All Forum Posts by: Felipe Soto

Hey everyone—saw some of the back-and-forth here and wanted to share my honest take, since I recently went through Michael Blank’s Mentoring program and just closed my first deal.

Quick background: I come from the business world—built and sold a couple property & casualty insurance agencies. I started my real estate journey in 2021, and before joining Michael’s program, I actually spent a year in Grant Cardone’s $20K/year program. That gave me some foundation, but I still hadn’t closed a deal.

I joined his program in 2024 and just closed an 18-unit in Tampa in March. We bought it for $2.5M, and I’m repositioning it as a fully Section 8 property. With the projected rent lift and improvements, I expect it’ll appraise in the $4.1M–$4.2M range when stabilized—so there’s a real shot at creating $1.5M+ in value.

It wasn’t smooth sailing, and I don't think I would have gotten this deal done without the mentoring and structure and support.
Having said that, I do agree with some of the posts here: if you’re just looking to buy a duplex or a small rental, mentoring might be overkill. But if you're trying to raise money, build a team, and take down bigger deals, I think it’s a game-changer. It was for me.

Happy to answer any questions.

—Felipe S.

That's exactly my thoughts. I rather stay away unless, there is an opportunity that makes sense and there is controlling opportunities with the HOA. Thanks.

Hi ALL,

I feel pretty sufficient analyzing the purchase of an apartment from going through the financials and physical aspects of due diligence. However, I’ve never bought a condominium apartment that’s being sold in pieces (IE. 40 out of 220 units). 

It is my understanding that the HOA must be carefully analyzed. This has help me back and I feel like I may be missing opportunities by not getting myself well versed in this area.

Where could I get myself educated in this area? I would like to overcome this obstacle. 

Again, if we're taking about a non condo multifamily purchase, I have no issues. The HOA analysis is what has me a bit scared from moving forward.

Thanks all. 

Hi All,

My name is Felipe. I welcome anyone interested in networking with me in anything related to commercial multifamily investing. I’m an employer in the insurance space. I’m interested in taking what I’ve made into properties that can provide me with passive income and capital appreciation. I’m not new by all means. I’ve been in the middle of a purchase already fully funded. Just looking to land a deal this year. Aside from that, I’m a husband, father of two girls and another one on the way at the moment of writing this. I have strong reasons for getting involved here and hoping to build strong relationships here.

Hi ALL, I know this post is from a year ago. I’m considering joining based on the feedback. May I ask what it costs to join?

Hello everyone,

I heard that when estimating costs for rehabbing a Multi-Family Purchase, some
investors will estimate rehab costs as being somewhere from $10 to $25 per square foot. A 1200 sf unit would range from about $12,000 to $30,000 under this method. If you need major items replaced you may need to estimate them separately.

Obviously, bringing a GC would be best, but what do you think about this method? And/Or as an experienced MF investor, what do you recommend when estimating a value add deal without the presence of a GC?

Thank you,

Felipe