 acquire an apartment blfg (by Balaji Sundara [NH]) Nov 17, 2017 1:30 AM
 acquire an apartment blfg (by Steve [MA]) Nov 17, 2017 2:56 AM
acquire an apartment blfg (by NE [PA]) Nov 17, 2017 4:04 AM
acquire an apartment blfg (by Still Learning [NH]) Nov 17, 2017 4:40 AM
acquire an apartment blfg (by Richard [MI]) Nov 17, 2017 5:20 AM
acquire an apartment blfg (by S i d [MO]) Nov 17, 2017 11:34 AM
acquire an apartment blfg (by Johnny B. [MA]) Nov 17, 2017 12:04 PM
acquire an apartment blfg (by cjo'h [CT]) Nov 17, 2017 2:53 PM
acquire an apartment blfg (by AllyM [NJ]) Nov 17, 2017 3:58 PM
acquire an apartment blfg (by Balaji Sundara [NH]) Posted on: Nov 17, 2017 1:30 AM
Message:
This is for NH or MA
I am interested in acquiring an apartment building with multiple 2-bedroom units. At least 10 such units must be in the building for me to be cashflow positive.
Where would I find a listing of these ?
I have tried MLS through a realtor - but no luck
Are most such deals "cash only" or can be financed ?
Help needed
Thanks --71.181.xx.xxx |
acquire an apartment blfg (by Steve [MA]) Posted on: Nov 17, 2017 2:56 AM
Message:
MassRealEstate.net meets the last Tuesday of the month in Peabody MA. They have members from MA, RI & NH that attend. Mike Hurney who runs the group also runs another group which meets in southern NH. I'm sure you could find some help at either of these groups. --72.93.xxx.xxx |
acquire an apartment blfg (by NE [PA]) Posted on: Nov 17, 2017 4:04 AM
Message:
To be "cashflow positive" doesn't matter if it's 1 or 100 units. If you poorly purchase that 10 unit, you could be cashflow negative the entire time you own it, if financed. --50.107.xxx.xxx |
acquire an apartment blfg (by Still Learning [NH]) Posted on: Nov 17, 2017 4:40 AM
Message:
Why 10 units or more? Cash flow can come from any number of units if bought correctly. There is a lot to learn in this business. I began with a 5 unit and several years later got another slightly larger. I would focus on looking for a building in a target area and build a model to see if numbers cash flow instead of only buildings over 10 units. Look at rents and see if they are low or at market when you run your numbers. Consider pre and post 1978 and lead costs since there is legislation currently being discussed in the NH legislature. There is another group that meets in Manchester (NHREIA). I have seen some buildings advertised on loopnet.com --24.61.xxx.xx |
acquire an apartment blfg (by Richard [MI]) Posted on: Nov 17, 2017 5:20 AM
Message:
acquire an apartment blfg (by S i d [MO]) Posted on: Nov 17, 2017 11:34 AM
Message:
I own multiple SFHs, several duplexes, and a 4-plex...and they ALL cash flow positive...massively.
Number of units is irrelevant. This kind of talk reminds me of the guys who are drinking the midnight real estate "get rich" guru Kool Aid that insist you only buy medium or large multi-units.
Do what Steve suggests. Find a local REI group and network. Get educated on the expected ROI and Cap Rates for apartments in your area so you know what to expect. Some markets are over-saturated with mega-plexes (100+ units), but work very well in the mid-range (20-99 units) or small plexes (19 or fewer units).
Not everyone wants 100 neighbors...or 20 neighbors...sharing their wall or parking lot.
You can get financing for large multi-family properties thru Fannie Mae (and Freddy Mac too, I think), but be careful as the requirements are very stringent. I'm not a fan of borrowing to begin with. I suggest find some money investors and pool your funds to do a partnership, then you use cash flow to buy out their interest in the project eventually. I'm working a deal like that right now. I'm still in the information gathering phase but have my investor/partners interested.
Bottom line: if you pay too much per unit and rent per unit is too low, your investment will perform poorly regardless of how many units are involved, period. --173.19.xx.xxx |
acquire an apartment blfg (by Johnny B. [MA]) Posted on: Nov 17, 2017 12:04 PM
Message:
I agree with the other posters that the number of units is irrelevant when considering positive cash flow. However, if you’re determined to find a large apartment building there are almost always a few in Manchester NH for sale on Craigslist. --24.147.xx.xxx |
acquire an apartment blfg (by cjo'h [CT]) Posted on: Nov 17, 2017 2:53 PM
Message:
Belagi,I think you ought to get some more information under your belt before you try to buy anything, even a one or two unit,or a coffee house.charlie............................................................................ --174.199.x.xxx |
acquire an apartment blfg (by AllyM [NJ]) Posted on: Nov 17, 2017 3:58 PM
Message:
Try looking in East Boston MA or the North End. Old college boyfriend bought and managed quite a few of that kind of building in that area but I haven't spoken to him in awhile so maybe things have changed. --73.33.xxx.xxx |
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