All Forum Posts by: David Parathundil

Hey Ritu, I plan to acquire STR and LTR multifamily properties this year. If you are interested in investing passively DM me.

Well the ones that summarize all the stuff said in the podcast are the BP books. The ultimate beginners guide and other books by Brandon Turner are good to help you see real estate as a whole to help you decide what niche you want to focus on. For mindset about money Rich Dad Poor Dad and richest man in Babylon. Here are some books I read in September that were good. (I apologize for the messy writing)

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I still have yet to get my first property but am on track to get multiple this year. Start out by reading as many books as you can on real estate, business, improvement, and mindset as first you have to change your mindset from thinking like an employee to an investor. Listen to the BP podcast anytime you are driving, going to the gym, or whatnot. While you're in this phase of researching work hard and long hours to save up as much money as you can. Cut spending on frivolous things and try to reduce your expenses by househacking.

Then network, reach out to all the people in your circle and ask them to help you get connected to anyone involved in the real estate space. Also reach out to as many people doing the things that you want to do in real estate. If you're interested in rentals try to find someone focusing on that niche. Networking is a very crucial thing to find partners, mentors, and friends to surround yourself with. 

My long term game plan is to buy multifamily properties and BRRR them. For the FHA loan, I can leverage my money very well so I would 1031 the first smaller property to a bigger property when I have the income to qualify for a loan that size.

I am exploring the option of using my sister as a partner but her DTI ratio may be too high. I am 20 with no spouse or anything tying me down to a specific area. I would 1031 to funnel into a larger property such as from a duplex to quadruplex.

If I get an FHA loan myself the property will be around 300k but if I partner with a cosigner I can get up to an 809K depending on the partners income after debt monthly. I plan to househack the property I get and am looking anywhere in Florida, but mainly in the Tampa Bay Area. Would it be better to get the property myself and 1031 it after a year or find a partner and give up equity for the larger property?

Can I please have access to anyone of your calaculators?

Hey George, I would like to attend. Can you please pm the info?

I am trying to learn from other people's experience and wisdom. I plan to attend all the meetups here in South Florida but I want to do more networking. I would love to meetup other investors for lunch to talk about our goals and experiences. I am really interested in speaking with professionals who have done the syndication model before, as that is something I am personally finding myself more interested in daily. I would also love to talk to CPA's, tax specialists, attorneys, and anyone in the field of real estate to grow my network. I am located in South Florida, in Davie near Fort Lauderdale. I also would like to hear from people if they would be interested in a meetup in Fort Lauderdale or Pembroke Pines, if so I will create one. 

I am in the process of forming a partnership and I need an attorney to draft up the paperwork. I live in Davie, Florida which is in the South Florida; I would really like to hear of a lawyer that investors have previously used and it went well. I will really appreciate some replies to this post as I am trying to acquire my first two properties and need this paperwork to get started.