Hi. My name is Bill, and I’m considering getting into multifamily investing. I’m talking with Mike Paschall, who has been doing this for years. Has anyone done a deal with him? He usually only puts 4 to 6 people together to raise the down payments, then puts a commercial loan on the property. He puts together deals involving 100 units and above on multifamily properties, and is always one of the investors with his own money. He won’t buy in any war zone areas, says he does better in B & C type properties. Mike seems to really know his stuff. Does anyone else have experience in these areas? I’m excited yet nervous about this venture. thanks
Where is Mike investing? If he is doing so at some distance, how does he handle the management?
Assuming he does invest at a distance and you want to invest in a deal, I would lean towards a city where he has established business. That way you can leverage what he already has in place rather than investing in a city where a new team has to be built.