All Forum Posts by: Yitz Parnes

Thanks!

As I read through and enjoy The complete guide to buying and selling apartment buildings by Steve Berges, I have a question that I hope someone can help me out with. In the chapter on the "value play strategy", he adds a tremendous amount of value to his multifamily project. He then looks to implement his exit strategy. Plans A and B are 2 different ways that he can sell the multifamily and plan C is a plan to refinance. My question is why would anyone who has successfully implemented a value add strategy, and has the option to refi and hold onto a cash-flowing asset look to sell?  

Hey BP As a new investor looking to operate my own multifamily deals, which is the better path to gaining experience and track record, doing my own small multifamily deals (5-10 unit deals)? Or getting a job working for an established RE investment company?   

Hey @matt maitz i am new to the real estate game as well, but from my understanding, talking to investors reading books and listening to podcasts, you should shoot for 100 to 200$ a door per month. So in your example of 240 doors at 200$ a month you will be cashflowing 240x200x12=575k. Thats quite a nice number. ;)

@Debra Mazzone although you do not need to open an LLC prior to your first purchase, I would recommend opening one. An LLC provides protection and some tax benefits that you will want to take advantage of. Being that you will definitely need one in the future, and you only have to gain by opening one now I would absolutely go for it.