All Forum Posts by: Andrew Hogan

check out @Jason Harris. He and his wife are on their A-game.

IMS is a big one. Not cheap but comes with great reporting and key metric systems for investors.
Appfolio is a good one for property management.

Hi Eric, there are a ton of different podcasts and books that go deep into multifamily investing. You also can keep researching in the forums through thousands of posts. I wouldn't plan on owning deals without having saved up a chunk of cash (say 50-100k). But you could become a valuable resource to other investors/syndicators if you develop skills such as raising capital or underwriting and finding deals. A good way to get started is to househack  a 2-4 unit, then flip out of it in a year or two.

All the best!

Hi Terri, sounds like a solid strategy. Most folks only look at their overall ROI and don't take into account the ROE (equity) that goes down over time as you build up more equity in the asset. I'd recommend looking at multifamily syndications that can offer you diversity across hundreds of units, market geography, asset class AND can offer large paper losses with cost segregation. All the best!

Great questions @Jordan Santiago. Speaking for multifamily here: bigger is definitely better. There is inherently so much more economies of scale, tax shelter, and better management control (onsite).

You can own 100% of a small pie and have all the control, or a smaller percentage of a larger pie with a team you either build or partner with. Our broker relationships over the years have sourced some of the best off-market deal flow. 

(We almost always get out-bid when deals go to market by other sponsors willing to pay more for a lower return/more leverage). Our last 3 deals actually would have been snatched up on the market for over $1M what we paid so managing those relationships is key.

Can't speak too much to self-storage though I believe there is a higher price sensitivity with newer inventory so you really need to know your market and make sure that no one can come in and build something nicer a few miles away.

All the best!

Hey Sam, everything should flow to the spouse in the event of death unless one lives in a state that does not have "community property" laws. However, we still see a lot of investors creating a "joint" investments with their spouses for administrative ease in property settlements as a result of divorce, death, etc.

Hi Akiva, here are some useful websites you can use when researching:

census.gov

http://www.marcusmillichap.com

Bea.gov (Bureau of Economic Analysis)

List Source

Tax database

http://www.best-cities.org/

Reconomy

Loopnet

Costar

City-data.com

Rentonemer.com

Hi @Mike Stock. Rod Khleif always puts on great courses for apartment investing. You just missed his last one over the weekend (virtually of course). He also has put together a great mastermind with some of the top syndicators in the space. Good luck!

Dave, keep in mind your Return on Equity as well. Typically CoC numbers will look great with a terrible return on equity.

Like Natalie and Basit pointed out, unless you qualify as a full-time real estate professional, you can't offset ordinary income with passive losses. 

However, once you're in the game for a while, you'll begin to see better tax shelter. 
For example, whenever we exit an asset, the investors that are in for the long haul will reinvest their proceeds into the next acquisition whose paper losses typically offset the former gains and thus they are able to grow their wealth buckets at a faster rate - tax efficiently. (sort of like a 1031 but better)

Hope that helps