All Forum Posts by: Stephen Moore
Stephen Moore has started 29 posts and replied 236 times.
Post: Saver with an Investing Problem
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
Originally posted by Michael R.:
Micheal,i know this is a old thread but how have you been buying your properties financing wise,and do all of those cashflow as well?send me a colleague request
Post: Where to look for Multi-Family?
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
get on loopnet,and the brokers/agents that have those deals call them up adn ask them to set u up on a email alert system,these are the agents with the deals,u can also call up local offices and ask to speak with the commercial agents
Post: Ideal apartment complex size for a new investor
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
new to apartments not to real estate,and the scenario did run across my mind before as well,
Post: How to finance an apartment complex?
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
Originally posted by RobTheHouseGuy1:
You can absolutely pull it off. You need to stick with the smaller buildings. I have a prospect to call tomorrow that has a 4 unit building with only one unit rented. the payment is around 1700 per month. I can get it no money down, but the cash flow is not gonna really be there. It will only bring in 2400 per month on a perfect day before vacancy an repairs. You will get your best deal working with a cash partner and stealing good deals.
An example I saw of that a couple of weeks ago, my buddy bought a 29 suite for 25k! Sure it needs a little love, but it was a steal!!!
There are a lot of "tired" landlords of mid size buildings that will let you take them over.
Just remember, bad deals are like HERPES, easy to get, and impossible to get rid of! LOL! Good luck! :mrgreen:
These tired land lord deals u speaking of,are u listed or off market? and would u pursue these as sub2 deals or what?
Post: Ideal apartment complex size for a new investor
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
i didnt necassarily mean that their steals on there but that i get from being on various brokers email alerts list that i have set up on.I do need to work up on educating myself on some things more as well though.
Post: Ideal apartment complex size for a new investor
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
Well my first is going to be local until i get the hang of things,then i'm going to venture out for the deals that i know of in other areas,yes i do have a lil bit of experience in. Yeah you're right about the big goals. I'd rather do things myself and then hire a pm to make sure im not getting screwed out of anything cause of the landlords that own apartments that i talk to on a daily basis tell me about how they are getting the deep end of the stick by these shady guys. Managing a rehab wouldnt be new to me as well.
Also reason i said turnaround project is because i know thats where the real discount deals are.Thanks for the good advice Bryan and everyone else as well
Post: Ideal apartment complex size for a new investor
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
Yes i do have a lil bit of time in real estate,just not owning any apartments,I do have some cash as well,but would leverage opm to finance any project. I look on loopnet at deals all the time and wondering to myself coudl i pull the trigger or one of these steals,but i dont want to overwhelm myself basically.
Post: Ideal apartment complex size for a new investor
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
What would be a typical apartment complex size for a 1st time apartment investor,sizes of maybe 30 to 50 units,im thinking maybe a turnaround project thats vacant? looking for any and all suggestions as far as property managers,etc.
Post: Good Mobile Home Deal
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
Originally posted by Robert Burns:
as far as finding cheap mobile homes,call up some mobile park owners and mobile home owners as well as tell them you're looking for cheap ones to buy,you should be able to come up with something,some will need alot of work,some wont
Post: Need suggestions for networking contract among wholesalers
- Real Estate Investor
- Lake Charles, LA
- Posts 271
- Votes 52
sign a flex option agreement as you have stated and thats only for the direct sellers,do this for every single property(at least i would) also some wholesalers like to mark up other wholesalers properties to try and get a bigger payday,my opinion is it makes you look kinda dumbfounded when the same buyers get the same deal at different prices.Keep the price the same and if the deal is priced right you should be able to unload the deal