All Forum Posts by: Thomas Enright

I don't know how far out from the city center you're trying to go but Columbia, MD which is like 20 minutes away apparently just scored as the lowest crime in the entire nation. It's also a very up and coming area with the likes of whole foods and a few huge developments. 

I know my reply to this is quite late but the principles of finding and evaluating mid-sized apartments are going to be the same as for small or larger apartments but your management with mid-sized buildings is what will be different. The best books I've read about commercial real estate include "The Best Real Estate Syndication Book Ever by Joe Fairless" and "The Real Book of Real Estate by Robert Kiyosaki" Even if you're not trying to syndicate anything, read the first one because it'll teach you a ton about buying commercial sized properties. And as for distance investing, check out "Long Distance Real Estate Investing by David Greene" It's a really good book sort of focused around SFRs but the same principles exist with multifamily.

I think that's an excellent plan. Medium-sized markets will have less pressure from institutional buyers and enough population and diversity to still create growth. Much smaller and it might be hard to find reputable management and trade companies but I'd agree that you should do well in a medium-sized market if you can learn it well.

Don't wait to buy Real Estate. Buy Real Estate and wait.

Yes, definitely tell the lender your intentions. Just like there are owner-occupied loans with way better terms for properties that you'll live in, there are also owner-occupied loans for businesses that will be way easier to qualify for and with way better terms. Idk the particulars but definitely look into owner-occupied business loans.

I love your motivation! Unfortunately, investing with no or low money down doesn't mean investing with no money. You need a bit of cash. $4,000 is barely enough to cover a life emergency like a car crash or family sickness. Definitely keep learning and sharpening your ax and stacking cash wherever you can. Maybe listen to the money podcast and pick up some side hustles. Maybe drive for Uber and listen to every single one of the BP podcasts.

I would say that you own 18 doors but door count is also a poor number to judge someone with. There are plenty of syndicators that have thousands of doors (which is still impressive) with almost none of their own equity and plenty of older folks with 10-20 houses with no debt so it's all relative.

Anybody have any idea about this?

Hmmm I've never heard of this but I'm commenting so I can follow along with the other answers!

Yep, your maintenance will be almost zero but it's almost impossible to buy a new construction property for below market value.