All Forum Posts by: Abbie Bejrowski

I’ll be doing a 1031 Exchange in June and am looking for a properties prices ~$1M. Specifically interested in small multifamily or self storage in TX. Backup plan is STRs. Please let me know if you know of anything or want to connect. ~Abbie

I just saw this feed and thought I'd jump in. I have a small multi-family property outside of Austin as well as a SFH, and am looking to scale into larger multifamily. I joined the W2 Capitalist Mastermind group and have been happy with the amount of knowledge and the relationships I've built. There is a monthly group dedicated to multifamily investing and a weekly meeting to analyze deals as a group.

@Bevan Cassy the triplex is going great. One of the studios was vacant when I purchased it and the 2/1 shortly after. I had new flooring installed and made some cosmetic updates and repairs. I was able to raise the rents on these 2 units and the property is cash flowing ~$700/month right now. I fully furnished one of the studios to use as a mid-term rental. A friend going through a divorce is currently staying in that unit but I’m excited to see how much that increases cash flow.

@Amy George wondering if you found your CPA or narrowed it down? I'm looking for one as well for personal and business taxes & planning.

I am managing my units myself for the time being. I have changed the deadbolts to QwikLock SmartKey with the option to enter a numerical code, use an online platform for all leases, tenant credit checks, maintenance requests, rent and deposit payment, etc., will set up a virtual open house time frame to have tenants FaceTime/Zoom with me to do the walkthrough. I think this is totally doable if you want to try it OOS, but you would definitely need a cleaner and handyman you could call to be your feet on the ground.

I am closing on a triplex today with cash and then putting a mortgage on the property. Check out InterFirst Morgage and Better Mortgage. They will do their best to match/beat others and both consider this type of transaction a cash out refi.

Hi Anna, have you considered the BRRRR method for one of your first properties? Then you'd get the benefit of being able to pull most of your money back out while being able to hold the property and get the benefits of property ownership. I have one SFH and am closing on my first small multifamily this Thursday. I'm happy to chat with you about my experience so far. Also, I've met some great folks at the meetups. I've heard great things about InvestHER (for women REI) but have not yet been, and there is actually an in-person meet up tomorrow if you are interested. I am going to try to make it. Feel free to message me anytime, and I'm happy to look over any deal analysis you've done if you want a 2nd opinion on a property. -Abbie

Hi Nina, that's because I adjusted it this morning when on the phone with an investor friend! He had me increase vacancy to 10%, anticipate next year's taxes by multiplying the tax rate by the purchase price (rather than using 2020 taxes), and also I found out right now the landlord pays electric, water and lawn so I added $500/month for expenses - BUT I would change this with new tenants and have them reimburse me for the utilities each month (there is only 1 meter), and I could do this immediately with 1 of the units and in 1 month with another. So this expense would go away eventually. All of those changes made my $600/month cash flow negative. I also added in $30k estimated repair costs (total guess on that - I'm walking it with a contractor soon) and the steep closings costs required for the double closing New Western requires. So I don't know if this estimate is now way too conservative. 

My deposit is refundable if I decide I don't want to go forward (prior to signing contract) - deadline is tomorrow at 3p and I can't walk the property until 2p.What is a fair price to pay an appraiser for a same-day appraisal? I have a few names of RE attorneys that were recommended on Bigger Pockets that I will call in the morning.