All Forum Posts by: Joel Florek

@Hugo Castellanos Check out page 2 or 3 and you will find some more information. Otherwise PM me and I will send it to you personally. You definitely made the right choice not to buy that place in my opinion. I will likely not own my own home for a while and bounce between my different apartment buildings for next few years as I renovate units while I live in them. 

When I hear of people like you with a good chunk of money to invest I would caution going out to buy the first deal that you can find that would tie up all that money. Can you figure out a way to get creative financing to take that money and do 3 deals where the traditional down payment was $120k? I make good money for a recent college grad, but its still under 6 figures. That being said I can either invest in small things and slowly build, save money until I can afford the down payment on a bigger property, of find a way to safely leverage up to get big deals done right now. It would take me 8 years of diligently saving money to get the down payment I would have needed to close this 16 unit deal. In 4 years through principle pay down I will have built that same amount of equity and in 8 will have doubled the amount I would have needed. 

Plus, by buying under the appraised value I automatically create equity on the books that banks use to determine my total assets and see if they are comfortable lending on a future deal. 

Feel free to PM me and we can get into the weeds and discuss any detailed questions you might have. 

@John Ratigan Check out page 2 and 3 and I posted up some of that information. PM me if you cant find it. 

@Joseph M. Absolutely. All were conservatively estimated to reach my $65k NOI estimate. I have beaten a number of my expenses by 20% to 30% already by shopping around.

@Doug Statum I think they are on page 2 or 3 but feel free to PM me and I will answer any specifics that you want to know.

@Account Closed Ill be sure to do that!

@Aaron Linden My original goal was 20 in 3 years. I beat that very handedly. Now its 150 by age 30. Keep the end goal in mind but focus on finding your next deal. Once that closes then immediately start going after the next!

@Account Closed Thanks my friend! Love Boston by the way, just cant figure how I am supposed to get from point A to point B in any sort of logical fashion... 

@Jason Roetter Forgot to tag you. 

I started with a 4 unit. Go do something which you can support with your day job first if all else fails, then grow your business when you are confident you have systems or know what systems will need to be put in place to manage appropriately and scale as you find the deals that fit your long term strategy. 

I started with a 4 unit. Go do something which you can support with your day job first, then grow your business when you are confident you have systems or know what systems will need to be put in place to manage appropriately. 

 Not sure I am following your question here. Feel free to reach out and I will do my best to help!