All Forum Posts by: Sam Yin

@Shane Blackshear non owner occupied multifamily... my answer still the same.

@Shane Blackshear quick answer is YES. You will have to shop around and see if the terms work for you. 20-30 % is typically, but 5-10% is available as well.

@Tim Giberson I would also be very interested. I am new to REI and I have been focusing on multifamily by 1031ing my SFRs into multifamily. I am also interested in getting into storage, hotel conversions, and mix use. Please add me as I would love to hear the perspective of others and learn.

I am in Southern California and currently invest here but I'm open to anywhere.

@Jim K. After catching up on this thread, it looks like there was never any emergency or real concern. You seem to have this already handled from the beginning.

Good job.

Hope the tenants are able to move in on time.

We all have differing methods of REI, and I respect your hands on approach. This thread serves as a good lesson for all members, mainly new guys like me, to pick up the many hidden gems after reading through the posts.

@Mike Adams Love it. A little DIY, some elbow grease, and a lot of networking.

I do alot of my own work as well... more so in the beginning. I have purposefully transitioned to contracting out as the number of units grow and they are long distance. I think it is in every investors best interest to experience this early in their journey. Training and experience will help to minimize overreaction when faced with unexpected road blocks. There is NOTHING impossible to solve in these types of scenarios.

@Benjamin Aaker Ditto! That 8th unit should be the extra gravy. Always make sure you win on the "buy".

@Trent Warner Trent, I know you can do it. Thank you for your service. I have been out of the Army over 20 years, it a episode of life you will never forget and it only makes you better.

I believe there are great markets everywhere. I look at the tertiary markets and focus on mismanaged or undervalued properties. I self manage to mitigate costs. A property manager is fine but you will need to underwrite with larger margins.

FIRE stands for Financially Independent Retire Early. It's a popular movement with millennials... I know I'm a bit older but I saw it on YouTube. I learned everything from YouTube in 2020. I was able to make equal passive income to my W2.

@Jonah Richard outstanding. You inspire me. My goal is to leave my W2 in a few years as well. I just find it hard to leave the solid pay that allows for additional leverage. Also, I stay because I can make my own schedule at my W2 so I can still do alot of REI.

Congrats and I hope you grow even bigger!

@Trent Warner it is a matter of commitment and motivation. Find your "why". When you find it, you will find your will and your way.

AZ is an EXCELLENT market. There are excellent markets in every state.

To put into perspective, my wife and I both have full time jobs. I also runs a motorcycle repair shop on the side and I teach occasionally at the local college. We have 3 young kids and I take care of my mom. I continue to be able to invest in real estate.

My "why"... build a legacy for my bloodline and FIRE. It took me about 14 month to achieve FIRE... or FI. But I continue to work, leverage, and invest to build a larger base. There are 24 hours in a day. You need 4-6 hours of sleep and 1 hour for exercise everyday. The rest is available to you.

Find that WHY.

@Sam Tamayo very nice! Always never too late to get back in the game. I was the same way. I just got back into this last year and got myself more educated on the nuances since I want to make this a real business rather than a hobby this go round. Good luck.