All Forum Posts by: Nik S.

You couldn't have made a better decision! I feel bad for Windows users.......

Assuming deal is over 1mm, you have good experience and the property is performing...lenders can offer you 80% LTV.

@Jonathan Trimboli

First see what main software(s) you would be using, whichever system it is compatible to, you have no choice but to go for that. As others have said, most software you will need is web based so the decision should be yours. 

My opinion is MAC is the only option. I personally HATE any windows based laptops/computers. Majority of viruses are for windows based as MAC's offer a much higher level of security. Speed, performance and longevity are hands down MAC products. 

In my office, I have other employees who have to use Windows computers and I really feel bad for them. Processing speeds are sooooo much slower than even older Mac's. 

Do not make the mistake and go Windows, Mac's last you much longer and even hold better value if that's of any importance. 

Spend the more money upfront and get a better machine. Windows computers are disposable, Mac's aren't. 

@Joel S.

The property's performance, your balance sheet, net worth, credit & experience is what lenders will be looking at. Work with smaller local banks for the best rates. Tax returns are the best indicator of your annual income so it's a catch 22 when your writing off a lot of business expenses. Rates are pretty amazing right now so take advantage of it and go for it! There's not much difference between investing in SFH vs multifamily....except multi is sooo much better for economy of scale. My experience has been that multi-family brings less $ per door however depends how you manage (ie: or use PM).

@Ley Nezifort

https://www.biggerpockets.com/...

@Ley Nezifort

First commercial deal was an apartment building package (50 units). Never even owned a rental home prior. Economy of scale is what attracted me to multi-family.

Now apartment buildings is my only long term holds and attraction....for now that is!

Walk before you run....ahhhh debatable. You have a brain, might as well strengthen it and apply your knowledge where your passion is!

Commercial deals provide much more momentum. Cash flow, forced appreciation and long term equity growth!

@Vincent Dimedio

I have apartment units (1 bedroom) that are rented to section 8 tenants. Rents are guaranteed and tenants are to obey there lease. If a S8 tenant violates lease, they can potentially lose there voucher status. Where I’m from there’s a 2 year waiting list so essentially s8 tenants do NOT want to lose it....

Sure there are some scummy s8 tenants but there are many financially responsible who are equally as bad.

Screen S8 tenants like you would do other non s8 tenants. Some housing authorities cap rental rates paid however if you can achieve your desired market rate (you can deny a s8 tenant if the housing authority won’t pay your requested rental rate) then why not. All depends on what type of tenants your asset attracts.

Ups and downs in every aspect however I have been successful thus far. I don’t think I will pursue more buildings that attract s8 tenants however I’m glad it’s In my portfolio!

@Claire Mahon

If you can get 10% or better CoC (Cash on Cash), your doing good in this current market.

@Lindel Turner

Meet with an atty. If you don’t have a will and or trust have it set up. In simple terms, your Atty will add language about transferring the entity’s membership interest to your desired party.

if you can cash flow at current acquisitions price and assuming rents are realistic long term, go for it. Most people sit on the sidelines their whole life OR when they could have made a move earlier than they did.

People are afraid of taking risks and losing. Warren buffets rule is to never lose money aka the principle... I follow that however, it happens. Education isn’t free..... once you gain your “deal confidence ability”, watch the magic happen. Confidence is a hell of a trait!

Run your numbers, know your numbers. It’s funny, I’m doing deals my Father would say he doesn’t have an appetite for. Fast forward, now he says the value in my strategy.... we can all be fooled but do your research and go for it!

Interest rates are helping the compressed cap rates. Force some appreciation and everything “ balance out.

This market is on fire. We will be in better standing once it “softens” compared to last recession.

Cheers!