All Forum Posts by: Trevor Richardson

If you are really starting the RE journey I’d make that your full time job. 

3 comps is good. Pictures are for sure good. Are you a real estate agent?

(NAR) National Association of Realtors has a bunch of data. Zillow and Redfin also have significant area by area data.

In Reno one of our best success stories is when we saw an unreal under priced 12 plex hit the market in a premium area. It listed for around $1.4m and hit on a Monday night on MLS in 2021. We identified it and beat out 9 offers for our top multifamily client. He then put $300k into the property renovating all 12 units and we sold it for him in 2022 for $3.3m.

We talk about this all the time. Yes there are good and great deals on the market. Don’t listen to anyone who says says the opposite. There is a trick though.

You have to be consistently looking for deals and analyze them in mass to see the great deals. People that trash MLS listings LoopNet just don't know how to analyze deals in mass. Off-market transactions can be good deals but take it from this multifamily broker who has done a lot of on and off-market deals. They are about the same in terms of finding good deals. Some of the best deals we have done for clients were properties on market. We just identified them and analyzed them quickly.

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Networking is key agree, I suppose when we go to an “ok” event we always say to ourselves, we’ll at least we met X person. And that’s true you have to get out there.

Have you been to a terrible or great event? I’m wondering what content really helped an investor get the ball rolling and what was a time waster. Thanks.

What is your experience going to real estate investing meetups? Did it benefit you or waste of time?

I don’t want to stomp on your idea and wish you luck. But just a hard fact. Building multifamily is 100x harder and more riskier than buying multifamily that needs a renovation even with the tough lending environment. There is just now way around that. 

Look for a brokerage that has a specialized small multifamily team. Does that exist in your market?

Renting vs Buying a home. If you are an investor or thinking about investing I can see both opportunity and struggle.

That enormous gap between rent and mortgage is essentially why institutional investors (Wall Street) have stopped buying for now. Even if they have different debt than an average home buyer the rent just can’t keep up with the cost of capital.

So what’s the good news if you are an individual investor (not a big Wall Street investor)?

1. You are not competing aginst them at this time for ideal rental properties. It’s all you!

2. Because people are struggling purchasing a home they instead turn to rent a home. Demand is propped up.

3. You can negotiate with sellers more in this softer market. If you have cash you are really in the driver seat when approaching a seller.