All Forum Posts by: Alex Deacon

@Stephan Rehoric Stephan you can have all the properties on one sales agreement. I buy multiple parcels on one sales agreement all the time. 

@Cameron Paterson Cameron you should be careful with a large purchase like this. If one major tenant moves out you would be in a horrible cash flow position. There are so many ways to work the numbers but keep that in mind along with making sure you set aside enough for repairs. Especially if its an old building. repair costs will kill you.

best of Luck to you

@Travis Bodnar Travis the best way to see the market trends is to get out there in the trenches. It will take years for you to understand the market. I am still learning even after 25 years in the business and thousands of transactions under my belt. I still make mistakes. Buy low and sell high and it is that simple. But its not easy. 

Best Wishes
 

@Justin Frye Justin you can also check with agents in the area that you see their name come up a lot on investments etc.. They will have the inside track on the big hitters in your market.

Good luck

@Robbie Taylor @Josh Mitchell @Peter Mckernan Robbie I agree with you 100%. That's the best way to build wealth the safe way and there is absolutely nothing wrong with that. If you want to grow your portfolio at a faster clip then you have to leverage. Its that simple. Josh and Peter have very good points. Its all really up to you the investor which strategy you want to run with and your comfort level.

Good luck with your ventures

@Luis Crespo Luis when you buy a 5 unit its considered a commercial loan regardless if you buy it in your personal name or an LLC. The rate and terms are different for commercial loans. You should talk to a few small local investor friendly banks and a mortgage broker who can help you find a home for your project.

Best regards

@Clint Dodson Clint I have 4 current clients who lend me money to buy my reals estate projects through their SDIRA. I pay between 10% and 13%. If that interests you we should talk. 

@Zacharias Salva I would look into the costs per year to have a license. One purchase will most likely pay for all your expenses and some and if you sell a few properties to clients you will make some extra income. I have 22 years in the business and I buy 5 homes a month and I was a mechanic before this. I did the same thing that you guys did to start out. Worst case scenario you try it for a few years and dont like it then stop. its the cost of at least trying and giving it a shot.

Good Luck

@Devin Martinez Devin I am a Broker in PA and have been for 22 years. I would suggest talking with some smaller mom and pop agencies. She doesn't need the big real estate company name so why pay the big real estate company fees. The fees will be a lot less and they will have more latitude with your wife. Call around to three or four companies and ask these questions that you have posed in the forum. In PA you just have to get Broker to represent you until you get your license but then you can go to any company once you are licensed. 

@Casey Randall Lenz Casey just slow it down. Most folks who buy that many just starting out fail in a few years.  I have seen in time and time again. Best to take your time and find a good solid deal.  You can surely buy with little or no down payment but in those cases you typically lose all of your negotiating leverage and are buying someone else's problem  there is usually a reason they can't sell the property conventionally. Now I am not saying you can't do creative deals because I have done plenty but stick to your guns and make sure the deal cash flows and it makes good solid financial sense.  Once you grow your portfolio your finances will increase and you will be able to buy more properties and more quickly build your portfolio. Read the book rich dad poor dad and the book the compound effect.

Best of luck