All Forum Posts by: Catia T.

Thank you everyone for your feedback and insights. It has definitely helped me a lot. I know I want to get into multifamily investing and eventually into larger apartment complexes. Does anyone have any recommendations for up and coming areas across the US?

@Charles Seaman I have done a lot of reading and analyzing of deals. Just looking to immerse myself and learn as much as I can and would love to learn from someone who is active in investing

Hi everyone so I am just starting on my real estate journey and I love multifamily portfolios and large commercial properties.

I am looking to learn all that I can and would love to partake in an apprenticeship program or learn from anyone I can!

I want to be able to purchase deals across the US and scale and grow my investment.

Any suggestions on apprenticeships, mentors, etc?

Also if anyone knows of anyone looking to bring someone under their wing please let me know!!

Thanks in advance!!

-Cat

Thank you so much for all of your input. It has greatly helped me. I am now reevaluating the numbers and at a second glance it really is overpriced at $100,000 a door. Most of the units do in fact need renovations and some of an upwards of $100,000+ per unit. Thank you everyone !!!

Side note if anyone knows of any great deals please let me know!!! I am open to investing all over the US and am not put off by out of state investing if the numbers make sense.

@Kevin M. Thank you for the reaponse. I did calculate the licensing fees and take them into account. I did not however think about the lead paint remediation if necessary. I’ll have to look into that and dates etc on the properties.

As far as the PM goes the owner has been managing the properties himself and the 5% is his “fee” not even sure how that even works but apparantly it worked for him for 25+ years

Thanks for the input!

@Brock Mogensen. Thanks so much for the reply. I am definitely going to be going after big deals as opposed to starting small. The current owner has had the properties for 25+ years and pays himself 5% monthly for his property management which is built into his expenses. This obv isn't included in the NOI but something to think about. I'm not entirely sure I could handle PMing a portfolio this size but would be up for the challenge

@Danny Randazzo. Thanks for the reply! Any recommendations of who to reach out to?

@Sean T. Thank you for following up and all of the information. I will keep you posted with details

@Gregory Hiban thank you for the follow up. It was actually my idea to propose seller financing. About 80 of the units are section 8 housing and definitely under market value as far as rental prices go so there is an upside there.

I know half of the properties are in not so great areas but the tenants have been there for 5+ years and the other half of the properties are in great neighborhoods

Thanks for the insight!

Hi everyone!

Advice is greatly needed. I am relatively new in my real estate investing journey but I am ready to dive in.

I stumbled upon a 107 unit portfolio sale spread out across up and coming areas of Philadelphia, Pennsylvania.

The owner is willing to seller finance and potentially with nothing out of pocket.

Here are the figures:

Asking Price: $10,700,000

Unit Count: 107

Units are all 2-4 bedrooms with 1 bathroom

Gross Monthly Rent: $108,023

Yearly Gross Rent: $1,296,276

Yearly Taxes: $96,390

Insurance: $39,390

Water and Sewer: $91,975

Repairs and Maintenance at 15%: $186,414

Property Management at 5%: $59,473

NOI Yearly:$695,486

NOI Monthly: $57,957.17

CAP rate: 6.5%

Cash on Cash Return Year 1: 6.67%

What are your thoughts? Seller is open to financing. I was even going to propose 50% of NOI monthly as a payment.

Not sure how to tackle this.

Any advice would be greatly appreciated.

-Cat