All Forum Posts by: Tony Nguyen

When I buy/sell Commercial properties (Retail) in Florida, 99% of the time, I have to do an Environmental Phase 1 report to ensure there aren't any contamination liabilities with the land. 

I'm currently buying a 15,000 SF residential lot with the goal of building a 4 unit multifamily apartment on it. What kind of reports should I do to the parcel to ensure I can build on it? 

Thank you! 

Danny, thanks for posting. I'm trying to find where it says if a Landlord does have a Fannie/Freddie loan, a violation of the lease for criminal activities allows an eviction to take place. Any idea where I can pull this info to share it with some others in the same boat? Thank you. 

Hey @Mitchlyn, how do you prevent Tenants from sharing information with each other about the cash for keys deals?  

When offering cash for keys, have you had any issues of the non-paying Tenant spreading the news and influencing others to not pay for the same deal? How would you mitigate that? 

Thank you, this makes a lot of sense. I'll start with 3rd party and go from there, thanks @Percy!  

@Percy N. - Thanks for the response! For the first large property, was your advice here to hire a 3rd party management firm, learn their in's and outs for the first couple years, then duplicate their model myself to ultimately self-manage with my own staff?

@Andrew Campbell - Great advice, thank you. So is your suggestion here to hire and stick with 3rd party groups or hire the employees/staff in-house?

@Matt Nusbaum - I’m a year too late thanks to Covid-19, sorry about that! I’ll PM you.

Hi everyone,

I currently own over 100+ scattered-site apartments, but am not involved with day-to-day management.

For management, we have an in-house team with a leader who directs others what to do. He’s looking to retire and I have replacements for leasing and maintenance. However, of all the tasks at hand, the toughest one I’m having trouble replacing is bookkeeping.

How does everyone bookkeep their properties?

Where do you see lower risk in terms of investing/developing - multifamily apartments or single tenant net leased retail and why? 

Hey Julie, nice flow chart, how'd you make it?

Everyone manages their money differently. When I first started, I actually delayed paying my income taxes for a year to have capital for a down payment. Yes, I had penalties to deal with, but they were small compared to the proceeds I created. In addition, I used methods 1 + 2 that I've written below. 

Investing into stocks/401k is completely up to the individual. For example, I don't which many will say is not the right move, but again, I do better in real estate then I do with stocks/401k so it's my decision to use "concentrated efforts" to make the best return possible on my money. 

To answer your question, what I would do if I were in your position would be one of two things:

1) use sweat equity to find deals and partners to fund them while you work them. In other words, be the operator, find a financier. 

2) find partners to fund your value add investments as a loan (no equity to partners) to grow your portfolio.

This answer can get very, very in-depth so feel free to reach out if you want to discuss, thank you. 

 Love it, thank you.