All Forum Posts by: Andrew Nguyen

For the past few months, I have been learning about Multifamily CRE and am interested in entering the space in the next year or so.

There are a few hurdles that seem difficult for me to clear, they are as follows: 

A) The NW Requirement - lenders are looking for a NW greater than or equal to the loan amount. From what I've read, it seems larger, national institutions are more likely to uphold this guideline more rigidly while local credit unions would be more flexible. Could ya'll share your experience with credit union's level of flexibility with this requirement? 

B) Experience - For the last three years, I have owned and managed a triplex in Cleveland's westside. During that time, I have completely renovated the property and have added ~$100,000 in forced appreciation, while the property has naturally appreciated ~$75,000 (based on recent, nearby sales). Is this enough experience for the average Multifamily CRE lender? Looking to do a loan size of $300,000-$600,000

C) I am interested in purchasing a 5-15 unit building. What kind of lending entity & and lending packages would ya'll recommend based on my finances below?

Assets:

Cash: $6,000

401k: $30,000

Stock: $50,000

Car: $32,000 (2024 purchase w/ 6k miles total)

Home Value: ~$425,000

Liabilities
Loan Amount: $250,000

I appreciate any and all input, thank you!

Erickson thank you for your speedy response. 

I would say that acquisitions are of the most interest to me. I want to maximize my time by focusing on developing the necessary skills to scale as fast as possible (ex. learning, bringing in income, better understanding the market I'm in, etc.)

I am interested primarily in residential real estate (long-term hold multifamilies) and was wondering if you knew of any top firms specializing in this area of real estate?

Hello everyone,

For the past year or so I have been listening to podcasts/reading books and helping my brother with his apartment complex. I have built up my stock portfolio enough to cover all costs for purchasing my first 4 unit multifamily and will do so once I graduate from school. 

Currently, I am in my junior year and will be graduating next fall. Is there any single real estate internship/job that will best prepare me for investing in real estate. I am pursuing real estate investing full time and would like to find a position that will help me build the skills needed to succeed in the business. Please feel free to ask any clarifying questions you may have and I appreciate any suggestions!