All Forum Posts by: Patrick Flanagan

I totally agree! I own properties Out of state and in state. So I’m not opposed to out of state. I’m trying to target sub markets of bigger cities in Oregon. I need to have a lot more practice on underwriting

do you think I could practice those things on deals I’m not buying? Or do you just have to learn as buy more deals? 

Hello!
I’m looking to buy a smaller apartment complex(16-24 unit) but not opposed to smaller or larger. 

Just curious what were some of your top mistakes that you learned from when you started buying apartment complexes? Or things you have seen happen to a newer investor in the commercial space. 

Thanks,

Pat

Hello
My next step in my investing career is buying a smaller apartment building. My time frame for buying is next year. I'm looking for off market deals. What do you think is the best way to get a hold of potential apartment owners? I find a lot of apartments on propstream but I don't know how to sift through all the LLC, trusts and corporations. My goal is to contact and have a sit down meeting or phone call with the owners. So before my goal of buying a place next year is to sit down with as many apartment owners as I can.

Any tips? 
thanks,

Pat

@Christian Decker

It’s pretty good. But you have to skip trace llc’s and trust’s. I noticed it doesn’t pull up all the apartments too, I was doing a search and realized it doesn’t show all the buildings.

Example I search 5+ multi family/ commercial properties in my area. Like 2 apartments showed up. We have like 30 apartments in my area..... but you can scroll around on the map and click on a property that’s not marked and get the same info. So that’s my strategy, find the deals that people can’t see very easily.

My search is narrowed down to owners that have paid off commercial real estate and have owned for more then 10 years. So I can possibly ask for owner financing.

I’m a little cloudy on the specific tax Benifits you get from owning rental real estate.

So please correct me if I’m wrong....

I bought a 4 plex this year with a VA loan, it's considered my primary residence. I don't make money in it each month due to living there. I will once I move out.

I bought it for 750k, so would I divide that by 27.5 years?? That would be $27,272. So do I get to deduct 27k off my taxable income??

Hey there!

I’m looking to connect with anyone in the pacific north west that invests in small and large multi family properties. I’m looking for my first small multi family apartment complex. I’d love to hear how you bought your first deal. It would be great to bounce ideas and strategies off each other. I look forward to learning from you!

@Taylor L.

I agree thank you!

@Charles Seaman

Great thank you

What all do the touch on and teach.

Lance Edwards wrote the book how to make big money in small apartments. It was really good.

 I was just curious what you recommend is the best course to purchase to learn everything about apartment complex investing. I was looking at buying the Lance Edwards course in small apartment investing, but I'm open to recommendations and suggestions. 

thank you