All Forum Posts by: Jake Kain

@Ibrahim Yamini

I would recommend Arizona School of Real Estate and Business. They have both online and in person options, last time I checked. They will also have everything you need to become an appraiser as well. I went there myself back in 2017, so it has been a few years. I have had a few friends go through RE and appraiser school there and I have always heard good things about it.

Good luck!

https://www.asreb.com/

We just closed on a triplex in CG earlier this month. JV partner with a family member of mine, I represented them as the Buyer's agent and now we are working on having the deed transferred to our LLC.

I was not originally looking at Casa Grande as an option, but I never made boundary limits on my search. This one came up in CG and it was far better cashflow than anything we had analyzed in Phoenix recently. Advertised as low rents with m2m tenants but we checked into everything during our DD period. We are averaging $750/unit and only bringing in $140 over PITI on actuals. We have a plan in place to have rents up to $1,200 by July based on comps/pro forma. The units were all renovated about 5 years ago and need very minimal, even in the event of a tenant turnover. I would be happy to share my numbers in a few months once we are stabilized.

I have a friend that really believes in the CG market and I knew he and his Dad were investing down there. Some of the things they are working on, plus doing my own DD on the property we bought, I feel very confident in our project and the market down there. It helps that his Dad has been an investor and Broker for many years and my friend is an appraiser and investor.

Right on man! When you say raising capital to purchase rentals are you talking larger multifamily? Syndication? Or partnering with equity partners/investors? Or if you are exploring all the options, there are plenty of great meetups here to dive in. The largest multifamily meetup in AZ is virtual and they are starting to expand with chapters in other states. Check them out https://www.facebook.com/group...

@Dallon Schultz is a member on BP too and always posts their events here as well. He has done a fantastic job growing a successful meetup and also offers masterminds, real estate and performance coaching as well as courses to help you accelerate your multifamily investing career. Totally unpaid plug, I have participated in all of it and I truly think it is one of the best places to plug in if you are ready to go all in!

Feel free to reach out and let me know if you need anything as you get started! 

@Nick Coons Hey Nick! I am no mortgage expert, so I can't answer with 100% certainty, especially on your first question about them looking at the single property vs business entity.

We just closed on a triplex, using a DSCR loan. From my understanding, they are only looking at PITI (and probably HOA if there is one, ours does not) in comparison to what it brings in in monthly rent. The property we purchased was fully rented so we had to provide leases showing the current rent. We are currently only bringing in about $140/month without taking into consideration any other expenses, cap ex, vacancy, etc. So we are definitely negatively cashflowing on actuals until we can get the rents up to market value. If the units were vacant, I am not sure how the underwriter determines "market rent" and if they use the full amount or a percentage like they do for calculating DTI.

If you want I can get you in touch with who I used, he is local here in AZ. He would be happy to answer all of those questions.

@Drew T Heberer I will send you a PM!

Welcome to BP!

Are you planning on moving out to Phoenix, or investing out of state? What are you looking to do in multifamily rental property investing? Do you have any interest in wholesaling again to build up more capital?

@Travis Shelton We have a few healthcare professionals in our FREEdM group. I will share this in our Facebook group. I am not sure all of them are on BP.

@Scott Kane @Jason Gilmore Another meetup for you guys to check out.

Each month we bring in a guest to share their experience as it relates to financial education and/or real estate investing. This meetup will offer actionable items you can start implementing to reach your financial goals. We top it off with a book give away related to this month's theme and a ton of opportunity to network with others that are on their way to financial independence! We welcome members of all experience levels.

This month, our guest speaker is Brandon Bettis! Brandon was born and raised in Phoenix, AZ and attended Arizona State University. Upon graduation in 2005, he joined the United States Army and served as an active duty Infantry Officer until 2016. During that time, he got married, had two daughters, deployed to Afghanistan and held various leadership roles within the Army. In 2016, Brandon and his family moved back home to Peoria, AZ and Brandon started his career in financial services. Brandon focuses his time and energy in “helping others that want help”. He accomplishes this through holistic financial planning, mentorship, peer counseling, and faith.

This month's agenda:

1. Topic of the month: Financial Planning

2. Seeds for Growth: Resources for building a solid financial foundation

3. Fuel for FIRE: Mindset and Motivation

4. Book giveaway: Cashflow Quadrant by Robert Kiyosaki

5. Open Networking

Please RSVP and reserve your free ticket through the Eventbrite link provided. We have reserved the Barrel Room for this private event. This space has limited seating and we want to ensure we have enough space for all guests!

https://www.eventbrite.com/e/2...