All Forum Posts by: Mark Neiger

Thanks Dean. Let me know.

I'm looking for an agent or broker who specializes in multi family property in Orlando. Can anyone help me out?

I'm looking for a broker or real estate agent who deals with multifamily properties in Orlando. Anyone who specializes in 2 - 4 unit residential properties or larger apartment properties out there that can help me out? I own single family properties in the area but am looking to expand into MF.

Jean,

I've been maxing out my wife's and my IRA accounts for the past few years but feel I could do much better investing that money myself and have decided to instead put my future contributions aside for real estate capital. Although I have the potential to make a significant salary with my chosen career I am beginning to get burned out and would like to transition to RE so as to be able to spend more time with my family whom I'm away from for a week at a time. I'm 40 so a while before retirement. The credit cards would be a last resort for anything but it is an option to "light the fire" if you will. My house is currently rented out. I rent myself and an owner occupied is exactly the kind of idea I've been tossing around but maybe thinking "bigger"!

P.S. Love the violin!

Chuck,

100,000 is my flight training and 50,000 is my wife's marketing degree. She does not work (well, she's a stay at home mom, so she does :).While that is a large amount it is normal for my industry (similar to doctors) and top airline captains can make 300,000/ yr (not there yet). The interest is 2.5% and payments are deferred as I'm currently finishing my BA degree part time. I consider it an investment in my education and worth it. My house is a cash flowing rental and I rent a much cheaper place for myself. While Dave R. Was a good influence on me before (paid off all debts aside from student loans) I feel I've moved beyond his somewhat general rules for the average American debt "sinner". As for an emergency fund, I am insured to the max with life, health and disability for long term emergencies and can pull up to 50,000 penalty free from my IRA for any short term needs. I can pull together a good chunk of cash from my salary should I need that to get a property but am trying to get creative.

Been on BP for about a month now and this is my first post. I'm starting to feel that paralysis by analysis feeling. In the last year I've read two dozen books on real estate, done hours of research on the web, listened to half the podcasts on BP and have been scouring this forum. I'm interested in multi-family buy and hold investing. If any of you multi B&H experts on here want to give a little sage advice it would be most appreciated. My situation is as follows:

$145,000 in Roth IRAs and 401k

$35000 in available credit cards

No other savings at this time but ability to set aside $10,000 - 12,000 per yr

$80,000 annual income

Wife and I both 750+ credit scores

Only debt is $150000 in student loans between us

Have SFR in Downtown Orlando (100% financed, 100,000 1st / 55,000 2nd, 1500 per mo rent, 500 net after expenses and P&I, house shows 154,000 on Zillow)

Not quite sure what to do next. I want to concentrate on Orlando / South Florida. Should I look into <4 units or go 5 and above. With the money I have available I want to know what size of building and how much down payment I should look at. Or should I look to get investors. I have a full time career as a pilot so time is an issue since I'm out of town for long stretches of time. Do I see what I can qualify for for financing first or start hunting for properties. Thoughts / ideas?

Thanks everyone for the welcomes. Excited to be here! Greg, my property is downtown in the Thornton Park section of town.

Hello all! My name is Mark. I live in Port Saint Lucie, Florida (South Florida). I'm an airline pilot and have some free time to invest in real estate. I currently have a single-family home renting in Orlando. It used to be my primary residence but is now my first investment property. I hope to make lots of great friends and partners here on BP and look forward to learning from people who know much more than I do. I worked as a landscaper in college and have quite a bit of handyman experience from remodeling several homes. I'm also very mechanically inclined as I have an airplane mechanic license. I would love to use my skills to help out others so that I could learn from their investing experience. (I could also work out a few free flying lessons!) Looking forward to meeting you all!