All Forum Posts by: Ley Nezifort

@Tj Hines Thanks for sharing! Yeah after comparing the two, more units under one roof just made more logical sense. So I’m glad you made the switch, and I’m also glad that it has been rewarding.

@Taylor L. Thanks for you input !

My partner did raise some private money for our first deal, but No significant syndication experience as of yet, we have been learning everything that we can about it though.

@Greg Dickerson You're absolutely right regarding the learning part, one can never run out of things to learn especially when it comes to CRE. I am however choosing to take a bit of a more proactive approach instead of "letting the deal come".

I’ve realized that Commercial Real Estate is mainly a relationship game; thus, as a beginner in that space I don’t think I can afford the luxury of letting the deal come because “Brokers don’t yet know that I can close”... Perhaps after I close a few deals, and achieve a level of experience like yourself, I might be able to afford that approach haha.

@Joel S. Hahaha Yes! I noticed some of the concepts were quite similar to residential apart from a few. Read a couple of books, and I used a lot of the free resources from guys like Michael Blank.

@Charles Seaman Thanks a lot for the very detailed input. I totally agree with narrowing down the list of targeted markets.

Hello BPers,

My partner and I are ready to jump into apartment building investing one month after we closed on our first deal, which was a triplex. We spent about three weeks educating ourselves on the differences between the residential and commercial space, and now we’re ready to take actions. Our goal is to raise the capital using private money, and close by the end of January 2020.

We are looking for a value-add 20+ units deal in one of the following markets

Philadelphia, PA

Jacksonville, FL

Atlanta, GA

Orlando, FL

Dallas-Forth Worth, TX

We’re currently putting together a team in each of those markets, so any recommendations for commercial lenders, brokers, property managers, attorneys, etc... would be highly appreciated.

The question I had for each of you was: How long did it take you to jump from the residential space to commercial? And if you haven’t done so, what are you waiting on ?

@C-Dell J. Hi there, the first question I’d ask you is why do you want to pay it faster than 30 years while you can re-invest the cash flow into more deals ?

But to answer your original question, after the refi you’d then have a mortgage which your rental income is going to take care of. Anything left from the rental income after mortgage and operational expenses will just be cash flow. Now if you really want to accelerate the mortgage payments, you can somewhat kill some of your cash flow by paying more than the mortgage amount on a monthly. But I’d be sure to have a good reason why I’d do that.

@Marc Winter Thanks a lot for that Marc ! In my case, it’d be more like a drop location

@Bjorn Ahlblad Pretty smart! In my case , there’s a legal basement that’s being used to store some stuff. Was just trying to figure out if It was okay to send common utility bills and other mails there

Hello Fellow Landlords,

I wanted to understand the legal aspect of adding an extra mailbox labeled “B” for the basement unit in a small multi family (Duplex...Fourplex). I can imagine landlords typically get general mails they can’t send to the units of their tenants, so where do you typically send your mails for your rental properties ?

I’ve seen the extra mailbox quite often in Newark NJ, where I currently invest, but I’m not quite sure if that’s legal or not.

Any insights would be quite helpful, Thanks