All Forum Posts by: Michael Reilman

@Jordan Archer Thank you for the article! 

@Jordan Moorhead Go ahead an pay an attorney to write one up. It's important to have it protect you if anything were to go wrong, and if your acquisitions are similar enough you possibly could make a boiler plate. Although, I would not recommend. What @Lee Rimpa said was ok, where you make it yourself and have an attorney review. 

As a final thought, the more business you do with an attorney the more you can negotiate discounts with them. Not sure how many of these you are looking to do, but it's a thought. 

Hi Lance, 

If you are talking about 2-4 units, network and find an agent that will filter through everything for you. If they are good, they should be able to take your criteria and forward ones that meet that. Ideally, go to a local REIA meeting and seek out someone there, as they are more investor minded. Be aware though, if that agent is an investor also they might be keeping the best deals for themselves. I've met some realtors locally that don't invest but work with investors so that is kind of where you want to be.

I bought my first rental, a condo, off MLS but I lived there for a year before renting it. I bought a 6-unit off market though, through broker relationships. Leverage the time of others if you have none.

Thanks all for the great feedback. I will look into some of the suggestions provided!

I know you don't want to go through a broker, but finding out the owner and building a relationship with the owner is what they do ALL DAY. I have had great experiences working with brokers and as a buyer, it's the seller that is paying their services. 

I've heard mixed reviews about reonomy.com. It's more affordable but have heard that its TrueOwner feature still isn't 100% accurate. I've never pulled the trigger on any data services like that just because I personally think that brokers are just the most efficient way to find off market deals. 

 I want to second this. Multifamily is a totally different animal (5+ units) and finding someone who has already walked that path and shows a track record of success is who you want to partner with. Not saying it wouldn't work out, but you learn so much faster with a mentor. This is what I did on my first deal and it helps you avoid mistakes you didn't even know you were making. 

Hi All, 

Wanted to get some suggestions on best Low-Flow Toilets for Apartment buildings in a C+ building. I've owned a 6-unit for about 6 months now, and the water/sewer bill is higher than expected. RUBS are illegal and individual meters is not feasible at this time. 

I'm wondering what people's best experiences with low flow are, reliability, durability, best brands, savings seen, and if I should avoid the extreme low gpf toilets for water savings (0.6-0.8 gpf). Looking to not reinvent the wheel on this one.