All Forum Posts by: David Zheng

I started investing in Dec. 2015. Since then, I have bought up 6 properties and have a primary house.

I "own" about 1.5 million of property but only have equity in about 30% of that. Don't think of it as Debt. Think of it as leverage and the ability to grow faster. :)

Great job! Keep it up :)

I personally use excel as well. Cheap fast and easy. But always back up your data to multiple places

Congrats!!

When I started investing in Dec 2015 at 24, I told myself I could achieve 1 unit a year and was hoping to have 10 by 35...fast forward 9 months and I'm already at 9 units. Its crazy how much we can learn and do with that knowledge!

Keep up the awesome work and keep us updated on the progress :)

@Andrew E. Was a great answer !! I was looking for numbers (even if just guesses) so many thanks  !

anyone? :(

Hi All!

So I'm looking at whether I want to buy this apartment building or not and so far most of the recently sold units were condos.

I'm wondering what the value comparison is for this 3 unit multifamily is...

Say we have 2 building for sale that are identical. both are 3 story (1 unit on each floor) buildings

Building A is just a multifamily building sold together as an apartment (for rentals)
Building B is comprised of three separately taxed and parceled units.

If we consolidated the value of each "condo" in building B plus the common areas and got a number of $600,000

What can I expect the value of Building A to be? Will it be the same, more, or less?
Also if I may ask you to give me a good idea of what you think it will be. I hate vague answers so please if me your opinion. (like A would be 500,000 or I think A would be 80% of what B is worth)

@Don Konipol hit it right on the head.

I'm 25 years old, started real estate investing this year and am up to 6 rental homes and about to close on a large 3 unit multifamily in a week. This is not an easy business and lenders are extremely picky. I also looked at multimillion dollar apartments, thinking I've read/researched enough to tackle them. Even with "gift funds" the 30 or so banks I called wouldn't even consider me.

start small and work your way up.

Great job and great post! very inspirational :)

@Wayne Brooks Well the problem is the HML requires me to purchase the property under an LLC which is why I'm stuck with that regardless so was trying to get my personal name on it as well.

I would personally rather get a residential loan with lower interest/longer term and "house hack". But I've been expanding like crazy this year and so my DTI looks really bad even though I've about doubled my income so I need a backup in case I cannot get residential.