All Forum Posts by: Javier D.

@Riley Holt

@Dennis M.

X2 what Dennis said.

Its fine to chase these but to think that A. They’re willing to sell to you

Theyre willing to sell at a discounted rate

They are even looking to sell is slim.

Id apply that passion and willingness to a larger pool of properties.

How can you get funding if you dont know what theyll sell for or if theyre even willing to sell.

Organize the order of steps in acquiring properties.

If theyre worth 100k what is your offer?

60k/70k? Ok can you get funding at that ltv? Yes? Ok whats the issue? Following me?

Those properties could be in probate or have 200k worth of liens or 100 other issues.

@Jerell Edmonds

Like others have suggested I would invest in a few good books and familiarize yourself with investment calculators to evaluate properties. I think any property is a good way to start as long as you buy right. I started with single family properties. If i had to re-do it all over again , I think I’d start with 2-4 unit properties.

@Charlie Stevenson

What is the point of this post?

@Jeff Cagle

Can you link to a couple of those posts?

I see a little self serving ego stroke stuff happening but with some real deal good advice with it. Im ok with that kind of thing.

I did see a turnkey bait post yesterday that made me want to jump off a sidewalk. Noi 26 dollars in a non appreciating market lol. That kind of stuff that can only get the unsuspecting investor in big financial trouble bothers me.

@Zachary Schimenz

This gentleman has made up his mind so my advice is for the readers considering this type of deal.

Dont justify a bad deal thinking that debt paydown by tenant and thinking real estate is fantasy land where a fully rehabbed lower class C property wont have a cap ex call in the next 48 months is true. Repairs have a minimum number you need to account for... 45 dollars is not that number. Debt paydown is great when your exit accounts for it. What good is debt paydown if you’re going to sell in the next 10 years having an upside down property. Go on the mls search 3/2 by low price.. spitball your screen and buy the one you hit and i promise you it will be better than 26 dollars a month which really means -150-200 dollars a month. Good luck guys.

@George Owusu

Please share some more wisdom. I dont know what id do without this great advice.

@Charlie Moore

Quarterly inspections.

Fast evictions

Good tenant screening

All done by employees not you so you can buy more of them.

Now your self managed class A 3 cap takes more attention than my C+ buildings from an ownership standpoint.

@Steve Corder

I have 60 doors, 48 being multifamily and can relate to where you are now. The return on leveraged multifamily is higher and looks prettier on paper but there are pros and cons to both.

I would put the math on the back burner for a minute and look at what your goals are.

My goal was to have 50k net cash flow without being overleveraged(75%+).

I rather have 39 units paid off than 150 units leveraged. Its hard paying off a 2+ million dollar mortgage as opposed to a 100-250k mtg on a sfr.

It really boils down to where youd like to be. I have a property manager for my sfr and one for my multis so its the same amount of oversight for both. The multi take more attention obviously.

What I did was 1031 3 houses (600k) into a 40 unit.

1031 1 house into 2 duplexes side by side and another house and some capital into two side by sode quadplexes.

I will be keeping minimum 10 sfr thst are paid off. I dont care about IRR , coc , cap , dcsr bla bla at this point. Anything happens and I have cashflow and reserves to weather any market volatility or interest rate issue once refis are needed on the commercial property. I hope my point got across. English is my second language so my grammar might be a little off.

@Kim Hopkins

Whoever arranged it would be the one invitating. I fight to pay anyways though. A small price to pay to express gratitude. Congratulations on your closing.

@Robert Collins

Buy the c class, value add and 1031 into the b class.