All Forum Posts by: Brandon Sturgill

@Moses Carrillo I only see one very simple solution...buy the most units you possibly can as soon as you can. Your $100k is your 25% down payment and hold back some initial reserves and closing costs...find the market that meets your criteria for a C-class value-add MF property, build your team (starting with an agent), and pull the trigger...long-term buy and hold...drop all profits back into renovating units and forcing rents higher...take advantage of your equity in 4-5 years and buy another one.

@Lamont Marable check your local building and fire codes...putting living space below grade carries a lot of life-safety requirements and needs to be permitted...worst case...if there is a fire and tenants cannot escape...and you knowingly put living space below grade without the required safeguards in place...RE investing career over...

Just do it right if you venture down that path...hiring an architect is always the best approach to something like this

Best of luck

@Jack Krusinski sounds like a mental health issue...maybe it's not intentional behavior...if you evict, you could end up in hot water with a possible fair housing violation or discrimination charge...civil rights, or advocacy organization pushing to take the tenant back...viscous circle if she ends up back in one of your units. 

I always recommend talking to tenants when able...verbal or written notification and the accumulation of lease violations is the best approach...if the violations rise to a breach of the agreement, eviction goes a lot smoother.

Best of luck

@Dominick Galinis there is no rationalizing building when you can buy existing inventory...if you're not an architect or have a tight connection with a custom home builder this will take twice as long as you think with cost overruns you never predicted...how are you predicting you'll be in an instant equity position? I've personally never seen a good builder take 10-months to build anything...that is forever...if that is your timeline, you will also have materials price fluctuations...almost guaranteed. And what happens if the market takes a turn and you're under water by the time the build is done...

Buying in the Midwest is a better option 100%...

Best of luck

@Marvin Michel best of luck...looking forward to the summary when you're through

@Brandon P. what is the significance of the unit count?...by virtue of inventory properties in the range you are looking make up about 2% of all MF structures built...you're looking for a needle in a haystack...

You can buy an 8-unit in my city for $1.6m and a 16-unit for $600,000...what are some of the other criteria you are focused on...unit count really isn't that important

@James Wise it's odd...every time I google "Cleveland" all I get is pictures of toilets...maybe the search is broken...

@Stephen Brown I got my MLS auto feed setup ;)

Good info. Thanks for sharing

@Calvin Turner I gotta say, man...you're a big time wholesaler in multiple states and you are not sure how to get images of the properties you are brokering without a license "wholesaling"...interesting dilemma...makes zero logical sense, but interesting...

@Tony Zhang the only thing I would add is that after you follow the advice of the folks here and prioritize what is what, weigh whether the tenant requested repairs can be completed for increased rent...$600 in upgrades for $1,200/yr in increased rent is a no brainer...