All Forum Posts by: Jonah Freedman

How was it? Was it worth going too?

I don't think I would sell a property in a highly appreciating market that cashflows.  You can refi and invest for cashflow with the money that you pull out from the property and keep this one to get rich!

I am 38. I currently have 48 units. I started when I was 30 with a 4- plex where my wife and I lived in the smallest apartment. A year ago I owned 21 units but then I bought 4 houses from one owner and 2 from another and doubled my portfolio. Looking to do that that again. Just remember it all starts with the taken action and buying your first house.

We have renting all of our apartments with virtual tours  We are lucky that have videos for all of our apartments. If you do not have a video first tell the tenant you totally understand her request but you will need her help to rent the apartment. Then ask her to take a video tour of the apartment that you can show future tenants. If a future tenant watches the video tour and needs to see more ask the current tenant to do a face time tour. You may need to pay the current tenant to do this. We have had a lot of success with this, and have rented about 10 rooms this way. 

I agree that it is important to outsources as much as possible. Though I think to many people think it has to be I do everything or I hire a property managment company. I prefer to self manage but do as little of the work myself as possible. If I hired a property manager it would cost me 60k+ a year + all the markups for repairs etc. I use a virtual assistent in the philipines that I pay 6k a year and property management software that cost about $80 a month. I have a repair man who does other jobs but I give him about 50% of his work so he is always there for me. With all the help and utilizing tech I probably work about 10 hrs a week on the management side of the business. So I would say there are many ways to play this game.

Nobody seems to know the true answer. I live in a college town and with all the kids gone. Many of the banks are offering forbearance. I work with two small local banks. I am refinancing about 10 loans with one of them and at the same time put  8 loans in forbearance with the other bank. Both banks assured me that this would not mess with the refinance or my future ability to borrow from them. Why would they say this if this was not true? Keep in mind I have about a 10 year relationship with both banks. 

So maybe small banks and credit unions will look at this differently?  After reading on here that it could be a problem I called my loan originator and asked him if I could just pay the payments now and push the forbearance to next month if I really need it. He said since it is already in the system, I should just bank the money so that I have it after the 3 months are up and assured me again that it will not affect my ability to borrow from them in the future. To me it seems like each bank will look at this differently. Any other thoughts or similar expierences?

Hello Everyone,

My wife and I currently own 12 rentals with around 75 tenants. We have been in process of outsourcing as much as we can.

Does anyone have any good experiences with virtual assistants? I have started to look into this but there are so many sites. Is there a company that anyone would suggest going through?  

What about bookkeeping? We use quickbooks online I would like to outsource this as well? Do people think this is safe to outsource to a virtual assistant as well?

Any thoughts would be much appreciated.

Happy investing.

Awesome story. I have done many small multi-family value adds. Though I have never owned a non residential building and would like to venture into this territory in the near future.