All Forum Posts by: Justin S.

Maura, What type of vacation properties? Lake front? Are they in NY? I've thought about trying that instead of the MFs I do but don't know much about them Justin

Nice buy for sure! Nicely done!

I hear that about the longer term tenant but I look for the better cash flow and the covering myself with the other rents coming in as mike b was saying. I find MFs cash flow much better. I have 18 units with two buildings being a 5unit and a 4unit. I think of the fact that I have two roofs for 9 units too. I know it's all preference but I certainly lean towards the MF all day. I am currently looking for something around the 6-10unit range.

I hear a lot of people talking about purchasing Single Family houses and I don't quite understand (I don't disagree....yet)why they would buy them over a Multi Family. I am an investor and have all MF properties. My philosophy has always been about getting more units. I am trying to learn as many different ways to invest. With that being said, can anyone give me some pros to investing in SF as opposed to MF? Thanks Justin

I have a 1600sq ft store front and want to convert it into apartments.  The rest of the building is 4-2bdrm apartments.  I need to get drawings of the plan for the town. 

My two questions are:

1.Where do I start?

2.Do I make 2 small units or 1 large 3 bedroom

FYI, parking here is very limited

Thanks

a dark gray with white trim and red door

Ben,

Thanks for the advice.  That's an interesting story and I will absolutely take that into consideration as I analyze this deal further

thanks

David,

That is exactly why I am looking to do this.  Thank you again for your advice.  I can tell that it will come in handy in my future deals

justin

Thanks Dave and John,

Yeah I think the hard money route  is the way to go for me.  Im trying to explore new ways of acquiring property, so I looked into the equity partner thing. 

Ive done hard money in the past for the 20% down and its pretty straight forward.  I get mine at 14% which is a touch high but we are talking a small amount extra for the first year until I pay it back

Yes I am tapped out of my equity for probably another 2-3 years.  I do have 30k available from my own home equity but I keep that open for emergencies

I just don't like the idea of giving up equity.  My gut tells me to take the hard money and try to refinance later. 

I love opening it up to all of you and getting all of the feedback. 

I love learning different ways to accomplish my real estate goals!