All Forum Posts by: Kusum Chanrai

Hi MF friends, 

Happy Thursday! I'd love some wise advice on the following. I'll start with the basic ones. 

1) Apartment rent appreciation in a city: Does anyone know a good online source for this? For a city like San Antonio or Tampa, I'd love to understand what the annual rent increase has been, and if possible, future rent increase predictions. 

2) Construction Permits: New housing flooding the market seems to be 1 of the biggest risks in the MF world right now. What's the best source to see what is being built or completed in 2017. 

3) Investing for cash-flow vs. appreciation, given the stage of the market we're in:

I was given the advice, by v experienced and smart investors, to not focus too much on the cap rate, but rather, job growth. Identify top-performing areas and invest in them, even if the cap rate is say 5% vs. 10%. The hot markets right now have cap rates of 4-5%; and are mostly in a stage of "expansion" or even "hyper-supply". 

+ Basically, how can you tell which markets are good right now, but will continue to appreciate, and won't run into hyper-supply for a long time and which will (in which case, you should just wait for the cycle to turn). 

+ Over the time-span of 10-15 years, does one make more profit investing for appreciation vs. cash flow? Or does it vary wildly? 

Thanks all! 

Hi friends! 

My husband and I are thinking about buying a MF triplex in SF in the mission district. The issue is that we have 2 rent-controlled tenants in the building. 

1) One tenant is over 60 and has lived in the unit for more than 10 years. 

2) Tenant 2 claims to be catastrophically ill and has lived in the unit for > 5 years. 

We haven't made an offer yet, and want to get an understanding of how easy/difficult it will be to legally get these tenants out (e.g. buying them out). 

Does anyone have experience with issues like this? Or know where we can learn more about options and tactics? 

Thanks all! 

Kusum. 

Hi everyone. I'm looking for a good multi-family agent in either Cincinnati or Columbus. Any referrals would be fantastic. Thank you! 

Hey friends. I have a question about multi-family appreciation:

As I compare deals in different areas, I'm trying to determine the likely appreciation rate, along with how recession-proof each specific building/area is. 

Question: Is there a specific online resource, or set of resources, you guys used to determine how much appreciation one can expect in an area, combined with how likely that building/area is likely to be hit by a property correction in the next few years. 

Thanks! 

Kusum. 

Hey guys, 

Thanks a ton for all this information. It is just so helpful. I've reached out to many of you individually, and will continue to do so. Thanks a lot! 

Hey guys, 

I'm looking at a few cities for my 1st MF - I'm hoping to keep the property for 3-5 years, and want to buy somewhere where population growth, income & job growth, and job diversity are highly likely. I was originally looking at everyone's favorite markets: Dallas and San Antonio, and Tampa and Orlando. After finding pretty poor value, I'm thinking I need to venture elsewhere. 

Does anyone know of any markets that one should consider for good MF value? 

Hey everyone, 

Love this post. I'm from SF, and had initially started looking in Tampa & Orlando, but I'm finding it very hard to find value, so think I should consider other safe and promising markets: Dallas, San Antonio, potentially Kansas. 

1) Does anyone know of any great real estate agents in either Dallas or San Antonio? 

2) What are the emerging markets to consider right now? 

Hi Brandon, 

That sounds great. Thank you! I'll message you. 

Kusum. 

Hey friends! 

I'm a new investor (very green), and I'm thinking about putting an offer on the following property. It seems quite "safe", albeit with minimal value add. 

1) Any advice how to determine the value of your first offer? 

2) I'm NOT in the area, but am very interested. Is an LOI sufficient if I want to stay in the running. I've been advised to go straight for an offer, but I'm not ready for that.

3) The area seems v. promising. Strong schools nearby, 20m to downtown Tampa, However, according to BestPlaces.net, the crime rate is very high. What's the best way to evaluate that further? 

Thanks in advance for all the help! I really appreciate it. 

The Oaks. 

Typical leasing commissions that I've seen are 4% of total base rent (or 6% if there's a co-broker), possibly with a minimum amount (say $4/sqft).