Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.

I had a wild old man call me one time when I first started sending out yellow letters asking me why I wanted to buy his house when I live in a perfectly fine house.  

What also is interesting is that over the past few year I get yellow letters only once a quarter but from the same guys.

@Robert Quiroz I think all of the factors you have listed might contribute.So I’m not going to comment on that but I am going to comment on an assumption you made.If 85% of rents are below market on deals you underwrite then those contract rents are probably THE market rent.You can’t just go based upon area median income to rent ratio.First off urban areas are oftentimes street by street, block by block.

Paul and Special Financing Company both  promised they would take care of this by December 27th and then just today in the mail I got two letters saying that they had transferred my loan to another company...That is the most insane thing I have ever encountered in all the years of dealing with shady businesses on the internet-!!!!

Besides a declining population and tenant-friendly laws, you have to deal with the fact that neighborhoods can be as small as a city block in many cases.

That means you must give notice of 30 or 60 days when ending the rental, filing an eviction and other things that have to be done to the letter of the law. 

Blocks away from Seton University, one with 11 bedrooms and 4 baths and the other with 14 bedrooms and 4 baths.Both show signs of deferred maintenance but one more so than the other. 

Letters, post cards even calls are useless to this owner class. 

Just north of town 10 blocks they built about 100 mini houses about 300 square feet.