All Forum Posts by: Aly W.

Unless Trenton has changed, be sure to factor in professional management fees. My husband and I self managed our 2 houses for 10 years, and it's a challenging market. 

You're very welcome! 

I used Janna at First American Exchange for a 1031 three years ago in Florida, and we're using her company again for our current exchange. She's very knowledgeable, professional and helpful, always available to answer questions. I'll send you her contact info.

Hi Austin, I just discovered this topic and would to connect. Any further info, particularly in Florida, would be great, thanks!

I understand accredited assets can also include Heloc funds; if the rate is low enough on a Heloc, and the return in a syndicated deal is 3 or 4 points higher, it could be worth using. Depending on risk tolerance, presumably :)

@jonathan 

@Jonathan R McLaughlin, can you recommend any commercial lenders, in the FL market particularly? Thanks! 

Thanks so much, @Dave Foster, you're right...patience is a virtue :) We held out for good, sensible properties before and we'll do it again. There's a lot more at stake with multi family properties. 

I really appreciate your feedback on this:

"Sellers and listing brokers hate this because you are wasting their time by going into contract without really knowing if you want the property or not. But the shoe also fits on the other foot as well. A seller or listing broker who is not forthcoming with accurate and necessary information is wasting your time."

Even our accountant said the same thing - get it under contract and we'll see how the financials look and which properties should be relinquished. At least I'm learning a lot and it will happen :)

My husband and I are evaluating multi family properties, after many years of buying/holding SFRs and rental condos. We plan to 1031 Exchange a few condos for a small apartment building. What we've discovered is that properties (in central FL) are going under contract within a week of being listed. The listings often don't include all/any operating expenses and the status of the tenants/rent rolls, and the listing realtors are less than cooperative or timely with providing them. 

So my question is - are other buyers simply making offers and then doing diligence later with the numbers, or are they simply far more experienced than we are and make up or quickly find out the missing information, then backing out of the deals if they don't add up? Thanks!

I just discovered James Eng's YouTube video about multi family investing, and found it extremely helpful and easy to understand. I reached out to the team at Old Capital and had an excellent Zoom meeting today with an asset manager there, Clay Allen. He very generously spend almost 90 minutes with me, discussing various lending options and evaluating a deal I was looking at. 

Although they are commercial lenders, Clay explained how I could leverage up to larger investments and how they could be financed. He was really helpful, and I hope to work with Old Capital at some point. No affiliation here, just a BP member who appreciated their help!

Thanks @Nicholas Covington, I'll be in touch later this afternoon!