BiggerPockets

My wife is a real estate agent, and I identify and acquire properties which we then upgrade as needed. Typically, we obtain a cash on cash return of not less than 20% to 27%. This does not include the 10% we factor in for management, nor thereappreciation of properties which we currently buy at $30 or so per SF. In Arizona, houses are not the best buy at this time, although they have attracted much of the attention. We track all listings, short sales, pre-forclosures, and foreclosures, and our niche is multi-family. We also run spread sheets, have our own rehab team that we throw into buildings since many are foreclosures and inevitably have deferred maintenance issues and occassionally some vandalism. We do not buy junk, and do not buy ghetto properties.

Comments (2)

I maintain a comprehensive data base of preforeclosures, foreclosures, short sales and listings for 3 plex's and 4 plex's. This data can be sent via a spread sheet or as a summary. In addition, I'm infilling the preforeclosure data on apartments over 4 units, and that will be available in a few days. Typically, one can expect to purchase the smaller units for $25,000 per apartment, give or take a few thousand for improvements, or as it relates to location. 03:28AM on July 14, 2009 · Eben Calder

Do you have any info that you can send me on the areas that you are working in and price ranges 11:12AM on July 13, 2009 · Leslye Schiff