All Forum Posts by: Todd Olson

I recently bought an 8 unit in Wilmington a few months ago. Hard to give a lot of feedback as it has been a brief experience. I live in Central Jersey and have property management in place for my building. So far I am happy with it. There are definitely diverse sections of Wilmington so I would advise driving the neighborhoods. Good luck and hope you find a great property.

Yes, I agree with Greg Scully about property management in place. It’s a long ride for small maintenance. Factor a property management company into your numbers. Make sure it works out. I have an 8 unit about 2 and half hours away. I needed a company to help. So far so good. Hope this helps. 

Sounds like it is a 5 unit. You will need a commercial loan and 25% down. If the commercial space is unoccupied can you fill it? It might be easier to renovate it and make it a residential spot with possibly more bedrooms and higher rent. Just my opinion. I am in the same situation with 7 residential units and the commercial space downstairs is moving out. I am going to transition it into a unit to rent instead of search for a commercial tenant. 

There are many questions and answers to that inquiry. Educate yourself. Network with others around you that have already done what you want to do. Be more specific in your description of what you want. 

@Tianyi Chen I am closing on an 8 unit In Wilmington this week. Can you tell me the property management company you use so I can use precaution?

Thank you!

@Taylor 

@Taylor L. It’s in Wilmington. Closing this week. Thank you and good luck in your future! undefined

I attended the 10XGrowthcon as well. Terrific experience. Being around like minded people was inspiring enough. Adding in the speakers, Grant Cardone and his team was icing on the cake. I did not get as much real estate takeaway as much as doing more focus on 10Xing my goals and dreams. I learned a lot from a couple of the speakers and met some great people in the crowd. I have to say Pete Vargas really hit me the hardest. I never heard of him before the event. He stressed being a speaker in front of many people to get your message or product out into the world. I believe each speaker punched everyone in the mouth with some sort of a value-add to their life. It really depended on what you do and your hopes and dreams and why you were there. I will certainly will continue to follow Grant and learn from him. I first discovered him on his podcast here at BiggerPockets. Episode #108. I am closing on my first commercial property later this week. An 8 unit building in Delaware. Many people on this site think too small. You are capable of much more than you give yourself credit. Think bigger to scale faster. Financial freedom is the goal @brandonturner preaches. 

I too am looking for property management in Delaware. I am in the process of buying an 8 unit and will be in need. Thank you for any recommendations.

Eric I am curious why do you feel A.C.is on a rebound? Possibility of sports gambling? Thank you for your feedback. 

I do not suggest using Chris Goodson. I tried them and was dissatisfied with their disorganized handling of my primary purchase. I had to switch to Ramp, Renaud & Hlavenka. Much better outcome and more professional. They are in East Brunswick.