All Forum Posts by: Andrew Hofing

@Anthony Angotti  Check out citydata.com, they have a ton of statistical data, demographic information for the city, every neighboring city, municipality and town.  Also, check out the allegheny county website; http://www.alleghenycounty.us/real-estate/related-..., they have updated their site and it is more user friendly. 

Good luck!

@Nathan Worden The map radius tool is pretty interesting, but I'm not really sure how to make the most use out of it.  Let me know if you have any suggestions.  Also, I went into to check out the Zillow tool and once I input the address and go to the next screen it wants me to verify the owner as though I am the owner doing an inquiry.  What am I supposed to enter @ this point?  Thanks

@Jacob Howell can you pm me the address and details.  FYI this would not be considered a turnkey investment property.  Turnkey would be 0 - minimal repairs and currently fully rented.  Thanks!

I am looking to start a direct mail campaign.  I would like to mail to out of state owners of multifamily apartment buildings.  I see a lot of posts about investors using Listsource to get their lists to mail to for direct mail campaigns.  Is Listsource the most affordable and best quality for getting my list of owners of duplex's up to 20 unit properties?

Is it a good idea to say something in my direct mail copy about the impending rate hike and that real estate values will likely decline in correlation?  I have some leads on vacant properties with absentee owners and I'm trying to come up with good copy that will get a response.  Thanks for any feedback and input!

@Chris Harrington  how long did you hold the 4-unit and 12-unit until you saw the appreciation.  Did you have that planned out from the beginning or did you watch to see when you felt it was the right time?

Thanks!

Hi @Brian Larson this appears to be a great resource. What is Delta of Offer over 75% of ARV? Also, what is the NOI ratio, Is it amount of operating income compared to expenses? Why is greater than 50% is better? Also, how do you gauge things; ie if you have 4 yellow and 4 green?

Thanks,

Andrew

@Brian Adams what sources do you use to scrub the data?  Who are you using for your mailing lists?

Thanks

Ya, we are thinking it's better as a more long term hold.  There may be some things we have to renovate, but yes we could probably hold off on doing the carpet, flooring, kitchen work that would disrupt someone's living space.  Thanks for the insight @Austin Youmans You are right....the tenants have kept living there regardless for as long as they have anyway.

We are looking @ purchasing an 8-unit townhouse.  It is going to be a value add property.  The rents appear to be on the lower side and can be raised over time about $100.  One of the units has been renovated with a new kitchen/dish washer, new flooring, carpet and it get $733.  Atleast 4 of the units have long term tenants, 7yrs or more.  My question is how do you renovate the units and keep the long term tenants living there?  It appears from the units we got to view that the people are somewhat of pack rats.  How do you put in new carpet, flooring and kitchen cabinets, etc with these people living there and then increase the rent to make up for investing all the extra money in the units?  The tenants we talked to are already complaining that their rent has increased $20/mo. since the current owner took over.