All Forum Posts by: Shafi Noss

@Jack Bobeck, it'll be 2-4 units no more than 220k for the multifamily. I have a strong preference for something less, so I can develop my renovation chops. 

@Mitchlyn Davis, some agents have offered their preferred lender, which is not a bank. Do you recommend sticking to a bank? I'm out of state and will acquire my team through BP, research, and referrals. 

@Orlando Spencer I'd be happy to hear more about you Orlando, could you send me a PM telling me more about yourself?

@George Lay and @Ken Nykzaj Thanks, that's good advice from both of you. I've been doing trial and error with realtors, while looking at properties, but it sounds like its best to get all cylinders firing.

Hi everyone, 

In a little over a month I'll gain access to a bunch of capital, and plan to buy a 2-4 unit multifamily rental in Jacksonville, FL. But let's say I had access to the capital now. What's the best order to start assembling a team, and where does the purchase of the property fit it?

For example, some agents have asked me to be preapproved by a lender, I assume they want to make sure I'm serious and not wasting their time. Is it optimal to have a lender in place before doing an agent with a showing? How about contractors and property management? Should I have made contact with these guys (and gals) before I've made an offer, or should I figure I can find these guys once I've found a good deal. What do you think the optimal order to do things is?

P.S. Can anyone recommend property managers for small multifamilies in Jax?

That makes sense, thanks guys. 

Hi everyone,

I often use Rentometer.com when analyzing a property to estimate rents in single family homes. I imagine that the rental for a 2/1 single family is more than a 2/1 multifamily unit, but Rentometer doesn't take that into account. What is the most effective way to estimate rents for multifamily rentals?

I visited Indiana a few days ago for my cousins graduation, and figured I might check out the area while I was there. I mostly drove around and looked at neighborhoods, but it felt like more of a pleasure ride than good research. 

Next time when visiting a potential market, what should I make sure to do in-person while I have the chance?

Hello Investors and Researchers, 

Say you've decided to invest out of state, the grass being greener and the investments better. You have the capital to finance your first buy-and-hold rental, but have no team besides an investor-agent you've spoken to a few times. You want to educate yourself, and get familiar with your chosen city so when a great deal reveals itself, you can snap it up. So you roll up your sleeves and...

What would you do investors, what specific information would you look for?

Thanks Kuba, I appreciate the detailed response! I've been practicing on a few places and I'm hoping to close my first deal soon. I'll be sure to read your article when it comes to the real deal!

Thanks for the answers everyone!

@Miguel Castillo My bad, Jacksonville, FL. But thank you Miguel!

@Chrissy Parsons That's a good idea Chrissy, I'll try that. 

You are all right. I didn't communicate my question clearly. 

Here's my real question. If mortgage rates are so much lower than rents, why would anyone rent? Wouldn't it make more sense to pay $500/mo purchasing, and then selling when you move than $750/mo renting?