All Forum Posts by: Ryan Cox
Ryan Cox has started 7 posts and replied 259 times.
Post: Newbie in York,PA !!!

- Investor
- Austin, TX
- Posts 263
- Votes 186
Welcome to BP @Christopher Rodriguez! BP is a tremendous resource with lots of educational tools & smart people to help you in your journey.
Post: Good day BiggerPockets Family new member here

- Investor
- Austin, TX
- Posts 263
- Votes 186
Welcome to BP @Robert Los Lots of good conversations and smart people!
Post: Debt consolidation decision

- Investor
- Austin, TX
- Posts 263
- Votes 186
@Account Closed Consolidation can be a trap, by lowering your monthly payment but extending your term thereby increasing the total dollars spent to pay off your debt.
Can you pay off your debt with the sales proceeds from your house?
Post: Advice on how to get started.

- Investor
- Austin, TX
- Posts 263
- Votes 186
Start going to your local REIAs and meetups.
Build relationships with local investors.
Participate daily in the conversation on Bigger Pockets
Post: Is it a good idea to invest alone?

- Investor
- Austin, TX
- Posts 263
- Votes 186
@Arturo Borges Good question!
For me this is a question about scale. Can I grow my business faster by myself or with partners? Having good partners is critical to my success.
If the question is about executing one deal, I think there are some considerations to keep in mind when taking this approach.
Depends of the size of the deal (# of units) and the loan amount.
Being able to raise the entire equity required for a down payment and capital improvements is a good thing!
Things to consider:
- What expectations do your investors have of you to bring your own capital to the deal. Most investors want you to have skin in the game.
- Fannie Mae (5 or more units) would want the borrower to have a good track record, good credit and a few years of history operating apartments.
- The key principal (general partner, managing partner, any person or entity with a 50% or greater interest) to have liquidity of 6 months of debt service
There are lots of programs and lenders whose requirements vary greatly but you should consider that some level of experience + net worth is typically required for financing a multifamily deal. (That's not to say that it can't be done without one, the other or both - I bet there are quite a few testimonials out there proving otherwise.)
The upside to doing deals by yourself is that you get to keep all of the upside as agreed upon with your investors and control the investment decisions.
I believe multifamily investing to be a team sport best done with a partner or partners. To be successful you need to be really good at sourcing deals, raising equity & managing the asset.
Post: Intro: Boulder,CO newbie ready to dive in !

- Investor
- Austin, TX
- Posts 263
- Votes 186
Welcome to BP @Chad Smith. Lots of good conversation and smart people here. I spent a number of years in the tech industry and have been happy and fulfilled with the full time pursuit of real estate investments. Wishing you success in 2018!
Post: Multi-Family Unit renovations - most worthwhile improvements?

- Investor
- Austin, TX
- Posts 263
- Votes 186
@Account Closed Reducing operating expenses can create a lot of value at sale. Energy efficiency - low flow toilets, shower heads, HVAC improvements, etc
Post: How to scale up to multifamily?

- Investor
- Austin, TX
- Posts 263
- Votes 186
@Logan Jorns There's lots of ways to skin a cat!
A book that gets mentioned quite a bit on the MF thread is Steve Berges' "The Complete Guide to Buying and Selling Apartment Buildings"
In the book he lays out a model for scaling in multifamily that could help you (disclaimer: there are lots of ways to do it, this is just one example)
If memory serves it went something like this.
Apartment #1 -
- Purchase $100,000
- Down Payment $20,000
- Increase Value 20%
- Sell for $120,000
Apartment #2
- Purchase for $200,000
- Down Payment $40,000
- Increase Value 20%
- Sell for $240,000
Apartment #3
- Purchase for $400,000
- Down Payment $80,000
- Increase Value 20%
- Sell for $480,000
A lot of work and smart decisions need to happen for this to work but theoretically you could scale to a very large property or portfolio of properties.
Post: Help me figure out a way to reduce my debt to income

- Investor
- Austin, TX
- Posts 263
- Votes 186
@Jason Dale Have you considered finding a partner for the deal? Half of something is better than all of nothing.
Post: All Cash, Big Risk, First Investment, critique my strategy!

- Investor
- Austin, TX
- Posts 263
- Votes 186
I would be careful about "putting all of your eggs in one basket" If you are not in a position to get a loan, I would look to partner with someone locally who has experience with SFR buy & hold. You can start off with a smaller investment and learn the business from someone with experience. Protect your capital!