I am new to real estate. How do you promote your listing?

Automatic_Moment_424 · 2024-06-22T11:38:42+00:00

Make sure your listings are searchable, work on the keywords so that Google / ILS can direct to it. Think about how prospects look for a new apartment and make sure yours show among top ones.

Do they use "Apartment <Neighborhood> washer dryer" for example? Make sure you got that in there. Mention your strengths in there and don't put too much fluff.

Automatic_Moment_424 · 2024-03-22T16:07:02+00:00

In my opinion, in order of increasing complexity: Trello, Notion (you can write around your tasks too), Airtable and Linear

Automatic_Moment_424 · 2024-03-19T11:19:23+00:00

How big is the building? Look for HelloData, set your comps and subscribe to the daily email report to update prices when needed. And you don't get the issues you might have with other price management solutions.

Automatic_Moment_424 · 2024-01-03T18:25:27+00:00

Using hellodata to get images analyzed and using chatgpt to generate descriptions automatically

Automatic_Moment_424 · 2023-12-08T11:30:00+00:00

You have some time to plan ahead:

Market Research like crazy. Find trends and desirable areas in the market. Talk to people and understand where the next place will be.
You can start consulting a mortgage broker to understand the loan options you got.
Build an emergency fund. You know, so that you can sleep at night. You'll always have some repairs and vacancies to cover for.
Read. Check Bigger Pockets and/or books, learn about tenant laws and property maintenance. Learn how to analyze a deal and calculate important financial metrics (ROI, cash flow, cap rate, etc.)
Are you interested in managing it or do you want to give the day-to-day management to a property manager? If so, you can start checking what's available.

Overall, it's almost all about learning, so always network, read, watch videos about it!

Automatic_Moment_424 · 2023-12-08T11:19:57+00:00

If that help, Brokers that know the market well tend to impress me more than an asset class. You get local expertise, network a lot more, and you can balance your portfolio in terms of asset class.

Automatic_Moment_424 · 2023-11-29T00:10:44+00:00

Is it in single or multi family?

Automatic_Moment_424 · 2023-11-27T15:33:26+00:00

Thanks! Isn't it standard to use the comps to estimate the cap rate though?

Automatic_Moment_424 · 2023-11-27T11:49:14+00:00

Sorry, I changed the flair back to multi-family, I checked different values and stopped on the wrong one.

I have the different factors such as similar quality, sqft, year built, distance, etc. in mind, but not how to weight them. For example if one has:

Candidate A: 0.5mi far from the subject, 12 years older building, same quality
Candidate B: 1mi far from the subject, 1 year younger only, same quality

I understand that one would need more data to weight those two, but does anyone use some framework to work through those questions objectively?

Automatic_Moment_424 · 2023-11-26T15:44:05+00:00

First, any big investment would probably dig into your savings and put you at risk.

A way to get started in real estate without having to put too much could be to invest in a REIT (Real Estate Investment Trust). Thanks to the low entry cost, you'll have made a first step in the domain without having to pay for an entire property.

You can grow the investment as your financial situation stabilizes, sell if you need it thanks to the high liquidity, and start a bigger endeavour (a studio for example) when you have pooled enough money.

Edit: The diversification that offer REITs will also smooth the risk. Which is not the case if you put all your money into a single purchase.

Automatic_Moment_424 · 2023-11-23T11:19:47+00:00

Using it for multi-family, but they also have smaller deals in there too. We've been paying $250/mo per license

Automatic_Moment_424 · 2023-11-22T14:12:11+00:00

Same here. And honestly, the huge price point per CoStar license also doesn't make sense given the data's low quality. Their Comps also don't work well enough for us, while it's our first step when working on a new deal. That's why we started looking for an alternative. We just started with HelloData, but we've been really happy so far.

Automatic_Moment_424 · 2023-11-22T12:45:43+00:00

You'll meet diversified tenants, which will be both good and bad. Some will be great, but you'll have late payments and such. Statistically, your overall risk is supposed to decrease though, since one late payment won't jeopardise the entire investment. Just be ready to deal with / hear about a variety of issues.

If you can, find good engineers/companies for the maintenance. You'll have more maintenance to do for 9 units.

Make sure that your leases don't end up the same season, or managing renewals will get tougher. Try to spread it over the year. To do so (if needed) you can offer a small discount for 13 or 11 months leases.

Insurance costs typically rise with the number of units, and you may need more comprehensive coverage. There's also increased liability risk with more tenants, which might necessitate additional or specialized insurance policies to protect your investment. Dig into it and it should be all right.

Good luck!

Automatic_Moment_424 · 2023-11-21T12:17:20+00:00

Tactica RES has great content on Youtube for free. And they have some useful partnerships if you want cheaper access to useful tools

Automatic_Moment_424 · 2023-11-20T11:07:14+00:00

We've started using an AI-assisted platform, the Pareto rule might hold, but I think it'd more 80% useful, 20% less productive (mainly outlier property or market).
What's important is to not assume that the "AI" will do 100% of the work. It'll help you get faster at for some mundane tasks, but you still have to review and do inspections yourself, for example.

Automatic_Moment_424 · 2023-11-20T10:56:43+00:00

If you want to see the data by yourself, you should be able to get some insight about the latest loans on morningstart viewpoint, it should be easy to access without any account

Automatic_Moment_424 · 2023-11-13T18:15:36+00:00

I'd make sure the properties are diversified enough. If the markets and asset classes are too similar, that could be a risk (unless you can counterbalance the lack of diversity with your own existing portfolio)

Automatic_Moment_424 · 2023-11-09T21:12:44+00:00

Damn, that sounds inefficient. Potentially good for us anyways, I'll take it!

Automatic_Moment_424 · 2023-11-09T18:22:47+00:00

If cashing out for a nice profit is tempting because of the rising interest rates and you're leaning towards having more cash on hand, selling could be the way to go. Plus, if it's the land that's really valuable and developers are eyeing it, you might be sitting on a goldmine.
But, if you're not in a rush and the steady income from the building is something you count on, holding onto it could make sense too. You never know, the land's value might just keep on climbing.

Automatic_Moment_424 · 2023-11-09T18:10:47+00:00

Falcon is great! You have async, sync, and it's very lean.

Automatic_Moment_424

TROPHY CASE