All Forum Posts by: Cassie Sherie

well looks like 4plex is the max size... just checked 

@Steven J. @Justin Sheley Is there a size/unit limit to the multifamily when doing an FHA loan? and for qualifying do they treat it more like a commercial loan in that they primarily look at the property as an asset and how well the property is performing....it's NOI, cap...etc? or?

@Josh Wallace if you're looking to do "creative financing" anyway why not get creative and do multifamily from the start? I'm new to bigger pockets and investing also...but from what I've learned so far it is less risky to do at least a 4 plex or bigger if the numbers are right....cause you will have rents from other tenants coming in if someone moves out or doesn't pay...verses SFR where you are relying on just one tenant for the entire mortgage etc. Once you get in to the 100+ unit apartment complexes it costs less overall for closing costs, inspections, lawn maintenance, manage....on and on. and the NOI/ passive income is obviously way better.

@Michael Powell one of the best things about real estate that I've learned so far is that you get to create the type of lifestyle you want... you can still do multi-units...put an "A" team together, which includes property management to take care and handle to day to day operations so you don't have to. Have your cake and eat it to! 🍰 👌

@Gino Barbaro Awesome! happy to help. thanks Gino!  😎  👍  ✌

@Gino Barbaro not hokey at all... I totally agree... as I basically ranted about energy, the universe, working on ones self...etc. in my reply post to you......haha! it's a good way to be instead of being a miserable A-hole.  😊

@Hubert Washington thanks for the vote! appreciate it 😊 keep pushing forward!  and @Gino Barbaro i like what you said about the average person doing more for others than themselves...

@Gino Barbaro I believe that too many people don't develop right mindset... our brain and the way we think is what controls everything in our lives (what you think you become)...what also plays a huge role in becoming successful is who we choose to surround ourselves with....this is a choice. (you are the average of the 5 people you hang around the most) think about it.  Whoever says otherwise is lying to themselves. What we choose to do with our time, is also very important. We all have the same 24 hours in a day. It's up to each person to use this time wisely... I have been realizing this more and more... so now I rarely watch TV...go to clubs and bars that whole nonsense waste of time. I spend my time on real estate taking the first actionable steps by reading books, blogs, watching youtube videos, listening to podcasts to educate myself, which builds confidence and the vocabulary to be able to have conversations with other investors who are already successful, think out side of the box, create opportunities, make deals and know what I'm doing and talking about...this is a key part of  your arsenal, and the more weapons you have at your disposal the better off you will be. (this includes how you build yourself up personally and the network of people you take care of and appreciate) Getting rid of limiting beliefs can be difficult (I'm trying everyday) because we become so accustomed to it... I'm not saying we have to be perfect, we as humans are flawed, but we also have to strive to be the best version of ourselves to allow for the right people and opportunities to come into our lives....So we open up ourselves and have a free flowing energy that lets the universe give us all that we want and be able to manifest and become the person we always knew we could be. This all starts and end with you, work on yourself. I've only been learning about real estate investing for about 2 weeks now. Figuring out my niche, which seems to have gravitated towards apartment complexes, there's just so many benefits and endless possibilities. I really get excited learning more and more...when I wake up in the morning, it is different now... there's a shift...and I know that nothing can stop me, I am unstoppable...I know it won't be always rainbows and butterflies, honestly life's a real B... at times...trust me, I've been knocked down over and over again, as I'm sure you have too...but it's still up to me and it's completely up to you to make it happen! With that said... when I'm ready I will be locked, I will be loaded and I will pull that trigger! 😊  

FYI: when I say "you" I mean other new BP members like myself

@Gino Barbaro I can attest to what you said. I myself having a culinary education and coming from a culinary background can relate and can say it is definitely HARD WORK... I like to believe and see it as an advantage because the work was so grueling. I will take that work ethic and skills (being organzied with prep, having to execute, that can't quit mentality getting through a lunch or dinner rush, being in the weeds, staying calm in the storm)...and apply to to investing. But this time around make the money work for me, not me work for the money! 

@Chad Miles just a real quick note. I'm interested in apartment complexes also. I've only been on BP for about a week but totally immersed myself in learning from those already doing it... to say the least it's been amazing! From what I've gathered, the overall take on acquiring these apartment complexes is that if the numbers are right and the deal is really attractive the money to finance will follow. I've also been hearing that banks are more willing to loan money on larger cash flowing complexes instead of duplexes, triplexes, 4plexes...etc. Larger properties are more appealing to banks.