All Forum Posts by: Eugene Lee

Hi All,

This thread has been super helpful for me. I've been in contact with @Account Closed, I look forward to working with you. 

Update:

I ended up closing on 1/28. Yay super exciting. One property had a signed lease before closing and the other did not. I was blown away by the responsiveness of their team on the back end. Investing is a long term game; let's see how their PM does! 

As far as who I am working with; please PM me. 

I'm in a similar boar as well. Would love to hear the rationale one way or another.

Hi BP,

I've read so many good things about syndications but am a little baffled as to where to find them. Is there a website, syndicationsrus.com or? 

I'm guessing due to the relational aspect of the business, it may come down to who you know. 

Your thoughts would be greatly appreciated! 

Hi BP! 

So I'm in the process of identifying real estate markets I'd like to be in as of 2017, and I'm running into, not an issue but something I hope will be an interesting discussion. I currently reside in San Diego in UTC where we have ucsd (go Tritons, still undefeated) as well as Illumina, a large provider of DNA sequencers. Illumina I swear builds a new building a year and Ucsd is so packed that the joke is that we might get quadruples in our dorm rooms and as a result, I'm seeing the opportunity of rent and appreciation gains in the immediate area. 

I'm wondering how similar is this mechanism for other, out of state areas. For example, FedEx out of Memphis, TN is absolutely killing it (thanks Amazon!) and I'm bullish on the transports over the long haul. The thing is though, because I'm not there, I'm left to resort to economic and population forecasts by "expert analysts", which I'd rather not rely on too much. In that sense, how valuable of a metric would you say is following the movements of large companies in order to identify upcoming markets? 

@James Wachob I'd like to be in those two areas, the B to A- range neighborhoods if you will. I figure that the higher property price buys me higher quality, longer term tenants which would decrease in the vacancy and maintenance exists in the long run. I am definitely open to properties outside of those areas though! Just no Frayser ;)

Cashflow four rentals

Hi all,

Reviving this thread for update number two! 

I recently got into contract for two properties with a turnkey provider in Memphis, TN putting to work slightly less than half of the capital that Id like to put to work in real estate. The properties are in Bartlett and Cordova and should cash flow about 100-150 a month with a 12% set aside for maintenance and capex and 10% for vacancy, both of which are super conservative. I'd be happy to disclose over PM. 

Both properties have been inspected and one property had an older roof that the company has agreed to replace for free. That's awesome!! We're looking at an early closing on this one :) 

The second property had an older water heater and siding that needs to be replaced or at least repaired. Will keep y'all updated!

I'm looking at some other cities to diversify my investments and also am in the process of vetting other providers to work with in the future. I have a short list of candidates in mind :)

Please fell free to reach out with questions or comments and I look forward to hearing from you all. 

Hi Dan,

The maintenance number and capex estimates look relatively low. Many like to use 10% of rent for that value, others at 185/month and still others 1 dollar per square foot per year. Hope this helps. 

hi all,

That was fast! Thanks for the input. I was under the impression that if an account or holding was under my name only, then it would be so after the fact as well.

So for the sake of argument, if a rental was generating cash flow and said cash flow was used for something during the marriage, it would be community while if no cash flows were used for anything during the marriage, would it be communal property? Dang that's trippy.

- E