All Forum Posts by: Yoni Benimetzky

You can use credit Karma to check you credit score, it's a soft inquiry so it wont hurt your credit. 
I think the best place to start is always your local bank. Create a relationship with one of the business managers at your local branch and start the conversation there. 

Id like to add one more element regarding the office market

Companies will realize that entire departments will be able to continue to work from home causing office vacancies across the board. 

Creating and nurturing a strong network of brokers (in my opinion) is the best way to become a multi family deal finder. You can also farm a specific market and cold call multi family owners and introduce yourself. Deal finding is all about networking and consistency. Keep tabs on owners you were able to reach and the brokers you get introduced to and follow up with them every few months. 

Costar, loopnet, MLS, are some websites you can use. Costar owns loopnet btw, it isn't cheap but it will give you an insane amount of data.

Hey Jacob, 

The first year is tough and the corona virus won't make this year any easier for you. 
Even though your network may not be buying or selling real estate, they certainly will need help with renting! Rentals is a great way to start. There is a lot of value in starting off in rentals before getting into sales. You'll learn a lot about how to interact with your clients and when done right they'll become repeat costumers in the future. In a few years your network will begin buying homes, and when they do you'll be the first person they call (we hope)  

Hey David, 
Usually you'll want to have the property under contract before talking with any lenders. The only reason to reach out to a lender first would be to make their acquaintance. HML work fast and will need due diligence items from you that you may not have until after you're under contract. They also wont want to waste time with you, being under contract shows that you're moving in the right direction.

I'm no expert on the value of properties in that market but based on what you're saying it sounds like it might be a good idea to sell. Finding a new renter may become difficult in the next few months and corona has significantly lowered peoples movement.

Hey @Alex Rodeberg
Self managing is certainly the way to go if you're up for it, in my opinion of course. There's nothing like having your finger on the pulse of your rentals. 3rd party management companies will do the job but they will add fees on top of everything they can (it's part of the business) Plus, they don't really have any vested interest in over delivering. 

It's much easier using a 3rd party management company though. If you end up hiring employees you'll have to also manage them. Sounds like your father and uncle have enough units to get a better deal on using 3rd party so maybe shop that around more.  

Sounds like a tough situation. Consult with your attorney and if advisable I would ask him to write up a demand letter for you. You want to avoid a lawsuit, and a demand letter shows you mean business but concurrently allows the seller an opportunity to remedy the problem before it escalates.  

Hope that helps 

Hey Abhay, 

what type of properties are looking to research? 

I'm usually more of an optimist but hear me out, 

Unemployment will continue to sky rocket in the near future 

People who were fired will get nervous and want to avoid any future depreciation in home values since right now values are still historically high. They will try and sell. 

No new buyers will be able to physically view the house and will also not want to move during this uncertain time. 

Supply increases, demand decreases, defaults without foreclosures (not allowed for now but will be soon enough) will create a new real estate panic 

Government will require banks to loosen the grips that were put in place after the last crash..... New real estate crash?