BRRRR In York, Pennsylvania

9 Replies

I have on triplex and 3 duplexes in York. Quads are cool but I'm more interested in roi/cashflow than unit quantity. If SFH were close to the 2% model I'd go after them.

@Zachary Coombs

So you're saying based on what you have found, quads in York don't cashflow as well as a triplex for the amount of cash you put into it? For an example it would be more worth it to buy 2 triplexes rather than 2 quads? Please correct me if I am misunderstanding. I would think the other way around because in the end you'll have 2 more units which I would think brings in more cashflow as a whole.

Originally posted by @Nathan Barshinger :

@Zachary Coombs

So you're saying based on what you have found, quads in York don't cashflow as well as a triplex for the amount of cash you put into it? For an example it would be more worth it to buy 2 triplexes rather than 2 quads? Please correct me if I am misunderstanding. I would think the other way around because in the end you'll have 2 more units which I would think brings in more cashflow as a whole.

Im not trying to be a dick but have you done literally anything besides post on bigger pockets about York?

Do you have an agent, have you looked at the MLS? How many properties have you ran numbers on? What's the purchase and rehab price on a place in York for it to be a successful BRRR?

 

@Mike Ost

I understand where you're coming from.

I've been marketing for Williams and Dawber in York for single family and found some success even though it's only been a few months. I haven't started marketing for multifamily for the company or for myself yet.

Yes, I have started to work with an agent that is going to partner with me. I've been scouring the MLS for small multifamily only and I did run the numbers on a couple properties although I'm not fully confident that I did that right (the cashflow looked too good). My partner/agent is going to sit down with me and make sure I'm doing the numbers right (He invests as well). I haven't figured out what I want to go for, for the purchase and rehab price yet. I figured I'd post some more questions/read some other threads so I know what to look for. Just trying to get some things figured out is all.

Originally posted by @Nathan Barshinger :

@Zachary Coombs

So you're saying based on what you have found, quads in York don't cashflow as well as a triplex for the amount of cash you put into it? For an example it would be more worth it to buy 2 triplexes rather than 2 quads? Please correct me if I am misunderstanding. I would think the other way around because in the end you'll have 2 more units which I would think brings in more cashflow as a whole.

I just have not seen as many quads as the others. I would hold every property to the same criteria to make an offer based on income and expenses. Figure out your niche by reading and researching, find deals to analyze (fill your funnel), go look at properties and put together offers based on your criteria, figure out financing/purchase power at some point, submit offers, stick to your criteria, then build your rental property empire.

 I agree with @Mike Ost for the most point. There’s an incredible wealth of knowledge in books, podcasts, and YouTube/video resources that a lot of questions can be addressed, answered, and expounded on with creating new threads and discussions. How to analyze a deal, what market to choose, how to find a mentor, what niche is best for you, etc are all topics and titles of countless BP articles and many real estate and investment books cover this extensively.

Find something you can bring to the table to help or benefit others and build up on that to make yourself an invaluable asset and then others will be glad to help/mentor/partner.

Try answering these questions by looking for the answers yourself. I’m a big believer that there are no original ideas. Find a system or a goal you’d like to achieve, then follow the steps that person took. Brandon turners 90 day challenge and “the stack” got me to where I am.

@Zachary Coombs

I really appreciate your input and willingness to take the time to answer my questions.

I have been reading articles everyday and listening to countless podcasts per day. I was starting to feel more comfortable and so I dove a little deeper and changed my outlook and it turns out I had more questions than I originally thought haha. I also try searching for articles/threads that are similar to my questions before asking them, but I feel some aren't specific enough.

Just wanted to let you know I'm not trying to ask questions before looking into an article or a podcast.