All Forum Posts by: Josh Eitingon

This BP post has a bunch of good resources around a 1031 exchange: 

http://www.biggerpockets.com/rei/guide-1031-exchan...

If you sell the property in under a year you would be hit with ordinary income tax rates (will vary by individual) as opposed to capital gains.  Here is some more info:

http://www.bankrate.com/finance/money-guides/tax-c...

@Charles Smith  Hey, I also own in Cincinnati.  In addition to a lot of the great suggestions above, I do think there is opportunity for multifamily direct mail campaigns.  You don't see them as often in this space there are definitely deals to be had.  I know hamilton county has a pretty decent website for databasing and prospectnow.com is a good resource I've used. I'm not affiliated with prospectnow (don't worry.)

@Tony Nguyen 

My first purchase for a 20 unit apartment building. I have and will only look bigger from there. With multifamily you get the economies of scale like you stated and more importantly, with size comes better professionalism and better management. What pulled me away from SFR is the self managing aspect and that reliable third party management for smaller deals can be tough to find. My most recent acquisition has management charging 5% and there is onsite staff.. the staff pays for itself through savings on the maintenance side.

There are pluses and minuses to the cash flow play versus the big pop. I'm personally more drown to the big upside plays but, have been finding recently more deals that are solid buys with modest value add components.

All of that said, I think you summarized pretty well.

Hi All,

I apologize in advance for the late notice but, hopefully it's not too late for some of you.  Tonight, we (www.eliteapartmentcoaching.com) is hosting a networking event and Hotel Viana in Westbury, NY.  This is a monthly meeting where we will focus on different multifamily investing topics throughout the year.  Different industry professionals will often come up and discuss a topic of their choosing.  

For today's event, I'll be co-hosting it, reviewing the 4 multifamily deals that I have done and the structure for each of them:

-20 unit distressed short sale (one partner)

-44 unit deal with seller financing (one partner)

-62 unit conventionally financed deal (one passive investor)

-70 unit assumable debt (syndication)

Then we'll have an open discussion on the makings of successful partnerships in the multifamily space.  

Plenty of time will be left for networking before and after the speaking spots.

You can sign up below or just show up. 

https://nationalreis.leadpages.net/limig102014/

First time attendees are free.

@toben B. you have lots of options.  At the highest level you can either raise debt (basically borrowing the money from your investors) or equity (the investors become part owners in the property.)

Debt is obviously simpler and it allows you to retain ownership but, investors may not be interesting in just lending.

With equity, I will take fees in 4 ways 

1- acquisition fee for putting together the deal paid at closing

2- asset management fee: between 1 and 3% of gross rents paid monthly for my day to day management

3-share of cash flows (usually between 10 and 30%)

4-share of cash flows (usually between 10 and 30%)

**Your 100k would be treated as an investor dollar alongside what your investors put in.  The 4 points above would be regardless of personal investment.

You can get super creative which is why private money is great.  If I were you I would try for some form of debt/ equity arrangement to be able to retain as much equity as possible.

Hope you don't mind me getting specific with what I have done in the past.  Probably too much info :)

Great, thanks for the warm welcome Wendy!

Hello,

My name is Josh, a multifamily investor from Long Island, NY.  I'm 27, worked in marketing for a few years out of college and have recently transitioned to work for a real estate coaching/ consulting company.  I am new to BP and am looking to absorb as much as I can and feel like I am years delayed in finally joining. 

I currently only invest in multifamily.  I own and manage 126 units throughout Kentucky and Ohio and am currently about 2 weeks away from closing on a 70 unit apartment community in Florida.  

Looking forward to connecting and seeing how others are investing.

-Josh