All Forum Posts by: Jonathan Barr

I have been on same journey.   You can find anyway to get in front of the right person. Then go after it aggressively without pushing to hard either.

where are you looking for deals?

I have been started contact owners as well.

I am looking at a couple deals from that.   I think what has made effective is trying hit them by letter, phone, text and email.  Eventually I feel I get a hold the right person that way.

I also get very narrowed down on particular unit count, areas, how long they have owned and is property something I can actually afford to buy.

I think the good thing is once you really narrow things down then you can really focus on that handful. At-least talk to the owner and start a conversation.  You foster those relationships and eventually it may go somewhere.

I would just add to what Dallon is saying and fly there and meet these people in person.   They will take you that much more serious if you do.   These brokers get calls from people out of state all day.   If you down them and meet it'll set you apart.

Lastly you may want to partner with someone who has done this before.

just need be more conservative with expenses and rent prices during this time.  Maybe you under-price the rental little bit to get a better tenant in.   The tenant that feels like they are getting a good deal will stay longer. Less turnover means ultimately more cash in your pocket.

I think that if you can make the numbers work right now I would do it.

Just need really really vet any future tenants.   Make sure they have a lot in bank and they haven't had any job disruption. I also think rates are so low that if you can lock in a 30 year mortgage at these rates its hard to go wrong.

Let's we do take some kind of hit if you do hold 5 + years you can ride any of that out.   This won't be 2008 again because economic pain isn't coming from real estate this time.   The loans that were done this time around are super solid and lots of owners have a ton of equity and can ride any storm.   So people won't be desperate to sale therefore not pushing prices down.   

Hi Matt I would look at Canva and you can most likely do it yourself.   The have a lot good templates and tools to make something look good.

Like said above you find the right deal now move on it.

I think right now is just time to be that much more conservative. Give yourself more buffer, higher vacancy and extra reserves in case you need carry property for sometime.  Maybe try to avoid big rehab projects. For example a multi-family deal I'm about close its more expense reduction management play.   The property needs very minimal work.

A lot people are scared on the sidelines.   If you take a chance now those brokers will remember and bring more deals later.   I honestly thinks its really good time to jump in on the deal. Happy Hunting!

I think its great time to grow your expertise maybe shadow a current syndicator.  I would say if you have job save as much as you can as its good to have some capital. You need for security deposits, due diligence, travel cost etc...

I next couple years we will see some deals come through from all this economic pain. This business is not easy.  If you have perseverance and you make the right connections you can succeed.

The number one thing to do is get education and find the right partners.   Then the next would be to start to raise capital.  If don't have capital you can't do the deal.   Then after that making broker contacts to get in front deals.

There is a lot to learn and that much more before you can get into your first deal.   I think you are in the right place here to start to get the basics.

@Mario Arnone

Hi I would sell and redeploy your cash into multi-family syndication.

I recently invested in my own smaller multi-family with all the work involved I would been better off investing in a syndication.

Right is still a good time to sell to get top dollar before we get hit by economic fallout of everything.

On most syndication deals you can 8-10% yearly return on your money.

Reach to me if you like to learn more.

Hi its always ideal to have that second full bath.   You open your buyer pool to more people like families.   Thus you will get some kind of premium for that.   I would bid it out first make sure its worth the cost.   You may want to ask an agent or look at the comps to see how much value it would give you.   If you need to put 3k in for that,  I would want at least 6k in value for the hassle of putting that in.  That's my two sense on that.