All Forum Posts by: Shalini Kadaveru

@Zack Eastwood, you already have a leg up over others since you are a single-family home investor. And small multi-family (Duplex, Triplex, quads) are similar to single-family. What's great about these small multi-family properties is that they qualify for residential loan financing.

To gain more confidence, narrow down the zipcodes that interest you and start analyzing properties. MLS sites such as Realtor.com, Zillow, Trulia regularly post multi-family listings. Adjust the search filters to see multi-family units. Loopnet, Crexi are more focused on 3+ units. For multi-family units, I have had the most luck with Crexi. I noticed that once I save properties that match my investing criteria, the listing brokers ping me later. They add me to their newsletter and start sending their new listings regularly.

As author Greg McKeown put it: "If you focus on what you lack, you lose what you have. If you focus on what you have, you gain what you lack." Remember, you are already an investor. Good luck with your journey!

@Tim McGarvey, I am curious why you want to put a price in the direct mail. It seems that there is an underlying assumption that owners will be willing to speak with you if you put an offer price in the letter. Did you see this tactic work well for you or anyone you know? However, placing a price in the initial marketing letter seems risky. If the property is performing well, and you are going with averages, the owner will be disappointed.

On the other hand, if the property is performing poorly and you offer a lower valuation, the owner will think the letter was a bait and switch. Therefore, my recommendation is not to put a price. Instead, play up your other strengths such as experience, ability to close quickly, etc.

@Chad Smith, Have you tried to bring in an experienced operator to the deal? Since this is your first deal, an experienced operator will remove obstacles that you might face in securing lending, raising capital, and asset management. Of course, you will make less but don't try to hit the ball out of the park on your first deal. While the returns will be lower, it could be a great learning experience that will set you up nicely for subsequent deals. Use Biggerpockets and attend local REI meetups to locate established, experienced operators in your area.

@Anna Sam, I would go back to your "why" for real estate investing. At this point in your life journey, are you looking to build wealth, or do you want to quit your job and rely on the cash flow from rental properties? Since you are looking at small multifamily, you are probably doing this as a side hustle as long as you are underwriting conservatively and ensure that the property cashflows, you will be ok. I have heard this from several industry experts that, unlike the 2008 crisis, this time around, the underwriting standards are high. I also fall into the camp that "Time in the market is better than timing the market."

I am sorry to hear about your divorce. I am hoping that things turn better for you with time. As other folks have commented, the path that you choose depends on your investment goals. If you plan to be a "buy and hold" investor, you might be better off with a larger property since you can get a professional property manager. However, it could be daunting to learn about real estate investing when so many changes are going on in your life. Another option is to speak with a real estate CPA about the possibility of parking money in a DST (Delaware Statutory Trust)for a few years before you make your multifamily investment.

@Mike Bloom@Mike Bloom, even though banks require ~25% down payment, you must raise at least 33% of the purchase price to be on the safe side. You will need the additional capital for closing costs and to set aside a budget for reserves.

Have you considered other creative financing options, such as seller financing? Seller financing could bring down your debt and, therefore, the down payment requirement.

Details

Event Topic: How to Create a Constant Deal Flow in Real Estate
Date: February 16, 2022, Wednesday at 7:00 pm – 8:30 pm PT

Agenda:

🔘 Introductions
🔘 How to create a constant deal flow
🔘 Needs & Wants
🔘 Goal setting

About Techie Rookie Real estate investor meetup

We are women in tech who want to pursue financial independence through real estate investing. The goal of the group is to meet fellow techies who are already investing or looking forward to investing in multifamily properties. Come to learn, grow, and stay motivated to pursue your dreams & aspirations!

Our monthly meetups are a great place for attendees to share their journey with fellow real estate investors. We will be talking about mindset as much as real estate to achieve our financial goals. While this is a women-focused real estate investor group, others are welcome to join.

See you there!
============================
Wednesday, February 16, 2022, at 7:00 pm – 8:30 pm PT

Hello fellow and aspiring investors, come and join us in our first online meet-up for this year!

Event Topic: How to Select Markets to Invest in Real Estate
Date: January 26, 2022, Wednesday at 7:00 pm – 8:30 pm PT

Agenda:

🔘 Introductions
🔘 How to select markets to invest in Real Estate
🔘 Needs & Wants
🔘 Goal setting

About Techie Rookie Real estate investor meetup

We are women in tech who want to pursue financial independence through real estate investing. The goal of the group is to meet fellow techies who are already investing or looking forward to investing in multifamily properties. Come to learn, grow, and stay motivated to pursue your dreams & aspirations!

Our monthly meetups are a great place for attendees to share their journey with fellow real estate investors. We will be talking about mindset as much as real estate to achieve our financial goals. While this is a women-focused real estate investor group, others are welcome to join.

See you there!
============================
Wednesday, January 26, 2022, at 7:00 pm – 8:30 pm PST

To secure your spot, please click the link: 

https://www.meetup.com/techie-...

Please sign up here to join us on Dec 8th for our monthly meetup.

Agenda for Dec 8th

🔘 Introductions
🔘 Top 5 reasons why real estate partnerships fail
🔘 Needs & Wants
🔘 Goal setting

About Techie Rookie REI meetup

We are women in tech who want to pursue financial independence through
real estate investing. The goal of the group is to meet fellow techies
who are already investing or looking forward to investing in multifamily
properties. Come to learn, grow, and stay motivated to pursue your
dreams & aspirations!

Our monthly meetups are a great place
for attendees to share their journey with fellow real estate investors.
We will be talking about mindset as much as real estate to achieve our
financial goals. While this is a women-focused real estate investor
group, others are welcome to join.