All Forum Posts by: Hunter Reed

Logan, did you know if you doubled a $0.01 for 30 days that you would have a little over 5 million? Im currently reading multi-family millionaire by Brandon Turner, you should defiantly read the book. Brandon hits on some key points that are beneficial in investing in the multi-family space. The Stack theory explains the process of becoming a millionaire in 5 years through ONLY investing in multi-family. Starting with a 2 plex, then a 4 plex, then a 8 plex, 16 unit, 32 unit, and a 64 unit. Talk about some serious cash flow. 

Going back to not finding any multi family deals in your area. Try locating all the multi-family properties in your market through google maps. Call every owner, tell them your story, build a relationship, and try and structure a deal with them (seller finance, subject 2 etc). Hope this helps. Good luck on your investing journey!

Whatever insurance company you settle on make sure you agree on a high deductible so that you can receive a lower premium.   

Jared, sounds like you have stumbled across a possible gold mine. The first view point I would asses is what are the local comps going for in the surrounding area? If other properties in the same area have been sold for $850k - $900k then this a great opportunity to make some serious cash and even pay off the 10 year ballon agreement structure. I would try and negotiate a sub 2 deal and take over the mortgage. You could even structure a 5 year or less ballon. The available Casita can easily be turned into a ADU where you can receive more income from the property. Look to rehab and preform a cash out refi. This would pay off the ballon and allow you to settle into a conventional loan with a better mortgage payment. I would ask the seller "Hey why don't I just take over the mortgage payments and pay you off in 3 years" This is what we call a subject 2 deal. With a subject 2 deal you can literally close in less then 3 days. You do not need a title and escrow company although I would advice using a lawyer. Your closing costs would include the agents commission and the price for a lawyer. All you have to do is go down to the county clerks office and ask them to transfer the deed of the property in your name. I recently just listened to a podcast over this topic and highly advise you to check it out. BIGGER POCKETS PODCAST EPISODE #757 Good luck with this deal!

Depends on cash flow. Which property is cash flowing the most. Sounds like the 90k down property is cash flowing more. Which property has less maintenance issues? Do the properties sit in a market of positive population and job growth areas?

Malik, I have found it useful to contact a handful of agents in the desired area you plan investing in. Ask questions let them know what you are looking for and after you have gone interviewed the agents you should have a solid understanding which agent best fits your criteria.

Justin, what are the qualifications for setting up a data center? Could you set up a data center in any location. I have land in an area that does not have much infrastructure. Could I possibly set a data center in a location of such vastness? How would you profit from a data center? I would love to learn what you know. Thanks, for sharing this information!  

Nathan, more than likely that money has vanished. Tough luck!

 Thank you Jon for your insight! Ironically enough after I sympathized with Thomas Corso, I was reading multi-family millionaire by Brandon Turner, he hit on a key point about appreciation. You can not rely on appreciation if you are barely cash flowing a property. Focus more on stronger cash flow and less upon appreciation. Jon your interpretation is absolutely correct. You're right, Im wrong, and I apologize for questioning your intelligence. Have a great day!

Borrowing from a different asset class is always risky. You can borrow up to 50k from your QRP. I would borrow from the QRP and then pay it back through the cash out refi. Good luck! 

Have you only invested in multi-family prior to this 48 unit deal? How many commercial loans have you dealt with in the past? I hope to be in your shoes in 5 years. Thanks for sharing!