All Forum Posts by: Austin Works

I am looking into building capital for larger investments. To this point, I have only been flipping for capital, I usually leave all of my equity in my rental properties. However, I know other investors who pull equity from rentals as a way to raise money. I am not a fan of this model, since it reduces cash flow, but is this a viable option for raising money? Or is this more like building a house of cards that will eventually catch up to you since you've stripped your cash flow by pulling equity?

@Dave Foster I am actually sitting on a few offers at the moment, so looking for direction before beginning the closing process for the sale. I will reach out to my CPA, I am just not sure how familiar he is with syndication laws, etc. 

@Andrew Cordle can you tell me more about the investor carrot website? I'm not familiar with this.

@Jordan Moorhead, this actually was intended to be rental. I purchased a four-plex about eight months ago, renovated it, and then had it appraised. Once I saw the amount of equity I have, I decided to sell instead of renting. 

@james 

@James Wise would you mind sharing your strategy? I know Facebook has removed many of the targeting criteria, so what do you target on ads? Do you use other platforms than Facebook?

I have sale proceeds from a flip that I would like to invest into a multifamily syndication - can I utilize a 1031 when doing this?

I currently pursue houses in pre-foreclosure all the way up until the day of Sheriff sale, at which I attend the auction. Many properties are purchased back by the bank, and I never see them resurface on the MLS or auction websites. Where do these go? Should I contact the banks regarding these after they've purchased them back at Sheriff sale?

This is true if you plan on placing the property on a conventional 30 year mortgage. If the numbers work at 15 or 20 years and on commercial interest rates, there are small local banks that offer the option of buying property on a construction loan (where the bank funds purchase and repairs), based on a subject-to appraisal, requires only 30 days of "seasoning", and will allow you to pull your down payment cash back out when refinancing, assuming you will still be below the bank's max LTV. The good thing about doing it this way is that you know up front what the property will be worth, rather than hoping the appraisal comes back at what you assumed it would when purchasing the property. I can't speak for every small bank, but my bank does not re-appraise after repairs are complete, they simply inspect with an internal employee to see that your planned list of improvements was fulfilled.

@Tj Hines I am definitely a self motivated person, but your reply actually triggers another question for me; Are seminars truly beneficial? I've been under the impression that these are geared toward selling mentor-ship programs - are they actually informational?

@John Fortes what should I look for when choosing a syndicator to invest with? Is a sponsor obligated to share their strategy in detail with investors? Or do some share more than others? I'm not at all opposed to this route, it seems very fitting for my situation.