All Forum Posts by: William Alonso

Hey Eric, I personally did a 203k loan when I purchased my primary residence as well, and I'm a fan.  I agree with the other posters, be sure to choose a lender who is very familiar with getting 203ks to the finish line.  If you choose a good lender who has done them, they should also be able to recommend good contractors that they've worked with.  Their relationship can be important as they will be submitting receipts/receiving draws back and forth so if they've worked together it will just make it easier for you.   

@Bryant T.

Our company, Stratagem Realty, manages over 300 units in Columbus and we do manage in parts of Linden. I would need a little more info on the property to let you know specifically but it’s possible. Feel free to reach out to me if you would like to discuss further.

Thanks!

Hey Bryant, our brokerage doesn’t yet invest in Linden but I know a lot of people that do. I’m not the best with area statistics to back up anything I have, I just know that typically we like to get into an area maybe a little later in the game and know it’s already gentrified.  People have been talking about Linden for years and I do believe it will be a valuable area to be in eventually. In short if you can make the numbers work I think you’ll be just fine and you will see appreciation eventually although it may be slower than some other areas. I know some investors believe heavily in the area as well so I wouldn’t necessarily be scared off from investing there.  Hope that helps some. 

Thanks Jeff, I will try to make the call.  

I appreciate you setting it up!

@Ty Doke

Hey Ty, ask your advisor to estimate his total return after 20 years and have him show you his calculation. You can run the numbers yourself using the compound interest calculator on Money Chimp so you can go in prepared and know if his numbers are accurate. Then show him your #s if you take that same amount of cash and put into the real estate for 20years. Of course you’ll have your cash flow, the equity you’ve built by appreciation and having the renters pay down your loan, and of course the tax benefits of owning real estate. The investment in real estate will win, often times by almost double. You can then add in what the other poster mentioned about diversification. Then ask him why it wouldn’t make sense to diversify and get a likely higher return on real property. I’m willing to bet you’ll be selling him at that point.

Hey Mitchell, welcome to the world of investing!  

If you ever look at investing in Columbus, OH please ping me and I'll be happy to assist.

Thanks!

@Trent Ecklar That's a solid # to look at it.  Seems as though it would simplify the decision making process. 

@Remington Lyman Nothing wrong with going with your gut and acting on solid advice.  Whatever you're doing seems to be working very well!

Thanks guys I appreciate it!

Hey all investors,

I'm curious to know what metric most of you are looking at when determining whether to pull the trigger on an investment. I know you have to take the property as a whole and all look at all numbers, including location, NOI, Cap rates, future value speculation, Gross rent multiplier, etc, but is there 1 main item that you're looking for that helps you decide on whether to pull the trigger and purchase?

Thanks in advance to all those who share.

Thank you!

Hey Kevn,

Congrats on moving into the world of Real Estate Investing.  I spent most of my career as a Mortgage Consultant working for companies like JPMorgan and Huntington.  I wish I would have started at your age and made it a career at that point.  With that said, I think you're on the right track already.  I would recommend reading one or two of the BP Investing books as a starting point as they are extremely helpful.  From there, taking action is the toughest challenge for most people.  

Good luck sir!  

Hi Chloe,

Welcome to BP and congrats on starting your new career.  You're at a great place and I'm sure you'll be very successful.    Listen to your mentors, build your network, and set goals (the BP journal is great for that by the way) and you'll be in great shape!

I wish you all the luck!