Development potential to add more units.

Purchase price: $65,000 120 acres of wildland surrounded by national forest, in the midst of the Dixie Fire (2021) burn scar.

I ran the banking relationship department for a national debt brokerage.

However, after meeting with a friend who has real estate experience he mentioned that he predicts in about 12-18 months there will be a downturn of the market and an influx of foreclosures due to the pandemic forebearance.I now feel like our momentum and excitement has come to a screeching halt and I am unsure of whether or not to invest in this market.I understand long term the market works itself out, however, if I bought this multifamily unit on my current income, I cannot afford for the rental market to depreciate as well which is my fear.The mortgage would be about 4K.

Once you get past the zoning hurdle, its important to engage an architect who can lay out units.  

Purchase price: $65,000 120 acres of wildland surrounded by national forest, in the midst of the Dixie Fire (2021) burn scar.

So, rent did not start until April; I lost 2 months’ rent but this went about as good as I expected.For all the properties, OCF does require a reserve of $1000 per unit.

I specialize in small multifamily(2-4 units) deals both as an investor and agent. 

I would suggest first looking into buying a 5 unit multifamily building, and then another the year after.

Instead of buying 2-4 units buy 2 units in a BTR community.