All Forum Posts by: Chris Salerno

If you are an accredited investor and your goal is to quit the W-2 job in 2 years would you pursue (and possibly invest in) learning how to sponsor your own multifamily syndication or be a passive investor? Why? Which gives you the greatest cash flow?

Molly, I hope all is well. I would look to passively invest in real estate until you understand the ropes. I think it's important to understand how to manage a property, operate a property, and manage a property manager. Once you have gained the knowledge by passively investing and understanding the operation then I would look to start syndicating your own deals. I hope this helps and looking forward to your success!

1 Vote

Originally posted by @Account Closed:

Hello everyone. I’ve been following Michael Blanks content heavily over the past 2 months and what really stood out to me is the cost segregation & bonus depreciation. If someone could please explain these terms and give me a scenario on how that is beneficial for investor. My understanding is that essentially investors can write passive income they receive from funds/syndications off as a loss so that they don’t have to pay any taxes on it. Please correct me if I’m wrong

I highly recommend using Yohan wise. He is wonderful we use him on our properties!

3 Votes

Originally posted by @Tab Teehee:

Reached a major milestone after nearly a year and a half....converted my construction loan to permanent financing!!! On 5/31/18 we closed on a 20 unit property that was 100% vacant and in need of lots of love! We added washer/dryer connections to all units and ductless min split heat pumps. Full stainless kitchen appliances including above range microwave. Textured all walls, painted all brown woodwork, new flooring, all new plumbing fixtures and toilets, bathtubs as needed, water heaters as needed....we did a lot!!! For a first time project i'd say we learned a lot and although the project took twice as long to complete as we planned, it's still a huge success! We are currently 85% occupied and 95% leased and expect to be 100% before end of year! This form definitely helped me get through some rough patches either by reading through others posts or posting my own questions. Now I'm asking myself what's next, lol! I'm hooked

Congratulation!! Keep the great work up!

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Originally posted by @Steve Corder:

I currently have 39 units about half multi family have a single family. I have debated whether to consider “trading up” to larger multi family properties. Good idea or bad? How would you time the sale of multiple other units to purchase a larger unit if you think this is a good idea. Thanks

Steve, Congratulation on growing a 39 unit portfolio. You have a couple of options in my opinion.

You can refi the 39 units and with the refi ( depending on what the refi amount is) you can then deploy it in a larger property.

You can sell the 39 unit and 1031 the funds into a larger property.

I think it would be best to start investing in larger properties. Numbers make sense, property management can be a lot easier compared to 39 units. When you resell the property you could get larger profits.

I am looking forward to your success. I am located in Charlotte so now too far from you.

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Originally posted by @Pankaj Sharma:

Greetings

I’m new here in bigger pockets but have watched the podcasts for a long time. I’ve been in apartments business for 2 decades. We also manage our own portfolio here in PA. I’m looking to meet and network other investors here.

I hope all is well. I believe we connected on Instagram or LinkedIn. Biggerpockets is great for networking. I would also recommend facebook groups on facebook. People are very active there.

0 Votes

Originally posted by @Adrian Bonilla:

I was just wondering if there were any Multi-Family or apartment building investors here that are investing in or from New York City? I want to start investing and looking to pick some minds or possibly find a mentor near me.... Thanx in advance

@Pancham G. I would agree with Danny.

Pancham, Is a great person! he can add a lot of value to you.

0 Votes

Originally posted by @Justin Hayden:

Hi-

My wife and I are looking to buy our first property. I’m personally leaning towards a multi family home because I think it’s a great way to get started in real-estate while also having tenants pay for our mortgage. I want to start off with a multi-family 4 unit property. Should I lean towards a multi -family, or single family home as my wife’s and I’s first real-estate investment?

Thanks,

Justin

Justin, I hope all is well. I came from a single-family background. I would personally say focus heavily on Multi-Family. Numbers make sense and you will be able to leverage a lot easier than single-family. I would highly recommend focusing on Multi-family. You also may have a better chance to seller fiance deals when you have that amount of units.

Good luck! looking forward to your success.

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Originally posted by @Jason Rosenblum:

Is anyone here familiar with the multi family market in Columbia SC. We have been looking at deals there and went to visit, however i am having a hard time wrapping my head around why rents have stayed pretty low there over the last couple years, if any MF investors who have experience in this market can share their experience, would be appreciated!

I live in Charlotte NC about an hour and a half north of Columbia. I do not have any interest in the Columbia market. I do not see any growth there and can answer any questions. I know some operators that live there that won't invest in that city. I hope this helps.

1 Vote

Originally posted by @Ariel K.:

Just curious - If you had 250K, would you buy real estate on your own or invest in a multifamily syndicated deal and why? I realize there are many variables, but let's assume the IRRs are comparable. The building(s) you can buy is in the midwest with an assumed appreciation rate of 3% annually and you are putting down 20-25% depending on the type of building(s). The syndication fund is assumed to be a 10-year hold with the return of investment after year 5 through a refinance and subsequent earnings rates would be infinite.

What are your goals? Do do you want to manage your own property or manage a property manager?

I am a syndicator. I have clients that do both but prefer investing in syndication. They are a lot of benefits. Not all syndications are a 10-year hold and a 5-year refi. I would make sure you feel comfortable with the syndicator before investing. In my opinion, I would invest in syndication. Let me know if you have any questions. Good luck and looking forward to your success.

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Originally posted by @Vee L.:

Hi all,

I know people that went to Dave Lindahl's trainings and spoke highly of the program. I'm looking to pay $1495 for his 3 day bootcamp. However, Lindahl himself is no longer teaching these classes. Has anyone been to the new bootcamps that are taught by others. What do you think? Was it worth it? Thanks for sharing.

I am in a private mentor program. I have been to a lot of conferences this past year. I can recommend some conferences based on your needs.

0 Votes

All Forum Posts by: Chris Salerno

Chris Salerno has started 31 posts and replied 282 times.

Post: Passive investor or Active Syndicator?

Post: Cost Segregation + Bonus Depreciation

Post: lessons learned from my first 20 unit rehab

Post: Trade up to bigger multi family?

Post: Looking to network in multifamily

Post: New York City Multi-family investors

Post: Buying first property.. single family or multi-family?

Post: Columbia South Carolina Market

Post: Buy or Invest in Syndications?

Post: RE Mentor - Multifamily bootcamp