All Forum Posts by: Account Closed

Hello all,

I just got a 22 unit apartment building which had two very large warehouses attached to it.  (Apts upstairs, warehouses down).

The building was being operated as a community almost commune ... so suffice it to say, the rents are well below market. The area is in the very 'hot' downtown OKC. My plan is to upgrade the rentals, re-purpose the warehouse into an event space, which will create a significant value add and ROI. The issue I am having so far is ... what type of loan should I get? Current rents, it doesn't cash flow well. Due diligence will be a challenge as well since they don't have leases on the tenants and most are month to month. I see the upside potential which looks fantastic. Long road ahead ...

@Alyssa Dyer meeting with brokers and owners.  I have a property under contract.  we should talk!

@Alyssa Dyer fantastic!

Hey thanks every one for your replies.  I am an active investor but have in general avoided CT but thinking more and more about buying here.  I own a duplex in Black Rock.  My main focus is apartment buildings in emerging markets - right now OKC and NW Arkansas.   I also might consider wholesaling which is why I am curious about your criteria.  Thank you again. Please let me know if I can help you in any way.  

@Brian Pulaski  I haven't been brave enough to venture into the NY market ... maybe a nice cabin upstate. :)

Hello BP world,

Given that Connecticut is a fairly unique market, I am curious what you're looking to buy? SFR? Multi? Are you looking to flip or buy and hold? Personally I've been looking outside the state but thinking about looking for more deals here in the home state. At any rate, if I can help in any way feel free to connect. Thanks and have a super week.

@Hyacinth Dolor  so much to say!  Many options and directions you could go. Private message me if you'd like to connect. In short, what experience do you have with property management?  With 300k you could buy $1m asset  or so... probably 20- 50 units.  It sounds like you're looking to do minor repairs, rent it, then re-hab and sell or buy and hold for the long term?  Best would be to reach out to every broker, also target a specific area and market to owners to see if they are willing to sell.   I have a rental in Black Rock and live in SONO

Hey, I think the key to investing on those areas would be hiring a PM with experience working with those types of properties and tenants 

Hey any wholesalers out there who specialize in multifamily? OKC area.

@Salvatore Lentini . thank you for the advice!