All Forum Posts by: Oleg Shalumov

@Amy Tracey welcome and congrats on taking the right steps to your financial independence! 

let us know if you have any specific questions we can help you with.

@Amul Sutaria I would recommend learning about syndication before starting one. 

Once you are familiar with the mechanism of syndication, in your case, if you have funds - you can partner with person who have a deal and looking for the funds. This way you also can see the deal from inside and work on your own deal next (or till you feel comfortable)

@John H. I know that some allows to borrow money from retirement accounts, and interest is being paid directly to retirement account. Pity that it is not the case for you, but never the less it sounds much more convenient then getting a loan from the bank.

@Anthia Rymer why don’t you go to both and compare what they are offering you? 

It is always better to have choices. 

@John H. I am guessing you will be paying that percentage to yourself? I would still enter it as a loan since you 4.75%!would still be part of you payment. 

@Franklin Marte I would think that $45K would be too little for commercial property. I would agree with @Alina Trigub that you should try to househack smaller multi-family (preferably 4-plex). Please make sure you have enough money for reserve as the property may need some renovation after the purchase. 

@Rivers Plowden I would recommend finding another PM who could cross check the info provided by current PM

Cash is always better, as you may knock off the price even more. instead of refinance i would recommend to get "Line of Credit" from the local bank or Credit Union. It is much faster, less expensive and more convenient. If you are not familiar with "Line of Credit" - it is like HELOC on the owner occupied property, or like a Credit Card against your property.

@Andy Sirulnik I do not think you should use Cap Rate for properties under 5 units. Those are residential properties, and should be evaluated by comparable properties. 

@Ayne C. you are reading one of the best books ... you are thinking correctly, but it may potentially take more then 2 years for 12 units