All Forum Posts by: Ryan Lee

Who land banks? What are your strategies to finding good places to bank? What to watch out for when picking land to buy for the purpose of holding either long term or to develop with no project in mind?

It depends on your current situation and how hungry you are for a deal. I like to be very patient for deals and so for that I would probably want to see the max purchase price around 350k. Obviously the lower the better, but I think you can get decent financing and still be able to cash flow decent at that price range. 

It depends on many factors. Tenant type, location, asset type, etc. I would say that the way cap rates have compressed over the last few years that multifamily housing is going to be between 4 and 6% so anything over that is great. Office has seen lows too too but i think its probably safer to assume between 5 and 7%. Retail is extremely dependent on the tenants credibility, so I will need more specifics of the leases and and net income to give you a better idea what I think is good. Hope that helps a little. 

In talking with a buddy we were talking about what you can and can't do with out a property managers license. I know there are gray areas, but is there anybody who is performing more of a concierge service than a property management service? What do your tasks look like and what are your limits?

No, its not too crazy to find investors with less down. It is a relationship business though. So where are you networking to find investors? Have you sought out money partners? 

I can only assume yes, But then again I am not an attorney in Texas. Keep us posted on what you find out.

When you say that you have called, who are you calling? I would imagine any title company should know what you are looking for and be able to help.

Just as @Justin Morgan said planning for appreciation is speculative. If you going to look into a market to invest in the most "important" (IMO) thing to look for is how does it perform now and is that rental stable for the future. Especially when you are working in a market you don't know all that well. Obviously there a enormous amount of ways to analyze a potential deal, so you just really have to have a firm grasp of what it is that you want from your investments. Good luck and keep asking questions.

Awesome!!! Welcome to the community! Network network network. Go read the book 10 X by Grant Cardone and then go network. Get into an Real Estate Investor Association (REIA) and network. Also set a goal for being active in this community as well (how many posts a day are you going to read or post).

I think you get the point that all you need to do right now is network. Now go have some fun. 

@Andrew Mykletun Do you live in St George or are you an outsider looking in?

I don't do a lot of investing there, but i have noticed significant growth there and I can attest to pretty consistent appreciation over the past several years as well as rent increase. There is a lot of data out there that you can study to get a idea of the area and job growth along with other factors. Here is a starting point http://www.usa.com/saint-george-ut.htm