All Forum Posts by: Yannik Cudjoe-Virgil

@Pavel Jiltsov If you are looking to buy in DC then you have to be ready to pay to play. There is alot of investment going on in DC and cap rates for multifamily are compressed. Anything on the market is tight. Hope this helps

I would seen professional advice and find a CPA who is a real estate expert. 

 Zach - I agree. If you are going to be a residential real estate agent, you shouldn't expect to make any money in the first 6 months. If you are doing commercial then I would say a year. Agent fees can also be expensive. If you are not making any money then it can be a very expensive hobby. I use my RE license to make offers and sell my investment properties ( I also get commission for my own purchases and sales). Also, there is a referral opportunity to create revenue from your license. 

Hey - Meetup.com . You should be able to find quite a bit amount of investing group depending on the area

Hey @Jordan Ornat I would try to attend a local meetup and find someone experienced (like a mentor) and learn from them. Books are great but the true experience that will help  you is actually doing it or shadowing someone who does it. Hope this helps

 Hey Symone - There is always going to be competition at every level and sometimes you have to do things different to attract business. There are still deals out there in DC. It just may require a little persistence and creativity to find

Hey - wouldn't necessarily say that you need to have some career in multifamily before buying or raising money for a deal. Many have done it though education and partnering with experience operators. Don't let that train of thought hinder you from getting into the multifamily space. Educate yourself and align with someone experience and it can be done. 

Hey - I would focus on getting educated in the CRE space. It is very different from residential because it encompassed many other factors such and data and financial modelling. I would focus on that before diving into that play.

Hope this helps.

Hey - This can be a common obstacle because many property managers would be handling the billing items, hence the reason for the address difference. I would also focus on building relationships with brokers so you are not spinning your wheel trying to find owners

Hey - Like the previous post said. I would ask the title company but typically a good placeholder for closing costs is about 2-3% of the transaction