All Forum Posts by: James Knight

This is a fast moving market, this multi family is on the market and might be a bit overpriced. Based on my analysis it appears to be a good deal though. Can some veterans share their insight and eyes and confirm if this is sufficient for a self managed property with hopes of refinancing out of the rate when the world gets back to normal.

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@Brandon Boogren yes, we decided to purchase this property, got it at a good price for the area ($154,000) the property. The current rental price for the property is 1650, so we are cash flowing around 450 a month on the unit. The unit is if sold on the market right now would get around 188-190,000 as well. So all in all it was a good investment for us.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $154,000
Cash invested: $10,000

3 Bedroom, 2 Bathroom Townhouse.

What made you interested in investing in this type of deal?

The school district near me makes it a no brainier for entry level rentals, lots of people looking to relocate to get their children into better schools.

How did you find this deal and how did you negotiate it?

I bought it from my former neighbors. They were looking to move off the grid in Alaska and wanted to get out of town fast.

How did you finance this deal?

Conventional 5% down mortgage.

How did you add value to the deal?

I've remodeled a lot of the property on my own, so this is my value added contribution.

What was the outcome?

Looking to get the property rent ready to have ready for Summer 2019.

Lessons learned? Challenges?

Do a more thorough inspection on the property and it's appliances (hot water heater, a/c unit).

I am evaluating several commercial real estate deals involving medium size apartment complexes near some colleges. The property is listed at 699,000 and is a 16 unit complex. The GRM is an 8.03 and the property is in need of some renovations. I'm trying to figure out the best way to determine the CAP rate in the area. The property is in Hammond, LA. Any and all help, tips, information, reading materials would be greatly appreciated.

Thanks in advance. 

@kimberly Jones I work in the Lower Nine and every day on my commute I consider how much the area needs investment. Even if it were a buy and hold strategy targeted at section 8 renters I believe it would eventually pay off. We both know that property is the one thing that New Orleans isn't gaining any more of. I would consider it a better option than taking a risk in New Orleans East. What are your thoughts on the rental situation. And is New Orleans a tennant friendly environment or a landlord friendly one?

Hi all,

My name is James and I'm 26. I've just recently been exposed to the bigger pockets community through listening to Rich Dad Poor Dad via an audiobook on YouTube. I'm extremely interested in getting started in the Real Estate world and am ready to roll up my sleeves and kick this socially acceptable 20 yr trudge to the senior center. Look forward to learning as much as I can and networking with as many of you as possible. Cheers!