All Forum Posts by: Kyle Neff

Hello BP Community! I am considering multifamily properties from 3-10 units. I know anything from 2-4 units will require a residential loan and anything more than that will require commercial financing. Curious to hear opinions on:

1) Res vs Comm Loans and any caveats / gotchas I should consider?

2) Whether or not I should even be considering a Commercial MF for my 1st investment?

3) Whether I would qualify for a commercial loan considering my experience level?

4) Any other recommendations / advice.

For background -- I am looking to purchase a property between $150k-$350k and have enough for the 25%-30% down if it is required, although that would tie up a significant amount of my capital. Look forward to everyone's feedback!

@Zach F. appreciate all the insight you have provided on this thread! I was in Cinci last weekend and got to know the area / neighborhoods a little better. I'm originally from south of Columbus but have been in Georgia awhile now. Would you have a few minutes to connect over the phone this week or next to discuss more of the areas you cover?

@Michael Noto absolutely. I have heard this again and again and am currently re-reading @David Greene's book - Long Distance Real Estate Investing. Any additional thoughts on how to actually build a strong team in a market that you live states away from? For your reference, I currently live in GA but am interested in Cincinnati, OH. Thanks again!

@John Warren - couldn't agree more! I have already gotten several references for my target market, now I need to vet them and make sure there are backup options for the scenario you pointed out. That's not something I would have thought of immediately so I appreciate the recommendation!

@Matt K.

Thanks Matt! Agreed, Is there any specific tenant screening / software that you use?

@Stephen Krzyzak

Thanks much for the response Stephen! I keep getting this answer over and over so it must be true. I appreciate the insight on types of questions as I will begin interviewing PMs in the near future. Just curious - I see you're in Findlay...do you do any investing in Cincy?

@Jim K. Thank you for your candor in this post. As much as I like to think of myself as an optimist, sometimes this is the most valuable type of feedback around.

@Julie Kern

Thanks so much for sharing your story! It’s encouraging and great learning for all of us. I too am interested in the multifamily path, but will probably start with smaller units - 3 or 4 - and work my way up to learn the biz on the way. Excited to see / hear about your progress as well! Are you only looking in GA?

Hello BP Community!

I am interested in investing in multifamily outside of Georgia where I live. Curious as to who is the most important person/persons to have supporting me in this, and how to go about finding them. Thanks in advance!

@Brent B. Yes, it would be a large capital outlay. Do you have a certain CoC return you are aiming for? Thanks for posting!