All Forum Posts by: Frank D.

I would be looking for a different property management company as soon as possible. I would also be traveling to the area once a year to do my own walk-throughs. You've indicated you live in Kansas and the property is in Missouri, that should be a manageable trip to take once a year, walk through, inspect all of your properties and be present. To me, the property management company is taking advantage of you being absent. Scheduling a walk-through once a year will cause both the management company and the renters to be on alert. 

I got myself ready, I read all the books, I opened an LLC, I set my criteria, I have a realtor. the only think I don't have is a house! I've made several offers at asking price, even offered cash. All rejected. First world problem I know but I am super deflated! Is this me or the market? What do I do next??

LOL, reading through these responses it would appear that the hardest part of flipping is acquisition, due diligence, budgeting, dealing with contractors, negotiating, psychology, financing and well, all of the parts of flipping. 

Hey BP,

I am in Niagara, Canada and have been looking at small multi family homes to add to my real estate portfolio but am in a very competitive market. Lots of money is coming down from the Toronto area and buying up properties at way over asking. Sometimes 50-80k over! I have offered on two properties in the last month and offer over asking for both and lost both properties by 20k and 35k. I don't understand how people are paying so much for these properties when CAP rates over 3 or 4% are rare. Are there any local investors out there actually getting decent cap rates?. I have considered investing on the east coast, but not sure I am ready for that yet. I thought I had my market narrowed down to small multi family but now I am bouncing all over the place , STR, out of province, etc. I Feel like I'm lost. Who else out there is having these types of problems? Any help would be gladly welcomed. Cheers