All Forum Posts by: Matt Crusinberry

@Chandra Minter, There's a couple of different strategies that you could use for this portfolio, but it really comes down to what you are able to negotiate . You could try to buy as many as you can get financing for, to include the partnership you set up (w/your investors). You could turn it over to a syndicator and have them show you the ropes. You could try to start wholesaling these properties if they're at a great discount. You could try to talk the seller into a master lease. Obviously before you do any of that you would need to see the rent roll and the T-12, and do a quick analysis of the numbers. I'm sure there are other options out there as well, but I wish you the best of luck!

@William Huston, I believe you are the only one that can answer this question that relates to your goals/plans. What I would do is going to be lined up with my goals and aspirations. I suggest you return to your 1, 5, and 10 year goals; unless you don't possess them, then do that first. And then figure out what it's going to take to get there, and this should help you answer your own question. Good luck!

@Jason Matthews, The ones where everyone wins, or that leaves enough meat on the bone for your end buyer, along with minimum complications. Good luck!

@Jason Matthews, Find the best deals.

@Eli Rollins, You're welcome, and I do have a few that I really enjoyed. 

- The ABC's of Real Estate Investing 

- Multi-family Millions

- Crushing It (Brian Murray)

- The Advanced Guide to Real Estate Investing (2nd Book to ABC's... not as good though)

- Buying and Selling Apartment Buildings

- Financial Freedom with Real Estate Investing (not as good as the others, but Mr. Blank has a great website, and puts out good video content)

These will get you started, and send you in the right direction. I hope this helps.

@Eli Rollins, There are other considerations that you will need to take into account. I would suggest you read and learn as much as you can on the subject. In fact, just type in BP's search bar "apartment/multi-family books," or in Google. After you have read several books/blogs/forums and watched several videos on the topic, you'll be able to answer the majority of your own questions. Good luck!

@Sam M., I don't believe this is possible, especially if you want to resell the home. The only way I see you doing this if you lock in the contract and than find a buyer who is willing to buy with seller financing through the original owner. You would be able to sell off your position to the new buyer (plus your added value), which you may find to be very difficult; essentially acting as a wholesaler, but with tighter parameters (i.e. a buyer who's willing to do seller financing within the owners boundaries). You could recommend a 1031, and inform the current sellers of other options that are available to them as well. 

I don't know what you had in mind with the property, whether to flip or maybe buy and hold, but you may want to see how long the seller is wanting to hold the property. If you can make it work, good, but if not... I wish you the best of luck!

@Timz Valenzuela, You are moving in the right direction, and congrats on your investment! First off, you can refi into an LLC, but because it's new, the bank will look at you the same way as if you weren't using the LLC. That is, if you're able to meet the refi guidelines that the lender would require to refinance, your LLC will as well. This shouldn't be a problem for you.

In regards to your second question, I would not spend that kind of money for an attorney to create an LLC. That appears to be way over priced. I have created my own, had an attorney create several, and my CPA created some for me as well. I paid no where close to what they are asking. I would search out another attorney, or contact your CPA and have them give you prices. I hope this helps, and good luck!

@Tony Wood, I don't believe you can view the MLS without a realtor or a license, however I would suggest realtor.com as an alternate. They are probably one of the fastest websites to have a property on it from the MLS's date of listing. Zillow obviously is a great website, but I find them to be 2-3 days behind the actual listing date, however they're getting better. I personally would recommend a realtor, as they usually have their finger on the pulse of the market. And if you find a good one, they'll have pocket listings that no one will see until it's too late. They'll also keep you in the loop as soon as your target property hits the market. Good luck as you begin your journey!

@Dustin Ruff, My recommendation would be to move toward your goal. While this is going to be difficult, as you will have to look for off market deals and use creative financing (i.e. subject to, seller financing, etc.). I think this is very feasible, and hopefully your handy with a hammer. You'll have to get out there and just get after it as you continue to save. Run your numbers on properties, and than rerun your numbers again. Learn as much as possible in the process and begin to execute the lesson's learned. Let me know if you have questions, as I'm here to help. Good luck!