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All Forum Posts by: Chris Salerno

Chris Salerno has started 31 posts and replied 282 times.

Post: 50k first investment

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Saimon Bilalov:

Hello iam from israel

I have have 50k i saved and iam looking for my first investment in us

If you have some advice tips locations for me i would love to hear

Iif anyone here from israel i would to speak with him on whatsapp

Ty very much

 Siamon, Congratulations on saving up to 50k. I would look to invest with someone into syndication. I think this would be the best route to see a great return on your money. Looking forward to your success. 

Post: Trade up to bigger multi family?

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
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, Congratulations on having 39 units. If I were you I would sell the single-family and place it into large Multi-Family. The number is a lot better when it comes to Multi-Family. Depending on the deal your return will be a lot larger than investing in single-family.  

Good luck and looking forward to your success.

Post: Looking for reliable alternatives to Cardone Capital?

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Grant Gibson:

I would like to invest in something like Cardone Capital to diversify my investments and gain some passive income because I don't have the time to search for individual deals.  I've heard others say that Realcrowd is good, but I am so new at this, I don't know how to select a good deal.  Cardone just seems safer.  Any thoughts or suggestions on how to learn more about this type of investing?

 Grant, I hope all is well. I am a syndicator and focus heavily on the Carolina market.

If I were in your shoes I would pick a market I like, feel comfortable, and know very well. Then I would find out who is a syndicator in that area and connect with them to invest alongside them. Let me know if you have any questions. Good luck and looking forward to your success in the future. 

Post: Syndication or General Partnering?

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Adanna Davis:

While I look at large multifamily to invest, I wonder if it is worth starting a fund and syndicate the property with passive investors or find partners who will invest in the property but will be very active in the process. Have you done both and which is less of a headache? 

P.S. I love having control over the business aspect of my rentals!

Adanna

 I would figure out what your goals are first. If its to grow a small portfolio not quickly then do the GP route. If its to grow a large portfolio as soon as possible then I would syndicate or create a fund. 

Post: Multifamily Passive Investing

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Tj Hines:

@Salome D.

Ashcroft Capital w/@Joe Fairless

@Chris Salerno with QC capital

Vinney Chopra with Moneil IG

There are so many to name I can go on and on. Good luck with your search

Thank you so much! 

Post: I have 45,000 What to do with that amount? Buy cash or what?

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Ramon Paredes:

Here I go, now I have $45,000 available to buy a single house in the Pennsylvania area where I live. The problem is just only 45 just I can buy a single house. And for 55k to 60K I can buy a duplex in my area, each one I can rent it for $800 to $900 each door, for $1,600 to $1,800 monthly and they pay for all utilities. Some advice of exactly what to do for made a better investment decision.They are to many people coming to the area, because many warehouses paying good rate, and now is the right time to invest for rent or flip on the future. Thank for all the support.   

 Ramon, Could you invest in large multi-family syndication? If I were you, I would invest in large multi-family syndication. You will receive great tax benefits and a great return depending on who you invest alongside. 

If you want to invest in a single-family or duplex. I would put 20% down on a duplex and use the rest of the runds to fix it up. After 6 months you can refi and get your money out and doing it again. 

Good luck and looking forward to your success.

Post: Recent Closing of 172 units

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $17,750,000

172-unit, Hudson Orchard Park in the Greenville, SC Market

Post: How to get funding as a young investor.

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Edwin Byler:

My name is Edwin and I am a 20yo investor out of Mocksville NC. I have two single family properties so far, both of which I cashed off. I want to purchase a small multifamily property and because I started building credit late, I can't get a loan. I have check with multiple banks and mu job history, income, and credit score is great, I just don't have much credit history. What are the best ways you guys have found for raising money apart from your normal bank loan? Thank you all

 Congratulations on the purchase of two homes. I live in Charlotte NC. In my opinion. I would work very hard to get credit up. You need great credit to get lending even with large multi-family real estate. Credit is everything. Once you get the credit up. Start networking with high net worth people. 

Post: Scam or Legit: Sales pitch for 3-day multi family bootcamp?

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Ben Feder:

I went to a multi family investor event today in my local area, and it turned out to basically be a sales pitch for a 3-day bootcamp that they were going to hold in my city toward the end of the month. They were charging $1,495 for the bootcamp, offering products such as software to analyze deals and service of taking us by the hand and guiding us through the investment process from start to finish, with the added bonus of being connected to a network of professionals for life, and people who would provide us money without checking credit-score and only looking at the quality of the deal we find (sounds like hard money lenders to me basically). I am not sure if this is worth it; I feel the content on BiggerPockets, the tools, and the social network here more than pays for what they were offering in the bootcamp. Feelings? Should I have paid for this bootcamp? Does BP offer enough or is there always more to learn? Scam or legit?

Hmm, I haven't heard of a Multi-Family event like that.  Let me know if you want some great recommendations. I go to a lot of Multi-Family events and can help you out. Feel free to message me. Looking forward to your success!

Post: Inherited 6million dollars, what would you do?

Chris SalernoPosted
  • Rental Property Investor
  • Charlotte NC
  • Posts 306
  • Votes 183
Originally posted by @Tanner Enderle:

I have some experience flipping as well as LTR SFH, but have always wanted to move into bigger commercial multifamily...

What would you do with 6million dollars?

Would you buy smaller all cash or use that money as a Dp for a bigger whatever??

I would look to invest it passively in a multi-family deal. Once I get the knowledge on how the deal and property are being operated then I would start to purchase more property. You could purchase a $25mm property with a 20% LTV. Multi-Family is the best route to go in my opinion.