Updated about 4 years ago on . Most recent reply
Noobie Looking to pull trigger before 12/31
Looking to finally jump in this year and get a multifamily or investment rental I can use accelerated depreciation. But every deal I am finding is literally double what it sold for maybe 2-3 years ago with no major reno or just priced well above.
How can I get my hands on a decent deal with a decent CAP rate? Seems like right now in my areas right now: Westchester County NY, New Haven County CT are just true shark territory and IM not a shark..... I look on loopnet, zillow, CL everyday but am running out of time.
Any insightful tips would love to hear them. Again the goal is to take advantage of accelerated depreciation for this year.
Most Popular Reply
Consider moving (renting) to the area you want to invest it. Be friendly; talk with neighbors, go on walks, talk to the postman. I've found 2 off-market deals in Westchester over the last 4 years by being socialable. By living there, you will also understand the area better; the good spots, the bad spots and what clientele you will likely be working with.
Good luck!
Joe