Recognizing its strategic location behind two of my existing investment properties, I approached the owner directly.

This approach allowed me to secure the property quickly and provided the flexibility needed to cover the costs of resolving development issues and initiating plans for the duplex construction.

This approach allowed me to secure the property quickly and provided the flexibility needed to cover the costs of resolving development issues and initiating plans for the duplex construction.

This approach streamlined the acquisition process.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I get a LOT of these “we want to buy your property” mailers (immediately get thrown in the recycle file), “I have a buyer who is looking in your area let me sell your house” letters, physically approached by agents and people and I get  “we’re a family and we want to  buy your property “ pitch.

Just like syndicators, there are a lot of good realtors and management companies, but if you are susceptible to their marketing and don't do your due diligence, you will also learn that there are a lot of people in these professions that are more in it to close a deal versus make sure you get a good deal.While my syndication experience has been mixed, it is a very different approach than single family rentals.  

When I first saw the R/V, I approached the R/V to understand whats going on. i will refer to the squatter as Walter.

Will we approach other investors to do the deal with us or do it on our own? 

It’s cool to see your approach to finding underserved markets and building partnerships with local developers and GCs who share your vision.