All Forum Posts by: Vincent Crane

What year is it and do you plan on doing any rehab?

It seems almost every day there's newbie wholesalers trying to add me on BP and send me "deals", when these houses are pigs, total teardowns and still overpriced, there's zero analysis or reasoning behind determining that it's a deal. They just pull anything they see on zillow and try and get you to buy it. If you're one of these people, just stop it. Learn your comps, estimated repairs and ARV.

@Jay Hinrichs I haven't been to a first tuesday of the month auction, what's it like? That sounds like something I'd definitely be interested in attending

This should be more about the market as a whole. It was a great time to buy in 2012. It's not so much in many places today. Who thinks it's getting to look bubbly and there could be a downturn and lead to the next buyers market in 2 years, or 4 years, etc?

@Michaela G.   If there's a duplex in Atlanta selling for $15k, I suspect it's in a war zone. Duplexes in decent locations, in decent condition in Atlanta are going for $250k. What part of the city did you buy it in?

@Jay Hinrichs Of course but I'm obviously talking about 75 LTV, conventional financing for your typical $100k SFR that you'd want to see $250/month cash flow from in a B or C location.

Most people in Atlanta I've talked to aren't finding deals either. 4% cap rates on multi's, just absolute crap properties selling for full retail price that need $50 in rehab in a B area. It's unreal.

Buying a one bedroom condo is the WORST MISTAKE any real estate investor can make.... you get zero help from roommates helping pay your mortgage, and you have to pay HOA fees. No, don't do it. Rent, save up and just buy a 3/4 bedroom house, duplex, or keeping renting and buy an investment property elsewhere that's cheaper.

I haven't seen a single deal in the city of atlanta that cashflows, and I've looked at about 200. 

I think a lot of people are calling a top on prices in either 2016 or 2017. I can't wait for things to take a downturn because I like buying at a discount

Will we ever see a buyers market again?