All Forum Posts by: Julian Broyles

@Kiet Ho

Stay with one sfh or one multi family to learn the ropes first hand. Do a traditional mortgage with knowing in mind if **** goes down you have money to knock it out.

Having multiple bridges and having them not finished is bad, have one bridge fully done, you can focus on more soon .

@Salvatore Lentini

I’m getting ready to jump into a multi family that is seller financed when it is available. My problem as told by some is that bankruptcy will hurt me. I’m in the process of getting it done.

That’s my reason for seeking seller financing. I will be the one story that got a property despite this challenge, but I want to reassure myself I got this. What are good ways to keep the confidence and is this idea ultimately the best route?

Ps I don’t have anyone that is willing to be a partner.

@Jonathan Klemm

Sounds super. I’m excited to connect and to learn from you and perhaps partner with you in the future!

I am planning on investing in Chicago. Although there are corrupt and shady people (the reason I left lol) doesn't mean everyone is like that. I have my "Core 4" as David Greene calls them. I know the suburbs like the back of my hand. Plus, I know 10 people right now that are itching to tell me where the mula machine streets are in the downtown area with staying tenants. I'm ready, but I will watch my back.

I understand what you mean now, I don't need the money to be big in cash flow, I want to be able to provide for the people renting first. I can look into driving rent in like a year whenever I get the deal.

I'm originally from Chicago and moved to Phoenix, Az a couple years ago for a change.

I see many properties I marveled at as a child in the market back in my home town of Lansing/Chicago, Il.

Looking to find people that could share their insight of changes in the businesses/life since 2015, knowledge of the market and possibly connecting for partnerships in the upcoming months. I miss it a lot and know the good and bad neighborhoods of the suburbs, not so much the city itself. 

So do you mean with owner problems, the problems could be like fixing a toilet or having the roof redone? If that's the case it is very justifiable. 

Hello,

I am currently going through the numbers on different properties to see if they meet the just above water cash flow. Meaning, how much you would cash flow after all expenses are paid. Within the few properties that I have looked at the numbers are barely over the 300 or 400 dollar cash flow. Which is very fine, but I can't really think on how I could approach long staying tenants on rent raises without scaring them to move out. 

Is there a good way to introduce it without risking them to leave?

I've heard that people have been successful with negotiating price cuts on the properties for certain deals. One in particular I'm interested in is regarding proerties that have been on the MLS/Zillow websites for more than 30 days. There are ones I've seen ranging from 30 days to 189 days.

Persistence is key when wanting what you're dreaming for. I will start by giving them a price I think would be reasonable. Then follow up every few weeks to see if they are willing until we can meet in the middle.

How long should the property be on the MLS/Zillow before making the connection to start asking if the seller is willing to lower the price that can make the deal sell?

Is this in person or video watching? Wanted to know ahead of time due to Covid 19 restrictions?