All Forum Posts by: Johnny Constantino

 So if the loan is under my name, but we split the profits 3 ways, can the other two partners get deductions as well?

Can someone tell me if you can use a LLC to purchase a 4 unit with 5% down fannie may after the recent change? Im trying to figure out how myself and 2 partners can all be part owners to get the tax deductions. Or can only one of us get them?

Thank you Arn! What about if id like to analyze deals that are off market? Id like to analyze every single apartment building in my neighborhood.

Hello all,

I am just starting out in the real estate business and am putting my focus in the multi-family apartment space. Once my partners and I pick a market, we want to analyze all deals in that neighborhood to get an idea of what properties are selling for, rent comps, expenses, etc. We want to underwrite deals that we wont even buy for practice. How can i get the financials on properties without wasting broker’s time? Can i just call sellers/owners directly and ask for their trailing 12? Or do i have to act like I am interested in buying each deal i want to analyze?

Thank you for taking the time to read my post and I appreciate all feedback

Hello all,

I am looking to purchase a multi-family apartment building, and I am wondering how much cash I should have put aside for closing costs, and any other issues that may pop up. I want to ensure I will have enough capital to fund my deal, and keep it operating if worst case scenarios occur. Obviously the size of the building matters, but we can talk percentages. Or use an example of a $2 million dollar property with 500k down. 

Thank you

That is great feedback Evan, I was going to set up a meeting with a Costar rep to find out more but you just saved me that time. My concern was that other people in the space would have access to info that I did not have. Now knowing that platforms like Costar just use the census data, I understand that the people who have boots on the ground and hustle the most get the deals. As far as off-market deals, I was under the impression that I would have access to all properties in a specific neighborhood which would save me time of driving around to look for those deals. I am aware that in the beginning brokers will give me the deals that their other clients do not want, and that's why I believe finding off market deals would be a good strategy. My partners and I are looking to invest out of state since we are not fond of investing in Illinois. We want to look at a minimum of 50 deals in a specific neighborhood before we buy. Any other advice pertaining to finding off-market deals, and succeeding in out of state investing?

Thanks for taking the time to give me your feedback.

Thank you for your reply, my only concern with those resources are the lack of updated data. Most of those are 2019 numbers, while the BLS shows 2020 as the latest. It is my belief that if I want to find an emerging market before the consensus, I am going to need updated numbers. 

Hello all,

I am looking to get started in investing in the multi-family apartment space, and I am in need of a platform that will give me access to updated market data to help me find an emerging market to invest in. I am looking into getting a Costar account that gives me access to demographics, neighborhood trends, all properties for sale, off-market properties, rent comps, rent growth, etc. This is all the information I am looking for, but it comes at a hefty price of 10k a year. Any suggestions for other platforms that can give me access to this type of data? I am willing to pay this price if I have to, but want to explore my options before I make that purchase. 

Thank you for taking the time to read my post, and I appreciate any type of feedback that you all have.

Johnny