A new Investors questions for 2021
Hi All!
I am at the early stages of my investing career and was hoping to gain some insight here from my fellow like minded peers. I am based in NY but looking to invest in long term rentals in other states. Would love to gain some of your insight and or thoughts on the below.
- 2021 multi family projections and market over all
- 2021 up and coming markets (states/cities)
- Insight on the governments forbearances and moratoriums..more importantly their potential impact
- In terms of acquiring property, should we capitalize on the low rates or wait for the supposed "crash"?
- Baseline stats/data you look for in a multifamily investment (% of cash flow, Cap rate, demographics, etc)
- Advice for buying out of state and best practices
- Best advice for pulling the trigger on that first investment!
I appreciate all the insight and would open the opportunity to chat on the matter with all!
Best,
Mike
Most Popular Reply
- 2021 multi family projections and market over all
I believe the market will remain strong into 2021 especially in markets with strong macro economics - population growth, diverse employment, etc. Money is cheap and the FED has stated they will hold rates low for a while. I don't think we will see a crash anytime soon due to the lack of housing available, however we may see a pull back as rates climb. My opinion
- 2021 up and coming markets (states/cities)
COLUMBUS OHIO :)
- In terms of acquiring property, should we capitalize on the low rates or wait for the supposed "crash"?
What if a crash never comes?? Buy now, buy later, keep buying at all times. Just change your criteria as the market changes. Find great deals so that you can weather a storm if one comes. But don't be one of the many people waiting on the sidelines to buy property and never get in.
- Baseline stats/data you look for in a multifamily investment (% of cash flow, Cap rate, demographics, etc)
In columbus I like 15% coc with a minimum cashflow per door at 100 but prefferably closer to 250. Usually can only get 250 if I renovate
- Advice for buying out of state and best practices
Work with a great real estate agent...they will make your life easy with great deals and referrals for other team members.
- Best advice for pulling the trigger on that first investment!
Work with an agent and start making offers. Don't be a tire kicker. Your first deal won't be your best. Submit offers at a price that works for you don't hold back. As an investment realtor I want my clients submitting offers every week I don't care if they are 20% below list...an offer gives me soemthing to negotiate :)