All Forum Posts by: John Casmon

Thanks for the tag @Jonathan Klemm.

@Chaithra Kumar, I grew up in Cleveland and my brother lives in that area. However, I don't know many people doing new construction there, but maybe @James Wise or @Michael Ealy know someone?

@Jim Glover most people look to multifamily because they are looking to solve a pain point. If SFR is going great for you, I say stick with it. Most people like the scalability of multifamily, the different financing options, tax benefits, and the ability to pool resources together.

Others like to invest passively in multifamily and focus on their own SFR portfolio so they get the best of both worlds. 

Hey @Danh N., there will definitely be opportunities. Unlike retail and hospitality, multifamily was virtually unscathed at least thus far due to COVID. The fundamentals indicate that this may be the case through this pandemic, though certainly there will be deals from burnt-out owners. 

Before jumping into a multifamily deal, you should speak to others who are more active and knowledgable in the space. Numbers are only part of the equation. 

I can understand the challenge the language barrier presents, especially when talking to brokers who want to know you are a credible buyer. Tagging  @Delphine Nguyen as she may have some thoughts to help you. 

 This is exactly what I was going to post. Traveling nurse ends up dead and that's not the focus on this post? 

To be more helpful, set up clear policies on renewals and rent rates as mentioned earlier. But please tell us more about the nurse that died.

For a large property, you may want to consider Guardian. Since this is for smaller properties, you can search for local vendors that specialize in this as well. Another option is to use a flat fee for utilities if it's common in the market.  

Thanks for sharing, @Mike Morawski

These are great markets, but like @Todd Dexheimer said, it makes it hard to find "deals" when everyone is going off of the same market criteria. These lists rarely factor in VALUE so while they have great fundamentals (population growth, job growth, etc), when you add in value or the ability to FIND a good deal, the list might change. Given recent events, I would lean more on markets driven by "essential businesses" and have low cost of living metrics.   

Looking forward to hosting this and putting together a list of questions that I'm seeing most frequently. It's a free webinar and we will record it, so register even if you have a previous commitment. 

The outlook on multifamily is questionable amidst the COVID-19 outbreak. To understand how investors should be navigating today's climate and tomorrow's opportunities, we are speaking with three active multifamily professionals for a special webinar.

Join us as we speak with Dan Handford of PassiveInvesting.com, Anthony Hardy of Hardy-Heitzman Group, and Matt Faircloth of the DeRosa Group about multifamily's outlook and opportunities. The discussion will be moderated by John Casmon, host of the Target Market Insights: Multifamily + Marketing show. 

Dan Handford
Dan is a managing partner at PassiveInvesting.com, controlling a portfolio worth $275 million. He is the founder of the Multifamily Investor Nation where he educates a nationwide group (9,000+ members) of multifamily investors on how to properly invest in multifamily assets.

Anthony Hardy
Anthony Hardy has 20 years of experience as a real estate professional. Since joining Marcus & Millichap in 2011, Tony Hardy has focused exclusively on Multi-Family Investments and has successfully closed over eighty transactions ranging in size of 1-20 Million dollars throughout Chicago land and Northwest Indiana.

Matt Faircloth
Matt has completed over $30 million in real estate transactions involving private capital including fix and flips, single-family home rentals, mixed-use buildings, apartment buildings, office buildings, and tax lien investments. Matt has extensive expertise in connecting passive investors to lucrative investment opportunities through syndications, private loans and joint ventures.

Hey @Armand P., I know there are a few groups in that area. Check out the BP event page, meetups, FB Groups, and FIBI (for investors, by investors). If you don't see what you're looking for, consider starting one yourself!

Good luck!

@Arta Montero  Without understanding your current life stage and goals, it's tough to give good advice. With that noted, I would be hesitant to take out loans for a downpayment to invest in multifamily, especially against your retirement accounts. I would start with the refi funds and invest that into small multifamily if you have the time and ability to manage yourself or invest passively in someone else's multifamily deals. 

Separately, you can use self-directed retirement accounts to invest passively in multifamily and this could allow you to learn as you earn if you do not have a lot of experience right now. Please note that self-dealing is a prohibited transaction with self-directed retirement accounts, so be careful in the deal structure if you're looking to combine self-directed funds with personal funds.