All Forum Posts by: Victor Olvera

@Kevin Lechuga @Victor Olvera Do you guys attend a meetup at all now? My office is off of 57th St. I am happy to chat anytime. I am no mentor by any means - but we can usually all learn something from each other. 

Hey victor i also live in temple! I’am a investor as well i won’t be a mentor but I can be a friend with some knowledge 👍

@Victor Olvera   You are in the hotbed of multifamily membership.....there's probably a dozen groups in Texas that provide training, coaching, mentorship.   Lifestyles, Total Wealth Academy, Brad Sumrok, Disrupt Equity, Think Multifamily, Jake and Gino, just to name a few.

However they will want your money.....I would say it is very very very tough to do with low or no money down.  Not impossible, but super tough.  Many of the groups have fairly low startup fees, but may way $10,000-$25,000-$50,000 for mentorship and coaching.  You will need more for investing.  Typical deals you will need a million in net worth, not including your residence and $50,000-$10,000 per deal.   Very occasionally we may see a $25,000 deal or 1 in 500 maybe $15,000 minimum investment, but those pretty rare.

I guess there is some chance that if you go to some of these groups on one of the free or basic trainings and network hard, maybe you can find someone that started small and made it big and then try to work that model.

Best wishes and good luck.

Hi @Victor Olvera! Welcome to the world of real estate investing. I think you are off to a great start by reading up on real estate and looking for a mentor. I would also suggest reading @Brian Burke's book The Hands-Off Investor. This is a great tool when starting out and can offer some really helpful advice. I would start thinking about types of investments you want to start with--active investing v. passive investing. Once you narrow that down, then I would look for a mentor who will understand what you want to do and then you can work together on how to get there. Good luck to you!

Michael Blank's SDA is pretty popular if you're looking at larger properties.

Hey Victor,

Underwriting 2-4 unit properties is relatively simple. It's actually very similar to underwriting 5+ unit properties. If you are able to obtain the current income and expenses on the property, you can assess how the property will perform on day one. Once you start trying to determine the property's potential value after any kind of value add, that's where things will differ. With the 2-4 units, you are generally only going as high as the highest comp in that neighborhood. With the 5+ units, you will examine the new net operating income to help in determining the new potential value. 

Hope that is helpful and good luck!