All Forum Posts by: Alex Jamael

Currently have 8 units over two buildings and looking at a bigger acquisition. I found a great 36 unit complex spread over 3 buildings, great shape. Ideal price to acquire would be 1.7m, net profit of $156,000 per year. I am looking at raising money for the 20% down payment, I have been thinking of either doing a 8-10% roi for investors OR offering an equity Stake in the property. 

Questions:
If you do an equity stake; does it get complicated with having separate owners , having to draft legal docs etc? 

The 8-10% Investment option have many people had good luck with this and particularly anyone raising 100% of the money? 20% down payment private lending and 80% bank ?

sorry it’s a long one appreciate anyone’s opinion!

@David Santore

Hey David,

I bought a 4 unit in September with natural gas.. although it is very efficient (cheap) to heat for the gas, we had a repair in November $700. And then another repair $300 a few weeks ago.

My other 4 unit is electric heat paid by tenants, if anything goes wrong I send an electrician in not a Natural Gas technician!

@Darren Lenick

Still haven’t figured out Bp.. send me a message on here if you can? Would like to meet !

@Christopher Raiz

Either or.. partnership might be better as they can put in half the work so if you are away or anything? I’m away a lot as my job is on the road

@Christopher Raiz

Hey Chris,

I’m 21 and I was in a similar position I had 15k for my first spot.. I was looking for a single family type home with a basement apartment or something of that type. I ended up finding a three unit and knew I had to have it. I had a great business connection much older than me who ended up going 50% in on the property and as it was my first home we only had to put down 5%. I didn’t use close to 15k for the down payment. Maybe you could find a partner as it might be difficult for you to get a mortgage regardless. If I were you and if you’re a hard worker see if you can pool together maybe 10 pair up with an investor and put everything you have into it. No risk no reward. Some people here might think I’m crazy but realistically you’re 19 what do you have to lose?

Im a real estate investor from Canada 🇨🇦 spending the winter in Wellington, Florida (WPB Area) and would like to meet some real estate investors down here as I’m Interested in getting into the market.