All Forum Posts by: Terrance Doyle

@Virgilio Mateo What's up man! Congrats on getting your first deal UC, that is a huge accomplishment.

I would be interested to hear more about the opportunity, let's talk when you have a few minutes.

Best,

@Alan Salazar 

I agree with @Nabil Suleiman, most investors I know that own large multi family properties in LA, have been in the business for a number of years, and bought 4 years ago or more. Due to some areas not having rent control, the cap rates that they are trading @ can be extremely aggressive, I have seen as low as 3% based on pure speculation and projections.

If you are dead set on buying multi family in LA, I would recommend trying to meet as many younger commercial brokers, and find a way to be their first call when they find an off market complex and move quickly because they will go fast. From my experience in buying and selling multi family in other hot markets around the country, the key becomes trust with as many brokers as possible who will call you when they have a deal before one of their other investors.

Good Luck man, don't hesitate to reach out with any other questions.

Best,

@Jerry Putsawatanachai What's up man! I have been in your position many times before, and think what you're doing is incredibly wise. I have been a part of owning over 100 units in Denver throughout the past 5-6 years, and we have gone through several property management companies. The absolute best company from my experience is Atlas Property Management. We have worked with a gentlemen named Nick Mertens who specializes in Denver, but they have a presence in several Colorado markets if Denver is not where you need help. 

If you would like Nick personal info, inbox me and I will connect you!

BEst

@Jan H. What's up man! I am actually born and raised in DSM, and currently own and manage just over 200 units throughout the city. It is a great market to invest in for both SFR and multi family, although out of state investors have been pushing prices up on multi family more than SFR. We used to be able to buy 8-10 cap apartment buildings, but over the past 12 months a lot of money from both coasts have started to uncover what you are, and the prices on multi family is closer to 6.5-7.5 currently. Still better than anything you can probably find in California. I think the most value in DSM currently, if you can find the right PM, is in SFR. We are buying SFR for around 50k per property and renting for around 1k. One thing to note is that property taxes are much higher, and the city enforces rental inspections more than any other market I am aware of.

Having owned 100 unit rental portfolio's previously in numerous states, I think that DSM, and suburbs have incredible upside, but the key is management. Labor costs are 20-30% higher than my core market in Denver, which was very surprising to me, which makes finding a PM that has in house maintenance, electrical, plumbing, HVAC very valuable. 

I hope this helps answer some of your initial questions, if you have anything more specific, feel free to inbox me and I will help in anyway I can.

Best,

@Julie A. - welcome to BP! I too am pretty new to the community, but have loved listening to the podcast and reading the blog on a weekly basis. I really enjoy the community that has been built around all things real estate investing. As Matt said it sounds like you have had a pretty good start with your investing career, maybe 1 or 2 flips for profit could be considered "luck" but after as many as it sounds like you have done, I think you just found your niche!!

I manage a small real estate investment company based in Denver, started flipping with a few buddies in 2008, and branched off on my own in 2014. We don't operate in NC, but have done deals all over the country, specifically buying @ auction where we have purchased and sold or (rented) north of 250 auction properties. I personally think it is still the best way to find distressed properties. Needless to say I would be more than happy to help you in anyway that I can while being in Denver, obviously if you can find someone in NC that would be more ideal and you won't hurt my feelings if you don't want help from a stranger on the other side of the country. 

Keep up the great work!!

@Dustin Frank What's up man! I have a few ideas for you. Are you still looking for someone?

I run a small fix and flip operation in Denver, and have a few good GC's that I could recommend. Feel free to hit me up anytime and we can discuss in more detail. 

Best,

Vince:

A partner of mine has invested into a few Origin deals in Denver, and had good results. Thanks for posting, this is great info.

Keep up the good work!

Dave,

What's up man, how are you? I work for a small investment fund based in Denver, we primarily focus on apartments, and flips, but one of my partners is very bullish on mobile home parks. I was recently reading a few article about Wyoming ironically, and am intrigued by the home prices, and low property taxes.

What can you tell me about Cheyenne as a market to invest in?

job growth

migration

rents

I am interested to learn more about the market, and any opportunities that you have access to. We are looking for experienced operators to invest in, partner with, and do deals in secondary markets around the country.

look forward to connecting!

BEst