All Forum Posts by: Anthony Bielecki

Thank you Joseph!

Hello all,

How do you keep track of your investments? What do you pay attention to besides ROI? Is there any software you'd recommend over just basic Quicken? I've recently purchased my first multifamily property (first property period) and am wondering about the best way to keep track of things.

Thanks for your time!

Hello all,

I am about to close on my very first rental property, a duplex in Miami Florida. On one of the documents my mortgage broker has sent me, I saw this:

So it appears that she can provide these services to me at this cost, or I am free to search for cheaper deal on my own. Of course, I plan on calling a few Title Insurance Companies to get some quotes. But I have two questions about this:

1) How much does the particular title insurance company matter? Specifically, I mean should I just go with whoever quotes me the cheapest price or is this the sort of thing where "you get what you pay for" and it could come back to bite me later if I go too cheap?

2) Based on your own personal experience, do the rates my broker quoted me seem reasonable?

As always, thank you all for your time and expertise. Biggerpockets has been such an amazing help to me all throughout this process. I look forward to the day when I have enough expertise to pay it forward.

Best,

Anthony

I'd like to thank everyone for their thoughtful responses. This has been enormously helpful!

Hello all,

To anyone out there who is currently investing in multifamily properties out of their home state, how did you find and choose the market you invested in? From books and articles I've read here on BiggerPockets, I'm comfortable gathering information to help determine whether a market is favorable or not, but I'm overwhelmed by the sheer number of choices when investing out of state. Obviously I can't look at the CAFR for every city in the US or even a single state. Any suggestions for narrowing it down would be greatly appreciated.

Hello,

I'm gearing up to make my first investment purchase - a multifamily home out of state. I've heard that smaller lending institutions, such as local Savings & Loans or Mutual Savings Banks, often offer the most competitive mortgage rates. Should I be looking for these in my area, the area of the property, or both? 

Any comments are greatly appreciated. Thanks for your time! :)

Hello,

My brother and I are new to real estate investing and looking to purchase a multiunit investment property together. We have saved up enough that together we can make a 20% down payment. I have a decent credit score (>750) but my brother has a much lower score (low 600's) due to some medical debt he incurred many years ago. We wish to apply for a mortgage together, but I worried we'll get a less favorable rate than if I applied on my own. Is this the case? Or is having multiple people sign a mortgage agreement (even if one has bad credit) always seen as a lower risk by lenders? Any comments would be greatly appreciated. Thank you for your time!

Hello all,

How do you personally determine if an out-of-state market is worth investing in? I live in the California Bay Area and real estate prices are astronomical. Being new to real estate investment, jumping into the game in an area with such high competition scares me. Since I want to invest in multifamily properties, my plan is to invest in a triplex or quad out of state where the numbers make more sense and hire a (hopefully) good property manager. But I'm overwhelmed by the sheer number of options I have. There are a lot of quads in the US. Where to start...

From various books and BP articles, I've been introduced to the basics of rental property analysis. Most of what I've seen recommends the following:

1) Make sure the city and neighborhood you're considering has the right demographics (growing population, ideally in the 20-30 year-old range since they tend to rent more), a diversified economic base, good schools, public transportation and low crime. Most of these facts can be gleamed from a city's CAFR.

2) Make sure that the numbers work for the specific property you're considering (using GRM, etc).

Is there anything major not included above that you personally do before investing in a market?

How do you pick areas to consider (since comparing every city/state in the US is infeasible)? 

Any and all suggestions and insights are appreciated. Thanks for your time.