All Forum Posts by: Mason Weiss

Hey Sandy, I would definitely do an inspection. You can have the seller cover some repair items or obtain more concessions at closing. Plus, you can avoid a potential disastrous repair on the property that can put you in a big hole.

Also, I would get a second opinion for the inspection. I don't think it should cost that much and you can find a good inspector for closer to $1K for that size property. 

Have you thought about going to a private money lender instead for such small amount?

I think the answer lies in the question, why do you need a 1:1 coach? What are the obstacles that you think a 1:1 coach would help you overcome? Hard to know if the coaching is worth the price until we hear the WHY behind wanting the mentorship.

Multi-family is all a math game. If you want to grow into more units, don't neglect the same fundamentals. 

I cannot emphasize how important it is to start building relationships with lenders if you want to grow into these larger properties. Focus on small banks, credit unions, and anyone else you can build a relationship with who will trust your vision.

IT is important to understand, less important to complete yourself. If you are looking to buy, almost all sellers of this property type will already have a pro forma built. 

However, you need to be able to understand the pro form so you can conduct proper due diligence and not rely on the seller's numbers.

Hey @Jonathan Bebey, I use TrueBooks. Very knowledgeable when it comes to utilizing real estate to lower your tax liability. If you want an introduction let me know.

https://www.truebookscpa.com/

Hey Connor,

What are you providing in return for mentorship? Are you willing to pay or are you providing a service in return?

Meetup is happening tomorrow at 9am! Don't miss out if you want to meet other professionals and investors in the RE space!

Hey Charitha! Make sure you are allowed to manage MTR's legally as these are considered long term rentals from a compliance perspective. You might need a RE license in your state and approval from your broker. 

Hey Marcus, love the desire to own an apartment building! Start building up smaller wins and get the ball rolling for your capital and knowledge. Educate yourself and start seeing if you can get your feet wet with single family investing through house hacking or live and flipping. These can build your confidence and influence for when you need to raise capital for an apartment building.