As you likely know from my recent announcement, Source Capital in JV with WhiteHaven Capital recently acquired the Silver Tree Apartments – a 98-unit apartment community in Phoenix MSA. A blog is not the best or most proper venue for discussing the details on a project of this magnitude. On one hand, there are […]
$8.15M Acquisition Closed!
Ladies and Gents, I am very excited to announce that we just closed on The Silver Tree, a 98-unit value add in Phoenix MSA. This was an $8.15M acquisition, requiring a $1.3M renovation. The asset was constructed in 1984, with a great unit mix of Studio, 1×1, 2×1, and 2×2. This was a private placement with […]
Multifamily Underwriting and Personal Growth
I am super excited to tell my story today. I am very proud of the story I’m about to tell you, and I think there are meaningful lessons to be had here for all of us. What I’ve Been Up To I’ve been a little silent as of late. I am sure you noticed. The […]
How to Value a Multi Unit (5+) Investment Property
We buy all types of different property for our investment purposes, including single family, small multi-family, larger multi-family, storefront, storage, parking, industrial, strip-mall, and many combinations thereof. It’s important to understand that while there are positives and negatives to all different property types, a lot of our decision is driven by the realities within the […]
How Much to Pay for a Fourplex Investment Property
In an earlier article “How much should I pay for an investment property,” we discussed the methodology behind estimating value of Single Family Residences. As we discussed, the CMA (Comparative Market Analysis) looks at similar houses which sold, and then makes adjustments to the sold prices in order to accommodate the differences in condition, amenities, size, […]
Should You use a HELOC to Buy Rental Properties?
Recently, one of my Cash Flow Freedom Builders told me that he is considering borrowing $40,000 against the equity in his home to pay cash for a single family rental house. This proposition opens the door to a meaningful discussion which can shed some light on what is needed for you to get ahead financially […]
Make Money Doing What You Love!
Introduction Make money doing what you love – that’s the age old advice. But, how do we really achieve this? Indeed, all of us need money to live on, but most of us would rather not to hate our jobs and be bound by them solely for the sake of income. At the outset […]
Real Estate Podcast – Another Quality Interview
About 4 months ago, or so, I was interviewed by a guy named Mike Simmons. Mike is a Real Estate Investor in Michigan and at that time he had started a brand new real estate podcast called JustStartRealEstate. This show was number four on his podcast, one of the first, but it turns out that it […]
A Unique Conversation with Josh, Brandon, and Ben
Most of you guys know that I am a big time connoisseur of the BiggerPockets.com. In fact, it is highly likely that a lot of you found JustAskBenWhy.com through my profile on BP. Yes indeed – I am a weekly contributor to the BIggerPockets blog and contribute to this incredible community regularly. Today, I am […]
How to Get 29 Rent Checks Out of 28 Units (Case Study)
There is an old Russian proverb which goes something like this: God protects those who protect themselves. Most things in life are outside of our control. I may exercise as much as I want, but I can hardly change my genetic make-up. I can buy organic label produce, but so long as I was not […]
Best Way to Invest in Real Estate for a Newbie
A friend of mine came to visit a little while ago; we went to school together at the University of Cincinnati College Conservatory of Music and he was a groomsman at my wedding. Unfortunately, following graduation and my wedding we went our separate ways for about six or seven years, but as life would have it […]
How to Build Wealth with Rentals – A Case Study
INTRODUCTION I have been investing in income-producing real estate for nine years now. My portfolio currently consists of 28 units which generate Gross Rental Income of about $170,000/year and Cash Flow of around $45,000/year. I don’t flip houses. I don’t wholesale houses either. I don’t do Sub2 or Lease/Option sandwich deals or any other fancy VooDoo real […]
How to Invest in Real Estate Safely
Most of you know that I am a featured writer on the BiggerPockets blog, which means I spend a lot of time on BiggerPockets (not a bad idea for you either). Last week I came across a comment to one of the articles by another blogger, a buddy of mine Mark Ferguson. I could not […]
Was it Worth It to Buy Rental Property?
I am not sure if we are the only ones doing this, but in the Leybovich household we have monthly board meetings. My wife Patrisha is the president of the board. Our white lab by the name of Sladky is the secretary. While kids and I just raise our hands to ask questions, which Patrisha […]