All Forum Posts by: Kamil Baldyga

Hey Grant! So as an investor specialist agent I work with a lot of wholesalers who help source properties for my investor clients. I think that, in general, wholesalers are awesome. However, there are definitely some wholesalers who are better than others. When it comes to wholesaling, there isn't much barrier to entry or regulation (though it seems like everywhere is slowly pushing towards it). Because of that, nothing is preventing some wholesalers from performing sketchy practices and skewing their numbers to make a sale. A wholesaler's reputation is incredibly important.

Hey Steven, so I have one bank account and once LLC for all of my properties. As far as funds for repairs/emergencies, I take a safety in numbers approach to it. I have an emergency fund set aside in the business but it can be used by any of the properties. When any repairs or work are done, I take the invoice and classify it in my book keeping software Quick Books, so I can get an idea how much is being spent on each property and the overall performance of each property. If you do a separate account and/or LLC for each property it is going to get excessive very quickly and it is going to be very difficult to keep track of everything. Hope this helps, let me know if you have any questions!

Hey Nicholas! I think diversification is definitely a smart move. That being said, if you're just getting started in investing, I would focus on only one investment strategy at a time. At least until you have a solid foundation built up. You'll be able to accelerate your investment growth in a particular area if you hyper focus on it. That being said, it depends on you as an individual and what your goals are. I personally am striving for creating and growing passive income streams. I have a stock portfolio that I invest for primarily dividend income, but I'm focusing on real estate right now. I hope this helps, let me know if you have any questions!

Hey Sam! So it's difficult for anyone to say if an investment is a "good" deal or not because "good" means different things to different people. For example, I like to use the performance metric of ROI and I think 3.69% is pretty weak. At the same time though, you're getting $235 cash flow and you would own your first multifamily, which is awesome. Properties also typically perform better as time goes on. It is a long term investment after all. My advice would be to verify the rental rates and to define what your "good" deal is. I know this is an answer without actually giving an answer but I hope it helps. Let me know if you have any questions!

It depends on what exactly you are trying to do with the CRM. Liondesk is great and pretty cheap. I currently use kvCore but I get it free from my Real Estate Firm. That being said, the best CRM is the one you use. I know plenty of people who jump from one CRM to another only to never actually getting anything organized or any systems set up. Hope this helps, let me know if you have any questions!

Hey Steve! I would get in contact with every wholesaler you can. They are always sniffing out off market deals. Also check out your local courthouse. Often times they have foreclosed properties that are being auctioned off or you can check the probate records and reach out to those individuals who have inherited property from a deceased family member.

Hope this helps, let me know if you have any questions!

Hey Wymeshia, it depends on what you're trying to do. If you currently don't own your own home, I would recommend purchasing a house first and house hacking it. Its a great way to get into the world of real estate investing. If you're completely apposed to house hacking, there is nothing wrong with buying MFHs, it will likely be a greater learning curve though.

Hope that helps, let me know if you have any questions!

Hey Gloria! I'm currently house hacking three rooms in my house and in my opinion it is a great idea. There are a lot of things to consider, especially since you will be sharing a living space. I have a "gentleman's agreement" with my tenants since I know them all personally through the army and I know they're good people that would be good tenants. I've also told some friends I'm not comfortable with the living with me. I like them, but I know they wouldn't be good tenants and I value our friendship and my own sanity a lot. That being said, if you don't know your tenant, be VERY thorough in screening your tenants and definitely have an agreement written up between you two should things ever devolve and get petty. Probably not, but it's good to be safe. I would recommend splitting utility bills equally between you two as well, if everyone has buy in for the bill, they're less likely to leave the hot water running for no reason. I would be weary of pets as well but that is up to your discretion. The toughest part is going to be having another person, potentially a stranger, share a living space with you. Everyone has their quirks, habits, and standard of cleanliness. Open communication and understanding for both parties is key.

I hope this helps, let me know if you have any other questions!

The first one is always the scariest but most meaningful, congrats man!

It entirely depends on what you want. With a smaller portfolio of paid off properties you have to deal with less leaky roofs, HVACs going bad, and other headaches that can arise while still hitting your cashflow goal. With financing, you own many more properties and use primarily other people's money to pay off your home for you over a long period of time. However, there is typically less cashflow. I would recommend using a performance metric such as ROI to determine what the best course of action is for you. When investing, you typically want your money to be as effective as possible, but that's not to say there are non monetary things that add value to your investments. Hope that made sense, let me know if you have any questions!