All Forum Posts by: Serge Roux

Thanks @Hamp Lee III I've been posting in the facebook groups and here hoping to have a similar effect to the REIAs. I'm based out of NYC and investing virtually. I sold my properties in NY and am looking for a more landlord friendly state (NY is brutal).

@Eliott Elias. I'm doing just that by sending out direct mail every month. I'm looking for the zip codes where I can purchase distressed homes or the up and coming neighborhoods. The home owners I'm speaking with want too much at the moment (I'll be following up with them and maybe their situations changes).

Anyone flipping in ATL that likes a certain area and has a buy box for their flips?

I'm a newbie to flipping properties (I've done buy and hold deals only) and wanted to know how to get started flipping properties in the Atlanta market? What zip codes should I be looking at in terms of getting the best ROI?

Is anyone doing deals in Bibb and/or Houston counties in Georgia? I'm planning to start doing some flips in these areas.

Who is currently doing deals in Bibb and Houston counties? I want to connect with you about your market.

I've done some market research and am looking to shift some of my off market operations (currently centered on Gwinnett) to Bibb and Houston counties.

I'm an investor with a base in Lawrenceville.

I've compiled some data that I'd like to share with you to determine its validity as well as where the investor movement is. The numbers give me a snapshot of the market but not who's buying (investors or retail buyers).

I'm primarily focused on active income (flips, wholetailing, and wholesales of residential properties).

Please let me know in what zip codes you're investing in?

PS - I like to connect old school. Shoot me a message if you'd like to connect via phone.

I’m in your same boat @Guillermo Rozenblat in terms of being overwhelmed. 

However, I read something here that I resonate with - Time in the market is better than timing the market.

I don’t know much about this cuz it’s something I recently heard on a BP podcast (I forget the episode) but they mentioned something about challenging appraisals. Not sure that’s an option but it could be something you research. If you can get the appraisal to come in higher you open up more financing. You’d still be stuck with the higher interest rate, however. 

Good luck with you decision!

When looking for multifamily properties (5 units or more), what’s the process to pursue a deal?

Are you sending out offers first based on knowing the market and what a property can generate for rent/unit and making an offer below market value? 

Are you finding the potential deal first, working with the owner to analyze the property, and then make an offer?

Or is it dependent on whether the property is found on market or off market:

For instance:

On market: Analyze property and make offer based on what numbers work for you.

Off market: Make an offer, get offer accepted, then offer is contingent on your due diligence/cash flow analysis after offer is accepted?

I ask because you won’t really know the issues with a property until you get it inspected (and even then there may be some misses as I’ve been hearing).

They say underwriting is key to multifamily success.  

So my real question is, what’s the process you take before you begin investing your time and money into a bigger multifamily property?

@Basit Siddiqi We got lucky and sold our multifamily property right before covid and before tenants were allowed to skip out on rent.

We then sold our coop as it was going to be cash flow negative (it was a studio in Manhattan which we had lived in for a few years).

I did listen to that recent episode and it's one of the reasons I decided to post and get more involved in the BP forums. While I'm a social person, in-person, I'm typically a ghost follower on social channels. I'm trying to change that in the hopes to make some connections.

@Steven Foster Wilson Thanks for that info. I only briefly looked at the midwest (Fort Wayne, Indiana to be exact) and then brought my search back to NY. I've sent you a DM.

@Alex Talcott I've sent you a DM!

Hey @Mohammed Rahman, thanks for the informative and thoughtful post.

I completely forgot that EventBrite existed! Thanks for that tip - I'll be sure to look up events there.

As far as where we're looking, we're targeting Upstate, NY. I'm still running through my market analysis to determine which submarket I want to target as well as contacting lenders.

How about yourself - where are you looking to purchase your multifamily once you have your savings?