All Forum Posts by: Spencer Gibson

@Yousif Abudra Thanks for the response. Question... Why exactly do you avoid 100% occupied? And if you are looking for higher vacancy what is vacancy rate do you avoid?

@Nick B. thanks for being more specific. This is the type of answer I was aiming for.

@Brian Garrett thanks for the reply. Ultimately I am trying to gather data on approaches, methods and/or hone in on any patterns. Regardless of the different answers/approaches, I am trying to get insight into what the more seasoned multifamily investors are using for their checklist to identify their ideal property. Even if the specific parameters are different than mine based on goals, resources etc... it is interesting to see what specific things people consider to be an important identifier on their checklist. 

 I am currently trying to identify what my ideal parameters are for identifying/buying multifamily properties. Since I am brand new to this side of real estate I was hoping that some of the vets out there might share with me your ideal parameters or checklist that you use before deciding to make an offer? 

For example:

1) Class type- B/C class

2) ideal property size- 16 or more doors

3) Vacancy rate- nothing below x%

4) Absorption rate- 

5) Cap rate / coc return- 

etc..

I realize that everybody will likely have different goals for investing and will be in different markets so this will drastically change certain answers to the above but if you could also share your actual numbers alongside the checklist this will be very helpful to me. 

Any information or feedback is much appreciated!

@Jason Bott that is kinda what I thought. I figured I would ask just in case there was a resource that I wasn't aware of. I guess the approach then should be to build a portfolio of quotes in each desired area with each property size and type so that I have something to reference. I suppose that's what the due diligence period is for as well... Thanks for the feedback

Hello all, 

How is everyone obtaining accurate costs for hazard and/or flood insurance that can be used for the deal evaluation phase? I am crunching numbers on a wide variety of property types by using the bigger pockets calculators and I am having a hard time finding a good source or website to get insurance numbers (costs) from. What I have done in the past is base my figures on other deals that I have either gotten quotes on or actually bought. But as I make my transition into multi-family housing investing I find this approach to not work and calling my insurance broker isn't really an option either considering I am evaluating a ton of deals per week. Any and all suggestions appreciated!

Thanks for all the great responses. All the comments have me second guessing the co-star approach. But I will get with my partners this week and re-look at our strategy for identifying multi-family units and keep you guys posted.

I am entertaining the idea of subscribing to CO-Star to help me find and acquire large apartment complexes and was wondering who all might be using this to buy bigger complexes? Feedback? Other resources aside from LoopNet? Thanks 

Hey @Bill Zahller have you gotten anywhere with your research on the websites that you mentioned? I am also scouting multi-family....