All Forum Posts by: Nitzan Mosery

Hey Phillip,

being ex- IDF i would love to assist you on your journey.

the first and foremost is getting educated. as previously said- podcasts are great, books are great as well.

once you start reading through and listening, you'll start to understand that this is a team effort business.

now that you're educating yourself- start networking with people to build your power team.

start figuring out what city you want to invest in and memorize the map so you know which areas are hot and which are not.

now that you know what areas you want to invest in, figure out the asset class. find brokers to help you locate the right properties. start underwriting( or have someone on your team do the underwriting)..

its a simple process but it has a lot of moving parts.

I look forward to hearing from you

Nitzan

Hi Tiffani,

im going through a 1031 right now.

i sold my sfr and had 45 days to identify several other assets. 

now that the 45 days are over i have 180 to close.

you don't need an realtor to do this transaction, however, you will need a 1031 exchange agent. they will hold the funds for you until you close or cancel the 1031.\i can turn you on to my 1031 agent, you can ask you cpa if they know of any or you can google them.. let me know if this helps or if you have any other questions

failure. being able to understand why and where i failed and how to improve myself has been invaluable. we all fail, the question can we get back up and continue to move forward, learn and grow.

first dont get excited just because its close. get excited when the numbers work.

you need to gather all your information first before making a decision.

check around the area for rental comps and see what the competition is offering. as far as concessions, upgrades, amenities. Like this you know what you can do with the rents. how much to increase them.

once you know that, you have to run the actual numbers and see if you can make your new mortgage payment and real estate taxes or not.

remember that whatever income and expenses the asset has currently, you will inherit. 

speak to several lenders and get quotes on how much ltv loan you will get and what int rates. 

now that you know what the current rents are, what your expenses are, what your new mortgage is, new real estate taxes and new insurance cost are, you can run your numbers and see if it makes sense.  now you can see what your going in numbers will look like and then you can see what your numbers will look like after you increase rents.

make sure to understand all the renovation budget and closing costs you will need and throw those numbers into the mix.

hope that helps

There's a warm feeling knowing that there is someone on your side that you can talk to about the fears, uncertainties and opportunities that we face every day. The other aspect is experience through failure,. This has been the number one contributor to my growth

would you consider other areas such as the south east..

as the saying goes, live where you want, invest where it makes sense..

are you looking for passive investments or do you want to be hands on? i would recommend multiple units just in case that one tenant doesn't pay you have others who can at least cover your mortgage and real estate taxes..

one of my biggest mistakes was not having the equity before earnest money went hard. i can share the story

ruben, what kind of leads of you looking for? explain what services you offer.. ty

yes, mf greater than 10 units..

ask a commercial broker to get you a costar report of the surrounding areas.. drive the neighborhoods and see if there are for rent signs and call and ask how much, renovated...

taylor, when you say small mf, what size? how many units?

in reagrds to coc and cap rates its important to make sure that you can cover your debt service. make sure your dcr is higher than 1.25. you can still make money on lower cap rates you just need to make sure that the rent increase is true and solid. you need to run your market comps for that. year 1 can be low as long as you know that year 2 will be better. you need to make sure to keep your thumb on the pulse of the asset through the first year so there are no hiccups. best to be conservative...

with comps do not trust the websites. you must google the area and find out all the other mf assets in the area and call them or actually drive them and stop in to the office and ask questions. do not rely on websites for comps and do not rely on the selling broker for comps as well. you must do your own homework.