All Forum Posts by: Robert Ruschak

The best advice is to shop a few brokers in your market, and compare apples to apples. We finally found an excellent broker, he's not the cheapest but not the most expensive, but he is very responsive and is always looking for ways to save money. He also makes sure we have comprehensive coverage. An employee stole from us last year, and it was covered with no deductible. We had a fire on one of the units, had business interruption and got paid.

All markets are different in pricing, a general rule of thumb is around 250 per unit.

Best

Gino

Excellent!

Shop around!

What amount are you paying in 2023?

0 Votes

Quote from @Brandon Penn:

I just hit one of my major life goals of owning over 100 units! I just closed a 70 unit deal which puts me at 118 units total. The reason I post this in the starting out section, is it is important for anyone just getting started that it really does start with that 1st deal. I got my start in 2013 by renting out my residential home instead of selling it when I moved. I hadn't thought about becoming a true real estate investor at that time. I just wanted to buy residential homes and rent them out when I moved so that when I retired I would have a little extra income coming in. From there I realized how much I enjoyed being a landlord and thought about maybe doing more than just a couple properties. Fast forward to today and I now have over 100 which has been a major life goal for me for the last 3 years. This allows me the option to quit my job if I ever decide to, as well as secure that I will be able to retire by the age of 45. I'm not where I plan to end up, but this is a huge step forward for me. When people think of success or wealth they see the fancy cars, big homes, and amazing vacations. They don't realize all the time, most of which is unpaid, sweat, and tears that goes into becoming successful/financially independent. They don't realize the sacrifices you have to make with friends, and family. The sleepless nights of wondering how the heck you are going to pay for all these bills starting pile up. My advice to new investors is to just keep pushing through. Make sure you are educated with what you are doing, and just keep moving forward. Eventually everything falls into place as long as you don't give up!

Congratulations.

I would like to JV on an investors deal. The magic of your network and opportunities will allow you to escape the prison planet faster.

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It depends upon your lifestyle. Do you spend $1 million dollars a month like Nicolas Cage do you want enough that will allow you to retire for the next 50 years?

The amount of homes is irrelevant, whereas the cash flow is more important vs appreciation in the long-term.

"Most people" on average will have1 home in America and the "average age" of the 1st time homebuyer is the mid-thirties. USA has become a nation of renters.

Good debt leverage is fantastic if you know what you are doing! Some investors eventually lose their investments when they do not factor in total operating expenses, debt service, cash reserves and potential CapEx!!

My local client wants to acquire over 500+ units and that is achievable with multi-family.

1 Vote

Tyler, Texas

I am looking forward to do some joint investments on very good real estate investment properties.

1) The profits will be split 50/50. Should I and the other investor create our own LLC's and a holding company?

a) Should it be setup as Tenant's in common? This investment partner is not related, and we live in different US states.

b) Should I create both an individual LLC and Holding company? This setup would allow me to remain anonymous.

c) Is it better that we create our separate LLC's and draft up the operating agreement as 50/50?

3) What is the most effective way to pay the monthly mortgage in this arrangement? One party pays 100 percent the first month, then the other person pays the second month, and keep rotating the process?

0 Votes

Interview at least 2 to 3 PM companies!

I work with several local and out of state investors!

Good luck creating a great team out of state!

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Indianapolis, Indiana

I have heard of fantasy stories how some people started with 2 pennies and are on Fortune 500.

Good luck

0 Votes

All Forum Posts by: Robert Ruschak

Robert Ruschak has started 4 posts and replied 55 times.

Post: Building new multi family units

Post: How I built a portfolio of 35 rentals and $10k+ monthly cash flow

Post: how does the realtor get paid in owner financing?

Post: Cardone Capital...anyone looked into this?

Post: Insurance Costs for Multi-Family - How to predict costs

Post: HIT MY GOAL OF 100 UNITS!!

Post: How many homes is your goal?

Post: What is the best way to structure a real estate joint investment

Post: Setting up a team in Indianapolis

Post: I have $10,000 cash, how can I get started in flipping houses?