All Forum Posts by: Mike Homan

@Yvette Valencia. What city are you investing in ? I bought some $10,000 homes in Illinois. I believe this was a gade F area. Things were good until my property manager quiet and the new property manager won't go into the neighborhood to collect rents without somebody with her. I wanted to buy affordable housing but I think went a far. I'm also looking for other areas to invest in.

@Jack Medford What kind of cap rates are you seeing on grade C single family homes. I been buying properties in Peoria Illinois . I was going for the grade D properties. On paper I am at a 20% + cap rate. I'm picking up 3 bedrooms for $20,000 Getting $600 on rent. I have since change my strategy and I'm gonna step up to grade C and B properties I've had trouble on collecting rent .With these grade D properties. The ones I have on section 8 pay like clockwork. I wish I had them all on section 8.

@Bob Prisco Hi Bob what kind of a cap rate are you getting. What's your appreciation .

@Aviv Berkovitch. What kind of Cap rate are you seeing in Indianapolis as an average ? Is there any appreciation in that market ?

@John Williams What kind of Cap rate ? are you seeing for a single family entry level home . I'm looking at some packages of homes at a 17% cap rate in Illinois.