All Forum Posts by: Jeffrey Allen

That did not work either.  It is truncated and shows this 

https://register.gotowebinar.c...

The register link is broken.  (At least for me)

@Evan Sanderson is am not sure.  Thinking back I might have watched a podcast on youtube instead of listening like normal.

So does anyone know how to find those "grant programs" that would assist or fund the purchase of say new windows for multi-family units?  I listened to a podcast a month ago and learned some things, but I am trying to get more direct information.  I am in central Pennsylvania near Harrisburg, Pa.  I want to improve the tenants quality of life and sustain the buildings for longer use which helps us.

@Pamela Rogers howdy neighbor (almost).  I am pretty close to Gettysburg.  I think this one has been thoroughly answered by those above. Reginald did a good job summarizing.  I am currently under contract on a 52-unit apartment complex and we were fortunate enough to find a lender that will do 20% instead of 25-30% which is common in commercial loans.  We had some friends and family investors to assist with the down payment to get the deal done.

@Serge S. This is a great success story.  Congratulations.  I am awed at this amount that a single investor can take down! WOW! Thanks for posting this and the stats

@Brian Burke is great too as I am a little guy that was able to do my first syndication with him last year and his company and morals are great.  

The off market deals are impressive.  I have a partner and we are purchasing an off-market 52 unit complex this year as well.  Rents below market value, no RUBS (although not really done in my market), and plenty of value adds to implement.

@Arta Montero - I have been a structural engineer since 1996 (graduated WVU) and got my PE in 2000 when I had enough experience to sit for the test. I think if I continue down this path I should be able to replace my entire engineering salary in 5 years or less. I have one SFH (townhouse) that I self manage. One syndication deal that I am in that is pretty neat to see and this new 52-unit apartment complex we will be closing on early next year. Will let that deal settle a little as it has a good bit of work and then look to acquire some more Multi-family with my partner on this venture.

Sounds like really good advice.  I am an Engineer and I definitely tend to over analyze or want to know everything before jumping in.  However, I broke through that and purchased my first place and now have partnered for a larger multi-family deal while still working my full-time engineering job.  I am a little atypical for an engineer when it comes to being an introvert as I like to talk and to all people. :)   It will be nice in a few years to transition out of the engineering job eventually.

I like this advice.  I went from owning one single family townhouse to investing in as an LP in a syndication to being a GP in a multi-family 52 unit apartment complex (still underway) all this year.  Exciting!

Investment Info:

Townhouse buy & hold investment.

Purchase price: $126,000
Cash invested: $36,000

My first Investment Property and it should be a solid single. Located within my comfort radius of my home. This required very minimal work and was acquired slightly below market value.

What made you interested in investing in this type of deal?

The buy and hold strategy is a wealth building strategy and this deal made sense for that. Also, I wanted to get the first deal under my belt and it is a solid one.

How did you find this deal and how did you negotiate it?

MLS used an escalation clause with my office and no contingencies. My offer was not the highest, but it was the cleanest.

How did you finance this deal?

Conventional Bank Financing

How did you add value to the deal?

This was close to a turnkey property.

What was the outcome?

Closed and one week later after screening about a dozen and a half people over the phone and showing it to a half dozen I signed the lease with tenant and he was moving in a week after closing.

Lessons learned? Challenges?

Learned the process of listing an ad, screening tenants, background checks, then lease signing.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Absolutely! I would recommend my real estate agent as he is an investor too and knows his space.