All Forum Posts by: Julie Noone

Thanks, Jonathan. That's very helpful and kind of what I was expecting to hear. 

Wondering what others think about investing in Rapid City now (2021) re: economic development and future appreciation. There's some expansion happening on the air force base I'm told, but not sure that will happen in current administration. Thanks for input.

In 20+ years of investing in the Denver and front range markets, we were never certain it was a good time. If the economy was booming, were we buying at the peak? If the economy was failing, would it get worse? (I can remember a time we went 5 months with a vacant rental.) We invested what we could with the money we had at the time and then worked hard and hung on long term. Now I wish we'd taken more chances earlier on. :)  Good luck to you!

The cap rate on the property is 7.3%, before financing expense. So, yes, the price is too high. But It is an unusual property: desirable area, no deferred maintenace, long term tenants, a waiting list to get in (55+), and leases are structured where tenants incur greater expenses (snow removal, interior repairs including appliances).  The 4% is a from a high net worth investor who wants to park some cash for a few years.

We let this one go though. Thanks for the input everyone!

I've listened to podcasts about using other people's money for RE investments, but once I figure loan payments, we can't make the properties cash flow well without more free and clear cash. Example: $990k 9-plex, gross rents are $7000/mo with room for growth, minimal expenses. It's a better than average deal in terms of turn-key, location, etc, and I realize we're below 1% to start. $90K cash, $500k from a comm lender at 7.2% + 2pts, $400k private lender at 4% no fees/expenses. Once I figure loan payments, it cash flows at about $275/m. With 6-8% rent increases over 1-2 years, we're at $580/m. Hardly seems worth it. It definitely works better if we get all private lending at 4% (that'd be nice). Maybe we're not finding the right kind of "other people's money?" Thanks - appreciate your input.

Looking for recommendations for foundation inspection in Pueblo, CO. Thanks!

Looking for recommendations for property management in Tacoma/Puyallup, WA for single family. Thanks for input. 

Sorry about that, Mike. I have run across some that have said will do the rehab  and/or manage the property for clients if they already have a property (not in Indiana though). 

HI Larry, 

It's a small duplex located in Lawrence. It is currently under contract due to close around Apr 21. 

Hi - We're looking for a current referral for property management and/or turnkey company to help with light refurb on a duplex in Indianapolis. Thank you for input.