All Forum Posts by: Zak Blechman

@Adam Detig

Thanks for taking the time to answer this post. Really great feedback that I’ll be using.

You mentioned it’s all about analyzing a property and making sure there’s some wiggle room during economic times of higher rates and fewer loans. Are you saying “make sure the property cash flows and you can wait out an economic trough”? And if so is that a viable plan with a small 4 unit property that I’d be using to grow equity and put into an 8,16,32 unit etc? (By viable I mean a a fast enough process to scale my units)

Thanks for your straight up answers.

I’m taking the advice of those around me and starting with a Multifamily 4 unit in CT.

Hey BP COMMUNITY,

I want to begin my journey in CT because I know the area and I can use this investment to help my nearby family while generating some appreciation. This will serve as a financial & educational launch pad for larger commercial properties.

I’ve had some difficulty pin pointing the right information for a multi family unit: these have been some of my questions.

What year does everyone recommend the building to have been built?

How would you do a proper walk through of a multi unit without knowing the ins and outs of the construction and rehab industry?

How do you go about finding correct annual financial records of the property? Or would you suggest just using a BP calculator on these smaller deals?

What functionalities of the house need to be checked? Boiler, fire and sprinkler etc...

Who would you have check them?

How would you hedge/prep yourself from not being able to refinance given a market turn?

Would you recommend using an FHA loan for a 4 unit versus placing it under an LLC to avoid some risk and gain some tax benefits?

Lastly, how have you found your past properties? I believe the bigger the better but my capital can only go so far.

I know this is lengthy. But I appreciate any insight into these questions. If anyone wants completely point me in a different direction...I’m all ears.

I’m thrilled that there is a community like this. Look forward to making this long journey a reality thanks to all of your help.

@Matt I. Thank you for the advice Matt. Once I get some momentum I’d love to touch base again and see where I can be of help to you on this ride. Best of luck!

@Alina Trigub. Great questions to help me guide my thought process. I look forward to discussing them with you at your next meetup. Thank you for your effort and everything you do.

@Nick Giulioni. Thank you for the feedback. Really means a lot. I’m in the process of looking at multi families in CT. I’m going to need to use an agent if I want to find a 4 unit that’s not overpriced. Any advice on how to get the true financial reports of a property?

To the seasoned vets of Real Estate:  I, like many others, have saved up capital for a year and half post college. 

My question is simple: To invest or not to invest? More importantly, where to invest.

Getting into a scalable real estate business does not happen over night. I have 0 experience other than the forums, books, and articles I've read. But I want to begin my journey somewhere.

My eyes are set on 14 unit and up multifamily deals. (knowing that hiring a good property manager and cash-flowing consistently is more efficient at the larger level deals)

Do you recommend investing in self education and increasing earnings until I can finance/join a larger deal? Or getting my feet wet in a house hack or smaller multi family?

Thank you to anyone who took the time to read and help!