All Forum Posts by: Joe Kasprzyk

@Tom.. Thanks for the information. Your approach seems to make the most sense. I have to create the strategy that I'm going to follow, then I could be more direct in my approach. 

Thanks again. Maybe I'll see you at a meet up soon. 

Thanks for the advise Josh.. It seems everything that I'm reading says to "go big or go home." That's why I was thinking MF. As I'm still in the learning stages of my REI side hustle, I guess one of the biggest things that I'm realizing is that there are a million different ways to go about this.

Afternoon everyone. Here is a baseline question for you. (From a newer Bper)

The scenario.. I have 2 SFR (1 condo and 1 townhome). One of them is paid off, and giving me cashflow (even with stupid association fees) on a monthly basis. I'm writing my business plan to hopefully leave my 9 to 5 one day, and my next step I feel is an important one.

In your opinion should I.. 

Save up for another down payment for a SFR (Take 6 months or so) and keep taking in the cash from the two existing.

Possibly take a HELOC on an investment property to reinvest in another SFR.

Or sell the asset, and buy a MF?

Any direction, opinion would help. 

Thanks

Jk

Thanks for the information. Attending REI is next on my list. Unfortunately I'm traveling for work on the 19th. But I'm putting the next one on the calendar. Thanks again for the help.

Thanks for the message.. Actually its quite opposite. I'm the one looking for a change. If you wanted to meet and talk about sales, I would be more than happy to do so. 

I'm an investor as well, so more the merrier. 

I thought the subject line would get your attention on this Monday. This is what I'm asking to the wonderful B.P. community. I want to buy a cup of coffee for a real estate pro. Read my story and you will understand why.. 

I currently work in the corporate sales world.  I negotiate the relationships/contracts for one of the largest chemical producers in the world. All aspects of customer service, negotiation, relationship development, and pricing are part of my day to day. I have an amazing job (and expense account) that  affords me a very comfortable lifestyle. When I was younger my mentors always told me that I will end up making a career in sales somewhere. I'm one of those "natural sales types." I love talking in front of people, and the "high" that I get from closing a deal. Blah Blah Blah.. 

Ok so why in the world would I want to speak to someone in the R.E. world? It's very simple.. There isn't much "hunting" or "winning" in my line of work. Even though I am a high producer the majority of my time and energy is spent managing the accounts, rather than selling them. In my world there isn't an opportunity to teach people to sell, or to build something that I control.  I've been reading and reading about the day in the life of an agent, but just as in sales, I think that some things are better in person. 

So the offer is on the table.. 

Free Latte Anyone?

This looks amazing. Unfortunately I'm busy this evening, but I will be attending. I'm in the learning phase trying to switch from SF units over to MF, so as much networking as I can do will be beneficial. 

Morning BP. I'm new to posting so I'll start off with an intro. 

My wife and I live in the south burbs of Chicago. We both work full time in amazing careers that we enjoy. 5 years ago we made the decision to start investing in long term rentals as a way to cement our future. Things have been going great with that. We have a condo that owned free and clear (Taxes and association = $400 monthly, Rents @ 950), and in 2016 we bought a townhome (P.I. = $700, Rents @ $1,150).

So after reading and listening to BP, and other people that I respect in the industry I think that in the next 12 months I wanted to look at a M.F. property. A few nights ago I'm having a conversation with a neighbor of mine who's been retired for some time. He mentions he owns a 12 unit building, with only 2 units rented out! He's older, and he said up front he hasn't taken care of it the way that he should, and he wants to get rid of it. My mind starts spinning. Am I ready? I have no idea?? 

So my first of a million questions to you BPers. Is it a good thing to buy an apartment building that doesn't have the renters already in it? Do banks value the building on rental income?

Thanks in advance

Joe