All Forum Posts by: Account Closed
Account Closed has started 2 posts and replied 4 times.
Post: Advice Wanted: 100 Unit Property for 1st Deal??
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@Caleb Brown Thank you for your reply. Those are my thoughts as well.
I haven't run the numbers on it because the financing portion is so up in the air. However, I reviewed the Offering Memorandum this morning and the price exceptionally good for our area.
I would love to do a house hack, unfortunately that is not an option for us.
Post: Advice Wanted: 100 Unit Property for 1st Deal??
- Posts 4
- Votes 0
My husband and I are new to investing.
I have been interested in real estate investing for many years, but by husband just got on board when he became good friends with a local investor who owns multiple large apartment complexes in our area. This friend has happily taken on the role as a mentor to my husband. The friend / mentor found a 100 unit property that he thinks could be a good deal for us. My husband and I can only afford a 2-4 unit property on our own, so the mentor has offered to either partner on the deal or be our private money lender. My husband trusts his mentor completely and is entertaining the idea. I, on the other hand, am terrified of taking on that many doors with ZERO landlord experience. Also, having a mentor is great, but don't want our friendship to be tainted by business dealings.
I would really appreciate any advice. Should I trust the experienced mentor, or is this many doors ridiculous for a 1st deal? What are your thoughts?
Post: Advice Wanted: 100 Unit Property for 1st Deal??
- Posts 4
- Votes 0
My husband and I are new to investing.
I have been interested in real estate investing for many years, but by husband just got on board when he became good friends with a local investor who owns multiple large apartment complexes in our area. This friend has happily taken on the role as a mentor to my husband. The friend / mentor found a 100 unit property that he thinks could be a good deal for us. My husband and I can only afford a 2-4 unit property on our own, so the mentor has offered to either partner on the deal or be our private money lender. My husband trusts his mentor completely and is entertaining the idea. I, on the other hand, am terrified of taking on that many doors with ZERO landlord experience. Also, having a mentor is great, but don't want our friendship to be tainted by business dealings.
I would really appreciate any advice. Should I trust the experienced mentor, or is this many doors ridiculous for a 1st deal? What are your thoughts?
Hi Gary, if this property is still available, please send me info.
Lauren Blumstein