All Forum Posts by: Evan Bell

We have an appraisal on our triplex scheduled for today between 10-2. Anxiously awaiting the report as it will determine HELOC amount. The HELOC will be used to find future investments. This is the first appraisal we are getting as investors on one of our properties - hoping they get easier the more of them we do. I have to admit I’m a little nervous....

@Adam Tavares, glad you seem open to other viewpoints. Personally, a SFR seems MORE risky to me than a MFR. Just think about the fact that each SFR is a separate deal/loan. So 10 units equates to 10 separate deals and 10 separate loans. If you have 1 unit vacant, you have 100% vacancy for it and all the sudden you have a substantial payment that must be covered either by cashflow from your other units or from your W2 income. If you have one 30 unit MFR, it is only 1 deal and 1 loan. You can have, for example, 3 units empty and only have a 10% vacancy and shouldn't be struggling to cover the payment. In transactions of this size, the loans are based more so on the income the property produces rather than your personal ability to pay the loan - which is the complete opposite of loans you'll find for the SFR properties. Check out the Michael Blank podcast and The Old Capital podcast - they are both solely focused on multi family investing and are just as informative and educational as the BP podcast. Good luck to you man!

Not knocking your plan at all, just wondering why you want to acquire 10 SFR and then a 30+ MFR. Why not got for the MFR as the first deal? You'll need a lot of capital for either one, so why delay the MFR purchase while you satisfy the SFR desire?

I've never used them, but I've heard good things about Lima One.

It can be as hard as you want to make it. If you are smart about it and make decisions based on THE NUMBERS instead of emotion or "a feeling", you should be fine. Investing is about multiplying your money, right? So let math be your roadmap.

Richard Biechler congrats on the success! Right now we are sitting at 3 units and looking to start expanding before the end of the year. It's inspiring to read that 1-54 units in less than 12 months is that possible. Thanks for sharing!

@Shiloh Lundahl, address? I will try to make it. My wife and I are leaving for a three week European vacation on Friday morning - if I can sneak away from packing for a couple hours tomorrow night, I will be there.

Can anyone recommend a yard maintenance person for Lucerne Valley, CA??? We have a duplex that needs basic yard care/maintenance. Our current guy has proven to be quite flakey, and we are in need of someone we can trust to get the job done when they say they will. If you know of anyone who can help us out, please let me know!! Thank you!!!

@Michael Seeker awesome, thank you! I will let him know.

My uncle was asking me this question the other day, and I wasn't sure of the answer.

He asked, "If you lose money on a flip, can that loss be written off similar to how losses in the stock market can be written off?"