All Forum Posts by: Cory Sparks

I think house hacking is the way to go if you don't have a ton of cash on hand. It just allows you to free up so much cash.

If you have a ton of cash on hand I would say pick up some multi family.

Congrats! I started with the same motivation to become financially free. Love seeing more people invest in real estate!

I am no CPA, so I would get a hold of one of them. But I will say that with my rentals I just have a separate checking account that way my personal and rental funds are separate.

This is super inspiring! I'm in the process of looking for another SFH.

Originally posted by @Mark H. Porter:

There's a few phases - 

For info for buying, you'll need Leases and terms, breakdown of costs (what is tenants responsibilities and what is landlords), breakdown of CAM (Common Area Maintenance), each units price per square foot, tenants revenue to rent ratio

Once you go into due diligence, you'll need balance sheets, surveys, P&L, and tenants' sales reports for two years. lease docs and amendments including any statement regarding oral agreements, tenant estoppel agreeing with what you've been given, any open permits or zoning issues, environmental reports (don't want to find out later an old gas station or laundromat was there before), owners current budget, a complete list of all property stating who owns what and who is responsible for the care.

Extremely helpful thanks so much! 

I am helping someone out that is looking to buy a commercial property. It is a strip mall with about 14 units with a cap rate of 8.37%. I am doing all the calling around to get all the numbers. I will be a property manager for him once he buys something. I have never bought a commercial property and don't know what information I need to get to relay to my buyer. Anything helps, thanks in advance.

I am helping someone out that is looking to buy a commercial property. It is a strip mall with about 14 units with a cap rate of 8.37%. I am doing all the calling around to get all the numbers. I will be a property manager for him once he buys something. I have never bought a commercial property and don't know what information I need to get to relay to my buyer. Anything helps, thanks in advance. 

I am new to real estate investing. A friend and me want to find a duplex preferably so we can start by house hacking. After reading Craig Curelop's book The House Hacking Strategy we were convinced to give it a try. We have the money for a 3.5% down payment. But, we would like to find a realtor before getting pre approved. We are new but we are fast learners. We are dedicated to finding a house hack and are willing to put many hours into finding one. If you think you could help us out please let me know! Thanks in advance!