All Forum Posts by: Jeffrey Donis

Hi there, Im a pretty new investor, I have a 4unit rental that I am currently renovating, I’m hoping to have it done this summer and fully rented, my loan is 100k on it, I believe the building will be worth around 200-250k when I’m done with it and fully rented. Should cashflow around 2k/month after expenses.

The plan is to refinance, pull out hopefully around 100k and maybe use that money for a commercial property/Multifamily with the most amount of units to try to get the best return on it, get freedom and move from New York(Buffalo) to maybe Florida.

I don’t know if I’m better off buying the large commercial multifamily where I am currently, Buffalo New York, or buy in Florida where eventually I would like to move.

Not sure if 100k would be enough to make it happen and find a good property, I suppose it would be roughly a 500k property so probably not going to be very big. If I’m lucky I might have an additional 100k so I could have 200k down payment.

I might be just dreaming here but it’s what I would love to do.

Actual performance is never ever close to the sponsor's projections. 

This goes for both GP and LP.

Spend the majority of your time with people who have more success than you 

Commit to telling your story and adding value through digital content

Learn something difficult every single day

The goal should be to acquire talents, not units 

Pay yourself last, and if possible not at all

Give them the 60 days required and jack it up to $1450.  At $900 you are losing $550 a month or $6600 a year, at $1100 you are losing $350 a month or $4200 a year.  Unless you wear a red suit, have a white beard and collect your rents in a sleigh, that doesn't sound like smart business to me.

@Jose Soto.  I agree with what @Jeffrey Donis shared. I would add The Real Estate Guys Radio show.  They have a syndication event March 27-28.  I also recommend the Brian Burke BP book called The Hands-Off Investor.  Good luck! 

@Sitaram Koppaka what size MF are we talking about? Typically 2 BRs are the most versatile, but it can depend on the location. If it is an urban center full of working professionals, 1 BRs can be attractive. If it is a family friendly area, with good proximity to schools, 2 and 3 BRs are more suitable.