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All Forum Posts by: Nick Shri

Nick Shri has started 31 posts and replied 214 times.

Post: Investing in Up & Coming Areas

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132

@Elise Watt Well done and Congratulations on your purchase! I love to read the purchased via MLS stories, it proves that deals and money can still be made off MLS and not necessarily off-market!! Thank you for sharing your adventure..

Post: My first real estate investment

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132

@Richie Thomas Congratulations on pulling the strings and getting in the game! The journey gets more exciting from here. 

Post: Acquired new MF in Cleveland

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132

@Sitaram Koppaka Well done and Congratulations!!

Post: Northern VA Open Networking - July 2022

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132
Quote from @Jin Lim:
Just a friendly reminder that we are meeting tonight! Due to the hot and humid weather, we'll try and snag a spot indoors today.
Looking forward to seeing and meeting everyone!
6 PM right?

Post: Northern VA Open Networking - July 2022

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132
Quote from @Jin Lim:

Aloha,

This event is for all investors, new and experienced, to come to hang out and talk about real estate. So come hang out, eat delicious BBQ, and drink beer while we chat about real estate investing.

Last meet-up, we had someone looking to start investing in large multifamily so we linked him up with a trusted syndicator that was willing to take him on under a 506b offering while teaching him the ropes! My boy @Dairius Kawewehi also went under contract for a commercial office building out in Kansas City, MO this past month!

My goal with this meet-up is to provide as much value as I can through networking and knowledge. I hope to see you there!

Nice..looking forward to attend and meet you all!

Post: Investing in Multi-family Units In Baltimore?

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132
Quote from @Michele Velazquez:

I have been doing a lot of research on where to buy my first multi- family unit and I found Baltimore interesting.  I wanted to know what experience you have had investing there?  My goal is cash flow and decent appreciation.  TIA

With your goals stay out of Baltimore. First of all MD is a tenant friendly state. Have you looked at Baltimore stats in terms of economic growth, population growth etc? The properties in Baltimore are ridiculously cheap for a reason. I haven't see much appreciation in Baltimore over past few years. If you are looking for CF AND decent appreciation, look in mid-west, buy off-market below market value and you will meet both of your goals.

Good luck..

Post: OOS Turn Key Rental Property

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132

@Ashley McWilliams What you haven't shared is why you are going TK route? You probably have goals in mind and if you wish to accomplish them, map your goals with what a particular city/town has to offer. You have received enough information above on which cities to invest in, just answer yourself this - why should I invest in <city name>!

Post: Macon, Ga Contractors

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132
Quote from @Scot Evans:

Hello BP Family, 

I am days away from the closing of my first investment property. I am having trouble finding contractors who have a portfolio in the Macon, Ga area. I have searched the platform here on BP and I am having trouble generating any leads and I am for certain they are in the area or they have those who are close who travel to that area. I live in Atlanta and I have job that I have during the week which makes it quite difficult to use the technique of going to Home Depot or other locations in the morning to find leads. Can anyone share any advice or leads of contractors who service in the Macon, GA area. Thank you all in advance. 

Respectfully, 

Look up CraigsList, FB, Insta for Macon area leads. Identify Investors in Macon area, try to partner up with them so they will share their contacts with you. Contractors are very high in demand and no existing investor will share their good contacts for nothing. Think beyond, hey share me your contact, think here is what I have to offer for your contractor contacts. Or you could take a day or two off and drive down to Macon HD/Lowes/7-11 or whatever spot.
All the best..

Post: I need some tips for my first property investment please

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132

Welcome @Eviatar Maman to BP! Familiarize yourself with this blog post - https://www.biggerpockets.com/... 

Neighborhoods vary from street to street, don't be surprised if you see similar houses sold with $50k difference within 1/4 mile of each other.

Good luck..

Post: Question about increasing rent & refinancing a duplex

Nick Shri
Pro Member
Posted
  • Rental Property Investor
  • Virginia
  • Posts 216
  • Votes 132
Quote from @Greg Larson:

@Nick Shri that's fair!

Nonetheless, do you have any experience with forcing appreciation through raising rents by chance? I'm curious what others have seen for ARV increase after significantly (and almost doubling) rents on 2-4 unit multifamily

No you can't force appreciate by increasing rents for 2-4 MF. Only if you buy cheap (off-market fixer upper, rehab) and you get market ARV. If you make higher rents than others in the area well congratulations! But your ARV will be market value. Hope this helps.