All Forum Posts by: Andy Lanyi

@Elias Halvorson

I get an email from this place monthly.

Venture West Funding. They seem to have the best rates and terms. Just figure out what terms you want. Some places are interest only. And then the years for the loan change, and each bank has a different DSCR.

@Bill B.

Here are a couple more things to think about. Ground up construction, in another state. Or buying something where you can put in an ADU always think about value add. So put down minimum where it is breaking even, put in an ADU and sale.

@Sherry Tsai

If you choose to self manage, it would be the one closest to where you live. You will have to go there once to twice a week to make sure that trash doesn’t get out of control. I live in Pasadena and have multifamily in Longbeach, and I hate the traffic to get there. Long Beach is so fringe oriented and prices are so high that it is pricing out the low income people out. So, my opinion is if you purchase in Longbeach, in a fringe area,the area will get better.

@Chris Seveney

You have to know why the owner wants to sale. For example it they want to 1031 it onto another property they will never do the financing for you. But you have to start with the motivation of the sale first then work backwards from there.

@Mike H.

First I would make friends. Onto as many local meetup as possible. Get educated and make an educated guess on where to spend money. The market is always changing. Right now people are making money on ground up construction. Before it was BRRR with the property. That is hard in a lot of areas now. Get in a few small deals with new friends, get that experience in partnerships. Then make up my mind on what and how I want to invest.

@Arn Cenedella

Here is something that is not brought up very often when you purchase properties. Where do you want to spend your cash, give it to UNCLE SAM or put it into rehabbing property. if you want to off set your W2, purchase a STR. If you want to off set business income anything is available. Always try to purchase with value add in mind, it is tax deductible and brings up your value. You can never bank on sale price in five years, and then you take a six percent hit from the agents when you sale. That is three of the five years of appreciation. Then on top of that I have four multifamily in Southern California, and they really have not appreciated that much except for the value add that I have forced.

@Chris Seveney

My daughters are 24 and 27. They both have great jobs as nurses. We try to have weekly talks about goals, we have a spreadsheet for everything job, investing, health and etc. it is hard for me because I want to push, but I just listen and that is better that way. Slowly but surely they are investing and getting interested in realestate.

@Chris Seveney

Yes

All

Of those things, just don’t forget to have receipts for everything you deduct from the security deposit. Send a copy of the receipt on an email the old tenant itemizing all deductions. And in California you have three weeks to do the refund is there is one.

@Jonathan Cooper

The regular depreciation over 27.5 years will be prorated. If doing a cost segregation that can all be taken at once. That is what I have done in the last three properties I have done, with no problems.

I want to set up for a 1031 of a set of apartments that are in a trust and put new apartments into an LLC. Will this work or do I have to keep the new property in the trust?