All Forum Posts by: JJ GONZALEZ II

Charles

Investing is a risk, multifamily is simply a different form of risk.  You don't mention how large a unit you are talking about, but as an example we are buying a 50 unit in the Midwest.  When we did our roof inspection 3 of the 4 roofs need to be replaced at a cost of 64,000.  That's a lot of money,but had we not caught it now in a year or two we would have had to take perhaps all of our cash flow for the year to replace them.  Things happen when you rent a property, toilets brake, sinks overflow, glass brakes, you need to replace a hot water heater.  Insurance doesn't cover most of these situations.

Make sure you have a good cash on cash return and that you put aside a good amount monthly for capex (capital repairs).  The last thing you want is to have a major repair and not have the money on hand to handle it.

Regards JJ

charlie

welcome to bp,  i am looking in ohio there you can actually cash flow, you could also invest with a syndication.  you take a small piece of a larger deal.  as an example if you 100,000 and the syndicator is buying a 5 million dollar property he may need to raise 2 million you would buy a piece of the pie, and get a preferred rate (around 8% per year) and participate in the profit when the property is sold

JJ

thanks Abhi,  I was trying to solicite the opinions of investors from Long Island that have found a good attorney.  Yes I understand I can attend meetings and shake hands with the movers and shakers in my area.

Thanks for the shout out

JJ

Armand

I am originally from Philly but live in New York now.  Philly is equally as expensive as my market, and the cash flow in most cases is also elusive.

Good Luck

I am looking for a r e attorney in Long Island New York, someone who is familiar with setting up an llc in New York State

what do you have in multi family in philly'

JJ

Judy

Do you a good attorney in New Jersey you can recommend. One that is familiar with working with r e investors

Thanks JJ

Gino

Where are the properties that you invest in.  I am on Long Island and we simply don't have any that cash flow

JJ

I am looking for a qualified property manager in Wildwood New Jersey for a 20 unit multi family.  also looking for a investor friendly Attorney.

thanks JJ

purchase price about 2million would work