All Forum Posts by: Alex Ramirez

Hi BP family. I recently closed on a 9 unit and also a 12 unit. I’m currently debating whether I am going to outsource property management or self manage. I am leaning towards self managing. With that said, I’d like to get some ideas from experienced mtf investors that self manage their units in what software and systems they recommend using. Your help is very much appreciated

@Myesha Stephens I completely agree with Nick. Does it make financial sense to keep it? ie. If you are going to live in one side and rent the other one. How much will you be collecting in rent? Will this be enough to cover your mortgage?If not, how much money will you be out of pocket per month?  Is this cheaper than living elsewhere? You just have to analyze your situation and see whether or not this move will add value to you

Is anyone else struggling with the time the city of Houston is taking to process permits? 

I am interested on this as well. Looking to expand my business to self storage 

Apartment Syndication Made easy by Vinney Chopra was another one I loved besides the ones you already mentioned. It is very well written and so easy to understand. Good Luck! 

@Perry Wilson is this for you to see a property? I've actually used this technique before when a was wholesaling my first commercial deal. I had so many people interested about the deal and every single one of them wanted to see the property. This quickly became overwhelming for me and the seller, especially because most people were not ready to buy but still wanted to see the property. With that said, we had to start asking for proof of funds in order to see the property. If you already work with a bank for your deals, this should not be hard to get from them. 

Some other ideas will be to get a partner or two. Maybe the partner/s can bring the finances, and you can operate the property or perhaps split the downpayment. another good idea will be to raise the money offering maybe (6-10% Interest only). Or maybe if the property qualifies for hard money you can get 70% LTV. I am doing a 12 unit right now with hard money and they just asked for a 2.5 Origination fee plus all the closing cost, when I refi I will pay the loan and I will have enough equity for long term financing (25% down).

@Jesus Roman would you mind sending the information to me as well? Will really appreciate it

Start with your friends and family, go to every single networking event in your town, try to find a partner that’s already experienced in raising money 

@Joseph Humphreys start by buying a list on listsource and sending a direct mail marketing campaign to all the leads. Get familiar with the underwriting and once you get a deal, bring it to a partner with experience. You should also be on every networking event happening in your home town. Maybe you can offer to cold call or door knock for an experienced investor. You need to find a way to add value to an experienced investor. Read books and listen to mtf podcast. It’s all about taking action brother. IM me if you have any questions, happy to help