All Forum Posts by: Eric Bilderback

I live in Sisters Oregon.   I have had some limited experience with real estate, but I do love it and read about it all the time.  I had all my money tied up for a while due to investing in the hight of the market and have now sold the place I was investing in with my partners and did a 1031 exchange into a small 15 unit apartment complex it is makes about 2k per month +/-.   Anyway it feels good to feel like a mover and shaker again and I just finished my real estate class and am taking my test to be an agent at the end of the month.  I have been listing to a ton of podcasts and am really getting excited about real estate again.   I have been working about 60 hours a week doing my job and at a little side business I have landscaping.  I am hoping to have more time with the family.  In fact if any of you guys have an opinion I will just ask now.

I make about 45k at my job and then another 10k at my business.  I am sad to say I don't like either but it is guaranteed money which I don't take for granted (my wife is a stay at home mom).  Here are my options;

1.  Keep killing myself and by another couple deals this year maybe get myself up to 2.5k or 3k passive rental income.  Use my license for myself.

2.  Quit my job do only the business which will take a lot time and energy but I will make about the same and then keep grow it.  (I don't like this because I don't think bank is going to give a loan if I quit my job.)

3.  Say the hell with it and try and see if I can work as a realtor.  That sounds risky though and again I don't think the bank will like it.

Any advice would be very welcome,

Eric

 My bad!  There was another podcast after the first one I listened to where you got into that.

Congrats 56 units is pretty studdly!

Eric

I listened to your podcast today.  Am in a somewhat similar position right now would like to know what happened in regards to your sub metering.  

Thanks for sharing everything it is very helpful,

Eric

I like Memphisisinvest a lot from what I have read online.  I am looking at putting the capital from a 1031 exchange from the apartment complex I am partial owner into some of their properties.  

Would love some feed back to these questions from anyone who knows or has an opinion,

What is the typical down payment required from their lender?  (On the properties they have listed the cashflow is based on what?, buying it with cash, 0% down, it doesn't say).  I'd also like to know the interest rates they offer are and if they are fixed rates?

Most importantly what is typical ROI and COC? What can I safely expect? Is it unrealistic to expect 8-10% cash back?

Thanks in advance for the help

I am doing this almost exactly right now.  My research so far Is Ohio, Indianapolis, Kansas City, and Texas.  I have found what I believe is a good honest realator in Kansas.  I learned today however there is another 3k units being built there.  Hope you get good feedback I will look forward to reading it.

I should looked.  My bad.

So here is the deal, I would love to hear your opinions.

I have money in an apartment complex here in Oregon I own roughly 1/4 of it, and have been totally passive in the operation.  The complex is going up for sale fairly soon.  One of the owners is a commercial broker and is selling it, which is fine.  But I was thinking I should be my own agent and find and close the deal when I buy the next place, and keep commission myself or subtract it from the price of the complex.  I think the next place will be 600k to 800k (assuming a down payment of 25-30%).  I feel I know the market as well as anyone and understand valuations etc.

I was hoping in addition to buy an additional duplex-quad next year which I could get a commission on as well.  

I love investments and real estate but I don't want to be an agent for others unless it fell in my lap.  I'm not what you would call a schmoozer. 

Have you ever thought of doing this for yourself.  I don't think anyone will do as good a job for myself as me.  What say you.  Thanks again.

Eric