All Forum Posts by: Austin Johnson

man, if your taxes in Houston are more than vacancy, maint, and cap ex y'all in trouble.
I'd call the county assessor's office and ask what the tax bill is currently and if it will be changing. (if the seller has made changes and it hasnt posted yet) 
yes, absolutely the 35% is rough! it's a rule of thumb. never purchase based on run of thumb. use the rule of thumb then adjust 1 by 1 to fit the actual picture. so use 5% as a rule of thumb, call the assesor and find out the actual. adjust it. 
use 5% insurance, call an insurance agent and get an actual. 
use 5% vacancy, call a local agent and get an actual. 

honestly, I would venture into a network of syndicators and network with them. learn and grow. 
I'm part of a group that is free for the first month (and a massive payment of $40/month with no contract after the first month).
get in a group, meet people, read their input and what theyre doing. then apply it to yourself. ill message you more information as well. 

I'd speak with a syndicator and see what your options are as far as being passive and making a massive return. I'd be happy to talk!

in addition to the comments above, depending on the size of the endeavor you're going to need a team anyway. (unless your plan was to rehab it, manage it and operate it yourself?) why not build out a team now or partners? 

rule of thumb is 35% expenses.

10% PM 5% Maint. 5% Capex 5% vacancy 5% insurance 5% taxes.

if the numbers looked solid, then you find actuals. [call for insurance quotes, factor the real vacancy rates, figure cap ex via inspection,get PM qoute, etc)
the first thing I would do is find the actual taxes owed per year/month. you're paying more in taxes than you are in all other expenses? is this located in Commie-fornia? 

finding deals in Detroit in theory wouldn't be hard...regardless why accept a headache when you don't have to? 

what size multifamily? buy yourself or buy with a group of people? active or passive? depending on your answers i can direct you easier. i'm in the med-large multifamily field myself so this is my bread and butter

as previously stated, which topics? what are you wanting to learn and hoping to gain from these bootcamps? people will sell you 'bootcamps' till the day you die. same with 'masterminds'. if you dont have criteria of what you want to learn or gain, its a waste of time. 

@Eric Hempler inflation isnt 3%... it's near 8.5% per the last update.
a CD is a stabilized investment with no downside. I'm certain we can all agree real estate has potential downside. this puts massive risk to the investor vs a cd. the more risk, the more return.
Stock market average is 7%. I can put $100k into the market and get $7k return on average. why would someone risk more for the same return with a new investor? this isn't meant to tear down the idea. in fact I'm 100% in favor of syndications. it's to say raise the return to investors. 
you want to raise the equity needed for down payment. then promise those investors a set return on their investment and use the property as collateral. dont try to reinvent the wheel with a very dated book.  there are thousand upon thousands of successful investor that came before both of us. if this avenue you speak of was feasible, it would already have a catchy name to it and be popular.