All Forum Posts by: Tony Sawah

 That's a good start. Definitely. Will do.

 Hey Mike,

I have specifically read three books and watched multiple informational videos on multifamily real estate which is my niche. However, if I want to continue forward with that I must assume more capital or raise capital. I do have a nest egg but those are my reserves and are untouchable. I was looking for something I can do in the meantime to generate more money to help get capital so I can make more deals happen.

How else can I use my time to make money with real estate? I'm planning on getting my license so I can represent sellers/buyers after work.  Not sure what else I can really do after a 9-5. I'm a workhorse and ready to go but just need a little bit of guidance from y'all. I hope to hear some of your experiences and/or ideas on what I can do after my 9-5.

-Tony

Hello everyone thanks for your replies. So the duplex in Chicago is paying for itself currently with one unit rented. I got the property for such a good deal that I really don't want to sell it and in fact want to hold onto it. I'd also like to utilize it down the line and use a cash out refinance to purchase an even bigger property. I'm not really worried about handling expenses on a month to month scale. My mortgage on my property in Chicago is covered for by one tenant and should be fully rented this month. I guess my only worry is using pretty much ALL of my available money to get this property in a time crunch. I think I should. I know it's risky. But in six months I think I'll be stabilized and should build up a good reserve. If I want to stay on my apartment lease for one more month it's double the rent, and if I stay for three extra it's 50% more per month. Six months 35% more per month. I really think I should say screw it, buy a duplex here in San Antonio with FHA, low down. Occupy it, the other side is rented out. Also, @kevin trust me I would love to buy a 3-4 unit right now but FHA requires 15% down and that I don't have at the moment. Should I have been more responsible in the last six months maybe I would have.

Hey everyone,

I was hoping someone can give me some insight on this... So I recently moved to San Antonio for my job last August and my lease expires at the end of July. I probably only have 5k in capital right now and will have almost 12-16k by July in a perfect scenario. There are duplexes in the area that are going for 180-200k that I can purchase via FHA.

I have one duplex in Chicago that is currently half rented. I'm waiting on the property management company to rent out the other unit so it can be fully cashflowing (two weeks now). But basically, I feel that it's going to be cutting it really close. I know I'll be able to afford the mortgage payments of the duplex because it'll be the same price and maybe cheaper than my current rent payment. 

Either way, I feel stuck. My lease ends at the end of July and I'm waiting for my first unit to get rented out by the property management company of my first property and I only got 5k in down payment money right now. I haven't been motivated in real estate but I recently got remotivated and ready to get back in the game. I feel once I get my duplex I'll have my confidence back and get ready to grow. Anyone ever been in this situation? What did you do? 

Thanks for the article, Peter. I read it. I can only imagine how crazy the Midland market is... 25% Change in one year!?

Hello Matt,

Thanks so much for your offering. I'll happily connect with you and reach out to you. Expect a follow-up message.  It's nice to see that the city is growing though.

Peter,

Thank you so much for the heads up. McDougal does seem like a big dog thats doing all the right things there and that'll kind've make it tough to compete. However, my assumption is that the properties that McDougal provides will end up charging a little above market rent. If that is the case I think I'll be able to purchase a multifamily property in which I can have a good NOI and charge at market rent. I'd like to stay away from housing actually. I'm a big believer in the economies of scale and would like to focus on Multifamily Properties, specifically apartment buildings 5-16 units.

 High five man!

I did not make any updates myself as I wouldn't trust myself with any building utensil. I luckily found painters and tilers and flooring men for cheap but did a good job. They're out there, Facebook marketplace, Craigslist, thumbtack.

Hey Alex! I actually invested in Little Village! My range was below 200k and I found really that the only neighborhood that I felt comfortable investing in that range and liveable for me was Little Village. When buying a multifamily in Chicago within that range we're restricted from properties on the Northside, and simple can go west or south from there and as I did my research I saw potential in little village and actually some areas on the Southside. Here are some of my favorite areas I wouldn't mind investing in:

Little Village

McKinley Park

Brighton Park

Archer Heights