All Forum Posts by: Justin Goodin

@Spencer Gray thank you for taking the time to write this. I really appreciate it!

@Vlad Denisov I’m on YouTube every day watching every video I can about apartment investing 🤔

@Chase McArthur and yes I have been using Michael Blank’s SDA. Definitely one of the best, if not the best, spreadsheets to analyze deals.

@Chase McArthur thank you for your response! I appreciate it 😃

@Michael Ealy yes! Thank you!

@Joel Garcia I read a lot about Michael blank and his information, but I would never pay that much for ‘coaching.’ Quit making the rich richer and do your own research and execute your plan. Currently what I’m doing!

@David Wright thank you so much for the information!

Can some experienced investors with apartment buildings help me clearly understand the financing aspect of purchasing an apartment building. I am looking to purchase a building with 10-30 units anywhere from $700,000-$1,000,000. I want to purchase a property that needs mild to moderate renovations. 

Will a bank require 30% down? Has anyone raised money from private investors or bought a building without using private investors? Depending on how the deal is structured, how will my private investors be paid throughout the year? I am looking to buy and hold the property, so what if I refinance the property and I do not receive enough money to pay the investors back. Any information, or a walk through the process of purchasing an apartment building would be greatly appreciated. Thanks. 

Hello,

I am in the beginning stages of purchasing an apartment building, hopefully between 10 and 30 units in Indianapolis(or surrounding areas). I am currently speaking with a couple brokers and analyzing deals. I have done extensive research, listened to podcasts, read books, etc.

I am mostly confused on how investors get paid throughout the year and how someone would get financing from a bank.

Would anyone mind sharing the experience they had buying an apartment building. . Did the property need renovations? Did you raise money from private investors? How did you structure the deal? How did you build your team with the accountant, property manager, lawyer, etc.? Any information would be greatly appreciated. Thank you!

Hello,

I am in the beginning stages of purchasing an apartment building, hopefully between 10 and 30 units in Indianapolis(or surrounding areas). I am currently speaking with a couple brokers and analyzing deals. I have done extensive research, listened to podcasts, read books, etc. 

Would anyone mind sharing the experience they had buying an apartment building. Did the property need renovations? Did you raise money from private investors? How did you structure the deal? How did you build your team with the accountant, property manager, lawyer, etc.? Any information would be greatly appreciated. Thank you!