Reply With Quote??? deals on rentals or for sale ???
With all the crap talk about rentals we should post some of these screeming deals here.
Some of us would truly dig that!!
??? deals on rentals or for sale ???
I bought a foreclosure place 18 years ago with a house on it on 4 acres for 180K
I sold off 2 of the 4 acres and parceled into 1 acre each
Put in a road and utilities sold the one acre lots for 150K each to a builder
The builder build houses and each sold for 600K each. My house is worth over 500K now with the improvements.
Timing played a big factor in this deal
There is so many deals out on the market. What might work now may not work 2 years from now.
Reading and doing your home work helps in planning ahead
Stay away from 5-9 unit residential rentals. Why? Too long to type the story but an appraiser told me so.
Stay away from 5-9 unit residential rentals. Why? Too long to type the story but an appraiser told me so.
Like to know what his/your take on 5-9 units is? They've been good to me
Like to know what his/your take on 5-9 units is? They've been good to me
Not saying they are bad to hold onto. Just not a good time to buy into them. The sales price on these are astronomical when compared to the annual gross rents, at least in the Los Angeles/OC areas. Appraisals coming in short, especially income approach. Appraisers cutting back sales comparison approach as well.
Not saying they are bad to hold onto. Just not a good time to buy into them. The sales price on these are astronomical when compared to the annual gross rents, at least in the Los Angeles/OC areas. Appraisals coming in short, especially income approach. Appraisers cutting back sales comparison approach as well.
Gotcha, thanks for the 411. BTW, what do ya think about rolling Ca units into out of state nnn commercial right now?
Gotcha, thanks for the 411. BTW, what do ya think about rolling Ca units into out of state nnn commercial right now?
Depends on the state. Stay out of Texas. I have seen A LOT of my borrowers going to different states and the properties cash flow with 20% down, something you don't see in California. I've seen good NNN properties in Utah, Ohio, Alabama, Mississippi and all have seemed to work out so far for my customers. These are properties to hold onto, not flip down the road for something bigger. The mass amounts of appreciation is just not there to cover the sellilng fees.
On the other side of the spectrum, I have also been asked by a couple borrowers if they could deed the property back to the bank as well, one being in the St. Louis area(8 unit residential). That specific property was property managment. When you get so far away from home, you have to find a property manager you trust, otherwise, you can be taken to the bank.
I had a borrower purchasing 45 units in Tempe, AZ. The existing owner had a ASU student running the propety for him(idiot). He was renting out the units cash to his buddies and telling the owners there was just high vacancy. Make sure that you are close enough to monitor your investments.
Depends on the state. Stay out of Texas. I have seen A LOT of my borrowers going to different states and the properties cash flow with 20% down, something you don't see in California. I've seen good NNN properties in Utah, Ohio, Alabama, Mississippi and all have seemed to work out so far for my customers. These are properties to hold onto, not flip down the road for something bigger. The mass amounts of appreciation is just not there to cover the sellilng fees.
On the other side of the spectrum, I have also been asked by a couple borrowers if they could deed the property back to the bank as well, one being in the St. Louis area(8 unit residential). That specific property was property managment. When you get so far away from home, you have to find a property manager you trust, otherwise, you can be taken to the bank.
I had a borrower purchasing 45 units in Tempe, AZ. The existing owner had a ASU student running the propety for him(idiot). He was renting out the units cash to his buddies and telling the owners there was just high vacancy. Make sure that you are close enough to monitor your investments.
Thanks, you can't beat that advise
OK you guys are messed up!!!! I mean deals on the market right now!!!!! I don't need real estate advice, I need to find the sreemin deals!!!!
Who do you know that is desparate? What investment have you seen and gone, "Dam thats a good deal"
Then why the hell didm't you buy it?
If it was because of cash, there are all kinds of finder fees to be had or partnerships.
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