All Forum Posts by: Alexander Felice

One of the lessons that took me the longest to learn in RE was that higher quality properties that "make less money" are actually the ones that make the most money and are the easiest to deal with.

3 Votes

This is capitalism, there is no way to stop it.

You don't seem to mind this process when you're buying properties, but you don't like when other people try to do it?

also, just don't answer your phone

2 Votes

Quote from @Scott Mac:

Hi Jody,

Have maintenance sweep them up as their first job of the day everyday.

Put a commercial outdoor ashtray where most are found and tape a sign to every door encouraging ashtray use.

No maintenance, then PM or you will have to sweep them up, because if you just leave them there, it seems likely that it will encourage them to not use the ashtrays.

It might be kids, in which case--good luck.

You will also have to schedual regular ash tray cleanouts.

The I Dream of Jeanny bottle looking ones look pretty nice in most places.

Good Luck!

This is good advice.

This is a common problem, best thing to do is mMake it easy for them to be clean, then clean up after them

1 Vote

you're in the investment for more than it's worth, and it won't cash flow....and you want to KEEP it?

Flipping is inherently an inventory turn business, you're going to lose money on some of them. Don't get attached, sell it and move on, play the long game

0 Votes

Getting started in real estate is easy. The key is to make real estate activities a part of your daily life, the more immersed you become the faster you'll succeed.

Read books, listen to podcasts, go to local meetups, look and analyze properties, make investor friends online, consume real estate content, go to physical and virtual conferences, to name a few.

real estate is sort of a long game, you'll always be learning so once you make good habits the wins will follow

2 Votes

Quote from @Jon Fletcher:

@Alexander Felice Am I right in thinking that you can't purchase the building through an LLC if going with a Freddie Mac program?

That's Fannie Mae,

with Freddie Mac you'll definitely need an LLC

0 Votes

New York City, New York

It was a Freddie Mac loan

the bank we used was Capital One but many banks can use the Freddie Mac program

0 Votes

New York City, New York

Guy with great hair here....

My BP podcast #301 is in my signature like all BP podcast guests. BP does not have a function to let me add a link, nor add the BP money show I was also on.

I'm a guest on ~30+ real estate podcasts per year, I wish I was dedicated enough to make a page to link all of them on my website. That would be a good idea.

I do have a link to a lot of content on my BP profile page

1 Vote

Quote from @Jon Fletcher:

Thanks @Alexander Felice I'm assuming that the terms for a non-recourse loan would be much less favorable?

I can't speak for all banks or loans. I've only signed for one non-recourse loan so far and it's far and away the best terms I've ever gotten on any loan.

1 Vote

New York City, New York

former banker here

10% is, in my experience, a low barrier, however it's extremely common to ask for a guarantee from everyone who owns more than 20% of any loan.

way around this - find a non-recourse loan

3 Votes

New York City, New York

All Forum Posts by: Alexander Felice

Alexander Felice has started 25 posts and replied 2780 times.

Post: Seeking Advice Regarding Shootings

Post: Stop calling me about buying my multi family properties!

Post: Cigarette butts and multifamily property

Post: Negative Buy and Hold

Post: How to start in real estate investing

Post: Bank wants my LP to be a Guarantor

Post: Bank wants my LP to be a Guarantor

Post: I have an idea to find things faster when in the comments

Post: Bank wants my LP to be a Guarantor

Post: Bank wants my LP to be a Guarantor

Alexander Felice has started 25 posts and replied 2780 times.

Biggerpockets Logo Post: Seeking Advice Regarding Shootings

Biggerpockets Logo Post: Stop calling me about buying my multi family properties!

Biggerpockets Logo Post: Cigarette butts and multifamily property

Biggerpockets Logo Post: Negative Buy and Hold

Biggerpockets Logo Post: How to start in real estate investing

Biggerpockets Logo Post: Bank wants my LP to be a Guarantor

Biggerpockets Logo Post: Bank wants my LP to be a Guarantor

Biggerpockets Logo Post: I have an idea to find things faster when in the comments

Biggerpockets Logo Post: Bank wants my LP to be a Guarantor

Biggerpockets Logo Post: Bank wants my LP to be a Guarantor

Post: Seeking Advice Regarding Shootings

Post: Stop calling me about buying my multi family properties!

Post: Cigarette butts and multifamily property

Post: Negative Buy and Hold

Post: How to start in real estate investing

Post: Bank wants my LP to be a Guarantor

Post: Bank wants my LP to be a Guarantor

Post: I have an idea to find things faster when in the comments

Post: Bank wants my LP to be a Guarantor

Post: Bank wants my LP to be a Guarantor