All Forum Posts by: Patrick Flanagan

@Danté Belmonte

Sounds good I sent you a message

@Jeffrey Donis

Great I’ll look in that area thank you

@Charles Seaman

I’m I’m sure you have a lot more experience in the commercial Real estate world than I ever do.

I am looking for monthly cash flow. I’m trying to slowly get out of being an electrician in Oregon working 60+ hour weeks. 

@Charles Seaman

I own a 4 plex right outside of Portland, OR. I’m looking to buy another out of state.

I’ve read several books on buying apartment buildings, had lunch and know several people that own lots of apartments. So I understand value add, how to lower expenses to Increase your roi, Increase the value of the property and refi your money out. I could sit in on a meeting talking about apartments and understand what everyone is saying But by no means could I go purchase a property on my own right now.

I do have good pile of cash reserves they keeps growing.

I’m just not “accredited” so it’s hard to get people to understand how serious I am or my actual knowledge on buying a apartment building.

@Danté Belmonte

Thank you so much for the response! I’m looking to buy my next 4 plex in about 4-6 months. Would you mind if I connect with you and ask a few questions?

In your opinion what are your top 5 real estate markets to purchase multi family (2-4 unit) homes.

I really like

Knoxville

Minneapolis

Birmingham

Phoenix

Kansas City, Mo

St. Louis

San Antonio(don’t like the property taxes) 

(There’s 7 of mine)

Let me know what your top markets are and if you’re investing in those areas

I am curious how you landed your first apartment complex?

Did you have lots of experience in the real estate?

Was it your first multi family purchase?

Did you have a partner?

I would like to buy my first apartment complex and I’m curious what route would the best option.

@Eric Turner

Next thing is would you consider moving? A little farther out to buy a duplex that you can house hack? Or look for a single family with a adu that you can rent out to offset your mortgage? Or find a roommate for the place you rent now to save more money.

@Eric Turner

Hey I would skip strategy number 1 and number 2.

There are books out there that are wayyyy cheaper and will let you keep your money.

Example #1 read crush it by Gary V he talks about how to build a expert marketing plan using social media. Start on Instagram, tik tok, Facebook. Start making videos letting people know exactly what you’re looking for and if you keep hammering that every day that’s free marketing. Your friends family and future followers will keep you in mind.

Example #2 bigger pockets is just about the best place for free counseling. You can meet some great people here who want to help you out for free.

Example #3 out if state investing. Get David Greene’s long distant real estate investing book. He teaches you how to be a 100% expert at that game.

Get on BiggerPockets and start reading about out of state markets to start researching.

I just hate to see a guru take your money, or spend 12k on a direct mail marketing campaign that you aren’t to sure if it would work. There’s a lot of free things that you can do that will excel you so quickly

My mother owns a very successful property management company. She manages 400+ properties from commercial to residential. I’ve never heard anyone talk about this strategy

But you can go to a property management company and use them just to fill your units. They charge a half a months rent but once your unit is filled you can go back to managing the property your self. For me the hard part would be picking the correct tenant.

I’m 100% for property managers and I’ll be using them on all my out of state deals. I’m a electrician so working on the building is not a problem for me. So if you are close to your properties and don’t mind working on them this might be a good thing to do.

For me that saves me a $400 a month bill, because the property management company will do what they do best and find a great tenant through their screening process.