All Forum Posts by: Austin Fruechting

Originally posted by @John Woodrich:

Originally posted by @Austin Fruechting:

I can understand that and have used a similar tactic and often make offers sight unseen. HOWEVER, I would take an hour to figure out market rates, condition to know approximate expense ratio, know what to plan on capital expenditures, and know what as improved rental rates and expenses associated with that would be. I hope you did that, but your first post didn't really convey that.  

You can do all of this in an hour??? On a 28 unit???

If it's in a market I have researched prior, absolutely... and there's no way I put an offer in on anything unless it's the market I have researched and want to be in. I've analyzed properties enough times to know what expense ratio to apply based on knowing it's location, condition, and current rents. 

Then a few quick searches on sites like apartments.com, rent.com etc can quickly show how the current rents compare to the market rates as well as if there's an opportunity for value add. And then I've done enough rehabs to know the cost range to expect as well as cap-ex costs. 

@Jordan Moorhead @Andrew Syrios @Garrett Diegel - Thanks everyone! 

That's an INCREDIBLE deal!!!! 

Although I think your cash flow number is very optimistic. 50% rule would put it cash flowing ~$750 per month... which is still unbelievably AWESOME for an $80k property.

Well done!!

You need to look up your landlord laws in regards to what you can and can't do with the security deposit. Most states require that they be in a separate account. If you invest them in a different manner and something happens you could be in a seriously vulnerable and liable position. 

Originally posted by @Samir Shahani:

@Austin Fruechting

Thank you Austin.  Always love learning from you.

Want to partner on some deals? ;) 

Thanks for checking it out and I hope I can provide some value and insights to people!

Anyone else interested in going?? 

Let's make it a party! 

I can probably make it shortly after 8:00

Originally posted by @Anthony Gayden:

Austin Fruechting

Congratulations on the podcast. I love that there are so many Kansas City based investors who are featured there.

I'm originally from KCK and I love the area.

 Thanks Anthony! Yeah KC is a great town and we love it as our home base.

Well, it happened. Happy I didn't sound too awkward, lol. 

Check it out! Episode 239 - Listen Here

If you do listen and have questions, pop back here and ask me anything. 

Cheers!

I would not sell for a 1031 unless I knew what I was exchanging it for. If I found a deal I wanted to do, then I would sell and 1031. Otherwise if I was going to sell, I would pay my taxes and then wait for the right deal rather than forcing a 1031. Selling and then rushing into a new deal just to avoid some taxes could hurt you in the log MUCH more than paying those taxes would. This isn't just my opinion, the VP of commercial lending I work with has seen previously successful investors end up with a mediocre or losing property just

I can understand that and have used a similar tactic and often make offers sight unseen. HOWEVER, I would take an hour to figure out market rates, condition to know approximate expense ratio, know what to plan on capital expenditures, and know what as improved rental rates and expenses associated with that would be. I hope you did that, but your first post didn't really convey that.