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How hard is it to make it investing in multi unit residential properties?

Mid to lower end places on the outskirts of a metro area, ca...
laser wolf
  06/12/19
...
laser wolf
  06/12/19
Goy?
This too is meaningless.
  06/12/19
I don’t live in NY, LA or Israel. So yes, I’m a ...
laser wolf
  06/12/19
Find jews and learn how to rent seek
This too is meaningless.
  06/12/19
there are people out there who retire pretty well in their 3...
michael doodikoff
  06/12/19
What do you recommend as a resource for a motivated non reta...
laser wolf
  06/12/19
Unless you can find 16+ units don't bother Find other mon...
This too is meaningless.
  06/12/19
So you’d buy one unit? Or maybe finance 3? Terrible ...
hank_scorpio
  06/12/19
Why is buying one or even three units bad if he can get some...
michael doodikoff
  06/12/19
Just do take 5 percent off the top for the bank then 10 for ...
hank_scorpio
  06/12/19
people do it all the time
michael doodikoff
  06/12/19
With a few million maybe, at a hundred k you’re one mo...
hank_scorpio
  06/12/19
there's a reason multifamily units are always hard to find a...
michael doodikoff
  06/12/19
And there’s a reason shit houses in are country are ch...
hank_scorpio
  06/12/19
The reason isn’t what you think.
\'\'\'\'\"\'\"\'\'\"\'\'\'
  06/12/19
Yes. The reason being lack of space, suitably priced dirt, z...
\'\'\'\'\"\'\"\'\'\"\'\'\'
  06/12/19
Could start with little houses/duplexes in small towns with ...
laser wolf
  06/12/19
So a 10 percent management fee, yearly maintenance costs, in...
hank_scorpio
  06/12/19
just depends man. There are people on biggerpockets who ...
michael doodikoff
  06/12/19
I own no properties yet and am just getting into this myself...
michael doodikoff
  06/12/19
...
laser wolf
  06/12/19
it's much harder than it was 6-7 years ago 2012 was the b...
exeunt
  06/12/19
Cr bestbest is to lay low Save cash and hope market tanks
This too is meaningless.
  06/12/19
Might be my move since I don’t have enough stashed yet...
laser wolf
  06/12/19
protip, there are still cities where you can buy houses for ...
michael doodikoff
  06/12/19
forwarded to rbi
Grandpa of the Year
  06/12/19


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Reply Favorite

Date: June 12th, 2019 4:10 PM
Author: laser wolf

Mid to lower end places on the outskirts of a metro area, cap rates of 7-9 percent? Is this a viable way to create wealth?

Which poaster is the bort MFE on this subject?

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38379597)



Reply Favorite

Date: June 12th, 2019 5:32 PM
Author: laser wolf



(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380006)



Reply Favorite

Date: June 12th, 2019 5:33 PM
Author: This too is meaningless.

Goy?

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380010)



Reply Favorite

Date: June 12th, 2019 5:38 PM
Author: laser wolf

I don’t live in NY, LA or Israel. So yes, I’m a goy and there are almost no Jews where I live. Someone has to fill the void.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380040)



Reply Favorite

Date: June 12th, 2019 5:39 PM
Author: This too is meaningless.

Find jews and learn how to rent seek

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380047)



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Date: June 12th, 2019 5:36 PM
Author: michael doodikoff

there are people out there who retire pretty well in their 30s and 40s doing exactly this.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380021)



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Date: June 12th, 2019 5:37 PM
Author: laser wolf

What do you recommend as a resource for a motivated non retard? Only have about $100k Capital to play with so would need to start small

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380033)



Reply Favorite

Date: June 12th, 2019 5:39 PM
Author: This too is meaningless.

Unless you can find 16+ units don't bother

Find other money or see if you can finance it on the 100k for a 16+ unit or you will eat a bag of salt and vinegar dicks

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380042)



Reply Favorite

Date: June 12th, 2019 5:41 PM
Author: hank_scorpio

So you’d buy one unit? Or maybe finance 3?

Terrible idea, I have a friend who owns a real estate management company, it’s essentially just family money so he’s doing great but that’s because his grandfather bought up a shit ton. Trying to buy in for a hundred grand is just adding headaches to an average investment.

