All Forum Posts by: Account Closed

This depends on a number of small factors that can add up to some big questions that need to be answered.

I've done some sites in my younger years, so feel free to give me a message with your contact details and I'll be happy to help you out as best as I can.

@Dave Foster could confirm better than me, but yea that should be fine. The only real problem would be the differences in how the two are priced, but if they're both comparable to the other then there shouldn't be an issue.

Apartments.com?

Also, there's always Craigslist and posting flyers near the school/hospitals you're targeting.

Two things to consider:

1. We don't know what state you're in, which makes a BIG difference in whether or not you're "Obligated" to stay with an applicant. I.E. Texas is a verbal contract state...so even if you simply said it over the phone the applicant could pursue civil action and attempt to force compliance to the agreement.

2. This is your first decision as a Real Estate professional. The absolute most important ingredient for your success is how much people like and trust you. This is especially true in the residential market.

I'm not going to tell you which decision to make because I don't know you or your business well enough. The second applicant could absolutely be the best pick, I don't know. Just be sure to put a lot of thought into the full impact your actions have with the public...because it's damned near impossible for a new business to bounce back from a negative reputation.

Unless I'm very mistaken it's not cash-flow negative because it's a condo, but because it's a new build. Don't buy new, and don't buy cashflow negative. I would even resist the urge to just break even, you never know how long a dip in the market can last and you don't want to already be hemorrhaging money when (note: I didn't say "if") it happens.

Another thing to worry about with Condos is that there could be restrictions to leasing it out because of the HOA. Make sure to read the rules and regs of the complex you ever want to purchase in.

This is similar(ish) to trying to predict gentrification trends with new Starbucks locations. Sometimes you're right in that it means market growth, other times it really doesn't change much.

The best I can tell you is that it means you should start looking at other signs of growth. The investors who built that complex did so because the data told them that's where to build...so try to see what they saw so you can position your future investments accordingly. Look at population trends and local construction. Did a nearby business just okay a large expansion? Is a new HQ moving in? Are prices in the city too high and people are spreading out to find affordable living?

All these things and more are what can tell you the impact the market had on the investors who decided to build.

@Alfred Torres to second @Joshua Enriquez , Michael Ortega is currently working on a project for a client of mine and the process has been a breeze because of it. Definitely worth the cost.

What sized multi-family are you talking about? Depending on the size and your confidence in its ability to generate profit you could consider finding a partner to cover what you can't finance. Note: I'm rather conservative in my decisions, so personally I'm more comfortable taking a smaller piece and not having to worry about stretching my credit too thin.

What is your focus? SFHs? Commercial? Or do you not yet have an idea just yet?

The simplest answer? Own less stuff and do more with what you have.

The wife and I will go through and purge the things we find ourselves not using every 3-6 months or so. For example, we can be especially bad with buying cheap books and leaving them everywhere...so we try to use resources like the library more often or we'll donate our excess.