All Forum Posts by: Pamela Villa

Hi all, 

Looking for recommendations for a durable and stylish pullout couch for our cabin in the Smoky Mountains. Thank you!!

Hey @Chris Boselli! Thanks for sharing. It was great to read about how you figured out it out with the lenders and didn't get too discouraged when things weren't working out initially. Would you mind sharing how you found your first deal?

Hey everyone! I'm looking at a 4-plex and would appreciate any insight on two Qs.

1) Submitted request for more info on loopnet and got some videos and an exec. summary but nothing detailed and no financials. While it's not technically commercial, (at least not from a lending perspective since its <5 units), I get the sense it's being treated that way by the broker. Would love your advice on the documents I can reasonably expect to get in terms of financials (or any other docs) before placing an offer since it seems to be in this in-between space. The broker didn't include pro forma in his email - just general info about the building. 

2) The building was gut renovated recently and looks well done. But the original building dates back to 1876 which makes me uneasy to say the least. Even with the best renovation, I know buildings this old will likely cause major problems even if they advertise minor repairs given the "quality of the build" (i.e. the gut reno). Do you all have any advice? Does anyone own any property this old that was gutted? Thank you all!

Pam

Hey @SALIAH S. Check out these books

- The Best Ever Apartment Syndication 

- The Millionaire Real estate Investor

@Jackie Escamilla Can you share more info about the property you're considering?

@Account Closed

If you have a lot of time, exploring both isn't a bad idea. But if you are strapped for time or already have another job, I would recommend focusing one first (either becoming an agent or investing). Growing your proficiency and making traction will require a considerable investment in terms of time and energy for either path forward so doing both at once may slow your progress IF you have a lot going on already.

Hey @Jon Dittrich. Congrats on a great deal! What are your thoughts as you progress through the  stack? Are you glad you started with SF for the learning experience or would you start with the duplex if you had to do it over (maybe too soon to tell)?

Congrats @Ryan Eder on sustaining your motivation and following through with your goals!

@Ariel K.

Great question... It depends on your goals and what you're trying to achieve. A key factor to consider is how much time you want to spend managing your investments. Multi-family as an asset class is more efficient than SF, but you can go about investing in MF in multiple ways depending on your situation i.e. if you invest as passive, you're not doing any work beyond vetting out the team/market/etc. If you have the time/capacity/desire, you can invest actively, which will require a lot of work up front to get yourself to a place where you understand the business and have formed the relationships, etc. There is no "wrong" answer. 

@Joe Moffett

I would stack up your short list against the following key indicators-- population and job growth, diversified job market, business friendliness, market cycle @ the local level. As other folks above mentioned, familiarity with the area and/or strong partners should also factor into your decision.