All Forum Posts by: Mark Weinmann

lol @Brent Coombs no iim certainly not ready for that...NOT YET!

ok @Jim D. i didn't really look at it that way. Ive assumed commercial was the way to go to increase cashflow exponentially. Yes i am doing owner occupied 3.5% down strategy which i know is a good method and will work. I think all the success stories on BP of folks gaining so many units in a few years has me a little too excited.

Thanks @Ron Flatt for the post greg scott makes a very valid point 

Yea @Harrison Liu he mentions to me all the time how expensive the property is now and also that dreaded rent control smh. but i will continue to steadfast on the residential units 

wow @Dustin Frank i definitely will be cautious w/partnerships. good luck 

LMAO @Jim D. thanks for that vid

thanks for the link @Jim D. i will definitely check it out. My main accomplishment is financial freedom period. I read several posts, listen to BP podcasts and read books etc and many people gain several units including 5+units within a few years and i just want to know all avenues to achieve that. 

yea @Harrison Liu your right i should be more patient. Although i do believe my mentor's second or first property was commercial, even though it was in the 100k-180k range years ago. Im anxious to get into commercial apartments because i know the equity is easier to increase with rent raises etc than it is in residential properties

oh ok that is a good strategy you use 80% to pay for everything. Any idea which post @greg scott mentioned that info?

So @Ron Flatt when you say having rents cover everything up to 80% occupancy, do you mean as in my case where 3 of my units pay for the mortgage and utilities? 

this thread is enlightening as these are some of the same questions I've had @Lucas Mills..i currently have a 4unit (2 duplexes) and i live in one unit and currently bringing in $3700 per month in income..Mortgage pmt $3148= $552 surplus, but i do pay utilities which average around $500 a month for all units so i usually have $30 to 50 left over. Once i move out and gain a new tenant that'll be at least an extra $1200 per month not too mention another tenants lease is almost up at which time i will potentially increase $50 or so. My goal is to have each unit individually metered which at that point potentially bring in @ least $500 more a month. So around $1700 per month off this one property not including vacancy, capex, maintenance reserves.