Intro: CRE Professional Relocating to WI - Cash to Deploy

[Jordan Smith]

Hello all - new to BP and happy to be here. Looking to do some networking and also start some brainstorming. Fairly long post as I am trying to add some value for you (the reader), so here goes:

Background: I have been in living in Denver for the past 9 years, but will likely be re-locating back home to Milwaukee this summer (new job for girlfriend). I will be selling my house, so will have $100k-$150k to invest long term, and potentially another $50k-$100k to invest short term. I'm confident I will leave Denver with at least $250k, but the ranges above are presented as I like to maintain a fairly healthy cash reserve, especially for future "life events" (remember that girlfriend?). I don't have any debt, and my girlfriend will either sell her condo here in Denver to pay off her debt, or continue to use the monthly rental income to contribute towards her personal debt payments. 

Strategy: The long term money will ideally deployed into cash flow rentals (minor renovations are fine) with the plan to snowball into future properties, with the short term money either for a flip (time permitting as I work a fairly demanding job as a CRE lender) or just put into a few mutual funds, as it will likely need to go into my future primary residence to support my girlfriend and our future family.

Goal: Build a portfolio of rental properties so I can "retire" by 45 (I'm 33). From there, either focus on the family, or continue my CRE career as a full time investor. Maybe both!

ADVICE? If you were sitting in my seat, how would you best get into the business while seeking to maximize the return on cash I have available to deploy? Would love to hear what worked for you (or what didn't).

What I Can Offer You: 

1) I am currently employed as a Commercial Real Estate Lender, so I can help offer solutions/ideas to help you obtain financing for your projects. I am not talking about originating those loans myself, but can help with brainstorming a structure that banks will actually like. I have worked on projects as "small" as $1M, up to $100M+ and billion dollar bank group syndications. All product types - multifamily, retail, office, hotel, industrial, storage...the list goes on. 

2) House Hacking Advice: I house-hacked bedrooms for years, it's how I paid for my renovations. I also currently self-manage my girlfriends rental. Happy to offer advice or just have a conversation. 

3) Deal Syndication: Obviously I am a bit nervous to make my first investment, but I'm open to the idea of a syndication. Let's talk!

4) Relationship - I have been very successful as a CRE Lender, and I have done so by being an enjoyable person to work with. This should be fun, let's have fun.

Other Help Needed/Questions:

1) Team Building - if you have a recommendation for an agent, PM, handyman, etc. I would greatly appreciate any suggestions. 

2) Networking - Say hi! Send me a DM! Let me know if there is something you may need some help with, my goal is to add value.

3) Deal Leads - (duh) Recommendations for small multifamily sales brokers? Meet-up clubs? Local websites? Are YOU looking to offload properties? 

Thanks for reading!

[David Mo]

@Jordan Smith welcome home! I currently have a house hack in West Allis and if I were in your shoes, I would start by pulling one off in Milwaukee. That way you can get the ball rolling while you spend some time learning the various neighborhoods and where you want to stay away from. Networking is really important!! Reach out to some realtors who invest themselves and see if you can form a partnership since you have limited time. Best of luck, and feel free to reach out if you would like to connect!