All Forum Posts by: Brock Mogensen

Try calling the County Assessor offices.  Some will be willing to send you the info for free.

Continue your real estate education and don't be afraid to spend money on more specific education sources. Meanwhile continue to save money. House hacking a duplex is a great way to start your journey in REI.

You could use a hard money lender to close and then refinance. Just make sure you have a bank that is willing to do the refinance first. I always recommend leveraging long term debt instead of using all of your own cash to buy deals. Leverage is the name of the game when it comes to REI.

I am also in the process of hiring my first VA. I am interviewing around 10 applicants this week. I looked for people that have a 100% rating, good English, and experience in finding owner information. I am excited to get some of the mundane tasks off my plate.

2% will be tough to find in this hot market and it should only be used a rough estimate of the cashflow. You will need to look more closely at the Cash on Cash, Cap Rate, and IRR when it comes to larger multifamily.

@Ryan D. I'm located in Wisconsin and don't have any connections in CA, unfortunately.  They most likely have stricter qualifiers in CA compared to WI so that may make my statement untrue.

Reach out to multiple commercial lenders.  There will be one that is willing to do it.  Try the community banks that loan those type of properties.

I'd recommend the 4 unit option. It is illegal to NOT live in the property if you are using an FHA loan. An alternative option is to look for a duplex with 20% down. OR you could continue to save and think bigger..partner up and buy a 32+ unit property,that's where the number really start to make sense.

Depends on your investment strategy.  A class will provide lower cashflow with higher opportunity for appreciation.  C class provides great cashflow with lower opportunity for appreciation.  B class is somewhere in between.  It also depends on the size of properties you are looking for.  We primarily look for B-C class assets.

It is vital to narrow down which type of asset you are looking to invest in.  After determining which type of asset, study it thoroughly.