All Forum Posts by: Raphael Collazo

Interesting article discussing the affect "proptech" has been having on the real estate industry over the last few decades:

https://www.forbes.com/sites/forbestechcouncil/2019/07/29/the-new-frontier-that-could-outrun-ai-and-blockchain-real-estate-tech/#6402602522bb

I'm interested to see what new technologies will be introduced in the coming years. What's your take on the future prospects of technology in real estate?

All the best,

We're excited to have you @Vincent McClendon@Vincent McClendon

@Oliver Perry and @Omar Bunch

Yah I'm really excited about the event. It should be a great one. Luke's father-in-law has been investing in real estate for decades and has a wealth of knowledge he's willing to share. Just be sure to come prepared with questions to ask during the Q&A!

Hey @Parker Judd

Welcome to the BP community! I second everything that has already been said thus far, especially the advice about surrounding yourself with other investors in your community. REIA is a great organization where investors come together to learn and network with each other. If your area's REIA is anything like ours, there are a ton of heavy-hitters who attend (both residential and commercial investors). They have a wealth of knowledge they're often eager to share with younger investors; especially if they're serious about taking action. Along with that, one of the best ways to start investing in multi-family properties is through a technique called "house-hacking". It's talked about at length in many of the podcast episodes but essentially you purchase a small multifamily property (2-4 units), live in one of the units and rent out the others. The benefits of this method are that you significantly subsidize your living expenses, you're able to qualify for owner-occupied financing (i.e. 3.5% down (FHA) or 5% down conventional), and you gain experience being a landlord for the first time. I purchased a 4-plex in Louisville which I've been house hacking since March. If you have any questions about the process, don't hesitate to reach out.

P.S. 

To learn how to evaluate potential deals, I highly recommend you read "The book on rental property investing" by Brandon Turner. He lays the exact formulas you need to follow in order to determine if an opportunity is a good deal or not. Along with that, I HIGHLY recommend you read "Set for Life" by Scott Trench. It's easily one of my favorite personal finance books and it's extremely applicable to someone just starting out in their career (i.e. 18-25 years of age). Hope this helps.

All the best,

The Louisville Real Estate Investor Meet Up group is for aspiring, beginning and full-time real estate investors interested in networking with other like-minded individuals. During our monthly meetings, we share ideas, learn from one another and host speakers who talk about subjects related to real estate investment.

In this meeting, Sam Berry, successful real estate investor and Christina Berry Neubauer's father, will talk about how he got started investing in real estate and how he was able to accumulate a large portfolio of investment properties over time. After his presentation, we'll open up the floor for a Q&A session. The event begins at 6:30 pm and he'll start his presentation around 7:30 pm. Come join us for a night of networking, learning and enjoyment as we utilize the great space provided to us by The Manhattan Project!

Do you plan on living in the home? If so, you may want to consider purchasing it using an FHA 203k loan. A 203k loan is "a type of home improvement loan program insured through the FHA that works by allowing homebuyers the ability to finance the purchase and costs of upgrades through one single mortgage." In other words, you'd be able to purchase the property and fund the rehab costs using an FHA insured loan.

The benefit of this approach is that it helps the borrower pay for the purchase price of the home, plus the cost of repairs. You would end up with one fixed-rate FHA loan, and a home that's in much better shape than when you found it. Hope this helps.

All the best,

Hey @Stephen!

I would recommend checking out "How to manage residential property for maximum cashflow and resale value" by John T. Reed. Although I have not read this book in particular, I have read several of John's books and they're absolutely phenomenal. He's extremely granular in his analysis and leaves no stone unturned. I've provided a link to the book below:

https://johntreed.com/collections/real-estate-investment/products/how-to-manage-residential-property-for-maximum-cash-flow-and-resale-value-7th-edition

Also, if you get a chance, I would recommend reading his book "Aggressive Tax Avoidance for Real Estate Investors". It's probably his most well known work and it's the best book I've read on real estate taxes. Hope this helps.

All the best,

Hey @Eric Shadowens!

If you're interested in meeting other investors, K.R.I.E.A is a great place to start. They have their meetings the last Thursday of every month and always invite great speakers to talk about real estate investing. Also, If you're looking for a meet up, we organize a real estate investor meet up the last Wednesday of every month at "The Manhattan Project" restaurant on Frankfort Ave. It's a laid back environment where we hang out, have a few drinks and talk about real estate investment. Hopefully I'll see you around either one of these events in the future!

All the best,

Hey Michelle!

I have to agree with @Alina Trigub. There are SO many great books out there. However, below I've provided a list of my top 5 favorites:

1. "Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits" by David Lindhal
2. "Crushing it in Apartments And Commercial Real Estate: How a Small Investor Can Make It Big" by Brian Murphy
3. "The Book On Rental Property Investing" by Brandon Turner
4. "What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures" by Frank Gallinelli 
5. "Aggressive Tax Avoidance for Real Estate Investors: How to Make Sure You Aren't Paying One More Cent in Taxes Than The Law Requires" by John T. Reed

These books will give you a solid understanding of sound investment principles which you can use to build your multi-family portfolio. Good luck on your real estate investing journey and feel free to reach out if you have any questions!

All the best,

Great article on Yelp's analysis of the economic prospects for Louisville. Excited to see what the future holds for the city:

https://blog.yelp.com/2019/07/yelp-data-identifies-five-boomtowns-around-the-country