All Forum Posts by: Robert Rixer

There is always a way. You could buy a 100 unit with $0 down and find a lender to finance it. Of course the bolder the target, the less likely it is and probably less than .01% of people could pull this off.

More realistic advice is to get as high of paying W-2 job as you can, save up, put 5% down on a 2-4 unit, manage the heck out of it, and then leverage that experience to do a larger deal using OPM.

You need to consider the following couple of points:

1. If someone has the balance sheet, experience and capital - why would they need/trust a relatively inexperienced investor to handle the deal from A-Z versus just doing it themselves?

2. Co-GP is more than just "I need XYZ from anyone". You would be a partner to this person which requires a lot more careful consideration. An ill-conceived partnership can be fraught with danger.

@Ash Hegde @Ray Hage Thanks for the recs. I will definitely check them out

Great mindset, inspiring stuff

@John Salcedo Over 400 units in the midwest, but nothing in FL. I recently moved to South Florida and I'm looking to meet some knowledgeable real estate people.

Does anyone know of any active multifamily meetup/mastermind groups in South Florida?

Not against templates but I always recommend learning to build your own. As you grow, there are an unlimited amount of variables that can be introduced into the deal structure. Trying to go into an existing template and add/change variables is very tough. If you build your own, you can continually improve and refine it as needed.

It's tough to find a property that positively cashflows these days even with all units paying rent. Take 25% income off that and it's near impossible. 

Having said that you're nearly hitting the "1% rule" on this one, which is better than most.

Since the vacancy is required for the loan, this would fall under the loan contingency. Assuming your offer got accepted, the owner would need to get a unit vacated by closing (obviously this will need to be communicated). If not, the contract can be terminated and you would get your deposit back.

You're legally bound only by the agreement you've signed with your agent. Nothing else. Procuring cause is not relevant here unless it's stated in an agreement.

It's funny everyone gets hung up on who pays the commissions. At the end of the day, all agent commissions (and all other fees for that matter) get taken out of the deal pot, so while it may appear one side is "paying for it", the buyer could get a lower price and the seller could get a higher price, without it.

You think you have a deal struck, but in reality you are net at $175k and the seller is at $180k. Assuming your broker isn't getting stiffed of course..