All Forum Posts by: Devonte Dinkins

@Al Williamson thank you for the reply. I am looking to take advantage of some grants to complete the project as well.  What should my first step be, should I have a developer go out with me to the property I'm interested in? By the way I am a young property manager, and I love your Leading Landlord blog site, it's very informative and has really helped me out.   

I am interested in using a FHA 203K loan to renovate a Mixed-Use building. I am looking to have four residential units and two commercial units. Does anyone have experience with historical renovations? How does the process usually work?

@Daniel DiGiacomo The plan is to eventually start my own business in the space, or possibly get a corporate long-term tenant like starbucks. The initial plan is to live in this Mixed-use property without paying rent by having the residential tenants cover the full mortgage of the entire building, including the commercial. I want to know how to value the property, would it be valued as a commercial or residential when I am looking to buy?

Good Evening BP,

I am working on targeting a market as young investor and I feel like I will begin with Small-Mult-family buy-and-hold, specifically Mix-use in my area.  I would like to know the best ways to evaluate a small mix-use (Ex. 4 residential and 2 commercial), and the best financing options. 

A Like!! is the least I can do. 

@Wade Sikkink 

Thanks!  The 3 ways to make money that you mentioned are great reminders to keep in mind as I form my portfolio.  I think I have heard that about Warren Buffett, hard to argue with a strategy that brings in billions! 

@Curtis Bidwell Thanks great insight! These are the kinds of questions I would like to have to refer to as I begin forming my investing plan and strategies.  I appreciate the help.  

@Arlan Potter I am actually a licensed property manager, I think I will do well managing the property and I plan on holding them a very long time since I am so young. I am just thinking about the very far future. I want to be able to invest in larger properties or possible another area. Also, my kids may not be interested in real estate investing so they won't be willing to pay attention to the investments.  I  really just would just like to see what other options or strategies are available, maybe not necessarily a exit. 

@Jean Bolger I truly appreciate the response. I will be sure not to overpay as I see I could be stuck in a tough situation down the road. Thanks for the heads up!  I definitely plan on buying in areas that have a future plan for development and currently have a pretty good rental market, with good renters as well. I have never heard of Frank Gallinelli but I will be sure to check him out, I love reading it gives me a head start on my investing strategy. I appreciate the help!

I will be doing a mix of long-term and short-term buy and hold.