All Forum Posts by: Tony Akhigbe

Great post @Cody L. I'm just starting my MF investing journey (and hoping that I'm not late to the party). I know I'm susceptible to analysis paralysis sometimes but I'm working on pushing through it and "just buy something" :)

@Mike M. Thanks Mike for the printer & targeted list suggestion, I can start on a small scale and see how this goes. I’m building my list and was wondering how to do get it out. I had tried Canada post a few years ago (for a different type venture), they only offered a mass mailer type campaign for neighbourhoods/communities. I wouldn’t have been able to target specific addresses/properties which does me no good this time around.

Good discussion on the state of the CAD/NZ/OZ markets. I used to dive into conversations like this, but I gave up “forecasting” years ago after my crystal ball had failed me so many times. I’ve been hearing about the coming RE crash in these places for years now, it still hasn’t happened (I can speak more to Canada than the others). I remember a quote from an economist “A bubble is only a bubble after it has popped”. Vancouver/Toronto were showing signs with the crazy appreciation spikes – no crash. I thought for sure Calgary will crash with 2 oil prices crashes since 2008 – the market is now described as “soft”. I hear household debt/income ratios are at highest level ever and higher than the US – still no softening. Now I just watch the numbers (demand, population growth, price action, etc) and try as best as I can to parse the spin. As @Omar Khan, @Lindsay Stewart have said, there is demand, and it’s not going away. People are moving into these countries, and into certain cities (making them even larger). I was surprised to learn that even in the depths of the worst oil recession Calgary has seen in decades, 12k+ people still moved in. A July article I saw said in 20 years half the US population will live in 8 states.

So this bubble (if it is one) may still pop, I hope I can see it coming in the numbers.

Way to go @Cody L. You are CRUSHING it!

Thanks @Cody L. for sharing this and congrats on closing a great deal. I'm off the fence and trying to get started in MFs, so this is great motivation that there are still deals like this out today. It will take some time to build up to this but hearing your story I know it is possible. 

Congratulations @Sean Kollee, big shout out for this accomplishment! Myself and some partners had looked into doing a tear down/build in 2015. We had started researching/planning/scouting for sites, but then backed off as the wringer we were going to go through became clearer.  So congrats for getting this done. Looking forward to bigger and better in future. 

@Charles A. Congrats! Its good to hear stories like this. I'm really looking forward to the details in your blog post, I'm trying to walk where you've walked.

@Matthew Zachman as mentioned, find a knowledgeable realtor for the area(s) you're targeting, that would go a long way.  You could get recommendations, look for ones with the most listings, etc. But in my opinion, the most important quality is finding one who is ambitious, and out there aggressively trying to grow his business. 

The 2nd thing is network, network. Go to REI meetings, get to know people, find people doing deals, wholesalers, etc. Let people know what you're looking for.

@Andrew Dao as others mentioned, your best bet is having an agent pull comps. That's what I had to do for a 4-plex a while back. Another thing was comps were hard to come by in the community, so we had to broaden the area to other communities. Also had to go back at least a year and "adjust for appreciation" in the community. 

Congratulations! great job