All Forum Posts by: Noah McBride

I have a property that is 1.27 acres that is 190' x 400' with 400' of frontage. My question is what would you do with this property? 

It is zoned commercial, has water and sewer on a road with 27,000+ cars per day. The market price for lease terms is $25-$30 per sq ft. 

Hey everyone! I have been struck with a business idea that is nowhere to be found in my marketplace and the closest competition is hours away. I am curious / looking to connect with people who have experience in raising money for land acquisition and development. 

@David Monroe The average comes from taking out the outliers that skewed the rent roll. there are only a couple that recently got bumped up to $900-$950 a month. The owner is very inconsistent because people are paying $650 for the same apartment as someone paying $900. Like I said I'm still very knew to multifamily so I want all the help/advice I can get when it comes to analyzing and buying a deal

@David Monroe Thank you for your input, The property was built in 2006 and is in very good condition on both inside and out. The vacancy is 6%. The neighborhood is in one of the top in South Carolina and is located 8 minutes from the High School. They claim the owner desires to sell in order to be able to move out of the country. Tenants pay all the expenses. Rents are low, the average is $700 and the going market rate is $950 for the same style apartment. I believe the owner neglected to properly grow the rents, but this would not be my first property, but would be my first multifamily.

Hey everyone,

I am still new to the real estate investing game, but I have been indulging myself in it for a couple years and I feel like I have an opportunity I don’t wanna pass up. My question is I found a multifamily complex of 10 duplex’s where they are asking for 2,000,000. I got the rent roll, but am waiting on the P&L. I feel their evaluation isn’t too far off, but the rent roll is $17,800 a month. How should I go about offering a deal that makes sense and how do I fund it?

@Corby Goade I do agree the possibility is at any rental property. Is it more susceptible to repairs if the units are ran on window units?

@Stephanie P. This property is in a good location in regards to my schooling and my job so I definitely like the idea of house hacking. Is it possible to acquire other rentals while house hacking or does it make it more difficult to transition until the two years are over?

@Jack Bobeck The property is pretty sound, but it could use some curve appeal and I worked for a rather popular landscape company during the summers while I was in high school so I can fix the property's appeal on my own. However, there is plenty of area in the back yard for some storing units so I will definitely look into those and the furniture. Thank you for your advice!

@Eric C. I have looked into FHA. The is my last go to because it does narrow the cashflow which means any major repairs like a broken A/C unit would have less cushion, but I am open to the idea. I was just looking for an alternative option before jumping into that.

@Salvatore Lentini thank you for your reply. I have access to 5k to 19k for a down payment and the property cost $280,000 and I believe I could get the seller to come down a little. I had a brief information with my post, but I haven't worked for long so I haven't had a tax return. My credit score is above 650.