I would simply say get out there and know what product is trading at for you local market.I can tell an investor looking to purchase in Georgia what the going returns are.What the seller is asking,what the property is going under contract for,and what it is closing at.When you get into 5 plus or more units and commercial financing you get much more creative in putting the deals together.The location and age of a building along with it being fully performing,semi-performing,or completely vacant makes a big difference in value.An out of state investor might call me that gets a 5 CAP where they are at and dreams of a 13 cap here.I have to tell them they can get that but the property will have big problems and risk.If they want a more stable product in a better area a 9 to 10 is the average.Through rental demand over the next few years and improvements they can leverage the cap further than where they are at going in.Many have bought houses before but are new to the multifamily arena.

I've developed a few small subdivisions ( 32 - 115 lots ) and some commercial developments where I traded contractor services for equity.At this point my interest is getting into rehabs until I can return to spec building.

Your property has issues.To take those issues on for an investor or group requires a certain price point in selling.These reports you mentioned are usually MACRO and mean nothing as it is a blended rate with varying properties that are similar but very different as well.Unless this report was a MICRO report I would not give it much weight as to what CAPS are trading at.

I'm a salesperson by trade and I think I could have sold it by now.

I have experience in the trades and am comfortable doing the majority of rehabs/repairs on my first few properties.Well that's a short intro, I'll be sure to post other specifics in separate topics.And thank you, I've read through many threads and links.

Yes it can increase your future earning power, but at the same time there are trade offs to that as well.

Exceptions for "sort of" full time non-trade blue collar help to do the grunt labor abound in communities of 50+ paying and occupied pads.While I was mostly involved in very large communities, I did a couple of small community turnarounds - both about 50 pads each.

Trading into a new property soley on the basis of being able to do a 1031 exchange does not seam like it would be a real strong reason to do so.

Even further, FCI for example, does not report mortgage trade lines to the credit repositories, so if the strategy is to see them refinance away from you, ensure they are getting credit for making payments on time via your mortgage servicer.4.

I was visiting with BP member Danny Day at his current renovation and during our conversation it came up that we should try and get some of the Houston BP members together to network and trade stories.So let's set a day for May 7th at 6:30pm at Block 7 Wine Company in the Heights.