All Forum Posts by: Aaron Gaffney
Aaron Gaffney has started 3 posts and replied 70 times.
Post: Would you rent to someone who had a past eviction?
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
There is a Ghetto in Austin ?!?!!
Originally posted by @Aaron Gordy:
One has to screen for evictions. Evictions are, in essence, stealing. But I have a few questions. What kind of market is your property in? Working class...okay. Do you have better applicants? How long has it been vacant? How much money does the guy have to put down? If the guy has a bunch of money to put down then he is paying the risk away. If he can pay the entire year worth of rent then what is the risk? But again, I would check on the details of the eviction. What if the eviction was for something else other than lack of paying rent? You don't want to be dealing with an eviction for something other than nonpayment of rent.
Sometimes after months of vacancy one has to be flexible. I know of landlords in Austin that are considered slumlords and will rent to whoever IF need be and are very profitable. They require a huge deposit. Then again, their properties aren't considered Class A. In fact, I would classify them as F+. The plus as in they are profitable but most definitely ghetto fabulous.
Post: Pricing for a 200 unit complex?
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
multi family investing books are a great place to start (really excellent resources available through BP press). Price is really determined through NOI and is can be adjusted by different factors..
Post: First Flip is done, 39K profit!
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
Absolutely awesome result! Serious hoarder/addicts house before. Phew!!
Post: The current market in Bend, Oregon
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
The economy and home prices tanker there is the last recession, due to it being focused so much on recreation and vacation homes. It is a wonderful place to live for sure, and if you are investing in other parts of the country, it could be a great place to settle down!
Post: How can I buy a 96 unit apartment complex
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
Look up @Anthony Chara he offers great education and boot camps for apartment investors (and the opportunity to find others and partner with them! The ones who may have the pieces you don’t.)Meanwhile, there’s tons of information here on bigger pockets, great books in the bookstore, educate yourself. The rat race sucks but you need income coming in right now. Read Scott trenche’s set for life if you haven’t already, it’s a great game plan for getting started house hacking in multi family, and working your way up…
Post: Frustrate with contractors
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
they are mostly shady and lazy- I’ve spent a CAREER cleaning up after other contractors(and homeowners!!)
Post: What are your goals for the week?
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
Awesome let’s chat soon!
Post: What are your goals for the week?
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
Thx @Ken Breeze! Looking at 11 unit in Eastern Washington, major value add and cash flow for a smaller entry point. Major changes and upwards movement at workplace. Let’s chat soon!!
Post: Disrupting the Real Estate Sales? Will RE Agents be extinct?
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
Originally posted by @Charlie MacPherson:
@Chuck Kramer I have, but Zillow is simply not going to be able to provide the same kind of service that a good buyer's agent can. Same goes for Amazon.
No doubt some people will be just fine. It's when things get wrapped around the axle that those buyers will need a good, experienced agent to bail them out or to hold a tough deal together.
Still the smart agent will diversify their income. I'm doing flips, selling residential real estate and brokering businesses. That prepares me for the market taking another nosedive or for a major disruptor like Zillow or Amazon.
Totally agree here. I live in Seattle area and while Amazon may be huge, displacing some market share for other retailers, it will never replace all brick and mortar options- not anywhere close, even in the city it is headquaretered in! For one thing, people get tired of sending things back and forth endlessly, it's a huge time suck if some thing doesn't fit right etc etc. But another, bigger reason is that humans are social animals. Whle we do crave simplicity and ease, we also love to be around other humans- for experiences and to show off our trickets and gadgets. No body gets to do that if we are all sittign at home 24/7! Shopping, movies, eating out etc. are all big time social events constantly happening and no they are not going anywhere.
Post: Getting Started in Design-Build for Real Estate Investing
- Investor
- Santa Barbara, CA
- Posts 75
- Votes 35
plenty of opportunity up here in the North Puget Sound! Market may be getting towards saturation though, a lot of new construction. Personally interested in Eugene, Bend, other east of the mountain areas... the rain is a bit much all winter. :)