All Forum Posts by: Nic Cooper

Seeking to expand into the Birmingham market and taking trip to check it out next week and meet with commercial brokers to get a general feel for the area. I'll be in Alabama Monday-Wednesday Sept 23-25th. Looking to connect with local investors, brokers, property managers. Targeting a 25+ unit value play C property.

Bringing this thread back to life.  Seeking to expand into the Hunstville market and taking trip to check it out next week and meet with commercial brokers to get a general feel for the area.  I'll be in town Monday-Wednesday Sept 23-25th.  Looking to connect with local investors, brokers, property managers. Targeting a 25+ unit value play C property.  

@John Koster Had same question if you took into account greater metro area and not only the city center.  Thank you for the Cleveland info.

@Katie L.  I am in the same boat as @Olena M..  Please pass any contacts.

@Brad Penley 

 Long term single family investor here in SD.  I was around for the rise in the early 2000s and then the crash.  And then the rise to where we are now.  I realized that my rental(s) had not been cash flowing much.  I did the numbers on what my ROE was. Truly pitiful.

You gotta ask yourself. Do you want to speculate and wait on real estate to rise or fall, betting on appreciation.  Or do you want to invest and any appreciation is a bonus on top of your cash flow. 

2 sides to each coin.  Investor vs speculator.   I think you can make money in any market depending on what your goals are.  Economy of scale has quite the ring to it.  While some may discount a few hundred bucks a unit.  Imagine if you had 50 or 100 units.   Yup those units exist in other areas of the country and you can buy one. Probably sooner that you think using your equity that you gained here.  

Also I am using Exeter Exchange for my 1031.  They are in San Diego and were very helpful as a QI.  David Blair helped me out there. CA also has a clawback provision on your 1031. So be aware of that.  

Good luck and congrats on all that equity.  Now put it to work.

@Priya Thomas always.  You are right.  I don't think I could invest unless I spent some time out here.

Reviving an old thread @Slocomb Reed looking at multis in Cincinatti the last week.  Most as stated above, water is paid by the landlord.  How did you broach it with your tenants that you were going to charge them for water?  RUBS seems like the easy button vice metering, then again this is based on 30 minutes of internet searching and BP reading.

Both. Spend time walking/driving the areas.  Meet up with fellow investors and local specialists.  Also lenders.  I saw a fair amount of properties.  Narrow down what areas you want to invest in then come out.  Network before you arrive.

I'm looking at Ohio as well.  Just spent 3 days in Cincinatti and now I'm in Columbus.  Cleveland next week.  I do recommend coming out to visit to help build up your team.  Yes the cash flow is important, the people are just as if not more important.

Thank you also got some sage advice that I should consider 2-4 unit properties to start off with.