All Forum Posts by: Ellie Perlman

Hi Garrett,

Welcome to BP! I am active in Tampa and Orlando. Don't give up on your backyard yet. The job and population growth in Orlando is phenomenal, and if you keep looking and make the right connections - you will find a good deal. Living there is a huge plus too. It's a solid cash flow AND appreciation market, with significant demand derivers. 

No matter where you choose to go - wishing you best of luck!

Ellie

Anthony, to your question: it really depends. I send my property management company to walk the property (sometimes even before I do, or with me) to come up with an exact budget. Sometimes roofs needed to be replaced, sometimes they are new. Sometimes you want to update the gym/clubhouse or add a dog park. Sometimes they are already updated. So there is no "set" budget for CapEx before I/the PM see the property.

Hi Anthony,

It really depends on your preferences and changes from one investor to another. I, for instance, look for properties that are 1970 vintage and newer, because older properties tend to have higher CapEx. Some will look at properties that are 1980 and newer, and some will buy properties that were built in the 50s.

@ Ray Li -  I agree with @ Steve Berton. Spreading your money across multiple investment is a GREAT way to learn about multifamily investing. You can start with a minimum investment (every syndicator has a different amount, some will set it to as low as $25K and some will start at $100K. Take time to know them, as Steeve recommended, and make sure you invest with someone you are comfortable with.

Good luck!

Hi Damon, welcome to MF investing! It's an exciting investment vehicle and if done correctly, can benefit your for the long run! 

I'm also active in Tampa (and Orlando) and buying large multifamily (100+ units). Would love to share my knowledge with you. Send me a message if you want to chat.

Bets of luck! 

@jeffrey D'Eon - start network with sponsors: go to events (look at BP or meetup.com), conferences, or even meet them here on BP. They are everywhere. And again, passive investment is legal for someone on a work visa. The visa restricts you from making active income. Passive income is fine. 

Hi Jeffery, have you considered joining other investors and be an owner of a multifamily property? As a non-US citizen, you are eligible to receive passive income, and the lead investor takes care of finding the deal and managing the property. It's also a great way to learn about real estate and establish some track record. 

@Michael Blackwood I'd be happy to introduce you to multifamily brokers in Tampa. Feel free to email me.

Larry, I work with a property management company, and they have an online form that we fill out to get an estimate from their insurance guy. It takes 5 days on average, but for the most part we'll do it only before we submit an LOI. For the initial part of the underwriting, you can ask the property management company (for a rough estimation) and compare it to what is provided on the T12.

Good luck!

@Jingjing Ye

I'm an out-of-state investor as well. When I look at markets, I focus on population growth, job growth and rent growth. If you got all three - it's a good start! You can find the information on www.census.gov

Additionally, CBRE and Marcus and Millichap have a great cap rate reports that can give you some insights into those markets. I can't upload them here, but will be more than happy to email them to you if you wish.

Hope that help!