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All Forum Posts by: Konrad Gessler

Konrad Gessler has started 2 posts and replied 6 times.

Hey BP community! I currently self-manage three properties in the Atlanta metro area and have learned a ton through trial and error over the years. I’d love to hear from fellow self-managing landlords about the biggest lessons you’ve learned along the way—whether it’s handling difficult move outs, maintenance strategies, or unique ways to streamline day-to-day operations. I’m happy to share my own tips and experiences as well. Drop a post on this thread if you're interested in a quick call to share learnings. I'll DM you to set it up

Hi Everyone,

I am an investor with a few properties in East Point. I'm based in New York City and will be in Atlanta over the next couple of days to put the finishing touches on our latest house. While in town, I'd like to meet other investors to learn from their experiences and share my own. My background is in the tech industry and I'm a Certified Management Accountant. I'd be interested in learning about other investor's strategies, the types of financing they use, and the returns they are seeing in Atlanta. Feel free to send me a message if you are interested in grabbing coffee and meeting up!

Originally posted by @Stuart Fox:

I'd get on Zillow, find several homes that look like they have potential and start calling the Realtors associated with the listing. These are agents that work the zip code associated with that home. I'd also call property management companies asking about areas in Detroit that work for out of state investors that want to have rentals. Finally, connect with Detroit investors online here on BP, Connected Investors, Facebook and similar networking sites. You'll want to work with a turn-key company most likely. Talk to a lot of folks and get as much local data as possible. Remember that, for the most part, the cheaper the home and the higher the cap rate - the more likely you'll lose money on the deal. Be very careful of investing in C & D class real estate.

Stuart Fox

West Coast Cash Buyers

Hi Stuart. Can you please elaborate on this; "Remember that, for the most part, the cheaper the home and the higher the cap rate - the more likely you'll lose money on the deal." Why is this the case? 

Thanks @Matt R.. Correct me if I'm wrong, but I think you're saying that factors external to the CAP rate can have a larger impact on overall profits because they drive appreciation and rental income.

And can you define "comps" please. 

@Matt R. Thanks for the comment on valuing single family homes. What did you mean when you said "the lowest caps sfrs might actually be the most profitable"? How do you value single family homes? Would like to learn more.