All Forum Posts by: Kevin Panella

Hello all, jumping in with both feet to the Birmingham market. We live in California and are excited to get started in a new market. We currently have 7 properties in Indianapolis and have built a great team there. We felt Indy was a great mix

Of good appreciation and decent cash flow. The cash flow has grown harder to find there as with most markets. Soooo, we are looking to expand into a new market! Would love to make some connections with fellow investors and locals alike! Looking to visit rather soon, but wanted to start making connections now. Specifically for single and multi-family long term buy and hold properties. More than 1/2 of our current portfolio is comprised of section 8 tenants (i must say, i like everything about the model aside from the inspections) Anyone out there? Any advise? What areas is everyone having luck in? Looking forward to hearing from you all. Let’s connect! Kevin

Ab-1482 as i understand is bill passed to protect tenants from landlords hiking up rental rates arbitrarily. The bill gives certain guidelines to landlords to abide by. However certain properties are exempt from this bill, which i believe our property is. It’s a single family dwelling built in 2001 and is owned by Myself and my wife. Here is what I’m a little confused by. The bill states that if the property is exempt from this bill, written notice to our tenants explaining this bill needs to be given in writing to the tenants prior to august 1 2020.

My question is…

We never provided written explanation of this bill to our tenants by the date listed above (They have been tenants of ours for 14 years). Does this mean, that our tenants are protected by “rent control bill ab1482”? Is there any way around this at this point? Are they grandfathered into this bill because we did not send them the notice??

Secondly, if a new tenant were to occupy the property and written notice is given to the new tenant at the time of lease, does the property then become exempt from the ab-1482.

Looking to just make sure that we are not hiking up their rent over what we should be and staying on the right side of the law:) thanks for your help!

Hello all, jumping in with both feet to the Louisville market. We live in California and are excited to get started in a new market. We currently have 5 properties in Indianapolis and have built a great team there. Would love to make some connections with fellow investors. Looking to visit rather soon, but wanted to start making connections now. Specifically for multi-family long term buy and hold properties. Anyone out there? Any advise? What areas is everyone having luck in? Looking forward to hearing from you all.

Hello all, I’ve searched this thread but didn’t see anything that was specific to my situation. Here my scenario, i have 6 doors currently above and beyond my current residence (5 of them within the last year) Ive told only a very few close friends and family of my endeavors thus far. I mentioned recently what I’ve been doing for the last year to my brother in law. He was very interested and intrigued of what is happening. So much so, he wants to get involved. He is wanting to be involved only on the lending money side. How do I involve him assuming that he brings the money and i would then be in charge of everything else. Our strategy would be that for buy and hold (mostly small multi-family), focusing on monthly cash flow. Looking for others that have partners like this. Looking for a structure that is fair for both parties. I know from listening to all the podcasts, they make it sound easy to get a partner, but don’t really go into detail of how that works. Any help out there??

Ps… for reference, this is my wife’s brother, we have a great relationship and have been married to his sister for 20 years.

@Farris Gosea

Hey Ferris, good to connect with you. Hit me up

@Caleb Meyer

Hey Caleb, good to connect with you. Pm with anything you have! Hot market out there to say the least😀

Hello all, jumping in with both feet to the Indianapolis market. We (my wife and i) are out of state investors with rentals in my home state but have never bought out of state. Would love to make connections to property managers, wholesalers, agents and investors alike. After many months of narrowing down the market we felt good about, we landed on indy. Looking to visit in the next month and make some connections along with getting eyes on specific neighborhoods. Looking specifically at multi-family to buy and hold...Anyone out there? Any advise? Looking forward from hearing from you all!

I’ll start, I don’t remember who said it, but I quote it all the time...

“You don’t have to be great to start, but you have to start to be great. “

First time investor Looking to buy some multi family 2-4 units in the 60-100k range. Most important thing for us is monthly cash flow. All properties will be out of state from where we live. Currently researching markets, but haven’t visited any yet. Have 200k in cash on hand. My question is what would be the best way to buy these? Looking to leave as little cash in the deal and still remain cash positive. Should I buy these all cash and refi after close? I feel like ultimately I could get a better deal this way or be able to buy a property that only accepts all cash.

Or

Should I put 20 percent down and just leave that money in the deal? And hope to refi later and pull the money back out?

What might I be missing or not thinking about? Looking to start with one, and then duplicating the process? Any thoughts out there?

First time investor Looking to buy some multi family 2-4 units in the 60-100k range. Most important thing for us is monthly cash flow. All properties will be out of state from where we live. Currently researching markets, but haven’t visited any yet. Have 200k in cash on hand. My question is what would be the best way to buy these? Looking to leave as little cash in the deal and still remain cash positive. Should I buy these all cash and refi after close? I feel like ultimately I could get a better deal this way or be able to buy a property that only accepts all cash.

Or

Should I put 20 percent down and just leave that money in the deal? And hope to refi later and pull the money back out?

What might I be missing or not thinking about? Looking to start with one, and then duplicating the process? Any thoughts out there?