All Forum Posts by: Elena Orselli

Hello. We are building in Cape Coral FL and looking to put 2 new construction loans in place. Does anyone have a good lending institution they have been using. No Lima One, NMTC, Lending One, CoreVest, MK Funding, Toorak. I have used them or have relationships with them. I am looking to expand my network of lenders. 
And no brokers please. Looking for referral direct to lender

Thank you!

Elena

Hi @Nicole Masters 

First, we look on a macro level (cities to invest in) and then micro level (specific areas within that city). The cities must meet the criteria below.

Macro level: Rent to value ratios, Unemployment rate, Population growth, Major employers, Workforce diversification, Landlord tenant laws

Micro level: Crime rate, Owner occupancy rate, Vicinity to retail and jobs

In short, we are investing in landlord friendly markets with high rent to value ratio, positive population growth and opportunities. Within that, we select areas with low or no crime, which are close to jobs and to the downtown core.

There are a ton of great investment cities to invest out of state. But do your research within each city you invest in and get a pulse within the market. 

@Luke Westmoreland You have some great answers here but it seems you already know what you want to do. An option is to take it year by year. You can do both. Commit first to one year while working towards being a RE Investor in all your free time. Higher education is only beneficial if you have commitment. If you have a purpose in what you want to lean learn in school and make tons of connections than it is worth it. If you want to bum through and party, save your parents the money and agony.  

@Keith Tarasiewicz yes we invest in Columbus and Cleveland. The markets have both changed since we started investing in both. They are both competitive markets but great markets. Dayton and other sub markets are good too but I am not active in those cities. Happy to connect if you would like. 

Hi. I am in NY and invest out of state. 

So how to choose a sold market when investing in out of state? First, we look on a macro level (cities to invest in) and then micro level (specific areas within that city). The cities must meet the criteria below.

Macro level: Rent to value ratios, Unemployment rate, Population growth, Major employers, Workforce diversification, Landlord tenant laws

Micro level: Crime rate, Owner occupancy rate, Vicinity to retail and jobs

In short, we are investing in landlord friendly markets with high rent to value ratio, positive population growth and opportunities. Within that, we select areas with low or no crime, which are close to jobs and to the downtown core.

Some good markets  - OH (Cleveland, Columbus Dayton, Cincinnati) ST Louis, Memphis, Detroit. Also sunbelt states - Alabama is our next market. 

All good markets are saturated and will become saturated quickly, but don't let that stop you! There are great deals for everyone. 

@Sivakumar Kareesan A great way to start with MF investing with a 4-6 unit property is perhaps to JV with someone who is an experienced investor. If you bring the deal or the capital you can set up an easy JV agreement and then learn from them.

If you are looking at larger buildings 40+ units - a great way to start is to be a Limited Partner (LP) in the syndication (You own a share of the asset based on your contribution). This is a passive income play and based on the property performing well, distributions are typically paid on a quarterly basis. Limited Partners receive what is called a preferred return and an equity split and also benefit from tax advantages such as depreciation. If you have questions, feel free to reach out! 

@Marianne Lopez-Henthorn Yes! Real estate will always hedge against inflation. Buy right, change strategy, know your numbers! Underwrite your deals tight.

Hi @Kelly Cynamon. I am in NY so similar situation. 
We are investing in landlord friendly markets with high rent to value ratio, positive population growth and opportunities. Within that, we select areas with low or no crime, which are close to jobs and to the downtown core
- Columbus, Cleveland, Memphis, St Louis, SW Florida. Looking at Detroit, Birmingham
Good luck, Have fun! 

@Laramie Allen Sounds like you are in a good position. Another option is to be a passive investor in Multifamily apartments. If you invest as a limited partner in syndication structured deals you would own a percentage and your investment will make you monthly distributions.  

Your distributions would be through a preferred return and equity split. And then when the property is sold in 3-5 years you get a large big payout in the form of a shares of the profits. In In addition to cash flow and appreciation, LPs can also benefit from tax advantages such as depreciation and 1031 exchanges. 

I am happy to go into further details to explain this type of investment and if it would work for you. Have a wonderful day :) 

@Nellie Nedeoglo No I grew up there - I am in New York. Also an attorney state. But I am investing mainly out of state currently. Feel free to connect/follow me - happy to connect.