All Forum Posts by: Mario D.

@Tim Bee depends on where you are located. I am in a very high appreciation market. So my equity has doubled on all my properties in the past few years but has tough cash flow compared to the midwest or south. I shoot for $200 - 300 door which includes my PITI.

We are looking for off market (Direct to Seller) properties. We are end buyer here.

Type of Investment - Value Add / Core+ Stabilized Multi-Family

Property Class - A, B & C

No. of Units - 40-125 units (50% 2x2 bed baths)

Price - $3mm to $30 mm

Target Markets - UT, ID, AZ, MT, Reno

Acquisition Cap Rate for light-medium value add 6.0%+, Pro-Forma Cap 6.5%+

Acquisition Cap Rate for core+ stabilized deals 4.5%+, Pro forma 5.5%+

• 1970's vintage or newer

• PM or email over T12 and Rent Roll

• Must be room for improvements preferred.

#801propbros #corgiflip #realestate

We always run the license against the state for anything to come up, confirm W9, insurance, and business license before we work with anyone. Lots of riff raft out there right now though. Referrals and spending a little bit more is worth it right now. Market is changing so we will see more of these "iffy" contractors exit the market. We use the Dopl database and state websites to check anything on them.

Also when we have a "clean up" prject we do not pay until the new contractor hits 25% of completion or change our contracts to make sure they actually start on some work, not protected all the way but at least and option. We also have liquidated damages in there depending on the size of the contract it helps.

What are profits looking like around the west on a per flip basis? Labor shortages and influx of immigration, how are you finding solution to keep growing? With influx of Large Institutional (801 Property Brothers LLC) money buying up locally in Phoenix, Boise, SLC, etc where are you grabbing your deal flow? We are glad to share what we are doing, love to hear what others are seeing out there in these marketplaces.

@Joe S. We provide fridge, microwave and in some higher end washer and dryers. We just add a fee internally knowing what we need to get to cover normal depreciation and also you can treat those appliances as such within your accounting too.

Use anyone else REI Pro, Propstream, Deal machine before batch leads I have found. I was not happy with the offering so I made a change back to propstream and they refuse to cancel my membership after 3 calls, 10 emails, so be careful there as I have become like a hostage to use the software.

@Tanner Sherman thanks

@Brandon Beatty always good to hear what is working now. We have 4-5 flips and one development usually going on at a time but we have not seen as strong as deal flow from my normal channels so wanted to see if we were

Missing anything. My market was just ranked best in the nation so lots of institutional money which has not been here before i feel like.

As a flipper and buy and hold investor…

What has been your best avenue for picking up deals?

Mail marketing

Door knocking

Cold calls

Sms text

Email marketing

Wholesale partners and investing alongside them

Just buying wholesale deals

Bird doggers

Agents

Profit share contracts

Contractors

Word of mouth

Local REIA groups

MLS write them offers like they are going out of style

Anything else please add on.

As a flipper and buy and hold investor…

What has been your best avenue for picking up deals?

Mail marketing

Door knocking

Cold calls

Sms text

Email marketing

Wholesale partners and investing alongside them

Just buying wholesale deals

Bird doggers

Agents

Profit share contracts

Contractors

Word of mouth

Local REIA groups

MLS write them offers like they are going out of style

Anything else please add on.