It’s obviously different if you can afford to build an apt complex yourself

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380061)



Reply Favorite

Date: June 12th, 2019 5:43 PM
Author: michael doodikoff

Why is buying one or even three units bad if he can get some positive cash flow out of it? He can manage it himself or pay a property manger 10% to manage it for him and avoid headaches

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380070)



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Date: June 12th, 2019 5:44 PM
Author: hank_scorpio

Just do take 5 percent off the top for the bank then 10 for management then pay insurance then cover maintenance, great idea

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380077)



Reply Favorite

Date: June 12th, 2019 5:49 PM
Author: michael doodikoff

people do it all the time

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380089)



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Date: June 12th, 2019 5:52 PM
Author: hank_scorpio

With a few million maybe, at a hundred k you’re one months missed rent from being underwater. As an aside, this friend insists that college apartments are the cr way to go since you can make their parents co sign and it’s all loans so they always pay. The expected damage is still less than renting to proles apparently

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380107)



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Date: June 12th, 2019 5:58 PM
Author: michael doodikoff

there's a reason multifamily units are always hard to find around college campuses.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380130)



Reply Favorite

Date: June 12th, 2019 6:00 PM
Author: hank_scorpio

And there’s a reason shit houses in are country are cheap and plentiful. Enjoy the hazmat bill after your first meth lab

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380137)



Reply Favorite

Date: June 12th, 2019 6:01 PM
Author: \'\'\'\'\"\'\"\'\'\"\'\'\'


The reason isn’t what you think.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380140)



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Date: June 12th, 2019 6:02 PM
Author: \'\'\'\'\"\'\"\'\'\"\'\'\'


Yes. The reason being lack of space, suitably priced dirt, zoning and colleges predating the invention of Multifamily. The student housing concerns are building product anywhere they can near colleges these days.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380153)



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Date: June 12th, 2019 5:58 PM
Author: laser wolf

Could start with little houses/duplexes in small towns with LACs. Plenty of those here in the Midwest.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380132)



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Date: June 12th, 2019 6:02 PM
Author: hank_scorpio

So a 10 percent management fee, yearly maintenance costs, insurance, property taxes, and whatever your loan costs before you see a red cent? Again, on a large enough scale you can definitely do great, with one unit you’re asking to get fucked in the ass

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380154)



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Date: June 12th, 2019 7:50 PM
Author: michael doodikoff

just depends man.

There are people on biggerpockets who are happy to get $100 a month cash flow. In fact, it seems fairly common on there. They are banking on property value/equity increasing, rents eventually increasing, stuff like that.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380526)



Reply Favorite

Date: June 12th, 2019 5:41 PM
Author: michael doodikoff

I own no properties yet and am just getting into this myself, but I've listened to many hours of podcasts on the subject and read thousands of forum posts.

First thing first, go join biggerpockets.com - their forum community is ridiculously helpful and they have literally millions of posts to search through. You can even focus on particular cities to see discussion. I learned a shit load from there.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380062)



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Date: June 12th, 2019 5:53 PM
Author: laser wolf



(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380113)



Reply Favorite

Date: June 12th, 2019 5:39 PM
Author: exeunt (0x6c542c3a976e324ccb84d594cbc084bd57597849)

it's much harder than it was 6-7 years ago

2012 was the best time in decades to buy real estate. rates were cheap and prices, too. not uncommon for people to have 5-10xd their money in re (with leverage) since then.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380045)



Reply Favorite

Date: June 12th, 2019 5:40 PM
Author: This too is meaningless.

Cr bestbest is to lay low

Save cash and hope market tanks

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380051)



Reply Favorite

Date: June 12th, 2019 5:40 PM
Author: laser wolf

Might be my move since I don’t have enough stashed yet.

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380055)



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Date: June 12th, 2019 5:44 PM
Author: michael doodikoff

protip, there are still cities where you can buy houses for cheap, like crazy cheap - Macon and Columbus GA, Montgomery AL, Chattanooga TN, etc. But be warned, the biggerpockets crowd is also looking at these same places- there are people on these boards from CA flying out to small towns in the south to buy up cheap property

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380078)



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Date: June 12th, 2019 6:03 PM
Author: Grandpa of the Year

forwarded to rbi

(http://www.autoadmit.com/thread.php?thread_id=4281610&forum_id=2#38380158)