All Forum Posts by: Nathan Schloff

@Jason Baker congrats man! I just sold a property and am looking for apartments or self storage in the 500K-1.5M range in Michigan to complete the 1031 exchange. Completely depends on the area but you can get 25 units pretty easy in that range. It depends if you’re searching for stabilized or value add but you could easily finance a $2M property with $400K if stabilized and you know some bankers. I just saw a really nice 63 unit that went for $2.4M.

@Amanda Jarrett great job! Can you manage my properties too?😂

Hello!

Relative newbie (Done 3 deals) here interested in some deals in the St. Joseph, MI market. I couldn't find much on the forums about the quality of the St. Joe, MI market so I'm looking for any advice on investing in the market! Does anyone have experience and know of any particular neighborhoods to watch out for? I've been told Benton Harbor should be left to more experienced investors but I'm curious to see what people say!

Thanks!

Nathan

Hello!

I have discovered an apartment building for sale that is less than 10 minutes from a major airport in a relatively quiet neighborhood. I think the building would be a good deal as-is but there is a lot of uncertainty around a looming depression and I would like to get into more value-add buy and hold stuff, for obvious reasons.

I am wondering if anyone has experience in this arena? And are these type of STR's worth it? (thinking constant demand for people who have early flights or corporate housing for pilots). I am curious how CoVid will reshape the travel industry as a whole, I don't think people will ever stop flying, but how long will it be until we are back at healthy levels.

Being conservative and using a 40% vacancy rate, each apartment netting $50 a night, each converted apartment would net $900 a month. Market rent is $550 and that's what the building is currently valued on/a little under.

Everything on Airbnb is over $100 a night so I think these numbers are pretty conservative.

Somedays I think these numbers are way too conservative and other times it's like I could never get that! left-brain indecisiveness.

What are your thoughts! Is this a deal worth pursuing given the information provided?

Thank you for your time! Just trying to quit the rat race!

Nathan Schloff

Tim's out here telling it like it is. Keep it up Tim!

I've had my agent reaching out to many sellers over the past 2 months with only 3 of them saying they are interested in seller financing and none of them working out for other reasons. Looking for creative ways to land more deals!

Background: bought my first deal 2 months ago as owner occupied duplex and have been turned off by the banks' restrictions, fees and regulations on buying strictly investment properties. Looking to get into properties with only 10% down instead of conventional. Main constraint is limited access to affordable capital. Let me know your thoughts!

Thanks!

@Brian Ellis thats the route I'm leaning most towards. Thanks!

@Sarah Smith do you do LVP in basements too? That's where the carpet currently is. Seems weird to me but if it works and is cost effective then I'll look into it!

@Matthew Irish-Jones I like the "they will install it" part. Thanks!

Former tenant trashed my carpet. Looking for recommendations to the most durable brand, style, type of carpet and where I can get it cheaply?

Thanks!