All Forum Posts by: Ellie Perlman

Usually, when it comes to a Class B property in DFW, we use $250 per unit per year for initial underwriting (100+ units).

@ Mark S. - why not start your own mastermind group? This way you can screen for people who are like-minded. 

You can search for deals on broker's websites. 

@Michael Neal - there are multiple ways to do that.

- regularly speak with you property manager to understand what's happening in the market

- visit markets and drive through neighborhoods

- regularly read market reports by YardiMatrix, CBRE, etc.

This is a decent size deal to start with. As long as you can raise/have enough money for down payment + CapEx, you should be fine.

Hi Anna, welcome to BP! The first thing I'd advise you to do is to GET REAL ESTATE EDUCATION. Read books, listen to podcasts, read blogs, be active here or even get a mentor who will accelerate your progress. Scary? Yes it is, when you start. Picking a mentor can help you ease the fear and prevent you from making costly mistakes. 

@Mike Gehard - you are absolutely right to look into the sponsor and vet them. Trust is also something you should look into - the sponsor is going to be your business partner, so make sure you like and trust them. Usually passive investors look into performance, AUM and general feeling if they like the sponsor or not, which they get by reading about the sponsor (on their website) or listen to their podcast, and meet with them if possible. 

@Aaron Goode - welcome to BP and the real estate world! I'd be happy to connect you to some real estate investors who are pilots as well. DM me. Best of luck in your new venture! 

@Ryland Boswell - many first time investors partnered with someone who was qualified for a loan and gave them equity in return for signing it (sound simple, but hard to do). 

@Joe Robert - the price was for national