All Forum Posts by: Cassidy Burns

I think Harrisonburg, VA is going to be a continuous growing market in the coming years. Stick to the units with the lower condo fees and more bedrooms if you are approaching the student housing rental model. Harrisonburg, VA was also just named in the Top 10 for best first time buyers home markets as well. Lots of growth in my opinion.

Great thread.  I personally have a theory on certain asset classes that are going to see a bump, and others that are going to see a slight depression.  Because, I agree, some price points won't be able to continue to rise as quickly as they are, especially when rents are not trending with the value increases.  EVENTUALLY, those people who overpaid for assets, are going to have to move out of those assets and realize they are in a negative cash flow position, forcing them to HAVE TO SELL, or just not move and stay in them (inventory lows ) .  

When people zig, you should zag.  I think DC Condos is one of the best investments you can make right now, as long as you know the numbers / rents.  

@Chad Rocke thank you sir

@Russell Brazil I just laughed out loud at this hahaha, smart ***. 

@Diego Maramba I agree with Russel on this.  As a newbie I personally suggest staying local, getting hands on, touching the property, getting experience, and yes, capturing the less risky option of owning in a centralized market with higher equity pay down and very high probability of 1.5-2.5% appreciation.  Also, I must add, the appreciation is on the property value amount , not on the down payment. 

So if you own a $500,000 property at 2% appreciation annualized, the next year theoretically the property should be worth $510,000.  So yes I agree with Russel that ou can make larger sums of money a a quicker rate. 

BUT, people have also had huge success out of state investing, I've done it as well, but know that management is much more of a drag.

Good luck! 

@Hai Loc $550k earned income is a great and very easy way to get started with investing.  I suggest allocating %s and putting certain percentage to work.  And I agree , early in my career I was purchasing the "cheapest" properties trying to get the 2% rule, strictly because that is what Biggerpockets HYPED up .  Boy were they wrong.  Higher quality properties, higher quality areas, better tenants, better returns. 

@Yosef Lee congrats on the 68 unit! Are you buying in New York? 

@Chris Levarek awesome stuff. On my goal list as well.  Define "large"? 100+ units? 

@Amir Estimo I'm also interested in the short term rental market.  Does you market support the numbers? Highly trafficked ? 

@Elmer Glick @Reginald Ross both awesome numbers. My goal too is to add 60 + doors over 1-2 multifamily properties. I'm evaluating at 41 unit currently and a 15 unit so that could do it. BUT, that being said, CAP Rates are depressing in the multifamily space, due diligence is more important than ever right now.

@Stephen Brown I love the sound of that 8 unit purchase, easy management as well since its in same area as your Duplex 

@Michael Plante great stuff, how many houses is that in your market ? 

@Mike Celli good luck! Please let me know when you find this market!!!