All Forum Posts by: Diem Tran

@Account Closed Thank you for your responses!

@Franklin Romine You're giving me more credit than I deserve! I'm a newbie and pretty intimidated  by all this. I'm a photographer trying to learn real estate. Whoever said "there's no such thing as a stupid question" , never heard mines yet....

@Joel Owens thank you ! 

@Joel Owens   The 15% down payment you're referring to , is that the sellers note plus my down payment equals 15% down  , right?   Thank you so much for all your responses to my other questions too! I appreciate it :)

which do you prefer ? class A MF with a slightly lower cap rate or class C MF with a higher cap?

@Joel Owens @Jeremiah B. @Nick B. @Victoria Winters @Louis Rodriguez @Jack Martin  Thank you for your responses!

@Michael Henry thank you

@Michael Henry being conservative, how much would you set aside as cash reserve?

@Steve Olafson Im sure you seen this one and passed on it already. Its MLS # 5153441

Why did you pass on this one? I was told that these are actual numbers, though Im not sure.  Also, Steve, could you please tell me which ones caught your attention at first but didn't make the final cut ?  I'm just curious on what savy investors are looking at.  Im embarrassed to admit this, but I always look at the physical appearance of the property first then the numbers.  Ugly ones never make the cut for me because I wouldnt know where to start with rehabs. I rather buy one thats up and running like a well oiled washed and waxed Harley Davidson. 

I'm working up the nerve to invest in a 60+ MF in Arizona. CAP is about 9% ( with property management) which sounds pretty good compared to 6% in Miami, where I live. I have next to zero experience in MF properties and will definitely have property management do everything. I really like to hear your thoughts on this, especially if you invested out of state and had PM on board.

I thought about investing in smaller properties or even something closer to home but again I don't have any experience and would need a PM anyways so wouldn't economies of scale work out better on a larger property with a higher CAP rate especially if I have the capital for it? I've always thought it might be wiser to buy a property that I could readily get to . But then I ask myself, why is that important if I don't manage it myself anyways?

Please help.

Confused and Not even a rookie yet