All Forum Posts by: Jessie Niu

I pay for their water and just add to the rent. The reason is that the owner is responsible for the bills if the tenants don't pay, unlike gas and electricity. Another reason is that I don't want to get into the hassle having to evict them due to some delinquent water bill.

Most states don't require a commercial mortgage broker to have a mortgage broker's license to negotiate commercial mortgage loans in their states.

My suggestion is to find a commercial brokerage office and become an independent agent to gain experience. There are online courses that you can take too. Books on commercial RE and Commercial Mortgage 101 can help you become familiar with the terms and so on.

Good luck!

Agreed. I can achieve that too in Columbus OH market. 

Awesome job at such a young age! Congrats! 

But I would not quit my W2 with a gross rent of $50,000 to live on my profit. I would let those profit grow and it would help achieve your goal faster. 

"250-300k in a multifamily 3+ apartments up to 750k-800k". I would use that $300k as 35% down payment for an apartment building with more units, then you would apply for a commercial loan in that case.

@Austin Fruechting

@JD Martin

very good points! But I think GC way of thinking can be beneficial to most people, because let's be honest and face it, most people need to be more concerned about not being motivated and not being able to set a big enough goal to reach your potentials , not the other way around. Most people never take risk/calculated risks and never reach their potentials.

@Redgy Saint-Germain

In reality, you need to read, learn, research, and figure out what you truly want in life, what your life purpose is, absorb the wisdom from the giants, and come up with the best plans and strategy to execute.

I think GC way of thinking can be beneficial to most people, because let's be honest and face it, most people need to be more concerned about not being motivated and not being able to set a big enough goal to reach your potentials , not the other way around. Most people never take risk/calculated risks and never reach their potentials.

In reality, you need to read, learn, research, and figure out what you truly want in life, what your life purpose is, absorb the wisdom from the giants, and come up with the best plans and strategy to execute.  

Yes a qualified PM will definitely help. My personal experience is that a well-prepared presentation makes a difference too in terms of applying for a loan.

You offer whatever you come up with after calculation regardless how much he asks. $1.049MM is definitely overpriced. 

 I am with you on this. For where I am now, very likely I would use them as down payment for an apartment building instead of being a passive investor in a syndication deal.