All Forum Posts by: Adam Berlinberg

Quote from @Eric Van Deman:

Hi Adam,

I’m also from the Denver area. If you would like to reach out and connect, I’d be happy to share a couple commercial lending contacts that may be able to help you out. 

Kind regards,

Eric

Hi Eric,
if this moved forward, I’d definitely like to connect. I don’t have anyone on the commercial side in Denver. Thanks

Quote from @Barry Ruby:

@Adam Berlinberg

Hi Adam,

I can send an input worksheet to you to populate and use it to produce a full presentation ready analysis of your project.

Let me know if you are interested and I’ll send the form to you.

That would be great if you are willing to do that. Thanks a bunch.

Quote from @Erik Estrada:

Quote from @Adam Berlinberg:

I have an opportunity through sheer luck from a family friend to buy an apartment complex and not sure how to go about financing. It is 32 units and severely under market rent with a low purchase price reflecting that. After bringing to market rent, would generate around $35k a month in cash flow, before property management fees. I’ve never done commercial financing, and not sure where to start. I know it is much more difficult to get, but with a property like this seems like it could happen. Asking price is $1.5 million, which I was just preapproved for on the residential side for an investment property. Any thoughts?

 Hello Adam, 

Do you own other real estate? Lenders typically want to see experience for anything over 5 units. There are options that do not require experience but the property needs to be at 70-80% occupancy. 

You might want to consider a bridge loan instead, to get this property up to market rents, and refi into long term debt. 

I don’t own other real estate besides my primary house, I have been ready to jump in and just got pre approval last week on the residential side. This apartment complex has had 100% occupancy the past few years. My father in law is in commercial real estate and I can assemble a good team around me if needed, but trying to do it somewhat independently.

I have an opportunity through sheer luck from a family friend to buy an apartment complex and not sure how to go about financing. It is 32 units and severely under market rent with a low purchase price reflecting that. After bringing to market rent, would generate around $35k a month in cash flow, before property management fees. I’ve never done commercial financing, and not sure where to start. I know it is much more difficult to get, but with a property like this seems like it could happen. Asking price is $1.5 million, which I was just preapproved for on the residential side for an investment property. Any thoughts?

Anyone familiar with Canadian Lakes? My grandfather has a decent plot of land there that he has held for 30 years and never built on. It’s pretty cheap for yearly fees and he wants to pass it along. Would need to build a house, but curious about short term rental prospects and we would use a few weeks a year. There are quite a few on Airbnb. Seems amazing with multiple golf courses, private lake, castle, etc.

Quote from @Jonathan Greene:

I would invest in solid syndications to start where you have to be hands-off. If you buy into multifamily now, being this busy and wanting to be hands-off, you will be leaving money on the table in property management fees and repairs. I would not buy turnkey, especially right now, you will likely go down in value over the next couple of years. A syndication is more passive, but you are kept updated on the fund of properties. A lot of my physician clients start passively in syndications and then get into it once there is a bit more time.

 Any recommendations on finding solid syndications? Why do you think turnkeys will go down in value the next few years?

Quote from @Nathan Gesner:

Quote from @Adam Berlinberg:

Hi all, I am interested in getting started in real estate investing and pretty overwhelmed after reading a lot and doing a lot of the basics over the past 6 months. I am a physician so looking for more hands off investing, and my wife and I are considered fairly high income so luckily we can build relatively quickly for investing. We have a primary residence that has appreciated approximately $300k in a HCOL city, and it is a terrible market in terms of investing due to popularity. We are looking out of state, particularly into the midwest with places like Ohio and Indiana. More interested in multi-family rather than single family homes, but not sure what a good entry point is. Interested in connecting with anyone that may have good suggestions and ways of getting started. Finding local real estate agents and teams? Turnkey properties? Benefit to cashing out equity in our current house for more leverage? Any direction is greatly appreciated.

Have you considered investing in syndications? Brandon Turner, Jay Scott, and Paul Moore all have syndications available. I believe Brandon is funding one right now. Good returns and you don't have to worry about toilets or tenants!

 I'm definitely interested in syndications, the issue I have at the moment is not being an accredited investor as I just started my real job a year ago. Still a year or two away, and the vast majority of good syndications require that status.

Hi all, I am interested in getting started in real estate investing and pretty overwhelmed after reading a lot and doing a lot of the basics over the past 6 months. I am a physician so looking for more hands off investing, and my wife and I are considered fairly high income so luckily we can build relatively quickly for investing. We have a primary residence that has appreciated approximately $300k in a HCOL city, and it is a terrible market in terms of investing due to popularity. We are looking out of state, particularly into the midwest with places like Ohio and Indiana. More interested in multi-family rather than single family homes, but not sure what a good entry point is. Interested in connecting with anyone that may have good suggestions and ways of getting started. Finding local real estate agents and teams? Turnkey properties? Benefit to cashing out equity in our current house for more leverage? Any direction is greatly appreciated.

Quote from @Scott E.:

If you have some friends there and know some realtors there, they will probably be able to offer the best point of view.

My perspective on Tucson is not positive at all. I went out there for the first time a few months ago for the Gem & Mineral show. Looked at some commercial deals while I was there because on paper, just like you, I felt like Tucson would be a great place to invest. Decent prices but very "up and coming" city as you say.

While I was there I was totally disappointed. With the exception of the vibrant strips of bars and restaurants around the college, everything felt very run down and uncomfortable. That includes gas stations, grocery stores, the hardware store, and the residential neighborhoods that we drove through. My truck was even vandalized while parked outside of one of the shows (still dealing with insurance on the repairs to this day!)

I'm sure there are nice pockets of town that we didn't see so I don't want this post to come off as close-minded. But I left Tucson saying that I would never invest my money there.

Interesting, I do agree with you thinking back on things. I’m going there soon, will have a look around as it’s been a few years. Seems like the Phoenix market is probably better? I felt the same way about Phoenix and love it there. I live in Denver so it’s a quick flight, and would be interested in that market as well.

I live in a very HCOL city that is nearly impossible to find rents properties due to extreme over valuation and low rents, so looking out of state. I lived in Tucson for a few years and always felt it was a prime up and coming city that was very affordable and a great place to live. Any thoughts on real estate investing there? I have quite a few friends there and know some realtors but gauging things first.