All Forum Posts by: Gabe G.

@Account Closed There are a million places in the US where you can get a 7-9 cap. The key is finding an invest-friendly real estate agent to help you vet the market and a solid property management company that can execute on your business plan. A cap rate is simply a projection on a spreadsheet until you make it happen. 

The company I work for (Home365 Property Management) is the only PM company in the world that both guarantees you collect 100% of your rent AND pays for your maintenance and turnover costs. Look us up!

Of course I am bias, but I would recommend looking to purchase in a metro where our company is located (we're in Detroit) and your income stream is guaranteed. I know it sounds crazy, but google us.

@Maria Quelix Congrats! Good work. Wait to go!

@Kyle Coniker I looked up your company's website and it doesn't say anything about investment loans. Do you guys provide these? I'm considering the lunch and learn, but would value having more about the content before committing. Can you help here?

@Eylon Toures JT and Son Construction is a very solid GC in the Pittsburgh area. What kinda of projects are you looking to do? That will help me make other recommendations. 

@Travis Sterner Propstream is an unbelievable tool. Worth checking out.

Hello @Jim Fredo,

Unit counts 1-4 are actually considered single family homes, and are not commonly appraised using the income approach. Income approach is limited to commercial properties which begin at 5 units in residential. I've been investing for 10 years and have not come across a lender who uses the income approach for under 5 units. I would love to be wrong, so if you find one, please let me know.

All the best!

Gabe

Hello @Nicholas Fehr,

In my experience, hiring a firm to perform a cost seg study often doesn't make sense unless the building is several million $$s. There are companies that have automated the cost-seg process for smaller properties like you have. You can do a simple google search for diy cost seg studies. One I interviewed, but didn't end up using because we lost the deal was KBKG (https://www.kbkg.com/costsegre...). 

Hope this helps,

Gabe

Hey @Lou Lanton! It really depends on the types of properties you are buying and at what scale. If you are buying residential properties on a smaller scale (less than 50 units a year) then going with a local GC will be your best bet. National GCs will likely cost you an arm and a leg and won't even be interested in working with you unless you are buying at scale. 

Also, don't be afraid to pay fees if a vendor/partner adds value. If you hire a GC, they won't do all the work, but they will likely charge higher fees than your PM companies. PM companies charge fees when they fill the GC role because they cannot devote manpower to manage your projects for free. 

If you go the route of a local GC, often they will look for off-market deals on your behalf so that you keep them busy.

Hope this helps!

@Gerard Fox Go to every investor meetup in your area that you can find! You will be amazed in a few months how many new people you know and how many people want to help you succeed! Network = Net Worth.

Hello @Andrea Lane where is the in-person networking event being held?