All Forum Posts by: Dennis Tierney

My experience agrees with Marc's. I have an apartment next to a UP track that's used daily and have no problem keeping it rented. There is no crossing nearby and the trains can't go more than 15 MPH at that location so that makes a difference on noise.

As a multifamily owner/investor I recommend you find several local commercial brokers and a local professional managemnt co. and go with an apartment. That's what I did to start out and have not regretted it. You could look for an apartment in the $1.2 mil. range. I wouldn't go ovet 75% LTV. Good luck.

As a multifamily owner I use 3rd party professional management companies. They charge around 5% of gross for an apartment. For a SFR it runs higher, depending on the community. You'd do well to talk to other property owners in your community to get an idea of the local rates.

The only one I've used so far has been talking to high net worth individuals I already know about the need to invest outside of the stock market and relating my experiences as a multifamily owner/investor. I have completed one syndicated purchase so far and have already experienced the need to have more lined up than you think you need as people drop out for various reasons and you don't want to come up short when it comes time for them to write a check.

I recently did 2 non-recourse loans, one a refi at 60& LTV and one a new purchase at 70& LTV. Both were done through a mortgage broker who found an insurance co. willing to do the deals. Both were non-reourse becuase they invloved SDIRA in the ownership.

Brad:
For a resource to learn more you can go the web site for the co. that set up my SDIRA: Guidantfinancial.com

This could work well as a syndication if you want to think larger properties. As the syndicator you put in the sweat equity and experience to do the deal and run the property and set it up as an LLC in which you are managing member. You need an experienced real estate attorney to draw up the LLC but the investors pay for the legal costs so don't skimp on it.

With that dollar amount I doubt you could find a multifamily on either coast. I live in and would suggest the midwest, but, you'll not get the appreciation you see on the coasts. The midwest, however, does have strong jobs with the lowest unemployment and has good management companies available. Good luck.

As a multifamily owner/investor I am biased in that direction for the amounts over $25,000. You can find a syndicate with which to invest and be completely passive or for the larger amounts find a multifamily and hire a 3rd party professional management company. I have done both with good results. For the lower amounts you could consider tax liens with the proper education to avoid getting burned.

12% non-recourse is way out of line. I recently financed 2 non-recourse loans at 5.5% from an insurance co. through a mortgage broker. You need to look around for a good mortgage broker.