All Forum Posts by: Nick L.

@Bryan Hancock, @David Ivy

Interested in your continuing thoughts on this subject a few months on. With regard to both single families and multis.

I have a couple of small lower-end multis in 78704 that juuuuuust cash flow. What are your feelings on a saturation of the tenant base and also capital outlook?

What quality level of handyman are you looking for? My guy Larry is excellent - very reliable, high quality and has a ton of different skills that save on specialists. He is not the cheapest and will always insist on doing a job to high standards. So better suited to higher quality properties and tenants. PM for contact details.

It's absolutely true - but sometimes the price is negative.

@Raquel L. I definitely understand your position. I have switched managers since I wrote that post.

@Joe Doxsey is your man. Great commercial agent in KY and OH. 

@Henry King Then the repairs don't get made. Sounds like that's what's happening here.

Could be a good opportunity for a deep-pocketed investor to pick up most or all of the units in one go, invest some capital, and run the place as apartments.

Invent a time machine and wind it back about 10 years?

OK seriously, Austin's a great location and I have properties there. But it's not easy. Cap rates are low and competition is high. You'll be lucky to find a property that hits the 1% rule and is not in a total warzone. 

If you care about appreciation but not cash flow, try the tech-heavy north side of the city, and the north and west suburbs. If you care more about cash flow, try the south side, Buda and Kyle. 

Austin is definitely reaching speculative levels in all areas so buyer beware.

Some great agents here on BP are @Carrie Hiner and @Adrian Salas.

I like pocket neighborhoods on the fringes of the city. I have a 6 unit in Milw on the edge of Tosa and tenants love it. I get a ton of inquiries each time I advertise a unit.

It helps to be super familiar with each neighborhood. A Class B block can be a couple of streets away from a Class D with little obvious difference between them.

Yes - they are excellent. 90%+ of the material is relevant to any rental property in Wisconsin. The remainder is specific to Milw City and County.

Also taking the course is a pre-req for purchasing certain kinds of city-owned properties, if that is part of your plan.

@Shelly Hopkins I've bought from a different auction site, similar to Hubzu. You asked for advice but I'm not sure what you're looking for. 

If you're looking to beat the competition - sorry, the secret's out. Everyone with cash or access to hard money is bidding on these properties.