All Forum Posts by: Sherwin Gonzales

@Calvin Liang, I think it a depends on what your goals are and how the market is. That's the beauty of real estate investing. You can change your strategy as needed accordingly to your goals. I personally buy and hold for cash flow. If the property appreciates, then as you mention, I plan to do a cash out refi and use that to re-invest into the next property. If the market changes or something, and it's best to sell, I would sell and 1031 into another property. Again, it all depends on what you wish to accomplish. Hope that helps! Good luck!

@Denise Chavez, congrats on saving 20k! My cousin who lives in Vegas is also looking for a place and heard about this program. He mentioned that it only applies to certain zip codes? I would suggest you figure out what your goals are and what do you feel most comfortable doing that matches your lifestyle now before deciding to invest in SFH or MFH. With SFH, do you plan on getting roommates and rent out the rooms? With MFH, do you plan on managing the other tenants or yourself or getting property management? I believe an FHA loan is only 3.5% down, but you should double check with different lenders to see what loan programs they offer.

Good luck!

Welcome to BP @Gary Carino!

That's great that you've decided to diversify your investments and add real estate to your portfolio. I wished I knew more about stock market investing!

Have you decided what type of properties you want to invest in? SFH? MFH? Commercial MFH? Flipping? Etc? I would suggest you figure out what your goals are and narrow down what type of property you want to focus on investing. This will help you choose which market is best for you and which individuals (brokers, lenders, partners, etc.) you want to connect with.

There are a lot of great meetups in the SF area. You should try to attend a few and network with other investors who share their experiences!

Good luck and don't forget to enjoy the journey!

@Kyle Lauriano, I empathize with you because I was in a similar situation. It seems like you want to scale bigger but don't know how because of lack of capital and lack of experience. I purchased a 2 unit property and my goal was to buy a few 2-4 unit properties every year, then maybe after 4-5 years, 1031 into a 16 unit property.

I then noticed a friend on BP, whom I didn't even know was into investing, who had similar goals as me. We started thinking and told ourselves why wait 5 years, why don't we partner up and get a 16 unit deal together and that's what we did!

By joining forces, we closed on a 16 unit deal and at the same time, get to learn off of each other's experiences and share the risks and rewards. And....I had way less capital to work with than you! And....by forming this relationship, we're already looking for our next deal!

So it is possible! You just have to think outside of the box and ask yourself "How" you can get a 16 unit deal with the capital that you have!

Good luck!

@Skylar Vincent, lots of different opinions on this topic. Ultimately, I would suggest you base your decision on your comfort level. If you feel uncomfortable getting started on your own, and you can afford 15k, and you feel that would get you to the next level, then do it. However, you can also save that 15k or use it towards your first deal and partner with someone who already has experience and learn like that. The big step is taking ACTION! 

Information is not knowledge. The only source of knowledge is experience. You need experience to gain wisdom.

Albert Einstein

Find out where you can put your 15k that will lead you to take ACTION on your first deal!

@Shar Rivera, great topic and you've already received some great advice from others on this thread! I would advise to figure out what exactly are your goals? What are you trying to achieve? Do you want to be a passive or active investor in syndication? If you invest in platforms like realtymogul or Fundrise, then it seems like you want be more passive.

If you want to be more active, I would suggest to partner up with someone who has experience in syndication. You could also be passive in a deal, but maybe work out an agreement where the general partners could involve you in their communications through emails or calls. Maybe you can do a "ride along" and visit the property if possible. Get first hand experience that way. That's how I got started!

Good luck with whatever you chose to do!

Thanks @Willie Marquez for the invite and setting this up! @Paul Choi, you interesting in joining too?

Welcome to BP @Ryan Na!  That's great that you narrowed down your market and what you want to invest in. Where in California are you at? I would suggest you attend some local meet ups to network and meet people face to face who are investing just like you!

Good luck!

@Charles Rogers, congrats on saving capital for your deals! With that much capital, I agree with @Juan Jackson in that I would look for commercial multi family properties with 5+ units.

10k = 100 units/ $100 cash flow each

Maybe start with 25 units and grow from there.

Four (25) unit complexes are easier to manage than Twenty-five 4-plexes or 100 single family homes.

Unless you partner or syndicate and go for One (100) unit deal!

Good luck! 

Hi @Andrew Meng,

Congrats on your multi-unit property in Las Vegas! I, too, am looking to expand to Las Vegas and invest in commercial multi-family there. How many units is this property? There are different loan programs for properties with 4 or less units and 5+ units. In my experience, I was able to purchase my 2 unit property with 15% down. For my 16 unit property, I had to put 25% down. Have you contacted any lenders to see what loan programs they offer so that you can compare and choose the one that best suits your goals?