All Forum Posts by: Simon Cox

@Ethan Bruland Some good advice I was given in valuing multi-families is always calculating in those extra expenses (maintenance, vacancy, management, etc.) to make sure the deal is really worth it. It should be producing a positive cashflow after everything is accounted for. If you are able to erase some of those expense after the fact, it's icing on the cake. 

If you're not looking for that immediate cashflow however, what I said just might be irrelevant. :P

@Nikolas Buchholtz I agree with Lance, learn as much as you can right now. I highly recommend the new BP book "The Book on Rental Property Investing."

Good luck!

@Warren Johnson sounds like you're in a great spot to get started. Best of luck, i'll be looking forward to the success stories!

Decide what your goals are then start hittin' em!

@Alex Franks I would love to see those if you don't mind. I don't want to breeze through setting this up and skip things because I don't think they would happen. 

@Alex Franks Spot on!

@Donta Busch Thanks for the input!

@Charlie Fitzgerald I think you're right, it comes down to preference and how comfortable an individual is with the risk involved. For our situation, I feel that he's got his work cut out and the value of that seems closer to 50/50 than 75/25. Thanks for your response!

@Todd Plambeck I'm putting down 100% of the money required for the loan!

@Charlie Fitzgerald the loans would be in the name of an LLC.

@Todd Plambeck I agree with you on the marketing, I want to make sure I can do anything possible that isn't location dependent. 

So I just got opposite answers from both of you guys, how would you challenge/address each other on those points?

@Hattie Dizmond You and @Alberto Camacho make a great point. DM might not be the best route at this point. I'll have to talk with my friend and see what he thinks. Awesome advice about the schools too!

@Todd Plambeck I"ll look into that for sure. Thanks!