All Forum Posts by: Amit Kal

@Zach Hoskins great job! Those numbers sound well above average. 

I'm an investor in Nashville core. Happy to talk about what you are working on and see if there is a fit. 

@James Wachob I am. I am squarely in core Nashville. Inglewood, Woodbine, Donelson, Bordeaux and the nicer parts of Madison. 

@James Wachob still very possible to get 1% or better deals in Nashville. Takes work. And sometimes a decent amount of rehab. But still very possible. I personally would take 1% in Nashville over 1.5%-2% in Memphis any day. 

Buy a property with existing tenants sucks because you cede control and are take over exiting liabilities. Consider this is a "soft cost" you need to budget for the time you buy a property with tenants in place. In the meantime it will cost you some this year but it's one time and hopefully you get things in order with stronger leases, better tenant screening, etc. after this tenant goes.

@Abdul Azeez I want to offer a couple of suggestions. 

In your forecast, before you purchase any property, you should build in some "soft costs" you will need to prepare for if things that longer than expected. 

One of them is absolutely the holding costs to get a property on the market. 60-90 days is what I would have done for a market like Memphis. 

Second thing - do real estate but do it in better markets. You are in the right State but the wrong city. Look at Nashville. It is heads and shoulders better than Memphis for all aspects of REI, except perhaps cash flow.

Drop the rent to $950 and you will still be fine if your purchase was <$90k. 

Good luck bud!

What's the interest rate on the card?Mass transit + Uber/Lyft/Via + CitiBike were  enough for me to  get rid of my car.  Even if it cost me a little extra I don't have any of the liability maintaining the car or potentially getting into an accident and bearing all responsibility. 

$35 a square foot, easy.

Don't time the market. Just keep buying good assets at good prices with enough cushion on margins and cash reserves that you can ride out a downturn without too much stress. All the while, figure out how you can get access to capital when there is a big dip in the market so you can take advantage.

Yes it is too big unless it's common for folks there to live with roommates. You will rent it but it will likely take longer and you won't be getting the best rental per square foot bang for your buck. But if it's zoned for a great school district or has some other amazing attribute like a million dollar view, you will fare much better.

PM's who are on your TEAM will be critical to determining market conditions and helping you retain tenants and increasing rents over time. With a % of rent as their fee, they grow as you do. I think it's a fair trade off. The leasing fee itself can be negotiated.