All Forum Posts by: Daniel Heverling

@Account Closed

Bob,

I appreciate the information and you have some excellent thoughts. Have fun down in Hawaii :) 

Dan

@Account Closed

Bob,

Thank you for the response. So if I understand you right you are saying that it really does not matter as much about the metrics in Bellingham because prices are high in general because people really want to live here?? And the more important issue is whether a top is in and prices might start going down. I think that prices will go down during the fall and winter, but then prices will keep going up because vacancies are expected to stay low for the next couple of years since the younger generation tends to want to rent versus buy...

Dan

I am facing a dilemma and I'm sure others are facing this issue too. The issue is multi families are getting very expensive because vacancies are so low and the market is red hot for multi family properties.

I want to buy a fourplex or triplex in my area of Bellingham, Washington. I'm going to live in one of the units and rent the other units out because I'm using a VA loan, so I get to take advantage of zero down.

The problem is that I'm in an expensive marketplace. I have ran the numbers every direction and most every property in the area violates the rules on this site (50% rule, etc) The cap rates are low 6s and the gross multipliers are well north of 10.

So what to do is the issue. Do I just wait on the sidelines because the prices are too high or do I jump in and take advantage of the low interest rates? I am not going to buy in another city because I want to live in the place.

Any thoughts??

Dan Heverling

@Brandon Turner 

Brandon,

Thanks for replying to my introduction! I have been reading a lot of your articles and posts and I'm very impressed with how well you have done. You are welcome for the shout out.

The marathon is such an intense and grueling challenge. It pushes a person both physically and mentally to their breaking point. I was glad when it was over and happy to succeed with it...haha.

I will let you know if I need some help :)

Dan

@Scott Price

Thanks Scott. I'm trying to get started the right way...haha. I will let you know if I have any questions.

Dan

@Michele Fischer

Michelle,

Brandon does seem like a legend, I have never met him, but look forward to someday. He seems like he is very smart and successful. I will let you know how things progress with purchasing my first multi property.

Dan

@Kevin C.

Thanks Kevin! I agree with you that this is a great place to be. See you in the forums.

Dan

@Jon Huber  Thank you Jon. I'm excited that I just finally figured out how to mention someone..haha. I will get involved.

Have a great day!

Thank you James!

@Allen Black

Thank you. I'm excited about learning of all this site has to offer and to connect with people.