All Forum Posts by: Joel C.

Hello,

I have several rental properties I'm thinking of liquidating to move the cash into other assets. But, I'm going back and forth on whether it's better to sell or refi. In my area I think real estate has gotten way overpriced and I anticipate the market to reverse downward, which is one reason I'm looking to sell and get out of real estate for a short time, to then buy back at lower prices. Here is my portfolio. I'd love some feedback and guidance.

Property 1 (Duplex): Value = $550k, Debt = $150k, Cashflow = $1150/m
Property 2 (SFR): Value = $200k, Debt = $61k, Cashflow = $483/m
Property 3 (SFR): Value = $111k, Debt = $0, Cashflow = $1000/m
Property 4 (SFR - Personal Residence): Value = $473k, Debt = $159k, Cashflow = $0
Property 5 (SFR): Value = $142k, Debt = $112k, Cashflow = $285/m
Property 6 (SFR): Value = $144k, Debt = $103k, Cashflow = $434/m

My goal is to get as much cash out so I can roll that into other asset classes. 

Thanks for your guidance and I won't consider it financial advice ;)

Thanks @Bjorn Ahlblad for the feedback. Pardon my ignorance but what is LLing :)

@Christopher Hunter thanks for the resource. I'll check it out.

So I'm looking to sell one of my investment properties that has about $200k in equity in it and roll that into an apartment building. I've never invested in apartments (I've been doing SFH and duplexes for years) so I don't know where to begin. Here are a few questions I'd love some input on.

1. Should I look at partnering with someone first or go ahead and buy my first apartment?

2. I typically like to buy/hold to maximize cashflow over time, while at the same time adding value/equity to the property so i increase overall value. Is it possible to hold an apartment complex like a SFH for 20+ years for cashflow?

3. Are there any good syndicators I could partner with to gain experience?

4. How would I go about financing the purchase? Is it similar in the sense that I put up 25% and get a loan for the remaining 75%. I've heard about 5/1 ARM and other types of loans, would these be the best loans for a long-term buy/hold strategy.

5. Is a buy/hold long-term strategy the best for apartment buildings?

Thanks for y'alls help.

Joel

Thank you Joel for some awesome advise. I am definitely interested in cashflow at this point but some appreciation would be nice. My first goal is to replace my expenses and "retire" so I can then focus on growth. It would also be nice to do another 1031 in several years to upgrade.

If I work with a broker in Austin, TX will they bring deals to me from another state or do I have to find a deal first then reach out to a broker in that area?

I have a duplex with about $150k in equity that I'm thinking about doing a 1031 to buy a small apartment complex (around 20 units). I don't have one in mind right now and honestly I don't have a market in mind. I'm open to any markets. Here are my questions:

1. Should I use a broker since it's my first time investing in apartments?
2. What is the minimum positive cash flow you like to have per unit?
3. Is it bad that I'm looking in all markets, just looking for a good deal?

Any advise on how to start, who to contact, and anything else I should know but don't know to ask would be a great help.

Thanks.

Joel

I know this thread is quite old but I'm looking at getting into apartments and would love to get access to this analysis spreadsheet if possible. Thanks for your help.

Joel

Hi everyone. Thanks for the feedback. My main reasoning for Chicago is I've heard good things about the market so I  thought I'd get some feedback and check it out. Yes Texas is great but many markets are exploding so it's more difficult to find good deals and people are willing to grab a deal at a loss just to grab the deal.

I'm also looking at Kansas City, and Indianapolis as potential areas as well. I was mainly looking for contacts I could reach out to in order to get a gauge of the market.

Thanks again for everyone's feedback.

Joel

Sounds good Aaron. I'll send you a PM.

Hello,

I'm an investor located in Texas and I'm interested in branching out to the Chicago area. Can anyone recommend agents, contractors, property managers, and lenders that specialize in that area?

Thanks.