All Forum Posts by: Jonathan Kennon

I appreciate all of your feedback and input. I will say, everyone mentioned something that I didn’t think about fully, and I am grateful for that. I haven’t made any moves on this property yet. This is a property that I was looking at that seemed to be good on numbers, but I can tell there is more that needs to be considered with regards to location and other administrative details inside of the property itself. 

Again, I’m a first time investor with no properties yet. I am trying to see if I’m properly grasping what I need to  in order to be successful with this and learn the process correctly. Again thank you to all that provided some type of feedback. Back to drawing board I go. 

~Jonathan 

So...I am terribly sorry, I entered in the wrong numbers for this posting. These were numbers on a unit that actually wasn't going to play out. I was entering them on a car ride with the family an wasn't paying attention to what I was inputting. Attached is the spreadsheet for the  Unit I am looking for. Same area, just different numbers and unit. 

Unit is 2/1: 

Hello all, 

So I live in Tampa, Fl and I’m looking at my first property. 2/2 Condo in Boynton Beach.
Here’s the numbers: 

Purchase-106,000
Dwnpymt-20% 21,100
Financed-85,000
Mortgage-1090

Rent-1950 

Maintenance-5%, Vacancy-7%, Prop Mgmnt-10%| Annual Exp-6500

Annual cash flow-11,431 (annual) 

COC ROR-39%

Please provide feedback on these numbers of you can. Thanks to all who comment. 

 She is absolutely correct ! Meetup.com is a really good way to start finding events. I was able to find multiple in my area that happen on a weekly basis. Good luck !

Hello all and Happy Holidays,  

I am a brand new investor and I am trying to secure my first property and I want it to be a Multifamily. I don't have much capital (none to be transparent). I am looking into a private lender to help find this. The property I am looking will need a decent amount of rehab, but the return / cash on cash return is EXCELLENT ! I am very uneducated on how a lender like this. I live in Tampa, FL but looking at properties in Ohio. If anyone could help with any info on how to find lenders like these it would be amazing. Furthermore, If I were able to possibly get a lender like this, would it have to be based out of the state that I am buying or would one in FL work ? Thanks for any advice / help ! 

So I'm trying to secure my first multifamily property and I don't have that much capital. Im trying to get a private lender involved but I am not sure on how to find one. Also, if I do find one, does anyone have any advice on what to say to try and secure their help. If anyone could help that would be great. Thanks again ! 

Thank you all of you for all of the info, you guys are the best ! Im just going to stay diligent and keep researching. I am also going to go to a local REI meetup near me as well, so thanks too for that advice. Happy investing to you all. : )

Can anyone give any tips on where to find good deals for multifamily properties ? Whether that be on an MLS or buying foreclosures (good foreclosure sites). I've been sticking to the MLS sites and running numbers, to which nothing has been a profit or even remotely a good investment. Thanks for any help !!! : ).

Also, I am in the Tampa area, but I am not limited to this area. I am interested in expanding in other areas as well, so I am open to all areas and any info that anyone can provide in regards to quality advice.