All Forum Posts by: Ken Nyczaj

@Tim Richter bounce ideas off of your team mates after you've had a few minutes to clear your head. Or positive self talk helps when you truly think about the reason why you're pushing yourself and getting into real estate. It helps get you through those overwhelming days.

And a good nights rest! No social media no TV!

@Bobby Pagliarini How much are you working on your multifamily off market list? Use local GIS mapping to find multifamily deals from 10-30 units that maybe larger investors have passed over. It's the same for single family, get hungry for those off market deals and build yourself a list or buy a list.

@Merri Chocola creating a marketing arm of the company and focus on direct mail, text message or cold call campaign on single family's. When a prospect comes through decide whether it'd be best to flip or rent it depending on how dilapidated the house is and if you have a good contractor or not.

Create a list off of the myriad of list sourcing companies out there, hire someone to do your letters and start sending letters every 4-6 weeks or so. Or hire a bird dog to find you the deals.

If you're transparent from the beginning and use the proper contracts I don't see an issue with it as long as your local legislation agrees with that.

If you have your property under an LLC, keep all outgoing and incoming payments into the bank account attached to that specific LLC. If it's under your personal name, probably still best to keep it all separate to make it easier for accounting purposes.

For my accountant, for each different LLC, I keep a general folder for business expenses- marketing, mail, OE, client meetings, etc and then a separate manila folder for each specific property.

@Hersh Rai check out Real Data Software by Frank Gallinelli. I bought his pro software a few months ago and took the online lessons and learnt how to analyze and underwrite commercial deals. I've never used it for new development (only apartments, mixed use, mobile home parks) but I believe his software is compatible. And being able to do 5, 10, 20 projections is a nice feature.

@Tyler D. all tenants under on roof and that roof being a new fourplex construction sounds like a great long term play, plus you're living in one unit so managing will be easier. Plus lower maintenance and repairs costs. Maybe even rent out a room in your own unit and double dip!

@Dominique Long as you continue to grow your portfolio it's important to bring the right professionals around you- attorney, cpa, etc. Find great references on here and other platforms and meet with them. Their knowledge will save you money and headaches in the future.

@Mason R Westover it's definitely a challenge. If you know any Generals that you can equity partner on a deal with that could be the best way, giving them skin in the game to motivate them to be on time and on budget. You bring the hustle and deals and cash, they bring the experience and cash. Not sure if that's even possible for you but it's how I got started...