All Forum Posts by: Andrew Schutsky

Welcome to BP! You've come to the right place for advice and help.  Have you already selected a target market? Are you looking to stay local in TX?  I'd recommend continuing your education here (as well as books, podcasts, meetups) even though you're taking a break from college :)  

I'm located about an hour away from the area (Philly suburbs) and have been tracking that market closely.  To date, I'm still focusing on out of state areas with the highest potential (Southeast, FL/GA) as they still seem to have better market data - jobs, employment, population, etc. 

Weekly updates - highlights:

-Worked on refining the capex plan as well as completed an investor summary for our potential acquisition 

-Recorded 2 podcast episodes, thanks again to my co-host @Dakota Brown for the help in prep, editing, and brainstorming! 

-Cleaned up our LLC branding deck

-Wrote a new blog article on our website 

-Set up podcast facebook page and started initial marketing 

-Nearly finished the "Book About Real Estate" by Matt Jones (great read, check it out if you haven't already) 

-Final prep for my field trip to Tampa next week 

-Set up more upcoming investor calls 

@Vasundhara Ranjani what state(s) are you invested in? Seems some states are much more landlord friendly than others with eviction/late payments. 

Are you looking to invest on your own or as a partnership? If you're syndicating, keep in mind each individual acquisition will likely have it's own LLC in the state where it's acquired anyway.

@Joshua Pulido glad to see you starting so early! One of my biggest regrets is not getting more serious about RE investing until later on in my early 30s.  I'm a huge advocate of three things to gain serious momentum in this space: 1) Education 2) Networking and 3) Taking consistent action.   Commit to consistency (several hours in each space in each area EVERY week) and you'll make huge strides.

Great list! Also would like to add referrals and references are gold! We recently found our potential PM for an upcoming deal by visiting one of the competing properties that was turned around.  

STRs are quite tough to project accurately, especially in the commercial space - we have quite a bit of experience in this area and have since moved away from MF STRs because financing is quite hard to get due to the high fluctuations in income.  You can average out the past years performance as an indicator, but it's not guaranteed to perform that way - COVID was a clear indicator last year of this!  

Hi Jose - you've come to the right place for help! In addition to what the others recommended, I'd check out Facebook for local Multi-family groups as they are typically a huge help getting you connected with people and local deals, especially smaller MF where units may be listed for sale or for rent. 

Look for any emerging market that is thriving in terms of population growth, income growth, job growth, rent growth, and with job diversification across employers/industries.  There have been several articles/blogs here pertaining to 2021 areas to invest in, check those out as well.

As far as cap rate - to me this is not absolutely critical in the buy or not buy decision but rather one input/indicator as part of the process simply expressing a sentiment of demand for a given sub market.  As you get to know your market(s) well, you will quickly learn what a certain class has been selling for in recent times.