All Forum Posts by: Elena Orselli

@Nellie Nedeoglo SO much information on YouTube and Bigger pockets. I bought a few courses to shorten the learning curve, but if you are committed, you got this. 

1- Go to local meetings. Talk to as many investors in your area you can. 

2- Drive for dollars. you would be shocked how many properties are in distress. Knock on doors, go to fastpeoplesearch dot com to find their phone number and give them a call

3- Massachusetts is an attorney state unfortunately so it is harder to wholesale because you need an attorney to draft up contracts and then you need another wholesale contract. SO 2 things - 1. find an attorney who works with investors (IMPORTANT) 2. draft a letter or intent or something that will go to the seller when you are negotiating. You don't want them to accept your offer and then lose the deal when you wait for the attorneys. 

4- Maybe JV on your first deals with other investors to learn. Network and ask them if you can help them find deals. If you find a deal for an investor ask if you can be involved in the process so you can learn.

Just read and meet as many people as you can. Good luck and have fun!

Hi @Harrison Jones

Congratulations and happy to help. I am based in NY and have rentals in OH, MO, FL and TX. I am concentrated now in the OH and FL markets and actually sell turn key properties to investors like you in Cleveland. Finding the market you want to invest in is key. 

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.

Happy to connect if you are interested in the Cleveland market - we do a lot of work there! 

Welcome @Gerald Cameron!!

I invest in the Cleveland market. We flip, wholesale and also sell turn key properties to investors like you. 
I would suggest to talk to as many people  in the business as possible and go to local meeting. Start reading and absorbing as much as you can. Happy to connect with you at any point! 

@Greg Scott

Have you thought about texting in small specific lists? I like texting for a few reasons. You get a better response rate. People who say Not interested or take me off your list, you can eliminate them. If you were calling, they would just not pick up and you  would continue to waste your time. If they are interested, you can build some credibility and then quickly get on the phone and they are more likely to spend some time. 

I am on both sides of this. I own a lot of properties and get calls and texts all the time. They are both annoying, yes, But I have received a few texters who did it right on occasion and they almost bought a few of my properties. Text, if interested, have a human call back and then you can have a good conversation. 

I have texted for SF for a while but also started in large MF. People respond. Know the texting regulations though and rules.

 Good luck

I have a few deals we have now if you want to roll in your 1031 as an LP in a large MF - over 100 units. It is an option if you do not find something. Happy to connect further with you on how it works. I have a 1031 I am doing but we had to go from a 11 unit MF to a SF STR in Florida. It is hard to pinpoint a property in 30 days. BUT an option is to roll that money into a large MF as an LP.

@Zach Jones If you are going to go larger, you will want to buy through a Syndication or a JV.

*****A syndication is a vehicle where investors are able to pool resources to purchase investments together. *****

Much like the management of the asset, the funding of the asset is also better done in groups. The management team is called the General Partners and the investors who provide capital are called Limited Partners.

Think of this as a you are investing into a company. The company is basically split into shares and the amount that at investor invests in the “company” is the amount that they will own and that’s the percentage of profit they will make. 

Syndications allow you to purchase properties you would typically no be able to on your own and allow you to scale. 
On the GP team you will want - underwriting, asset manager, property management, etc. Start building your team and looking for deals. When you have an awesome deal, you will be able to easily build a team around it. 

If its confusing, a good way to learn is to become an LP in someone elses deal to get some insight on how large deals are put together. 

@Evan Rice It is always a good time to buy multifamily real estate 

Questions - With an increasing interest rate environment and troubling situation for some of the US (and European) banks, is this impacting investing in real estate? Should I wait it out to see how it all unfolds? 
Remember, real estate apartment buildings will likely continue to be of demand and appreciate over time, as it's been the case for a few decades. So it is about the deal you are buying. 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). 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.
Not only are we extremely selective on the deals that we put offers on, but we're extremely conservative in our underwriting which includes stress testing our deals, and preparing for the worst case scenarios both with interest rates and vacancy rates.
Multi-family investing can be complicated and requires an in-depth knowledge and expertise. So are we buying, yes, but you have to be selective in the market and then the deal itself. 

Multifamily provides so many advantages that it is our preferred asset class to invest in. 

If you have questions, happy to connect!