are real and attractive.
And if you buy all cash and you don't like it then simply put a mortgage on it and use the cash to buy another.
I agree Travis. I'm new to the group and I made a post on another category page. I'm a realtor in Coastal Alabama and we have a high-production builder down here (DR HORTON). If you're looking for long-term, We have investors from literally all over the country buying these new builds.
Horton has been offering all sorts of $$ towards rate buy downs, upgrades, closing costs for months and its definitely hurt re-sells. The new builds rent really well and $$ appreciate really well and fast
Post: Any of you invested in Baldwin County, AL New Construction? Here's what I'm seeing
- Property Manager
- Mobile and Baldwin County, AL
- Posts 6
- Votes 1
I live here and am a Realtor in Baldwin County. New Constuction has been the hottest seller for awhile now...DR Horton is building nonstop. Buyers from about any state you can think of are buying here..some moving, a lot just buying for an investment. Re-sells are having a hard time competing bc Hortons Lender is offering much lower interest rates plus $$$ toward upgrades/buydowns/closing costs.
Anyways just thought I'd share what is going on in my market!