apartment building bird dog

[dpm]

To the wealth of knowledge out there how do I go about finding some good bird dogs for apartment buildings?  Thanks

[Hooch]

I too would like bird dogs for apartment buildings. Or wholesalers. That's a good question.

[Mr Investor]

Advertise like you would for a residential bird dog but instead advertise that you are looking for apartment complexes.

[Stanfield]

What area are you in?

[Hooch]

Roanoke VA. I need birddogs for both apartment buildings and multifamily houses.

[Mr Investor]

Roanoke VA. I need birddogs for both apartment buildings and multifamily houses.

Hey Hooch I'm getting into commercial REI as we speak if you send me your criteria I'll see what I can find since I'm looking for some apartments myself.

[Hooch]

I am a landlord so rent is what I base my criteria on. All properties I buy are rent X 30 minus repairs which include splitting up the utilities if necessary with exception of the water. My highest offer is rent X 35. These rates are what would be considered low income property.

BUT, I only buy in the Roanoke area. I have never bought outside this area because I am not confident enough that I would succeed without actually being there. I buy property all the time from out of towners that screwed up, not fully understanding the local market.

[rightontime]

I will be a bird dog for anyone looking in the South east... Just PM me your criteria... i ve got properties that i dont know what to do with.. I ve got good broker contacts  and bank foreclosure deals that are screaming cashflow....with huge upside...

[Keatonus]

I am a landlord so rent is what I base my criteria on. All properties I buy are rent X 30 minus repairs which include splitting up the utilities if necessary with exception of the water. My highest offer is rent X 35. These rates are what would be considered low income property.

BUT, I only buy in the Roanoke area. I have never bought outside this area because I am not confident enough that I would succeed without actually being there. I buy property all the time from out of towners that screwed up, not fully understanding the local market.

Most Apartment complex buyers, buy based on the Cash on Cash return, or atleast any educated ones do.

If you can find a 20% Cash on Cash apartment complex, you'll have no problem finding buyers at your local REIA club, or even out of town buyers.

[Hooch]

Wrong!  Most apartment complex buyers buy via the capitalization rate. The cash on cash return is one of many things derived from the CAP rate.

If an idiot bought only considering their cash on cash return they would have little to no skin in the game as the less money you put into a property, THE HIGHER your cash on cash return will be. Hence, the lower your loan to value ratio greatly increasing your risk.

[Keatonus]

Wrong!  Most apartment complex buyers buy via the capitalization rate. The cash on cash return is one of many things derived from the CAP rate.

If an idiot bought only considering their cash on cash return they would have little to no skin in the game as the less money you put into a property, THE HIGHER your cash on cash return will be. Hence, the lower your loan to value ratio greatly increasing your risk.

Lol. ok there big guy.

I'm not wrong, and neither are you. We're both half right. You have to buy based on BOTH Cap rate AND ConC. And the original post has neither.

Buying just based on Cap rates isn't always a great idea either. As if you put down 50% on a 10 Cap rate you're not making the highest and best use of your money, as you could've gotten away with 25% and be in the green. With leverage you should always expect to put at least 20% down. as you want a good cushion in case your investment goes sour.

[shergenius8]

Are you an investor?  I am in the business of birdogging.

[Mr Investor]

I'm looking for a bird dog who will find some multi's for me. My email is in my profile. I'm willing to work with brokers,agents and bird dogs.

[Smart Homes]

I bird dog in NYC. But find deals all over. I started to  like Multi families more to wholesale and bird dog then single family, they get a faster response. I want to keep and hold some in the near future.  PM , Maybe we can work together.

[jasminebatra]

Hey, I think the best way to find your requirement is by placing the advertisement in various medias.

SEO