All Forum Posts by: Gerardo E. Saldana

Hahahaha. Regardless on which side of the fence you stand about Robert Kiyosaki, you have to admit he is a great marketer. Look at this threat! It is now five pages long of people arguing one single statement that Kiyosaki made: "Your house is not an asset". 

That aside... has anyone read the book yet???

Thank you to everyone who posted. I just watched an online presentation by Marco geared towards the "Corona Crash". The presentation went pretty much as described above by a few of the people posting and had a price tag of $1,995 for his 3 day online class to get you started.

@Bruce Petersen

Thank you Bruce. I understand, multi family has the advantage of more cashflow per door, cost savings through economies of scales, and increased appreciation whenever the NOI is increased.

I do want to move to MF soon. I recently used all my cash ($200,000) to purchase a couple lots of vacant land at a huge discount near where I live. I want to add value to the land via modular homes, then refinance and use the money to look for MF.

Bruce, in your experience, is it also possible to find banks that will finance multi family property purchases based on their value (true LTV) and not on their purchase price? Or is a downpayment always needed for multi family?

Thank you Ben. The $100 (after all expenses and allowances) per door does make more sense if the property is 100% financed.

Thank you everyone for your input. I understand and agree with the general points mentioned about the IRR and, the price of the property, the type of financing, etc.

Hi guys,

I need clarification on a phrase I hear often times around investing in rental properties.

Often times I hear the whole "your goal is to make $100 per door..." in podcasts, seminars, bigger pockets webinars, etc.

I understand that the whole idea of getting $100 per door is net - after paying the debt service, insurance, property taxes, property management, utilities, CapEx savings, repairs, maintenance, etc. However, even if we are already accounting for vacancy rates, getting $100 per door seems very risky. One troublesome eviction (they sometimes still happen even with great tenant screening) can crush many months worth of profit if your net profit is only $100 on that one unit.

So... have I been misunderstanding this phrase/suggestion this entire time? Is is the $100 per door also too low for you guys?

Also, how much do you aim to get as a minimum per door? What are the minimum GRM and CAP rates you like to see on your rentals?

Congratulations Sean! 

As others have said, keep the momentum going!

You mentioned that it took you about 6 months of combing the MLS to analyze 100 properties, make 7 offers, and get 1 accepted. These are your ratios so far 100-6-1.

So... what could you do so that you can analyze another 100 properties in 3 months (half the time) or less?

Way to go Kendra!

Thank you for sharing this story and also your progress over the years that followed.

Grit, grind, and hustle!

Congratulations on your success!

Your story is inspiring, thank you for sharing it with us.

Grit, grind, and hustle!

Thank you very much for the tip Sean. I went and listened to the podcast you suggested and learned a bit from it. I had never heard of the "delayed financing exemption" before, this sounds like a solution to my "problem".