All Forum Posts by: Michael J. Abel

Not currently, but interested. Will PM you.

Way to go!! Thats great determination. Keep us posted on your progress. 

Thanks for sharing. Which two syndicators did you invest with (ones that exited) and what was their initial business plan?

House hacking is a great way to get started. With 4 units or less you can take advantage of conventional residential financing which will provide the best rates and terms. I don't think cash flowing while you are living in one of the units is your biggest concern. Its the longer term. Will the property cash flow with all 4 units rented? 

I think hard money is an option but each hard money lender will have their own guidelines and fees. Check their max LTVs most still will require a down-payment. They can be expensive. Another option is to save or borrow for a down payment and purchase with conventional financing. 

If you are thinking about hard money, you need to think about the longer term. Hard money is not a long term financing option so ideally you would want to refinance shortly after purchase with conventional financing. 

I think the best option for you will depend on your goals, how much savings you have for a down-payment, rates/fees of hard money lenders, etc. If you currently own a home and you have equity consider a HELOC or equity home loan to provide the cash for a down payment.

I am managing properties out of state and I typically use property management for tenant placement only. One of the main reasons why is because it has been extremely difficult to find a good property management company. I believe you can manage rentals from almost anywhere if you want to and have the time and patience. I would suggest maybe getting some additional property management experience on your own so you know what is important. Then, if/when you are ready, you can hire a property management company at any time. 

Not sure there is a bulk import capability on Deal Check. I would look for another way to filter your list down before full deal analysis.

Many opinions on this. I have been using Deal Check recently because it is thorough and comprehensive. It can analyze many strategies from buy and hold to BRRRR to Flips but it is $19.99 a month.

I would also suggest regular inspections. They could tell you everything you want to hear, but you really don't know until you inspect the property. 

I am looking to transition from single family to multifamily so I can scale up quickly and easier. I know how much time and effort single family properties can take, and I can't imagine acquiring and managing 100 of them so if you need 100 units to reach your goals you can get there much faster with multifamily.