All Forum Posts by: Vincent Popovski

I believe most people will tell you the best way to find deals is developing relationships with brokers. Learn as much as you can now so you can provide brokers with your exact criteria and so you at least know what you're talking about. Most brokers will first send you a couple "bad" deals to test you and see how serious you are. Get back to them and let them know why you don't like that deal and why it didn't fit your criteria. It's a little test to see how serious you really are.

Listen to podcasts, read books, find meetups in your area (check out meetup.com)

A couple good books I recommend are Crushing It In Apartments and Commercial Real Estate by Brian Murray and The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges.

Best of luck!

It is simply your return on investment if you paid all cash for the property. 

Additionally, it is info on the market. Lower cap rate means less of a return but a safer market, where as higher cap rate is just the opposite. Like someone said above, cap rate and price are inversely proportional.

Best of luck :)

@Allan Calderon The value of multi family properties is based off its Net Operating Income (NOI) and that markets Cap Rate. Example: If a property’s NOI is $50,000 and that markets Cap Rate is 7%, then the value of the property would be roughly $714,000. NOI/Cap Rate = Value I hope this helps!

@Dennis Dahlberg Wow, you don’t look 65! The real estate is keeping you looking young! 🤣

Originally posted by @Jason Postill:

Very good. Thank you All!

 Good luck, man!

Crushing It In Apartments and Commercial Real Estate by Brian Murray

Completely up to you and your plan. Like you said, there are experienced investors that offer both sides of advice.

Bigger properties obviously may cash flow more, however you may not get lending if you’ve never done any deals in the past.

Originally posted by @Joe Villeneuve:

Originally posted by @Amanda G.:

Hi Vince,
I have family around Troy! Your best bet is to find your local real estate investment group. I think there are a couple very active ones in Michigan. @Joe Villeneuve, is Vince in your turf? 

 Thanks for thinking of me Amanda, but this isn't my area/location.  However, never say never.

 Hey Joe!

Just curious why you say it isn't your area/location. Do you not invest in SE Michigan?

Thanks!

Originally posted by @Amanda G.:

Hi Vince,
I have family around Troy! Your best bet is to find your local real estate investment group. I think there are a couple very active ones in Michigan. @Joe Villeneuve, is Vince in your turf? 

 Hey Amanda,

That is awesome! Thank you, I am looking into some right now. I will be attending as many as I can.

Thanks!

Originally posted by @Keith Jourdan:

I manage 50+ single family homes in the metro Detroit area . Drop me a line

 Sending you a PM!