All Forum Posts by: Ali Taghikhani

Hey everyone, just to close the loop, I’ve partnered with the right person who fits my needs, and he responded In this thread. I’ll post an update as the journey unfolds to help people in my similar situation.

Hi everyone. 

Here's a little back story. I'm 29 and I just moved from Canada to Los Angeles. I'm technically self-employed as I own and operate a Tech Recruitment business. I am a dual-citizen (US and Canada), but have lived in Canada my whole life. I have strong credit in Canada (well over 750 closer to 800), but no established credit really in the United states. I'm looking at places between the 600-700k range, and willing to put down 80k USD. Even though I have US tax returns that show a good income (although it's lower than what I actually make, because as a business owner my dividends are higher than the net income I pay myself for tax reasons), because I don't have established credit here, I'm having a tough time securing the loan.

If anyone has any advice or help me get going, that would be appreciated. 

PS, as of now, I don't have any friends of family that are or can be co-signers.

Hey Matt, Let’s find sometime to chat on the phone. When are you free?

Hi everyone.

I am looking to invest in multi-family, either 4-plex or above in Florida in the coming month. Ultimately, later this year ideally, I would like to refinance, and take the funds out and use it for my next investment. My question is should I use a hard-money lender to finance the property at first? Or should I use a traditional bank loan? Which would be ideal if I would want to refinance relatively 'quickly'?

Any insights or thoughts on this would be much appreciated.

Hi BP folks. I've narrowed my choice to investing in Jacksonville. Seemingly, I'm seeing relatively cheaper prices compared to the rest of Florida, with comparable rents, and strong Capx #s, ~10%. Problem is, there's so many different options.. Duplexes, triplexes, 8 units+ etc.. On top of that, there's a lot of properties that need complete rehabs, and some are already tennant occupied. For those that have experience with this market, what would you suggest as the best move? I have about $80k of my own finances to use for this venture, and would like to go with a hard money loan, although I'm open to traditional bank loans, but my goal is to refinance the property later this year, and use the cash to invest into further properties.

Any advice on the local market and helping steer me in the right direction would be much appreciated.

Hi BP fam!

Right now, I am deep into my journey of buying my first multi-family property. I'm a dual-citizen from Vancouver, and will be looking to make my purchase in Florida. I'm not 'dead set' on Jacksonville, but I've narrowed it down to a good location with low-ish real estate costs, with decent rents. 

I've been looking at so many 'deals' on LoopNet, Realtor.com, and I've contacted so many of the properties, that agents have even set me up on some MLS email newsletters. For the purposes of this venture, I have about $80k that I will bring to the table. The properties I'm looking at range between $50-600k, anywhere from Duplexes, all the way to 8 doors (and some seem to be even more). The properties I've looked at; some need complete rehabs, while some are fully 'occupied', and then there's others with something in between.

I've analyzed so many deals, that I've hit a state of paralysis. My plan is to go down to Jacksonville for 2 weeks, rent an AirBnB, and finalize a purchase in this time frame. But I need your help! I know you can't help me "pick a property" but I was hoping you could help me eliminate some. Should I avoid properties with tennants already fully occupying them? Should I avoid duplexes and opt for more doors? Should I look for dumps that need complete rehabs? Should I get a hard money loan, and refinance with a traditional bank later this year?

I haven't really been able to find any realtors that 'care' or that would be perfect for my journey. The Realtors i've been put in touch with seem to be through Opcity, or just realtors that get automated alerts from the site when someone presses interested.

Any advice, or if anyone can steer me in the right direction would be really appreciated..

@Adam Benmbark I just sent you a connection request

@Kristin Kiddy

Hi! Most our clients are in SF, NYC, but also many other markets around the world. The way I’ve built my business allows me to be location agnostic. I can live and work in Mexico if need be!

@Jerry Padilla yes I file tax returns in the US every year. As a dual citizen, I have to. Also, we do a lot of business in the states, but still operate as a Canadian company

Hi Everyone!

I'm personally from Canada, but a dual US/Canadian citizen. I'm 28 years old, own and operate a Tech Recruitment Firm, and as an entrepreneur, my net income is solid. I'm currently living in Vancouver, Canada, and the real estate prices here are out of control, and the weather isn't great either. My plan is to move to Florida!

So, I've been put together my plans combining what I've learned from David Greene, Graham Stephan, and Grant Cardone (among many others).

So here is a high-level overview of my plan. I'd love some advice, feedback, and also connections (ie Property Managers, Realtors, Lenders) to make this happen. I would like to move to Florida, by latest September. My plan is to purchase a Multi-family home, ideally 4 units+. The extent to which I would have to rehab the property will depend on the conditions at hand. I would like to in total, use $75k USD of my own capital to make this happen (includes down payment, fees, rehab, etc..). Again, I make money from my recruitment company, and will continue to invest more as necessary. The regions I'm looking at are Cape Coral, Palm Coast, Winter Haven, Fort Meyers, or even Tampa or Orlando (open to other suggestions). Once I find the ideal 4plex (or bigger), I would need to get a bank loan, or use a hard money lender (need advice, ie Visio maybe?) to finance the rest of the deal. My plan is to rent out 3 units as soon as possible, live in 1 for a period of about 3-6 months. Then I would like to refinance the house, take out my capital, and invest it into a 4+ bedroom, 2500+ square foot house that I can live in and call HOME. Ideally, I will be using my rental income from the multi-family units to pay the mortgage.

The plan is to live in the large home, refinance it eventually, then invest in more multi-family homes. Some of the dilemnas I currently have is that I'm having a tough time finding the RIGHT property/deals (ie foreclosure, discounted properties etc..), and also, I really don't know how financing will go given that I've built my credit history in Canada only, and the fact that I'm an entrepreneur. Some good things I have going is that we've been in business for over 6 years here, and have the bank statements, tax filing to back it all up.

I'm looking for advice on how I can make my dreams into a reality.

Thanks Bigger Pockets fam, and looking forward to your advice, connections, referrals, or general comments :)