All Forum Posts by: Goanar Mar

First and foremost one thing I know as a new real estate agent is this business is heavily predicated on building relationships which is something that takes time and can not be rushed. I got into real estate because of wanting to invest for long-term wealth but ended up also getting my license and currently working as a Realtor. I have a question for investors out there!  What are ways that Realtors can add value to you? Also what bad experiences have you had with investors? What did they do or not do for you that made the experience that way?

Goanar Mar

Keller Williams Preferred Realty

The bigger pockets community has been nothing but amazing for me thus far. I have not posted a whole lot but learned so much within the last 1-2 years from listening to podcast, reading books, and posts. For a while I’ve been in the analysis paralysis phase trying to figure out where I should start. I’ve completed the necessary requirements to obtain my real estate license and should be licensed within the next two weeks after everything is filed and processed.

A real estate license is not necessarily a must for someone that wants to invest in real estate, but I felt like it would be a great in for me to be around real estate and to learn the ropes. Along with obtaining my real estate license I’ve been working on increasing my credit score to pursue a house hack within the next few months. I graduate in May and thankfully to my athletic scholarship I will have no college debt to pay off. I 100% plan to get into commercial and multifamily investing in Minnesota then throughout the united Sates but getting there is the difficult part. Part of me feels as though I need to take my time and start with owning a duplex, triplex, or 4-plex while renting out the other units. This is attractive because it’s a slow game where I can use very low money down loans to slowly build wealth. Then eventually show investors what I’ve done at a small scale and ask to use their money to do this at a much bigger scale and give them a return. At the same time, I feel I can even start bigger, because over the years between life and basketball I’ve met some great wealthy individuals that would love nothing more than to help me while I also help them get a great return on their capital. My questions for anyone out there reading this post are do you have any good insights on being an investor friendly agent? Are there any investors in this area looking to get into or that own commercial and multifamily properties that would like to connect? I am also open to just anyone with open insight on where to go from here and hopefully I can add you some value to you as well!

I’ve started to practice analyzing deals one thing that I haven t been sure about assessing is when to sell or refinance a property? Obviously I know this can be a very personal decision but let’s say there is a commercial or residential property that you purchased and held onto for awhile. Also let’s assume things have went according to plan (which they rarely do) but you’ve added value and collected a steady cash flow as well as paid down the mortgage so the equity continues to steadily build. Is it based on your initial investment ? Or what is a good rule of the thumb for when to sell and move on?

That makes a ton of sense the idea definitely sounded simple but definitely has many different factors that go into it. Also seems like something that most investors get into later down the road after building some creditability over time.

I recently read the book “Investing in Real Estate with no and low money down” by Brandon Turner and one question I had about syndications is I know the limited partners generally pay for the down payment and different fees but in terms of the loan itself from the bank do the general partners apply for that as a business loan? Do they need an L.L.C? Also is it common to use syndication to purchase different types of commercial properties like shopping centers and office centers?

For any realtors out there I wanted your perspective on obtaining my real estate license while I am in college so once I graduate I could potentially get right into working with a brokerage.I feel like this is something that I could bring to the table in terms of my goals for after I graduate. Am I able to do the 90 hr pre licensing all online? Also do I need to have a sponsoring broker decided before taking the final exam and Minnesota Real Estate Exam? 

As a new investor one thing I think that will help me that was recently introduced to me by another investor is a spreadsheet that can analyze potential deals for me. For example being able to input different numbers such as expenses, down payment, rent, or etc. Then having the program automatically calculate the numbers inputted to give me back what the coc return is or what my ending balance each month should be. I have a decent idea of what some of the things for expenses and what some of the numbers should be but struggling to find other things like what current interest rates will be and the equation. Also calculating things like cap ex costs. Does anyone potentially have any helpful videos or books that helps to explain?  Or would you say I hand write it out at first to try and understand all the different expenses and calculations?

Thank you for the support! Where would you guys think is a good place to start? From what I’ve researched figuring out finding is where many people fall through. Would you suggest at looking at different loan options and what i would be accepted for or start looking for potential properties? In terms of the first property I’m thinking a duplex or triplex potentially a 4-plex but that would be a little more difficult. In terms of the loans options the fha, specifically if I could find a fixer upper and use a 203k to fund deal and rehab would be ideal. Am I far off? What are your thoughts?

Hello, My name is Goanar Mar and I am from Minnesota, but currently attend the University of Northern Iowa and play basketball there. I have one more year until I graduate and will be playing my last season as well. I am currently in the interdisciplinary program with minors in coaching and sports administration. My family is from South Sudan and moved here right before I was born, being a first generation immigrant, and my mom not being able to speak english we’ve had our fair share of struggles over the years. We have been in all types of living situations from section 8 to my mom finally owning our first house. Through that struggle I stayed focused, worked hard, and remained disciplined earning a division 1 scholarship and having my college education paid for. I recently read “Rich Dad Poor Dad” by Robert Kiyosaki, as many of you have. This opened my eyes to the endless possibilities real estate can bring such as financial freedom and generational wealth. I’ve also read “Rental Property Investing” and “Investing in Real Estate with No and Low Money down” both by Brandon Turner, which I would suggest to everyone! As well as reading I’ve listened to many of the bigger pockets podcasts which has been so helpful in getting familiar with terms, ideas, and my vision.

I plan to start with small multi family properties in Southern Minnesota as a buy and hold investor and collect the cash flow. I want to eventually build up and own 24 unit apartment complex then see what I want to do from there. That is not the end goal but just where I want to eventually get too then who knows what I’ll want to do then. The most important thing to do now though is to get started and take the first step.I genuinely believe you can achieve anything in this life as long as your willing to put some work into it! If anybody has any guidance or words of wisdom I’m all for it. Also I would be interested in starting a small group to talk, update, learn, and communicate with each other about our real estate adventure!

God Bless! Wish you all prosperity and peace of mind!