All Forum Posts by: Andrew Kahle

Investment Info:

Single-family residence buy & hold investment.

Kim's team has been great so far! Been finding a lot of deals out in FL for us out of state investors.

Hi,

Does anyone know a lender tha'tll loan on 50k houses in Indiana?

I am wanting to buy about 10, 50k houses out in Gary Indiana. I am buying them from a successful investor who owns outright 130 of these homes. I want to 1031E a SFH with 150k equity that I have in PHX into them. I am fine putting extra cash in as well. 25%, 30%, 40% even if thats what it takes. I prefer not to own them all in cash. Credit score around 750+, plenty of reserve money in the bank to own outright but want to leverage some.

thanks!!!

Andrew

@Mike, Very true, I'm sure Joyce found a good fourplex and that is a good area in NW glendale.  I saw some investor just put up for sale about 3-4 multifamilies a little SE of there.  

I also have had better luck with SFH's that need a little 20-30k rehab. I've currently moved over and bought a few SFH's in the charlotte and central Florida areas, but sounds like you have a good way of finding deals here in AZ still, I'll send you a DM.! Thanks!

Yah, I can search for fourplexes for sale, but the cap rates are all terrible. Having a hard time finding some decent ones not in the ghetto.  Curious how Joyce found a good one/good deal.

howd you find a deal on 4-plex in PHX? I've been looking forever, which suburb is it in and what cap rate did you get? thanks!

You are trying to have your cake and eat it too.

Brandon wasnt finding 12% cash on cash in tempe.   85281 is a top 5 fastest rent appreciation zip code in the country.

he was finding 12% CoC in podunk washington.

That said, you can find deals in some of these suburbs that need huge amount of repairs/rehab, or there are some deals foreclosures.

Or you can invest in the ghetto's of PHX. and get 12% CoC possibly.

Or you can invest out of the state which I've been doing the last couple years.

Thanks for all the replies and private messages, feel free to private message me deals/contact info! thanks.

Long story short we've been buying SFH's for 7+ years in Phoenix and are now long overdue on a couple of them to move the equity into multifamilies as our ROE has become very low. We have two houses with 150k equity in each that I'd like to 1031E and put down 25-30% on a couple multifamilies that cost 300k to 550k each (or 1MM combined). Ideally we want from a duplex up to a ~10-unit building.

We're fine with wholesales, or projects that need money to fix up.  We're also fine doing a reverse 1031E since the tenants are on M2M and we haven't sold the houses yet b/c we want a good deal locked in first. (we have cash as well to put as down payments and finance)  We've already talked to Dave Foster on these forums to use his company.

I've been throwing out aggressive offers 10% over asking, 50k over asking on mutifamiles, and even one that said I would beat all other offers by $1k. And they still went with other offers, so not sure how else to land one.... need help!

I would appreciate any deals you find and send them over to me! If you could include the current cap rates and expected cap rates after fixups.

We'd like the multifamily to be in these places

Phoenix (glendale, scottsdale, mesa, tempe, chandler, gilbert) 

(Charlotte, concord, gastonia)

 (Orlando, Kissimmee, Lakeland, tampa, clearwater, st. petersburg, palm harbor, tarpon springs, port richey)

Thanks!

Andrew

@Dave Foster how did you pull that rent/own data?  Is there a way to pull by city/ zip and rank them? Thanks!

@Tyler Gibson

I Recently bought in Winter Haven because it seems the ROI is better. It seems hard to hit near the 1% rule in Orlando unless you buy on the west side of orlando but looking at crime maps is it too much of D/C neighborhoods there? Where are you finding your deals? Which suburbs? Im definitely bullish on orlando and want to diverisfy out of PHX and buy more in orlando. How are you finding your deals? Thanks!