All Forum Posts by: Adrian Mahdian

@James Wenzel I just read your profile and I am interested in commercial RE, if you were starting over again, what would you do? 
Does the financing (Cash out REFI) process for a 2-4plex look very different to bigger units that you've done? 


@Polo Vazquez I sent you a DM! I am interested to see what McAllen has to offer, was looking at a few videos and stats about it and I like it! San Padre beach is right there too so I am a bit bullish on it because more tech jobs will want the lifestyle! 

@Eliott Elias I'd love to connect! 

Do you think buying a 2-4plex all cash to BRRRR is still possible to find in the small cities around San Antonio, along the I-35?

@Melanie Thomas do you know or would recommend any of the PMs that have happy clients?

@Shannon Glanton How is it going, did you already start the process? I am looking to do what you are talking about here. Did you find any properties that fit your goal? For me personally leaving a few thousand $$ would not be too bad after doing the BRRRR, at least for the first BRRRR.

@Andrew Postell Hello Andrew, I am looking at a few small cities around San Antonio that fit my budget but I am on the fence before finding a few trust worthy PMs and Agents + a lender for the cash out refi ofc... 
I will be doing the same, I will work with the agent and pay them the fee, they have more value than the 3% we pay if they are the right person, even if it was OFF market. 
Do you have any recommendations for the agents or PMs who have built systems to make their businesses run smooth? 

@Jack MawerI am looking at investing around i-35 in Texas, specifically BRRRR. I am an OOS investor and probably looking at a DCSR loan, cash out REFI loan. If you have any programs for non-US residents, please let me know. 

I will be upgrading the unit and stabilize the increased rent. 

From Davids Long Distance book. 
"In some US areas, the tenants are mad that they are paying more to rent than to own the home.
If the prices have rised too much and they can't find a home to buy, they will become ANGRY/forced tenants. They will keep looking for a place to buy and leave your property VACANT."

1 - My question is, how do you DETECT these areas/communities? 

I was thinking maybe renter to owner occupied ratio can give a HINT! For example if home ownership is 95% it would suggest that they would feel like they would be looked down on from their community maybe, because everyone else OWNS.

Because in places where MOST people are renting , it might be NORMALIZED and hence less problematic. But that is just my guess. 

Just a crazy example, in Manhattan ALOT of ppl rent (who woulda thought...)

Is there any other ways you check to make sure renting is accepted? No flaky tenants?

BTW, if you invest or do anything in Rio Grande Valley let's connect! I am looking to go all in.

// Adrian

I would look at median income over time stats, 

BUT I learned 2 ways from @Jeff Copeland which I think were amazing!

I am looking at local real estate agent association boards, they have some good data

Also for economic indicators look for local chamber of commerce and regional planning commission! 

These 2 ways I think are great! I still don't know how to best use the data tho... If anyone can help it'd be highly appreciated

I usually reach out to PMs in that area and ask around and take notes! 

You can also test https://crimegrade.org or Cityprotect.com 

Then there is also Speaking with local law enforcement lol! 

@Alex K. 

I am falling in love with the numbers of Detroit... 
Do you think a BRRRR deal like this would be realistic right now in Detroit?

BUY - in a C-B neighborhood.

Single story 2-4 units.

$170 000 ALL CASH buy!

REHAB - up to 30k rehab.

RENT- My main goal is to cashflow minimum $150 per door so a 4plex would give 600$ PURE cashflow in total.

9-15% Cash on Cash return.

REFINANCE- And of course refinance it to pull most if not all of my money out
REPEAT - go onto the next deal 

// Adrian

@Art Perkitny

Dobry Dzien Art! Schema?

I am working on my Polish haha!

So I am actually looking to invest in Indianapolis or Detroit, would love to see what you are up to or if you have invested yourself!

I am currently in Warzsawa but I will be investing in USA! Looking for a BRRRR.

// Adrian

@Joey Wakefield I am looking for a multifamily deal too, in the suburbs of Detroit! Would love to connect and share some knowledge, I think it's a great opportunity! Defintely let me know if you have gone forward with any deals, I am a numbers guy! DM me!

@Travis Biziorek 3 years ago? Wow Travis, now it's been almost 4 years, would you mind sharing how you got started and how the numbers looked? I'd love to hear your thoughts!

@William Costello Which other midwest cities are you looking at? I am looking at Indy and Cini, OH

I know it's been 8 months but now I am filtering the forums and narrowing down to "multifamily" + "detroit" that I found this post! Cheers!

Hey Connor, I am also looking for the same criteria, would love to connect and keep in touch

Same with you Kyle, reached out to you as well in the messages!