All Forum Posts by: Simon C.

@Basit Siddiqi How does it work from a tax perspective converting/switching from an IRA to a Roth IRA since the IRA is pretax and the Roth is after tax?

@Matt Dabek What’s the amortization period on it though? I assume that’s not 10years?

@Jonathan Onny The lender will want to see the net worth of the investors, financial performance of the asset, prior multifamily experience, and also cash reserves Cash Reserves “Post-closing liquidity” is critical for loan approval. The lender doesn’t want you to put ALL your money into the deal. For starters, the lender may require reserves between 20-30% of the loan amount to be held. The lender wants to see bank or investment statements that support your personal liquidity. Those reserves cannot be equity in other real estate investments or IRA’s or 401k’s.

Hi @Oleg Brown

Welcome to BP. Loopnet has listings for all types of commercial real estate including apartment buildings. Some of the listings will provide you with an offer memorandum which you can review and gain insights into the building/location/financials. 

Also, look at the books in the BP store.

@Erik Schneider

These are two good books to help you understand the business model behind apartment building:

1. The Complete Guide to Buying and Selling Apartment Buildings
2. Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits

If you want to learn more about the syndication business model, Joe Fairless has a great book:

The Best Ever Apartment Syndication Book

Hi Taylor,

Why not obtain a loan or raise the capital you need to invest? I believe in commercial real estate loans the banks don't look at business credit, but focus more on GP's net worth and experience in the commercial real estate space.

If you talking about business credit in general, fuel credit cards applied under your entity's EIN is a good start. Some vendors (Uline) can also accept EIN to start a business account.

@Cory Carlson Do you use the data to target off-market deals?

Not sure if there's a market that is not cyclical, but I believe you on the right track. A well diverse economy through different job categories will perform better during a downturn.

@Greg Dorn - those are the properties that we are searching for as well. Have you invested in multifamily assets before?

@Greg Dorn - Hi Greg - what type of asset class are you looking into investing in Phoenix? I'm asking because we are looking for multifamilies in Phoenix and want to connect with other investors with similar goals. Thanks!