All Forum Posts by: Michael Stanley Nino

@Nik Moushon I didnt know tenants pay all utilities in SFH. Does this apply through all deals or it is usually negotiated? Thank you!

@Joe Villeneuve I see! Not to many multifamily houses that sit around the 200k mark that's ready for buy and hold. Maybe to rehab and rent but I've been finding very nice single family homes with potensial. Thanks!

So I'm just figuring out that single families has potential to cash flow more if not equal to multi families. I always thought multi families were a go to because each year rents raise which also means each unit pays perhaps a additional 50 every year. What is the pros and cons of single family to multi family? What do investors prefer when starting out (Especially out of state investing since I live in New York). I am seeking a high cash flowing property with minimum 12% ROI and 9% of cash flow. Is that a possible number to look for when investing in townhouses/condos in let's say Florida? Thanks!

Originally posted by @Armando Payano:

Agree with Lane if your first investment is out of state try to make it close to you. Within driving range preferably. Otherwise you will miss out on invaluable lessons learned. 

re 

imo, once you assign the responsibility to someone (property manager) you surrender the most valuable part on the road to FF. Which is, of course, the journey. 

 I understand where you are coming from. You are correct in that statement, especially since there are many high risk property managers. A good property manager will not only manage your property but open deals for you locally from what I've heard. There is alot of good things to a property manager. With my very busy job in Manhattan I wont have much time to travel to many places locally. The cheapest place I could go to is probably 2~3 hours away from where I currently live. And if something major happens at my tenant lets say a flood, I wont be able to be there ASAP.

Im not exactly sure how it goes but once you get in the business does people own more than one property manager or does a property manager run every complex you own? Im pretty sure its multiple but im just making sure.

Thanks!

Originally posted by @Todd Dexheimer:

I have written 2 blogs on getting started out of state that I think are worth checking out. The first is how to identify a market and the second is a more practical guide to getting started once you find the market. 

https://www.biggerpockets.com/blogs/10145/66160-ho...

https://www.biggerpockets.com/blogs/10145/74387-ke...

 Ill check it out, thanks! 

Originally posted by @Theo Hicks:

Hi Michael,

Passively investing in an apartment syndication is a good place to start. You won't have control of the deal, but going through the process of reviewing the deal and receiving ongoing updates as the syndicator implements the business plan will be a great learning experience. Then, you can use that knowledge to eventually syndicate your own deal, or at least take a step in the right direction.

 Thank you Mr. Hicks! I've have gotten in touch with @Omar Khan on the issue. I've talked to him today. I have read about it and it seems like a good place to start. I do have my options open though to see what is best for me. I am hopeful to get started soon. 

@Ayumi Edgar I'll take a look around! If you know any good agent you could refer them to me and maybe I can go deal hunting. Thanks Ms. Edgar I wish you the best in your investments.

@Hank Keller So you've been investing in turnkey properties this entire time? I know some people who stay far away away from them. Mainly David Greene in one of his podcasts but I think he emphasizes that it's not bad to start with. I guess he prefers to do most of the investing on his own. Although it's good I wouldn't mind turnkeying either if it profits me at the end of the month. Thanks for giving me your feedback!

@Ayumi Edgar Hi there Ayumi where have you invested in Cleveland? I saw a graph that shows east of Cleveland is a no go zone but lots of places south and west of it has been doing pretty well. Thanks!

@Sam Shueh I will make it known what is best for me for a real estate agent if I have the obligation to do so.