All Forum Posts by: Bryce Y.
Bryce Y. has started 23 posts and replied 299 times.
So what is the correct move when being held ransom by these guys? Just cut the internet connection?
Post: Houston Apartment - 29 units
- Dallas, TX
- Posts 308
- Votes 59
Great work! Is your plan to refi out of hard money, then refi again in a year to pull cash out? Seems like a lot of closing costs...
Post: Just closed on 32 unit apartment
- Dallas, TX
- Posts 308
- Votes 59
Congrats on this deal. That is a solid area. You mentioned this was your first deal. Did the bank not put a lot of emphasis on experience? I would love to get into multi's of this size but even if I could raise capital or partner for the downpayment, I feel like banks would not take me seriously due to lack of experience.
Post: Analyzing Numbers on a 4-Plex
- Dallas, TX
- Posts 308
- Votes 59
Paying for heat and water makes this no deal for me. You're probably looking at 65-70% expenses. If the cost of water or gas goes up substantially you could be in a potentially bad situation.
Post: Please help analyze my first Multi-family Deal in Fort Worth Texas
- Dallas, TX
- Posts 308
- Votes 59
I don't know the Ft Worth area, but if it's anything like Dallas, I'd bet my left leg there is something seriously wrong with the property or it has a ton of deferred maintenance if it has been on MLS that long.
4-plexes in Dallas on the MLS are listed north of 200k with rents in the ~600 range.
Post: How does this AC Compressor Unit Look? (picture)
- Dallas, TX
- Posts 308
- Votes 59
Sometimes it is written on the side. If not, try finding the serial number and calling the manufacturer.
Post: Help me evaluate this deal
- Dallas, TX
- Posts 308
- Votes 59
100/mo for water/sewer is way too low. I would double that number.
What about trash? Who pays for that? Any common area lights? I'd also be wary of a lot of deferred maintenance.
Post: First deal in the books, Thanks BP and DFW community
- Dallas, TX
- Posts 308
- Votes 59
That's awesome. Congrats!
Post: Thoughts on purchasing apartments in DFW right now?
- Dallas, TX
- Posts 308
- Votes 59
What areas are you looking at? Everything I've seen on MLS or Loopnet is either overpriced, in a warzone, all bills paid, or some combination of the 3.
Post: "Home prices in real terms didn't increase"
- Dallas, TX
- Posts 308
- Votes 59
Originally posted by Jon Holdman:
if you mean buying a residence, I strongly disagree. A residence is nothing but an expensive doo-dad. If you include all the taxes, etc that I listed in my first post, you almost always find a residence is a net expense. Now, for many people, it is a form of forced savings. They have a payment. They stay there, keep up with the payments and maintenance and 30 years later they have a nice asset.
While I agree with everything you said 100%, if you think of it in terms of the average person who knows nothing about investing in anything, I think "investing" in a primary residence is a pretty good idea. Assuming they have enough cash saved up for repairs/maintenance, have a steady job and can comfortably make the mortgage payments, they end up with an "asset" that keeps pace with inflation. What other investment vehicle is there that requires basically no knowledge and can keep up with inflation? Some might argue stocks or index funds but in my opinion that is largely untested over a long period of time (100+ years) like real estate.