All Forum Posts by: Michael Ealy

 Ravi, I just sent it to you. Let me know what you think.

 The older the building, the higher is the operating expenses. The age of the building or when it was last renovated is key in determining how old it is.

 Hi, I sent the analyzer to you and everyone who requested it.

If I missed anyone, please let me know.

Domenic,

The short answer is you have more control with a land contract. I can send you the long answer (19-minute training video) if you want. Let me know.

 When I lost everything back in 2002-2003, I got my real estate license and it was one of my best decisions. It allowed me to know my market and find deals which I call "diamonds in the rough". It was a lot of hard work but I used my real estate services to help several investors by finding great deals for them, managing the renovation for them, managing the tenants and even sold the properties for them. I earned fees along the way and learned a ton.

After doing it several times, that's when I decided to do it on my own and I found a private lender. And the rest as they say is "history". Today, I own 1,000 apartment units.

Well, here's Part 2 of my story which detailed how I was able to rise from broke to 1,000 apartment units:

https://www.biggerpockets.com/forums/55/topics/692382-from-bankruptcy-to-1-000-units-part-2-rising-from-the-ruins

 I totally agree with Todd. Investing is down to the sub-market and even down to the neighborhood level.

One of my staff members asked me why I was not interested in a 22-unit building that is only selling for $30K/door. There is a $100/month/u upside with probably a $5,000/unit property improvement. I said "NO" because the neighborhood is a bordeline D+/C- and the $100/mo/u is pretty much all the upside. With better deals I can find in better markets, why be satisfied with that?

What you want to invest in is a growing community. I like to buy at the border of a good community and a bad community and knowing the market intimately, allows me to know where the good part is growing into and that's where I buy.

Here's the answer: (hint - to buy more properties because JV partners allow you to expand your resources)

https://www.biggerpockets.com/forums/432/topics/744841-joint-venture-and-how-to-buy-more-apartments-actual-experience

 Cardell, it can but it works better with multifamily.

 Steven,

Yes - with the help of one of staff members who is really good with Excel

And Yes - I am sending it to you...

 OK Mohammed...I just might. I am sending the analyzer to you...