All Forum Posts by: Kenny Hsu

I've heard many say that you need a mentor as you are starting out. Have also heard that people pay for these mentors/coaches - which is different than the notion of mentors in other aspects of life. What have people done? If you do pay for your coach, how does the fee work?

Looking at a multifamily ~30 units that have master meter for water and electricity. How much does it cost to install submeters for both? How do you determine if you can bill utilities back to the tenants? Is RUBS just easier? Would love to hear some war stories!!!

Has anybody use them to buy MF properties? What has your experience been like? Would you recommend it?

Who would you suggest as the best CPA for a budding multifamily investor? Have a few SFR now and have been doing my own taxes. Feels like time to finally get help as I move to MF! Any recommendations would be much appreciated!!

thanks Patrick. Have you get the need to walk to a branch?  I can't think of a reason why but wanna make sure I'm not missing anything

What do you all use for your banking?  I hold properties out of state and want to change from my current bank.  Thinking about Capital One now as they seem to have a low cost offering.

How did you guys pick?  Was local presence to you important?  

Thanks!!

Kenny

Hey guys - been looking into the Detroit market for multifamily (10+ units) and feels like you can still buy at a pretty health cap rate.  Looking forward to really rolling up my sleeves and digging into the market and studying the neighborhoods.

Any pointers (places to look, places to avoid, market cycles, etc.) would be much appreciated!!

Been using cozy for a couple of years.  The thing that does make me nervous is they are a startup and could go out of biz.  But otherwise they've been good.

Thanks so much for the warm welcome everyone. I will reach out to each of you in response. BP rocks!

Hi everyone - want to start building my all-star team who will help me make my first multifamily and beyond.  How have you guys built your team (lawyer, accountant, property manager, banker/mortgage broker)?  When have you brought them on?  Who's local to you vs. local to the market (I live in CA now)?

My strategy:

- I've got my own capital lined up for the first deal - will probably use my own capital for the first deal.  May raise money for the next deal once I learn from my own mistakes

- started to hone in on a couple of markets in the pacific northwest

- First 2-3 deals will probably in the same market.  First deal will probably 10-20 units.  Maybe get a little bigger after that.

- Will be looking for value add play (they seem more fun!)

Appreciate any pointers!!