All Forum Posts by: Clinton Holmes

Happy Sunday everyone! 

I'm looking for advice for how to acquire a second property in Massachusetts without having to put 25% down. Has anyone done it that might be willing to offer some guidance? 

Thanks in advance for the help!

Clinton

@Chris Seveney The 128 analogy is perfect hahaha. Thanks so much for the help. 

@Stephanie P. I'll definitely check out Richmond. 

@Adam Schwartz

@Adam Schwartz and 

@Bo Goebel

Thanks for giving me a better idea of the areas. 

Based on what everyone is saying, it sounds like Metro DC is going to be the place for me. I'll continue to look into other parts of VA and MD.

@David Park Excellent advice. I will definitely take a look at the Colorado Springs area. Do you know how military personal find apartments? Is there someone at the base that helps find housing or is it entirely up to the personal and their family? 

@Linda Weygant Thanks so much for the detailed response. I'm going to put all of these cities on my list of places to research. If I decide to move forward on any of these, I'll need a good agent in the area to help me look. Can I come back to you for recommendations when the time comes? 

Thanks so much!

Clinton 

Hi Everyone!

I’m an out-of-state apartment investor looking for some help. I need to branch out into a new state, and I’m doing some research on the Colorado. It looks like it could be a good fit for me and my investors.  Below are the criteria I’m looking for in the property:

• 5+ Units
• Purchase Price between $800K and $3M.
• C-class properties in B/C neighborhoods
• Light rehab (no full guts or extensive deferred maintenance)
• Reasonable price. I don’t need home runs, I need base hits and doubles.
• Less than a 45 commute to a major downtown area.

I’d love your help answering the following questions:

1. Which city / market would you start your search in?
2. What are some of the potential pros and cons of the cities I’d mentioned?
3. What’s the price range per unit in the area?
4. What’s the rent range per bedroom in the area?

Thanks in advance for the help!

Clinton

Hi Everyone! 

I thought I'd add on to this thread rather than start an entirely new one. I'm an out of state investor that also needs to branch out into a new state. I went to about 6 months back and loved it, so I'm thinking about making TN my new market. Below are the criteria I’m looking for in the property:

• 5+ Units
• Purchase Price between $800K and $3M.
• C-class properties in B/C neighborhoods
• Light rehab (no full guts or extensive deferred maintenance)
• Reasonable price. I don’t need home runs, I need base hits and doubles.
• Less than a 45 commute to the downtown area.

Some areas I’m considering include:

• Knoxville, TN
• Chattanooga, TN
• Memphis, TN
• Nashville, TN (even though I'm worried prices have already run too high)

I’d love your help answering the following questions:

1. Which city / market would you start your search in?
2. What are some of the potential pros and cons of the cities I’d mentioned?
3. What’s the price range per unit in the area?
4. What’s the rent range per bedroom in the area?

Thanks in advance for the help!

Clinton

Thanks for the re-direct @Lane Kawaoka. 

@Ryan Gibson Are you active in the D.C. / Virginia market? 

Hey guys! Thanks for all the feedback. Some specific follow-ups below. 

@Ray Slack What areas of MD do you think would have more B/C areas? I'd rather have higher cashflow, and lower appreciation. The lowest I'd probably go is 4%. 

@Russell Brazil When you say price point, do you mean purchase price for the asset? If so, I'd be looking for something between $1-3M. 

@Account Closed Baltimore huh? I'd love to know more.  

Thanks again!

Hi Everyone!

I’m an out-of-state apartment investor looking for some help. I need to branch out into a new state, and I’m doing some research on the District of Columbia. Below are the criteria I’m looking for in the property:

• 5+ Units
• Purchase Price between $800K and $3M.
• C-class properties in B/C neighborhoods
• Light rehab (no full guts or extensive deferred maintenance)
• Reasonable price. I don’t need home runs, I need base hits and doubles.
• Less than a 45 commute to the downtown area.

Some areas I’m considering include:

• Alexandra, VA
• Arlington, VA
• Reston, VA
• Annandale, VA
• Gaithersburg, MD
• Potomac, MD

I’d love your help answering the following questions:

1. Which city / market would you start your search in?
2. What are some of the potential pros and cons of the cities I’d mentioned?
3. What’s the price range per unit in the area?
4. What’s the rent range per bedroom in the area?

Thanks in advance for the help!

Clinton

Hi Everyone!

I’m an out-of-state apartment investor looking for some help. I need to branch out into a new state, and I’m doing some research on the District of Columbia. Below are the criteria I’m looking for in the property:

• 5+ Units
• Purchase Price between $800K and $3M.
• C-class properties in B/C neighborhoods
• Light rehab (no full guts or extensive deferred maintenance)
• Reasonable price. I don’t need home runs, I need base hits and doubles.
• Less than a 45 commute to the downtown area.

Some areas I’m considering include:

• Alexandra, VA
• Arlington, VA
• Reston, VA
• Annandale, VA
• Gaithersburg, MD
• Potomac, MD

I’d love your help answering the following questions:

1. Which city / market would you start your search in?
2. What are some of the potential pros and cons of the cities I’d mentioned?
3. What’s the price range per unit in the area?
4. What’s the rent range per bedroom in the area?

Thanks in advance for the help!

Clinton

Hi Everyone!

I’m an out-of-state apartment investor looking for some help. I need to branch out into a new state, and I’m doing some research on the District of Columbia. Below are the criteria I’m looking for in the property:

• 5+ Units
• Purchase Price between $800K and $3M.
• C-class properties in B/C neighborhoods
• Light rehab (no full guts or extensive deferred maintenance)
• Reasonable price. I don’t need home runs, I need base hits and doubles.
• Less than a 45 commute to the downtown area.

Some areas I’m considering include:

• Alexandra, VA
• Arlington, VA
• Reston, VA
• Annandale, VA
• Gaithersburg, MD
• Potomac, MD  

I’d love your help answering the following questions:

1. Which city / market would you start your search in?
2. What are some of the potential pros and cons of the cities I’d mentioned?
3. What’s the price range per unit in the area?
4. What’s the rent range per bedroom in the area?

Thanks in advance for the help!

Clinton