All Forum Posts by: Cody M.

I have considered this, also the thoughts of putting nicer finishes in our quadplex to somewhat compete with the new luxury apartment minus the amenities of course, seeing if we could slightly drive up rents. The luxury apartment rents aren't cheap specially for the midwest so maybe there's a silver lining, it is also near a very good hospital so there is high income and a growing area. 

KCK, 

Rents for the apartments are roughly:

APARTMENT:.                       QUAD: 

Studio: $1800                       2:1: $1,300-1400

1/1: $2,000                          3:2: $1500

2/1: $2,600

2/2: $3,000

Hello all, 

Looking at purchasing a quadplex in a B neighborhood. The location is great—near the city and hospital. We should be able to hit the 1% rule on this deal.

The only thing I’m curious about is a very large, newly built luxury apartment complex is opening within a mile in the next few months. It has every amenity you can think of—gyms, yoga classes, self-study offices, etc.

Is there any reason this could affect the quadplex in the future? Not sure if anyone here has any insight or has been through something similar.

Thank you 

Cody 

Having thoughts putting an offer in for a car dealership lot in the intercity (Class C neighborhood) that I would like to lease long term NNN. Has anybody had experience with doing one and the results?? Demand, quality of tenants, etc.
According to my analysis should give a 12% CoC return but this is my first commercial property purchase just like some insight or if I should pursue other forms of commercial real estate.

Thank you in advanced. 

That would be great! Thank you so much Virginia! Yes I chatted with Gary, great member of your team! 

It was an auto dealership but thank you i will look into that!

Hello all! 

Wanted to start a thread and hopefully gain some insight into folks who have purchased automotive dealership lot/store fronts and leased them out? I've only dealt with residential at this point but am looking into self storage and on my search for commercial I stumbled upon a car dealership property where the owner is moving out of state and motivated to sell the property. Ideally he will be stay there for 10 months and lease the property from the new owner while he gets ready for his move. 

Has anybody leased out a car lot before? It is equipped with the following: 

- Office 

- 2 mechanic bays with lifts 

- 1 bay for mobile detailing 

 - Car lot for 70 cars 

Lot of ideas go through my head but figured i would reach out to the BP community. Maybe renting it out to a dealership and using NNN leases after his 10 month? I haven't made any deals yet in the commercial space yet so any advice would be appreciated.

thank you in advanced 

Cody 

@Chris Seveney I love this answer. Absolutely agree, lot of protection buying long term. 

Hello all!! 

Whats everybody's thought on the future of REI in general especially in the midwest?? Always funny hearing statements about the "bubble" popping and house markets crashing, etc. How do you gets feel? Hard to predict the future but this is reality after the election?? Not worried as I'm still buying Real Estate and but thought would be neat to ask and see other investors mindset on the future of the US RE market conditions.

Thank you!

Thank you Alex!