All Forum Posts by: Josh Eitingon

Looking forward to the meeting, hope to see many of you there!

Hahaha cents :)

Hi All,

Figured I'd throw in my two sense.  As a disclaimer I'm definitely biased and now do work for a coaching program.  That said, when I started 3 years ago I did a 3 day seminar and the coaching program that I now work for.  I can say without a doubt that I would not have acquired 5M worth of real estate while working full time had it not been for my coach/ mentor.  @Martin is completely correct, I think it is about choosing the right one as there are a lot that will take advantage of you and whatever credit cards you have.  Also to your point, you want that mentor to be someone that has and is doing deals bigger than anything that you are considering.  

Best of luck, 

Josh

Building True Wealth through Owning Apartment Buildings

Portfolio Diversity and Legacy/Wealth Building Through Apartment Investing

There are tremendous advantages to investing in apartments:

• Mitigated risk, while tenants pay down your mortgage
• Cash flow and equity build up over time
• Extremely competitive lending environment
• Tax Advantages
• Doing just one deal a year can create income for life

Plenty of networking as the meeting begins and we always leave time at the end.

This meeting has consistently been at capacity. Please pre-register to grab your seat. If you have attended before the cost of the meeting is $25. First timers are free.

http://www.meetup.com/Long-Island-Multifamily-Inve...

We host this meeting at the Hotel Viana, and kick off the meeting at 6:30pm.

Hosted by: Elite Apartment Coaching (www.eliteapartmentcoaching.com)

Hey Brandon,

• Private Money - promissory notes from private investors on a 20 and 44 unit.  Also, a full synidication on a 70 unit 
• Partnerships- yes, for most deals that I have done in one form or another
• Seller Financing- On the second deal a 44 unit.

Best of luck with the book,

Josh

Phone numbers were included sometimes in prospectnow - some counties provided more info than others

@Mike Wallace, I wouldn't say I own a D but, likely in a C/C- area.   Definitely know stories of a few friends that owned larger D properties.  Their story is similiar to Blair's.  Lots of headaches and grey hairs.  They cash flowed well but, definitely did not see a pop on the exit.  Make sure you buy RIGHT and stress test the deal.  Look at how it would perform with 20% vacancy as worst case example.  Personally, I'd stay away and if it is your first deal in the larger MF space I'd probably try to steer you towards a little higher quality.

Best of luck.

-Josh

My most recent closing was assumable debt so, that gets bucketed in its own category.  

Last March closed on 62 units with financing through a local community bank.  

77% LTV

4.5%, Amortized over 20, 10 year term, resets after 5.

Let me know if there is any other info that I can help with.  

-Josh

I don't own single family, only multi.  That said, I do think there could be cash flow opportunity on single family portfolios.  Like Sue said, it's a numbers game and you want to be sure you set aside a conservative reserves budget.  The financing for a SF portfolio will not be as easy as MF but, lenders are lending.

Best of luck with it!

@Jason Check out prospectnow.com.  They are about $80 for the first county and $10 per county after that.  I have used them before for direct mail and have had some success.  List seems to be pretty good and owner information didn't lead to many bounces.