New to Real Estate, lookin for guidance

[Logan Hicks]

Well Hi :)

Subject Line pretty much says it all.

I got my start in the military, received a lot of exceptional training in leadership and business suave. Moved on to defense contracting, and finally started my own businesses.

One of my businesses is a successful landscaping company, and I would like to evolve it into a property management company.

I have spent roughly 4 years studying real estate investing, and I would like to finally move into making my first investments now that I feel that I properly understand the cradle to grave process of real estate investing.

So far I have lined up the following:

-Hard lenders

-General contractors

-Electricians, Plumbers, Carpenters, Floor specialists, HVAC specialists, Roofers

-Mortgage and Insurance brokers

-Attorney

-30+ real estate agents

-Web based database software for investment portfolio tracking

-24x7 call center (intergrated with my landscaping call center)

-Access to Pre Foreclosures

-Access to a Bank that will let me have up to 10 loans

My Strategy:

Purchase price between: 20,000-200,000

Property Types: Duplex, Quadplex, Multifamily, Condos, Room renting

Maximum Purchase Point: 65% LTV, 55% ARV

Minimum NOI: 10% year over year

Locations: Military Presence, DoD Presence, College Presence, Major Job Hubs

20% Cash Reserves of Notes (2,000-20,000 per unit)

8% of value of properties for repairs (4,000-16,000 per unit)

3 years of taxes (1,500-6,000 per unit)

3 years of HOAs (600-1,500 per unit)

Exchange Strategies:

-368 Exchange

-1031 Exchange

Structuring:

-S Corp Parent Company

-LLC Holding Companies

Insurance:

-Standard GL, Flood, Fire, Natural Disaster, Tenant Insurance

-Umbrella Policy

What Im looking for:

Id love to have some guidance that could push me through the crawl, walk, run process into the Real Estate industry. I feel that I have spent a substantial amount of time studying everything I could to understand the most about the industry that I can before I step into the fold, and I feel comfortable moving forward at this point with reasonable expectations. 

Im not looking for someone to spoon feed me realty 101. I would love to have the gaps filled in for what I dont understand.

My current areas of weakness are the short sale process, how EXACTLY the actual LTV, and the concept of value is deemed by valuators, and how to further increase the value on a price per performance basis.

Additional areas of interest are Apartment complexes, and the concept of purchasing reverse mortgage notes.

Respectfully,

Logan Hicks