All Forum Posts by: Sam Arbizo

Awesome, thanks!  I"ll start reading these now! 

Michael, thanks for the great advice.  

I've been working with the same lender who I bought my current home with.  She's very helpful and knowledgeable, and optimistic.  I haven't run the final numbers for the pre approval yet but, I have gotten estimations on what the financing will look like.  I do need to look into more detail about buying a commercial vs. traditional property to see how that will vary from my previous experience. 

I'm at the moment looking for long term rentals with cash flow.  I've found quite a few that look promising and think it shouldn't be a problem finding a property that matches my criteria.  I've never been a land lord so it'll be a bit of a jump... I've thought about property management but, from what I've read it can be tricky to find a good match.  I haven't decided on whether it'd be worth it in the beginning.... I do plan on quitting my current job and managing my investments full time.  I've also considered taking the real estate agent licencing course as well but, haven't yet.  

I've heard of portfolio investors....  don't know that much about them and haven't yet searched any out but, I'll put that on my list of to dos.  

Thanks for the reply.

Well I had thought that being 5+ might be more advantageous later..?  I do know that puts things into commercial space, which I thought might be better.  As you say, it's all leading down that path eventually so I figured why delay it?  Plus having larger multi units seems to be more redundant when it comes to vacancy and maintenance.  Do you think it'd be that much more difficult for a beginner to do commercial loans?

Though my credit and job history and such are good, so the conventional loans should also be no problem.  And conventional will most likely be much faster to close?  So maybe it would just be easier in the beginning to work with conventional loans rather than commercial loans?  Less headache and hassle?  Less interest would definitely be a good thing.  Faster closing?  

Maybe I'll reconsider again and mull over what 4plex type properties are available. I had just thought that a larger number of units on one property might make it easier in some respects.

Hey all,

 I'm about to jump into real estate investment.  I would like some advice on what is a good beginning strategy. Let me lay out what I"m thinking.

My goal is to buy 1-2 multi unit rental properties (5+ units) to start.  Working toward cash flow.  I am planning to sell my current home as it's increased in value significantly and I can use this money to start the ball rolling.  

I'm thinking either two smaller properties or one larger 20ish unit property.  I've only bought one house and it was my residence so I'm not sure how difficult the 2nd loan will be to get?  Maybe it would be easier to just go for one larger loan rather than two smaller?   I would also like to buy another home to live in as well. Will having the 1 or 2 loans out for the investments make buying a residence more difficult?  If so should I buy my residence before the investments?  I would think since the rentals would produce income, that they would actually make getting future loans easier?  

I'd be keeping my job and my credit is excellent, so I don't foresee any issues in qualifying for the loan.  I"m just wondering if having a loan on an investment will make securing financing harder for the 2nd or 3rd or 4th.... etc...  

Seems like it should be no problem but, would love to have some input from some folks who know through experience rather than speculation.  

thanks!

 -=Sam=-