All Forum Posts by: Ceasar Rosas

@Rebecca Almonte

Hi Rebecca,

It's great to see you taking your 1st steps. IMO, if you are savvy about real estate, know your numbers, and have construction knowledge, then working with a wholesaler is fine. But don't work with just 1, make sure to have multiple contacts and make sure they are direct to seller. YOU must verify all numbers, and YOU must make sure to have all your ducks in a row because the wholesaler will likely not help you with that. On the other hand, if you feel like you need some hand holding on your 1st deal, definitely, definitely, look into working with a realtor to help you with the process. A good realtor will walk you through the process from A-Z.

Who is investing in Multifamily in Cincinnatti and has time for lunch or late lunch tomorrow? I'm buying. Interested to learn more about your market. Investor or Realtor in the area. Also looking at Louisville, Lexington, and Indianapolis. 10 to 30 units.

@Alex Kiot 

My man Alex, that is awesome. You would be wise to start in the Bronx. Great property taxes, has been steadily inclining year over year, and still remains the most affordable borough. You don't have to pay for bridges and tunnels and you can reach practically anywhere in Manhattan in under an hour. The city keeps pouring redevelopment money in. If you shoot for a 3 family, you can practically live mortgage free. If you can afford a million dollar home and it makes sense, why not do it? As long as you have a good team in place you will be more than fine. For example if you find a million dollar 3 family in the Bronx where tenants pay all utilities, you can practically live payment free if you take the smallest unit, or even a nice basement apartment. There are great areas in the BX and are serviced by trains or express buses. 

@Shanece Adams

A lot offff great advice here. I'll throw my 2 cents in. Why not just become a commercial agent and go work for a prominent commercial brokerage team in your area? That would be much more valuable to you than wholesaling commercial with no experience. You can still go after the seller, but instead of a wholesale fee you get a commission. You would have a mentor that wants you to win and you will get training. Wholesaling is not as easy as gurus make it seem. And dependant on your state and area, there is a lot of gray area. I highly believe that to truly build a wholesale business, you either have to have a lot of time and be able to spend at least $1k/mo on systems, or have no time and spend upwards of $5k/mo on systems and a VA. It can be lucrative, but like anything else it is work. I just believe as a Realtor you can provide a seller with multiple options and make money either way. Just my 2 cents. Good luck!

@Aleksandar Milosevic

1st is your area title state or attorney state? If it is a title state where a realtor draws up the contract use a realtor, if it is an attorney state use an attorney. 

Now if you go with a realtor ask them to charge you a transaction fee, usually 1 to 1.5% of purchase price to handle all the paperwork and guide you through the process. Let the seller know that you would like to offer them whatever amount you think is fair including a seller concession of the 1 to 1.5% of the purchase price. If you can pay it out of pocket go ahead, as you are going to pay for it regardless. Be clear with the owner that you are using that concession to pay for your realtor to handle all of the transaction. You can also ask the realtor to verify your numbers. 

Interesting news piece. I'm currently looking at the Louisville and Lexington markets for multifamily units. Looking for Realtors to connect with. 

Looking to jump into the multifamily market in Louisville, Lexington, Cincinnati areas. Any brokers on this thread or people interested let's connect.

Send me the details. Email in signature. 

Hey Everybody! 

Reminder, tomorrow at 7pm. Zoom meetup, networking event. See you then.