LogFAQs > #881669180

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Topic	What is your job?
Twin3Turbo 06/23/17 1:11:52 PM #43:	KILBOTz posted... Twin3Turbo posted... KILBOTz posted... first level manager without any employees working for me at a big company, working on a special project to implement SAP and some factory automation software and robots Been meaning to ask you, do you plan to buy more rental properties? That is my plan, to get as many multifamily units as I possibly can under my belt. Yes but I may have missed being able to buy in Seattle again. Even with a 5% annual rent increase I would be losing money for at least 5 years for most of the stuff I am seeing now let alone hitting my 8% ROI threshold I target. I had an offer in on an 8-plex last year at $720k but that building sold for like $850k after a bidding war. If it was selling this year it would probably go for $1M. My first property I bought was from a co-worker retiring that was moving to AZ and I got a slightly below market price on that without agent fees (had lawyers draw up the papers). I probably need to focus on private sales if I can find another place, I think. I understand the pain. I live in Dallas and overall, the cap rates are too low and many of the deals that I've seen are simply not good deals. That's why I'm looking at places outside of the area, the midwest tends to have a good bang for your buck, however, property values don't rise much in those areas in general. Great cashflow though. And yeah, unfortunately most of the good deals are not online. Those are usually the picked over deals. The good ones you need to do some marketing for and/or get on the investor list for some brokers --- https://imgflip.com/gif/di4a4 <cite>Twin3Turbo posted [p:881669180] in What is yo... [t:75492451]...</cite> <quote><cite>KILBOTz posted...</cite> <quote><cite>Twin3Turbo posted...</cite> <quote><cite>KILBOTz posted...</cite> <quote>first level manager without any employees working for me at a big company, working on a special project to implement SAP and some factory automation software and robots</quote> Been meaning to ask you, do you plan to buy more rental properties? That is my plan, to get as many multifamily units as I possibly can under my belt.</quote> Yes but I may have missed being able to buy in Seattle again. Even with a 5% annual rent increase I would be losing money for at least 5 years for most of the stuff I am seeing now let alone hitting my 8% ROI threshold I target. I had an offer in on an 8-plex last year at $720k but that building sold for like $850k after a bidding war. If it was selling this year it would probably go for $1M. My first property I bought was from a co-worker retiring that was moving to AZ and I got a slightly below market price on that without agent fees (had lawyers draw up the papers). I probably need to focus on private sales if I can find another place, I think.</quote> I understand the pain. I live in Dallas and overall, the cap rates are too low and many of the deals that I've seen are simply not good deals. That's why I'm looking at places outside of the area, the midwest tends to have a good bang for your buck, however, property values don't rise much in those areas in general. Great cashflow though. And yeah, unfortunately most of the good deals are not online. Those are usually the picked over deals. The good ones you need to do some marketing for and/or get on the investor list for some brokers --- https://imgflip.com/gif/di4a4</quote> ... Copied to Clipboard!
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