All Forum Posts by: Matthew Baltzell

What class is the asset? What do the surrounding comps look like? What is the median income for that specific zip code? Class of neighborhood?

As stated above hospitals create a lot of jobs which is a good thing. I'd start by looking at the comps surrounding the property to see how your asset compares. 

@Sirun Vartanyan to answer your question, "Is it a good time to invest in a cash flow property?"

Is that what you're looking for? If so what type of asset are you investing in, SFH, multi-family, etc? What market? There's a lot of different variables.

If you're able to narrow down your investment criteria I think you will be able to find the answer you're looking for. 

@Laurent Meyer The ultimate resource for this is https://coronavirusrealestate.com/ by Neal Bawa. Check it out. 

What was the biggest mistake you made in multi-family investing and what did you learn from it? For me, one big mistake I made when I was green to multi-family was calling a broker without an investment criteria. Let's just say 'a cash flowing property in a good area' doesn't get you much deal flow. After that, I felt like a dumb dumb, but I quickly learned how important your investment criteria truly is when speaking to brokers. It will always come up in the first conversation, so be prepared. What's yours?

@Matt Haman you'll definitely want to speak to a real estate tax attorney about this to receive 100% clarification on this. However, you will most likely create an LLC in order to be less exposed and protect yourself. When you speak to the lawyer they will be able to guide you more on where to set it up, taxes, etc.

Also, consider property management fees. One downside to apartment complexes under 100 units is economies of scale-especially with apartments under 50 units.

What you'll often find is high management fees and under-qualified property managers. In order to offset this, investors will try and manage the property themselves. As you can guess, this can lead to a number of problems. 

@Matt Haman if you could provide a little more context:

1. How many units are you looking to acquire?

2. Purchase Price?

3. What state/sub-market?

4. What role would you like to fill?

I think if you're able to answer these, it will help provide more context and investors will be able to give you better answers :)

@Rob Ferdinand you're off to a good start with your investment criteria. Add number of units, Purchase Price, Property Vintage, and Build to your list. 

@Joshua Feit The Team, The Team, The Team! Surround yourself with the right people and you will go far. As the old African proverb goes "If you want to go fast, go alone. If you want to go far, go together."

In the meantime, clarify your investment criteria. What is it you want, exactly? Example: Sub-Market, Unit Count, Purchase Price, Returns, Asset Class, etc. 

The more specific you are the more seriously you'll be taken in the industry and will be able to achieve your goals much quicker:)

@Lane Kawaoka I would tell them, better safe than sorry. 

@Alexeis Menendez what are you specifically looking for: unit count, purchase price, class of asset, submarket, etc. 

The more information you provide, the more we will be able to help yah.  Cheers:)