All Forum Posts by: Jack Martin

Diem Tran there are absolutely properties in Arizona in the 9% CAP range. You will not likely find them listed though - properties like that trade privately. If you would like to see deals like that, I would be happy to assist. Shine on, Jack Martin

@Diem Tran  I would echo what @George Pappas is sharing.  Consider the idea that a good property manager will not only save you time and money, they will also bring experience to the table that may prevent you from buying a problem property.  I completely agree that if a property has to be self managed to be profitable, it is not a deal. 

Shine on,

Jack Martin

It is a thin concrete-like waterproof system used over wood. It is far superior to any roofing or walk deck system we have tried. Go watch a YouTube video and it will make sense. The strength is unbelievable. Shine on, Jack

Agree with Steve Olafson as I have gotten listed property at a much lessor price due to a change in seller motivation. However, a lot of properties are sold without a listing on any platform due to broker networks. I sell most of my own properties without listing them either as I have a private network of serious buyers who usually jump on it. Shine on, Jack

We use a product called Pli Dek. It is completely waterproof, unbelievably tough, and can be finished in a variety of ways. Will hold up to weather and can be flooded in just a couple hours. Check it out on YouTube. There are a host of installation videos done by contractors. Shine on, Jack

Matt Skinner I have a nice C+ 18 unit property in Arizona available right now, running just under a 10 CAP on actuals. Area is about 8 CAP. Shine on, Jack

@Steve Olafson  I am in the Phoenix market as well and would agree there is a high demand for apartments from the investors we work with, both for buy and hold, and for value add fix and flips.  I get trend opinions from both sides of the fence in the network of players I associate with, but most tend to agree that there is an upside to the Phoenix market still.

Shine on,

Jack

Casey Rolland The answer depends on your investment goal. If you are trading out of SFR into MF for the sake of riding an appreciation wave, then the advice given by Paul Timmins is spot on. However, if you are buying for a long term income, then as long as you meet your CAP objective, an acquisition in today's market should be fine. With that said, it is always prudent to evaluate the market to determine your exit strategy, should that become necessary. Shine on, Jack

@Michael Yin The more you can provide, the more likely a buyer can come to a decision quickly. We provide everything we can on the property to include a basic deal abstract, the financials, comprehensive photos, recent work done, HOA detail if applicable, and any other supporting info that could assist the buyer.

Really, what we attempt to do is drill the deal as tight as we can so the buyer doesn't have to do all that legwork.  My advice it to be as transparent as you can with your DD and expose everything you find.  Your reputation as an honest wholesaler will be there long after one deal is done.  

Shine on,

Jack

@Account Closed  Welcome!  You will certainly need to have trustworthy folks on your team in the market you choose to invest in.  I would locate other investors who are trusted in that market, as well as brokers and property managers.  A really good resource will have connections to everyone else you may need including lenders, repair solutions, title agents, and more.

Keep in mind, you are going to have to trust someone at some point and everyone could possibly have a self interest in your working with them.  i.e; A broker gets paid if you buy property.  A property manager gets paid if you have property to lease.  A local investor may get paid to find you deals that make sense for you.  

Bottom line is not to ignore your gut instinct.  If you feel like there is an ulterior motive, move on until you have a sense of comfort with the people you are about to extend trust to.  And don't go all in immediately.  Buy one property and see how it goes.  Then buy again.

Shine on,

Jack