All Forum Posts by: Alan Zee

@Jason Yarusi

Hey Jason, How’s your experience with All trade so far? Are they managing all your assets in Louisville?

@Dave Foster Hi Dave, if I have a duplex in NYC with significant equity, and I want 1031x into a larger multi-family- do I need to exchange all of my sale proceeds or equity? Or can I "withdraw" 100K and deposit into my bank, and 1031 the rest? 

If the duplex above is held TIC with my sister(personally held), does the new property need titling to be the same or could be a LLC with 2 of us be members?

What do I need to watch out for if I want to do a reverse 1031? 

Also, can I 1031 1 duplex into 3 or 4 single families  in another state  -spread it out evenly? What type of fees do you charge? Thanks in advance for your advice. 

Hi, can anyone speak on the rental requirements of the DFW B/C class properties in regards to security deposits? I've been seeing alot of $100 or $200 security deposit when the rent is $1000. Is this common in Texas or DFW?

Hi, can anyone speak on the rental requirements of the DFW B/C class properties in regards to security deposits? I've been seeing alot of $100 or $200 security deposit when the rent is $1000 for 30-100+ unit size apartment complexes. Is this common in Texas or DFW? 

Hi, can anyone speak on the rental requirements of the DFW  B/C class properties in regards to security deposits? I've been seeing alot of $100 or $200 security deposit when the rent is $1000 for 30-100+ unit size apartment complexes. Is this common in Texas or DFW? 

@Charles LeMaire

Hi Charles,

thank you for your answers. I have a few more on Brad’s program. How many members would you say are active in the community currently? Both Foundation and PS level. Do they attend the same networking events? Are these events all in and around DFW?

Is there an online community as well? Ie Facebook group? Private online forum for members to share deals and raise money?

Also, do you think it makes sense to join when I’m currently in NY? I will be moving to Frisco next year, so do you think I should join now or wait until next year when I’m in Dallas? I appreciate it. Thanks

Alan

@Michael Le

Hi Michael, I’d like to get some feedback on the Sumrok program as I am thinking of joining the Foundation. When did you attend Brad Sumrok’s course? Was it foundation or 1on 1 mentorship?

Also, can sort of deals where you doing before his program? After his program? Are you still a member?

Thanks for your time.

New York City and CA are 2 places( among others) I would stay away from as a RE investor in today’s market. Low return and high regulation.

New York just passed the Housing Stability and Tenant protection act of 2019 making it harder for landlords to evict bad tenants and raise rents. Too many liberals here(NYC) wanting low income housing and not giving a crap about business owners and landlords. The same people that pushed out Amazon HQ2.

High regulation, low returns so I’m actively looking elsewhere to invest. You can keep your condo in Newport for appreciation, but what’s your financial goal? Does the condo appreciate indefinitely? Trees don’t grow to the sky in my opinion. The appreciation in coastal cities like SF, LA, NYC has peaked imho.

Not to mention your ROE is less than 1%.

The returns in 2019 has been disappointing. Yielding less then 6% annualized on the income side. No appreciation as of yet.

I’m in contact with a few syndicators. Ashcroft seems very aggressive in their deal making. I get emailed 3 new deals in the last 3 month. One in Plano, 1 in Jacksonville and 1 in Orlando. This while other syndicators have been very quiet. Obviously, we are late in the investment cycle so not sure what to make of it. Is Ashcroft overpaying for assets? Are they focused enough since they are juggling a lot of balls. They have been raising money and doing deals fairly recently so they never been through a down cycle. Anyone else with thoughts on Ashcroft?