All Forum Posts by: Jessie Niu

Set up alert word "apartment", then you will find out.

@Joel Owens, how about commercial loan broker? I don't think they need to be licensed? I've seen many programs advertised online for teaching how to sell commercial loans and find clients. They are quite expense, usually range from $15k to $25k. But it says it's a very lucrative business.

I am owner-occupying my duplex now, the other side is paying for my mortgage, then I have other duplexes, so my expenses are minimized. My freedom# doesn't need to be high, I plan to quit my W2 job in three years, and become a full-time RE investor. My "Why" is strong enough to motivate me, I'd love to have more flexibility and free time to spend with my daughter and parents.  

1. Get private funding for 25% down payment, it's very common when purchasing apartment building. If the deal is as good as you stated, then you shouldn't have a problem finding private investors.

2. Where did you get that $1M value from? The seller? or the deal analysis you did?

3. Get a partner who's strong in business side. 

1. Stick to your plan owner-occupying the duplex, which is one of the best strategies to start out. I currently owner-occupy a duplex and own other duplexes. I am loving it. Nothing is better than having other people pay your mortgage.

2. I would not inherit this tenant. Don't get the deal unless they can get him out.

3. You mentioned about double-down, how do you get financing while waiting for this one to close?

4. I wouldn't rush into a deal just because of the current living conditions. I had to extend my lease with the apartment complex I stayed too while purchasing owner-occupied duplex. It took me whole year to find the ideal one.

Congrats! btw, @Andrew Campbell, are you the syndicator/sponsor of this deal? How many private investors did you bring on board? What's the before and after cap rate?

Congrats! Who's your mentor, just curious :)

yes please share some numbers on the deal.

btw, Dallas is a great market!

He said apartment complex 15~50 units, won't be on MLS.

@Eric DeVito, I suggest you check with LoopNet, then contact one of those commercial agents. Don't waste your time on residential agents if you are serious about apartment building.

Of course Columbus. Columbus, Cininati, Dayton, are some of the best areas even in the country.

Setting up LLC is the easy part. In your offer, you can state "entity to be created..", most sellers understand that an LLC will be created for this deal.

I agree that a LOI is a good idea.