All Forum Posts by: Taylor L.

@David Thompson 
I saw your post on Joe's Facebook forum, I appreciate you being so open with your experience. There's a lot of interest in Dallas right now, do you see other investors there getting "generous" in their underwriting in order to make the numbers work?

@Bruce Turner I agree with what @Joseph Gozlan said, factoring in third party Property Management would cut down on the headache from your end. WIthout Property Management in place, in a way you're buying a job.

I ask about your exit strategy and interest rate changes because many strategies are buy->reposition->sell/refi in 3-5 years. If I was going into it planning on a long-term hold, I'd consider rate hikes for exactly the reason you mentioned - your loan rate may go up in 5 years (or whatever the specifics of your financing). Personally I'd plan for 3rd party management and higher OpEx. Particularly until the owner provides you with more official figures.

Best of luck, if you do buy it please do let us know how it goes.

@Bruce Turner Any chance those two bent over utility boxes in the photo will need to be replaced at the owner's expense? If you do buy the building you might want to consider putting up a few more cement posts around there. Looks like folks tend to go off the road in that spot.

How sensitive to interest rate hikes is your proforma? Exit strategy? If you're doing a long-term B&H it seems very likely that interest rates will be higher in the future than they are now.

Hi John! Richmond is a great market to invest, but it's certainly competitive. Will you be able to come to any REIAs or ACRE?

 I totally agree with you on the Maymont/Randolph area. I am disappointed with RRHA and what they're doing with the properties they own in that area. 

Thank you for describing your situation so clearly and in a detailed manner. I would sell, given the information you've provided. There are better opportunities to be had. The hoa, submarket, and climate change will not do you any favors in the long run.

Anthony, have you considered being a money partner on another investor's apartment deal so you can experience the process firsthand?

Welcome, Dennis!

Hi @Glenn Tucker, I'm looking for something similar. I like that market and Richmond as well. I prefer Richmond, primarily because I have a better understanding of the submarkets compared to Hampton Roads. Which Hampton Roads submarket do you think is most ripe for investment? 

@Elizabeth O. Please send me an email. It's not a deal from my business, but I don't want to potentially violate forum rules.