All Forum Posts by: Ross Stroud

Does anybody do sheriff sales exclusively or in part, and if so how hard are they to make money. Risk reward?

Does anybody do sheriff sales exclusively or in part, and if so how hard are they to make money. Risk reward?

@James Wise My market I was looking at is a dying rual manufacturing town that is losing the the jobs. People are driving an hour just to make $12-14 an hour. People in that market aren’t keen to renting. Properties are occupied by people who have lived in them for a long time and have no intention of selling and not much area to do new construction of apartment complexes which is a lot of bread that I don’t have. People either live with parents because it’s the most fiscally responsible so renting makes cash flow extremely small. In the neighborhood of 100 a month which I doubt there would even be 50+ properties that I would need to be financially free. And people can barely afford good condition properties so flipping is pretty much ruled out. Unless people will take $1000 for a property to demolish and rebuild I can’t build equity and expect people to buy. I’ll kill myself in holding costs.

@Ali Hashemi was looking at less since I’m just starting but if the numbers are there to match need and finances I wouldn’t complain. For clarification are you meaning 5 or more units per property or as in buying wholesale duplex, tris, and quads?

Looking to invest in MFP in Indy area. Any realtors who specialize in Multi-Family properties who can send leads my way?

@Brian Garlington realized I didn’t say where. My market is in rural southern Indiana.

@Brian Garlington There are maybe 2 duplexes in my market and wont be for sale. No Tri or 4 plexes. There are a couple of 10-12 unit apartment buildings that also would require 300,000+ before they’d even consider selling. I own my own home and have two toddler children so don’t want to sell and move into a multi family. In my market it’s either houses that are in too good of condition and can’t afford to buy and increase equity to flip or ones that are beyond repair and not looking into new constructions since area is not expanding at a high enough rate and hold onto until some out of town we decides they want a luxurious vacation home.

My market is very low income. Lack of good paying jobs don’t allow for much home ownership and most rentals are so run down they practically need gutted, and most renters can only afford Section 8. Houses are uaually on market for over 3 months minimum as well with very limited appreciation. Want to start investing but don’t know where to start.