All Forum Posts by: Tony Nguyen

I've had a lot of luck with small banks or credit unions to be specific, but am looking for better terms. Looking for lender referrals who can work with 4 units and 40 units (two properties I'm dealing with right now) who will allow me to pull out an equity line after a short period of ownership (less then 6 months).

Thank you!

very nice! the bank you went to was a local bank i'm assuming? 

Hi everyone,

I'm looking for a reputable company that some of the BP members use. Can you please recommend which company you trust to handle your SD IRA 401k? I almost got a Traditional IRA, but read about the SDIRA 401k and am very glad I procrastinated :)

Thank you!

hey everyone,

I bought a 9 unit for $210,000 in Tampa, Florida a couple weeks ago. It needs about $25,000 work of work and after operating expenses, it should generate an NOI of $40,000 per year. At a 10 cap it'll be worth about $400,000. I'm having a hard time finding a lender that'll let me pull a credit line of 70% LTV of $400,000. Do you guys have any local banks you recommend?

Hey guys,

I'm trying to find phone numbers for property owners in my area. What sites do you typically use to find their contact info? As of now, I'm usng a website called TLO.com and I have some success but they give you about 10 numbers at once and you have to try all of them in order to find one person. I don't mind doing this but I'm looking to see if there is a more efficient option.

Thank you

Hi all,

It's getting more and more difficult to find the Value Added deals in most markets. They are still out there, but far and between. Many sources are saying the market is in the hyper supply stage of the real estate market cycle. For those who are trying to time the market, since the value add deals are tougher to find, for your newer acquisitions, what are you doing with your investment strategies to lower your risks and protect your assets should the market take a tumble? I'm directing this question to those investing in both residential (single houses and multi families) and commercial (retail strip centers).

Thanks!

Hi everyone,

My partner and I are starting a syndication LLC which for this example, we'll call TD, LLC. Let's say in the future we partner with a few investors and own 10 different properties and on all 10 of the LLC's, one of the members is TD, LLC. If Property #10 gets sued, since TD, LLC is on 9 other LLC's, does this mean all 9 of the other LLC's are at risk?

Thank you in advance! 

The portfolio lenders are all locally based lenders that lend and keep the loans in house right? How do you recommend going about finding one? 

Thanks everyone. Great inputs from both ends. From what I'm gathering, here's what I'm seeing:

Larger
- better economies of scale
- lower cost PSF/unit
- lower up front cost for more
- maintenance overtime can be costly
- an alternative would be passive investing into a larger fund

Smaller
- more favorable financing
- easier entry market
- larger pool of buyers when it comes time to sell
- spreading your eggs into different baskets
- less stringent code regulations
- can still be professionally managed

Overall, I think that the small apartments route can still be a a great pool for deals due to the quantity of them and general supply/demand needs. With the larger properties, from what I see in our market, they are taken up by large investments groups or institutional type investors from different parts of the county. With smaller deals, it's not easy, but could be easier to deal with the locals and buy when the time is right, similar to when investors buy single families from owners at heavier discounts. As of now, what I think I'll do is continue to keep my options open for larger deals as I always have been, but also keep a lookout for smaller deals too (2-4 units), particularly in areas where I see a level of demand where I could buy a cluster of them to make managing them for the team an easier task. I truly would prefer 1-2 larger properties of about 20 units each or so, but given the level of supply that is available, if the small deal is right, we'll go for it. 

Hi all, For the past 6 months I've been looking for 20-30 apartment units to purchase, but have been having a hard time finding deals that make sense. They're selling at 8 caps stabilized with not much value add opportunities availability in the centra Florida region, if any at all. I was wonderig if anyone has ran into this challenge and opted to buy several smaller properties instead of just 1 large one? I was debating of buying several 2-4 unit properties instead of just 1 larger 20 unit. Any insight would be appreciated, thanks!