All Forum Posts by: Chris Youssi

So... self directed means that self directed. Not that complicated have been doing it for almost 15 years. Careful about overpaying for unneeded fees. I pay $500 / year for my advisor to review my transactions and keep me out of trouble. We buy / sell multiple properties every year no worries all within the guidelines of IRS.

Good Luck

SFH far and away IMHO much better investment than multi-family / at least in our market.

EG... have 30 that average $300/ month with an average rent of $1140/month. I would much rather have 30 tenants netting 9k/month ( anywhere from 6+ years to 14 amortizations ) than 90 netting me the same income. Other factors are : higher appreciation / easier to liquidate/ more stable tenant . One other factor YTD vacancy rate 1.81%% and that is only because we had an eviction otherwise it would be 0 .I have owned multi- attached housing and SFH and for me there is no comparison wish I had 100!

3 - look up the AV in the tax records - based upon his idea of value you should run away not walk IMHO. 

4- not based upon # 3 because what flipper would overpay for anything especially double it's value - answer Kind of like a unicorn it does not exist!

Good for you getting out there getting your feet wet and gettin after it!

Zip experience in NJ but vast experience in developing / building condos have done 4 projects totaling nearly 500 units. First and foremost I would not do condo's but townhomes. The reasoning is very simple. 100% of all townhomes can be financed with FHA/VA financing. Condos must pass rigid guidelines regarding rentals / dues etc... that can be very very difficult. The difference between a condo/townhome is how is owned - condo you only own from the walls inside the HOA owns the remaining property including the grounds-driveways etc... - townhome you will own ( in your case ) 50% of the roof/siding/driveway/yard etc... A complete no brainer . I just converted a 4 family and am recording the"townhome plat" tomorrow. Key is make sure you have a good surveyor and title company. s far as being ready all about the market in that most people who purchase either one of these products are not interested in any maintenance and would rather pay monthly dues. Good luck

My situation is different than most in that I have a very aggressive amortization schedule with our 30 SFH portfolio. 8 / 30 are on 7 year amortizations 6 years 7 months and counting down - the others are on 13 and 14 years ( originally 15 ) remaining. Always lots of chatter about NOI/ 1% 2% etc... I'm a simple guy with a legal pad and this is our objective : we need to get a minimum of 26-30% of the rental income for + cash flow which is an average of $300/ door or for those who study finance, our DCR is 1.43 vs most banks will lend at 1.2. Hope this helps.

My thoughts

I would never buy anything with a - cash flow / makes no sense. Charge yourself rent as if rented n problem solved. Why you may ask? Forces you to either get a realistic picture for future deals with lenders / more important IMHO accelerate your mortgage paydown.

 My thoughts

SFH ( single family homes ) hands down without question . A few points to prove up my point:

Faster appreciation

More stable tenant

Much easier to rent

Stronger cash flow

Tenants most times handle small repairs

No lawn or snow maintenance

Easier to unload

Been doing this for 35+ years done multi duplex SFH and there is no comparison in my experience. 100k is a great start - off topic / look for somewhere outside of largecities where trends are starting to avoid overpaying. My thoughts

IMHO do not renew their lease based upon " we are no longer a good fit" as they keep asking which is a time hog and logistics nightmare not to mention financially.

Best of luck

Looking for Institutional funds for a 8 figure multi-family project with 60% LTV.

Insurance companies / wall street etc... A property / new construction cap rate will

be high 6's. Any thoughts or referrals? Serious replies only

THX