All Forum Posts by: Chris Strasser

@Jordy Clark See that's what I'm thinking about but just not leveraged as much. If I can find a deal or two, a little bit bigger than just the cash I'll have (maybe 30% LTV), that will bring the same amount of cash flow then I'll have more equity the down the road besides the appreciation.

I can understand why your Client didn't want to buy free and clear. That makes sense if you're trying to expand. I wonder why your Client didn't purchase three bigger properties with the same LTV?

@Tim W. Congratulations! That's great to hear and thanks for sharing. I'd love to hear more about your experience. Mind if we chat for 30 min?

Thanks for the responses everyone. I am planning on reinvesting the total amount. 

@J. Martin  - I hear you on the concerns of out of state and eggs in one basket. Since I'm rolling the total amount l was trying to have it focused on one property with good cash flow so I wasn't biting off more than I could chew. As for size of property, I'm looking at 7-8 units not anything bigger. So whether it's 2 fourplexes (residential) or (1) 8 unit building (commercial) I figured I'd keep it commercial for future lending experience. Make sense? Why start in residential and trade up to commercial when I can get into smaller commercial now. I guess I could buy a nicer 4plex to gain the experience. 

I have the markets narrow down to 4 (Phoenix, Columbus OH, Salt Lake City and Boise). I completely agree that getting the team set up is very important. I'm actually taking Neal Bawa's bootcamp this Saturday so will have the market settled by next week and then dive in.

@Joseph Gozlan While I don't think the loan would be big enough that could be a good strategy. Thanks

@Account Closed 's point interest rates are low. 

Chris

Hi Everyone,

I'm selling a investment condo in Oakland and looking to purchase out-of-state. I'll 1031 the property (owned F&C) but looking to see what others have done in terms of financing and how much to purchase. My overall goals are to cash flow as much as possible in the short term (2ish years) for personal reasons, keep the property and expand the portfolio greatly in the longterm.

My first thought was to buy 1 commercial property all cash with maybe a small loan/HELOC to cover the difference between the cost and 1031 min. and get my commercial feet wet. Now I'm thinking maybe I should purchase with 60-70% cash and purchase a bigger property or potentially 2 properties. I have a primary with mortgage and a getting a HELOC on the primary as we speak.

Again, I'd love to hear the communities thoughts and what others have done. If you have questions, by all means ask away. 

Thanks,

Chris

@Paul Timmins If it's still available, I'd love to take a look at it as well. 

Thanks!

Chris

Thanks @Stefan Isaksen. Saw that it's been cancelled. 

Thanks for the heads up. The 13th is actually better for me. See you then.

Thanks @Chris Mason! I saw that meet up and unfortunately missed last months. Will be attending this Saturday. 

Hi Stefan, I'm new and will be attending. Looking forward to it. 

Hi, 

My name is Chris. I'm like many looking to increase their wealth and semi-passive cash flow. I have a condo in Oakland I'm selling this fall and interested in turning it (1031) into 2-3 MFH's (2-4) or 1-2 commercial (5+).

Short term strategy is to focus on max cash flow for the next few years, learn and then grow the portfolio after that. 

I'm interested in networking and increasing my REI knowledge with eyes on making it full time. Currently researching markets (Sacramento, KC, Indy), financing (most likely all cash) and resources for the first stage.

Open to other niche commercial asset types down the road.

It's great to be here and I look forward to meeting folks and talking about real estate!

Cheers, 

Chris