All Forum Posts by: Bjorik Mutize

@Jide Alufa scale quicker with multi-family!

You’re financially protected more with more units/doors.

Of course more income.

Cons of larger multi family are barriers of entry costs to acquire, operate, and experience. However, the more you learn the more you will learn ways to solve the above.

Low price compared to a city 4-unit and produces pro forma income, i'm just fearful you may have trouble managing this place long-term. 

I myself am not currently in Texas, however Kaplan University is a great nationwide online school for license education. I'm confident it should be available in TX!

Broker MLS listings,

Find your comps/supplementary data from sites like loopnet.

@Abner Gomez idk. First housing purchase yes...but if you didn’t buy it with an intention to invest and produce income for you, no. You are just utilizing it as a current asset you have.

Love to see how this is argued!

Just out of curiosity, what are contractors you have spoken to say about estimations for this deal?

Thank you for the information! @Tim Swierczek

Awesome, congrats on finding a deal i know you said you have been looking for a while.

Fair numbers for your market assuming you can hit your premiums. Be careful you are not undershooting your line items for your expenses

How did you find this again, broker pocket listing?

@Steve Emling 3 bedroom 2 bath’s do really well in my market.

@Hyunwoo Shin

I don’t think @Nathan G. Is saying you are doing anything wrong, however going forward to make sure you are positioned strong financially before purchasing.

1)Adequate reserves to make sure you can operate your property without putting yourself in a financial bind. Like you said you have little pocket money after the 20% down payment

2)Making sure your next investment has strong cash flow from the beginning

As said above try a House Hack or get a partner!