All Forum Posts by: Tyler Warne

@Quan Chau ask for the meter history. See if that was transposed or there was another issue on their end. , similar addresses, similar names if there is something in common that you tenant and the city transposed it could be the issue.

@James Pederson my wife is an attorney she would and always does say, “document document document” all interactions, notes from phone calls, email or whatever. Sorry you are in this situation. This too shall pass.

@Patrick Flanagan dcr of more than 1.5.

@John Weiss that’s what I see too. Crazy times seems to be continuing.

@Dennis Nikolaev I have seen these sell as a portfolio but there is usually a little discount which is what brings a new buyer. 10-15% then the new buyer is in a position to liquidate one at a time a little easier if needed and or that is the incentive.

@Heidi Goehri No problem on my end, it is crazy out there and not much is making fiscal sense right now. I have several investors looking for what you are looking for and most duplexes that are worth owning as is are selling for $150,000+ per unit at about 5.5 caps. I don't think they are the best investments at this time. Let me know if you get super specific, Anaconda and Butte are both possibilities, but they have some issues as well. Let me know if I can assist. Thanks a bunch!

-Tyler

@Heidi Goehri

My name is Tyler Warne and I am a realtor and appraiser in the Helena market. I service Helena Boulder Townsend a White Sulphur Springs and Big Sky. If you have any questions certainly reach out. All of the markets are fairly tight right now. The best option is finding something that is below market rent and purchasing then raising rent. I still have some 8 and 9 cap Commercial deals that are kicking around, but they might be a little higher barrier to entry. What is your budget?

@Chris Sullivan I think that would at least be a start to an argument. You could approach the subject like, i sure seems like the 15% difference in sfr values should mean something in the 2-4 unit space. This could also be supported by land values, rents etc. If you get $150 per unit more than the duplexes in the other town that would equate to $300 x (his GRM) we'll use 125 = $37,500 more in value on an income approach.

This is pretty cool Dave. It is very in-depth.

I think, however, that it could benefit with a 1 page or less conclusion that could be all the data boiled down into a chart and paragraph about a recommendation to investors. 

Something like; "While the market conditions in the Dallas Market are unprecedented and new heights of the median and average home prices at this time, there is still a lack of supply and relatively low new construction permits, strong employment that is getting stronger and still historically low interest rates. Since the demand is still present, appreciation is expected to continue for the short term. This being said, we are not at the 'bottom' of the cycle and investors should proceed with caution. Therefore, it is our recommendation to proceed with ... yadda yadda yadda...larger equity positions to protect from a down-turn"  -me

Also I would like to know what makes the market 'high risk' in the report since it appears that inventory levels are still at an all time low, that demand is still present and there is not a large expected increase in home building. This restricted supply should mean the party will go on for some time. 

Furthermore, I think that poor decisions made today, eg. a purchaser is buying something they might not be able to afford, will take 2 years before it comes to light in a bankruptcy or sell off. 

I personally think that we have 12 - 18 months of party left before a major slow-down nationally - maybe even longer if folks keep selling NFTs for stupid money and we (USA) keep printing it. 

Looks good though! Thanks for the analysis! 

Can you derive an adjustment for the difference in towns? Could you find 3 comps of a single family that is common in both and show that there is a 5, 10 or 15% difference in the location? That would be sufficient support to help the lender go back to the appraiser and say - the borrower states there is a difference in location, here is his evidence...

-Tyler