All Forum Posts by: Aaron Schwab

Update: I passed on the property with the pool and bought a property pool free...I do have a fire station in the back yard though.

Hey everyone, I just wanted to get investor/property management folk who have homes or have had homes that have pools in the backyard. Is it worth it? Too much of a liability? What the heck guy, next question?

Thanks,

Aaron

Few questions before deciding if it's a good deal or not:

1. May I assume that the decision between buying or not buying a 16-unit apartment building means you've had experience in managing and owning rental properties before?  If you've had experience with owning and operating a larger multi-family building (5+ units), then I say "why not?".

2. Have you already used the rental property calculator via BP?  It's a good way to plug in your numbers, and although I've never used it for anything larger than a four-plex, I assume it's the same math with different numbers.

3. How is the location with regards to things like crime, median income, etc.; Is it increasing in value?

4. Five percent isn't that bad, especially when you can finance 100% of it, thus saving your cash reserves for something else.  What's the current value of the property?

5. What does the rental history look like?

What are some of your upgrades or added features to your rental properties that tuned out to be very successful and also include any disasters. For example has anyone ever added a professionally paved fire pit? Or a pergola? What happened both good and bad. Also, include financially if they truly helped improve your property.

I'm in need of a real estate agent in the OKC area preferably someone who owns and or manages multifamily units. I need someone that truly understands multifamily properties. Looking to buy within these next two months. Aaron

Brand new to BP and investing and I'm excited to meet local investors of the sort. Count me in!

So after reading and doing research and attending seminars, I'm still in question regarding how I should list my future company. Do I start an LLC per property so my entire portfolio doesn't come under fire if something were to go wrong? Do I have one LLC but then several DBA? What are some of the ways you are doing business as? Sincerely, New Investor

Originally posted by @Matthew Brill:

Hey James, welcome. There are two REIA groups here in okc. One is called millionaire possibilities which meets every first Thursday of the month. Millionairepossibilities.com

The other meets the second Thursday of every month. OKCREIA.com

I attend both. They are great and usually have a good turnout. The websites have information about exact times and places and event topics. 

There is third event that meets once a month, however, it's during the week at noon so I haven't been able to attend to know more about it. 

Do you know which real estate arena you're interested in getting into?

Hope to see you around, both the meetings and BP. Shout if you need anything. 

Matt

Matt,

I would also like to introduce myself as a new investor to the area as well as being brand new to real estate. I'm focusing on multi-family units right out of the gate. I'm hoping to attend some of these meetings for this new month of November.

If you're available to meet for coffee I'd enjoy picking your brain about the wonderful world of real estate.

Best,

Aaron Schwab