All Forum Posts by: Matthew Baltzell

@Fernando Rodriguez focus on the positives. You may have bad credit, no money, a little network, etc. 

What are you good at? Focus on that and build it out. Maybe you have a strong business acumen or you're great at sales. 

You've got something. Everyone does. It's up to you to find it.

Best of luck to you and your journey. :)

@Jian G. look at the comps surrounding the apartment. What are the rent's of comparable properties surrounding the area? What have similar properties sold for? 

 The comps will be listed on the OM, if not call the broker and ask for them. 

When you receive them, verify and make sure the information is accurate. 

Example:

XYZ Property, 2 bd/2 bth, 1,000 sqft = $1,000 Rent

I would do a google search of  the XYZ property and see how much the rent's are online. Maybe they're lying on the OM and being advertised as $950. 

Go one step further.

Call and act as a potential renter to see what the rent's are. 

*Also, remember not to look too deep into the Pro Forma. These are projected numbers which haven't been obtained. 

@Account Closed , don't overthink it. 

As long as your card is simple,  professional looking, and has your best contact info you should be golden. 

** Buy 50-100  business cards the first go round. If you really like them you could always buy more. This way you're not stuck with a bunch of business cards you hate.

@Gary B. this tool is pretty good for doing research on a neighborhoods 

https://www.neighborhoodscout.com

Hope this helps:)

@Sohrab Ansari Congrats on the property, well done. 

Is this the same management prior to you purchasing this property or did you hire this manager?

@Kingsley Edemidiong how hands do you want to get? Do you want to be an owner/landlord? 

If you're looking for a "less hand on" approach, you could always invest passively into MFH syndications.

It all depends on what your long term goals are and are comfortable with. 

@Charles Royale I know for me personally, I wouldn't want to rent an apartment next to a train station due to noise and I'm looking to start a family, and wouldn't wan to worry about my kids safety. 

With that said, this doesn't mean it's a bad investment.

If I were you, I would walk around the neighborhood and speak with people in the area. Ask the neighbors if they like living in the area. See how often the train comes through. etc. 

In addition I've attached an article which cover a property's value and possible foundation problems of homes near train tracks. https://homeguides.sfgate.com/drawbacks-buying-home-near-rail-track-45619.html

Best of luck. 

@Joseph Biscoe kudos to you for starting at 27 years old. I'm 33 and am relatively new the commercial real estate industry as well.

When I was first starting out, my mentor asked "What are you good at?"

Think about your answer and that will be your opening.

You may lack knowledge right now, but maybe you have killer cinematography skills. Offer your service to a commercial broker and make an epic video to the property. 

In return, you'll learn under his tutelage. 

This is quick example. 

The quicker you add value to someone the more likely they will be to reciprocate that message. 

Break a leg brother and keep pushing on:)

@John-David Hails that's ambitious of you for wanting to take down a 50+ unit apartment complex, I like it:) It's not impossible, but real estate is a team game.

Focus on building out your team. It sounds like you have the capital, BOOM!!! That's great! There's a lot of investors who don't have that, so kudos to you.

Look to add people to your team who could help alleviate your pain points. Bring on an analyst or someone who can help teach you how to analyze deals both faster and better.

Also, partner up with someone who has more experience than you with larger properties. They'll be able to teach you a lot and help accelerate the learning curve.  

Soon you will have solid team which will be in a better position to take down your 50+ deal.

**Paradigm shift**

Look through the eye of a commercial broker. The market is hot right now and is a sellers market. Everyone wants to get into multi-family apartments. 

If I'm a broker, I know I can sell XYZ property with ease. I want to get the highest price and want to go with a credible buyer who I know can close on the deal. 

If I'm an experienced broker, why would I go with you? Say, you have the money, so what? So does everyone else!

But, if all the sudden you have a team with a track record and have proof of funds, etc. You'll now be taken a lot more serious.

Build up your team and your goal will then become a reality. 

I wish you the best of luck and hope you achieve your goal:) 

@Nicio Evertz Welcome to BP my friend. We are happy to have you. 

I think it's a great idea you want to start a website and is a great way to sell yourself. 

If you've been educating yourself don't feel shy about boasting your accomplishments. 

Celebrate your victories. Let the world know what you've done.

Possible Highlight's:

-you've read 40 book on real estate investing

-attending meetups regularly

-walking properties

-underwriting deals

The point is to build up as much credibility as possible even if it's small. Then when you're speaking to potential investors or mentors, you can refer them back to your website you've been working on and is a good place to start with credibility. 

*Also, start capturing emails of family, friends, and other real estate investors. Send them out a monthly newsletter letting them know your progress. Then when bigger deals and things heat up for you people will be aware and know what you're all about. 

Keep up the hard work. You're doing great:)