All Forum Posts by: Daniel Sager

@Greg Dickerson thanks for the reply sir. That's what I had thought I had been told by a local lender. Not opposed to syndication but am planning to be able to go solo when the time comes just in case.

@Greg Dickerson

Even with up to 30% down, banks still require a net worth that high? I knew NW was taken into consideration along with needing to have a certain amount liquid but being worth 1 million + having the cash for the DP AND reserves seems nuts. I am looking to break into multifamily commercial in about 5 years myself and I'll have the liquid + DP but will likely not be worth a million lol. Who would one go to for financing that would be more lenient? I'd want to do this without partners if possible.

@Travis Oakes yep and I'd suggest researching different methods. Sound attenuation is a science and there's a lot to learn!

@Travis Oakes I bought my second property in September and it is a side by side duplex that I'm occupying. I was stoked to not have to worry about much tenant noise. I didn't realize until I had my new tenant move in that there's zero insulation between the common walls and the closets are only separated by "sound board".

There's a ton of information online about techniques and products to use to mitigate this and I have a plan together I'm going to execute over the next few months that involves STC rated drywall and channels. I'm also going to inject cellulose into the stud bays.

This is an issue that I can personally live with but I know it will be something that will come up once I move out and fill with a tenant so I'd rather address it now. I already deal with noise complaints from my other property as it is!

@Brian Burke thank you for sharing these articles. Very well written and helpful.

@Ricardo Taveras

Grats sir! I agree with the others; buy as soon as you can and are comfortable doing so. I am in a very similar situation as you. Current 4plex which I purchased in the fall is on an FHA and I am about to close on a duplex which is being financed on a 7/1 ARM portfolio loan.

In my opinion, going conventional for a 4plex is a tough call because you have to put down so much $, you may as well save up a little more and get a commercial property...which is exactly what I plan to do next.

@Ronald Rohde thanks for your input. And yes, I would be purchasing alone ideally so I would definitely need to put together a solid team.

Thanks for the recommendations gentlemen! Much appreciated

I am about to close on my second multifamily in a few weeks. My current plan is to sell both properties within about 6 years and us the proceeds to purchase a large apartment building on my own. Depending on what the lending climate is like when the time comes, I should have enough liquid to have the down payment for a 1 million dollar building (depending on what lenders will be requiring for reserves).

I understand that the commercial world is a very complex one so I want to start learning now so that I can plan for the next step.

Looking for suggestions of books to read and steps to take to prepare myself for something like this when I'll be likely going it alone.

Any tips appreciated!

@Marcus Johnson

I'll throw in my 2 cents as someone that used to listen to him daily for several years as I drove a lot for work.

I think his plan is the best *generic* plan for most 9-5 folks. He has a large platform to speak out against consumer debt and a lot of people have never heard that message in their life.

I use a mixed approach as do most folks on here.

I have 0 consumer debt and own rental property. I've done a couple flips and have a large cushion to where I am not worried about this bump.

Had I followed the DR plan to a tee, I wouldn't be anywhere close to where I am now with a massive potential for growth.

Personally I have stayed away from STR because it can be a volatile investment during recessions regardless of the reason.

Most people don't have the desire to invest in RE and for those people, his plan is the best path for them.