All Forum Posts by: Hendra Lim

@Hendra Lim Welcome to the Indy family Hendra, hope you find exactly what you’re looking for here on BP!

@Hendra Lim I don't know much about Jacksonville, but if you are interested in Indy, there is a Facebook group that is just for Indianapolis Out of State Investors. Great place to learn and network

https://www.facebook.com/groups/260862967817696

There are plenty of good markets out there with different types of opportunities. I think that the most important thing is to build a good team in one of your chosen markets (acquisitions, financing, project management, property management, etc.) Different cities/markets have different strategies that work differently as well, so ensure that you are listening to your team and understanding some of the nuances of that market. An Israeli associate of mine was telling me how they flopped a big development project in Birmingham because the design they chose was hip/trendy in Israel, but unappealing in Alabama and it was never as profitable as it was planned to be. I recommend visiting your target markets, meeting prospective members of your team, driving (and walking) neighborhoods and homes, and get a feeling for the city and its people.

@Hendra Lim  I suggest you verify the numbers, but also check out the company and people involved as thoroughly as possible.  I was fortunate that I first started with turnkey I picked a company that has built an excellent reputation for integrity and effectiveness.  What would I do differently: I would have bought more properties from them early on - back in 2013.  Now, I don't think their prices warrant the risk of investment.

@Hendra Lim Welcome and good luck! Love that you are jumping right in to multi-family. A lot of people on this site will tell you to start small to gain the experience. While every person is entitled to his or her own opinion, I believe that if you are educated, you can and should go as big as you're comfortable with.

Would love to hear more about your strategy and how you plan to deploy capital. What are you looking for specifically? 

@Hendra Lim Welcome to the forums of BP and to starting your REI adventure! When you say multifamily are you looking for residential (2-4 units) which can be conventionally financed, or something commercial 5+ units?

Welcome to BP Hendra and best of luck investing!