All Forum Posts by: Michael Le

It will vary greatly by city and by submarket in that city. I'm most familiar with Texas markets and Houston and DFW generally have larger units than Austin and San Antonio. And  suburban properties generally have larger units than urban ones. Unit mix also varies between those scenarios too.

Hey @David Gbamele, you'll find some people on BP local to Greensboro but you'll probably have more luck finding someone for coffee/lunch by going to a local multifamily-oriented meetup. Also, I used to work with Cisco stuff (CCIE 6811) and have been at the campus on RTP. Good to see another network person breaking into multifamily.

Is this property on the market or are you attempting to make an off-market direct-to-seller purchase? If it's on the market then everything you're asking for is part of the standard packet of financials that would be shared. Even though smaller properties like this have mom and pop owners, a rent roll is so basic they should have that. If it's off market then it could be they're not interested in selling or not serious enough until you bring them a real offer. It'll be hard to do without any financials but you can still do it by underwriting based on the surrounding market. If you know it well enough you could guess the financials based on how the property operations should be running (regardless of how it's currently running) and make the offer based on that, contingent on you verifying that information during due dligence.

Hi Johnny, 

Is this a nice class A or at least class B area that could handle the rents that would be required for a new build to make sense? Since there is a property getting built nearby I'm assuming so but you should do your own analysis.

As for cost, I would think the owner of that 10-unit across the street might be a good place to start. Ask for an introduction to his GC. You can also talk to some architects or civil engineers that might be able to make some introductions too.

Hey Hayden, I'm generally a proponent but I think it depends on your personal situation and your disposition. Some people are able to get education on their own and then jump into the fires to learn more from there. Others end up in analysis paralysis, educating themselves forever. Also, if you only have $100k to invest, I wouldn't suggest spending 20-30% of that just for education. Feel free to DM.

Just get @Brian Burke's book The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications. That should give you a strong starting point to come back and ask more specific questions.

Sounds like you want to set up a click funnel to gather potential investor information. There's nothing to be registered. Just make sure that after you start communication with those people that you document it well so that you'd qualify for whatever exemption you're looking to do.

You should look into Solo 401k instead. It gives you more control. I used Sense Financial to set mine up. 

@Dmitriy Fomichenko can help you.

How big are the hotel rooms? Do you have to combine them to get larger units? Do they have the plumbing required to put in a kitchen? Seems like $10k a door is a bit light but I've never done this before so what do I know. Did you consult an architect before going down this path?

I wouldn't say buying a vacant lot, getting it entitled, going through construction of 2 duplexes, and managing the tenants after is passive. Maybe more so than a restaurant but still very involved. What exactly are you hoping to do?