All Forum Posts by: Charles Kao

@Jason Woodford Sign up for a mobile home park course. Way cheaper and will answer questions a lawyer won’t be able to answer. You are getting way ahead of yourself.

@Taylor Shuff

Who do you trust?

Who do you find yourself learning

something from whenever you listen to them talk?

@Taylor Shuff

Find a partner. CRE is not something you can jump into and learn as you go as there is alot more depth than residential and if you make a mistake it gets magnified many times over. If you are really looking to purchase that soon I'd consider paying a mentor as well.

@Creighton Biddick

Being specific helps as far as working with others because if you give no parameters you can look unorganized and obviously some areas have more potential than others but your realtor can help with that.

@Sawyer Scott

Househack and go for 3.5 percent FHA financing

@Christopher John McCarthy

If you want to get a job in commercial real estate that will help you the most I would try for an analyst role at a big box

brokerage.

@Christopher Vu

I would contact local

lenders first. SBA underwriting can be a pain and although recently been much better for rate, fees and prepay I still

prefer conventional because of the flexibility. If. you absolutely need 10-15 percent down then do it but long term I think you may benefit going conventional.

@Creighton Biddick

I’d keep it simple and find the best deal you can. If you starting creating parameters you could

pass up a deal that does not meet them and ultimately you want your first deal as a househack to be as successful as possible. If you do it well you only have to live there a year before you get your next and keep buying more.

@Sean Sloop

If you choose a quality minisplit specifically that can withstand cold weather you won’t have issues. Cheaper models, ones with exposed coils and if tenant is excessive with use causes freezeups but I think they work much more efficient in small spaces like studio and 1 bedroom apartments. Also using the defrost mode is helpful is well if the minisplit offers one.

I would talk with a local agent that you trust to guide you through these questions. $1600 a month above with 10% is not likely happening as it's multifamily financing so you are either going FHA or 15% down at a minimum but more than likely 25% down and also your numbers don't factor in management, CAPEX, and vacancy so it's not like you will cashflow $1600 a month.