All Forum Posts by: Joshua Metherd

@Dennis Tierney Thanks for sharing your knowledge. Are you concentrating your efforts in certain neighborhoods, or are you more opportunistic and taking whatever deals pop up?

@Sterling Anderson I'll send you a direct message. 

@Tyler Bain how did the move go? Did you get any properties purchased? What was your experience like? Did you end up working with Fred Tichauer, and if so, was he a good investor's agent?

I'm considering the Omaha market, but I'm still in the due diligence phase. Would appreciate any insight or personal experience you can share.

Thanks,
Josh

@Aleks Petrov What are your goals? Are you trying to create a mailing list? If so, who are you targeting? 

Where are you storing the scraped data? Do you mind sharing some info on your scraper?

@Zach Quick Thanks for the feedback. I appreciate your time and knowledge.

@Zach Quick couple more things... any idea of cap rates in this part of Kansas? What about your area?

Also, do you know if there is a going price per sq ft for new builds? I'd like to back-of-the-envelop what building 6 more units could look like.

@Sam LLoyd 

Thanks for your response. I agree that this deal using the loan terms you were recently given and at the $275k price do not make this a good investment.

To make this doable, I'd have to buy at a low enough price to have good cash flow and have clear plans to develop the remaining part of the lot.

Thanks again for your thoughts.

@Zach Quick Thanks for the help, and yes, I realize I'm underestimating the burden of management. If I move forward with this deal, I would like to be as involved in the day-to-day management (or at least observe so I don't cause my uncle unneeded hassle) to get a better idea of what managing this property might be like. 

Good luck with your 12 unit.

@Zach Quick Yes, it's just west of Fort Riley in Abilene. I've not yet been to the property, but have seen some pictures.

Thanks for the reference point on your loan. 

If you don't mind me asking, where is your 12 unit? How long have you owned it, and how easy/hard is it to keep rented?

@Allen Fletcher sorry I didn't link properly in my response above.

@Allen Fletcher thanks for your reply.

Property management expenses - I factored that into the expense section at 10% of rent. I included it even though it's free the first year and I might self manage the second year onward.

I trust my uncle to be a good manager, and I do value our relationship. Thanks for pointing out that everything has to be in writing and expectations clearly defined.

Sounds like I need to start talking to some lenders to get an idea about the rates I'd qualify for.