All Forum Posts by: Taylor Chiu

@Scott Kimberly

The first deal is definitely the hardest, but there are plenty of roadblocks that come up on subsequent deals as well.

However, doing our first deal gave us the confidence gradually to move forward on future deals, and that does snowball overtime. At this point 5 years later we are about to cross 50 units, and it never would’ve happened if we hadn’t taken the leap of faith on that first one!

@Marisa R.

Great story, and awesome work in Atlanta! What makes you a believer in the Detroit market long-term?

@Melba Chambers Doesn't look like too good of a deal. Although I wonder if property taxes and insurance are too high. Are property taxes really $350/mo?

That said, capex and repairs seem too low, I'd budget at least 5% for each, not 3

If nothing else, I'd expect more wear and tear if there are going to be a bunch of kids there. I wouldn't let them start a daycare there unless you change the terms of the contract and charge extra rent. Or just don't let them do it at all, presuming your contract prohibits them from doing so without your permission.

@Robert Obniski You could post it on the BP marketplace, however you'll need to be a pro member to do that.

@Bryan Larsen If cheaper multis equals more maintenance and less cashflow, then I would go with the bigger B+ multi. Or are you saying that the cheaper ones cashflow less individually, but more altogether?

@Mike Dymski

I invest I C- neighborhoods, and I agree that you need to see 3-4% rule to have them be worth the extra hassle and expense

@Jason D.

Sorry if you mentioned it earlier, does this loan have a shorter term balloon, or is it 30 yr amortized with no balloon?

Four Hour Work Week by Tim Ferris. Not real estate specific, but that opened my mind to the idea that you don't have to conform to societal normals (like working 9-5, exchanging time for money, etc...)

@Caleb Ragan

So all of the properties are in the name of your LLC? If so, then you'll need to look for a commercial line of credit.