All Forum Posts by: Chad Olson

Did this property end up selling? If so, what followed?

Existing townhome development. 

 Oops. Forgot to add "under contract".

Looking at putting a 72 unit townhome development. Price hasn't been nailed down yet, but will likely be in the $20 million range. What would an acceptable CoC would look like for a property like this? I've calculated it anywhere from 6% to 11% based on management fees (or self-manage) and a small variation in rents (from $2000/month to $2250/month).

Thanks for your input.

Depends on what you are looking for. If you're looking for cash flow, the Midwest is full of small to midsize town where you can find 1% rule properties (and occasionally 2% rule).  BRRRRing can be a little dicey with the cost of supplies having risen exponentially; even so, there are abundant opportunities in college towns throughout Minnesota and Wisconsin. 

I'm an investment-minded agent located in Minnesota. There are currently opportunities both on and off-market for single family and multi-family investment properties in mid-sized cities in and around the Minneapolis-St. Paul metro, and I'm looking for investors with experience in student rentals, mixed-use commercial/residential properties and small(er) multi-family portfolio acquisitions.

What is the best manner in which to find and cultivate these relationships? I'm getting involved in the local REIA, I have started reaching out to other local landlords/ownership groups and I have started networking within my personal sphere; I'm looking to scale my pool of buyers and investors and I feel like there has to be a more efficient manner. Any advice? Thanks!