All Forum Posts by: Shannon Robnett

@Venkata Yerubandi I agree with @Justin Goodin and @Raymond Temprano books and worksheets are great, but there is no replacement for being apart of an underwriting team from a mentor ship side.  It will help you learn so much about the nuances of the area, product type and other things that maybe the book doesn't get into because they are written as a guide not an absolute for this deal right here in front of me.

@Julie Hartman  Have fun with that!

@Ryan Kelly not to poke a hole in what you guys are doing in Austin, but Idaho is a non disclosure state as well.  And as far as appreciation for last year Nampa Idaho which is right next to Boise posted a 23.7% YOY increase in sales price for the same data cycle. 

But its also ZIllow, so there is that!

@Brian Gerlach

and that is different for everyone! The right strategy for you has so

much to do with age, goals, disposable income, upbringing and time. So

many people feel like real estate is a one size fits all and its not.

Some people want cash flow because they want to retire soon. some need appreciation so they can grow the nest egg. All different reasons but most who "HATE" real estate got into the wrong type of investment for them.

@Zachary Beach

You are totally right with this thought process. The idea that you

have to just get good at one thing and keep bringing the value is the

ideal way to become a person that others will in turn start coming to

because they see and want to harness that value!

There is so much great knowledge on this thread!

@Joshua D.
That is 100% true nobody wants to trade wampum for real estate these
days and understanding where you can get the dough makes all the
difference in your mindset and your stance at the negotiating table.

@Adam Martin

and very soon you are going to want the economies of scale with ease of

management as well as the ability to directly tie your sales price to

the rents which only happens is residential if you go to MF. You are

well on your way and you will reach critical mass where you cant buy

fast enough and that is always fun to watch people get there! Great

job!

@Andy Thompson

I got out of building houses because of the same equation. So In Boise

Idaho I can build SFH for $130 a foot but the land is nuts like $100k

per house and I would make about 10%. So average listing in Boise Idaho

is $425,000. I am building brand new MF for about $120 a foot, the

foot print is smaller and the land is 1/5th the price. And it sells for

$210 a foot after cap rate on rents.

So lets walk out the math.

$4,250,000 = 10 homes Profit of $42,000 per house equals a $425,000 annual profit

$4,250,000 = 25 apartments with a $30k per door profit equals a $750,000

And building 25 units for 1 owner, repeating the same plans and schedules is about as close to the Henry Ford model as you are going to get in construction.

@Damaso Bautista

Give yourself some credit man! That's not luck that is just good old

fashioned common sense! And to have come from the hood you grew up in

is a generational shift that your family will always enjoy the benefit

of. Again not luck!

@Account Closed better here feeding your brain and building your bank account than FB!!!