All Forum Posts by: Aaron B.

+1 @Michael Le.  It is a different ballgame than SFR. I got my start in MFR by targeting areas where my client had interest, compiling a list of properties within that area, and then relentlessly calling every owner to gauge their interest in selling. The money is in the follow up. So, follow up is paramount. Make calls everyday, and you will find a seller. 

What's your preferred Dayton zip, if you don't mind sharing? 

$240k is priced to perfection. The MFR in that area is currently at 115 GRM. But duplexes can get away with 120, so I can see the $240k. 2-bed/1-bath units immediately south (Croslin/Twin Crest/Duval/Carmen) are getting in upwards of $1250/mo in rents. Croslin Court (300 Croslin) 2-bed/1.5-bath units are pulling $1375/mo. Last I checked (Q4 2015), Austin Investors Interest had $/SF rent rate at $1.29 for this area.

I sold 3 of those 4plexes, off-market, 2 on MLS (Duval, Croslin), have one on Twin Crest that is pending off-market, and will list another on Carmen this week for $485k. We're pulling $510k+ on rent rolls of $4400-4500/mo.

@Charles Lee What's your strategy for these acquisitions? Buy/Hold for cash flow, reposition to maximize GRM, IRR, etc...? What type of returns are you expecting?

I specialize in off-market multifamily, 4-150 units. I am not in the market for new clientele, but I can certainly point you in the right direction. 

What type of coaching program are you hoping to find? e.g. - investment strategies, increasing SFR sales, etc...

I 2nd @Bryan Hancock.  

Also interested in the NC-specifc book mentioned above.