All Forum Posts by: Barri Griffiths

@Jonathan Farber have you tried US bank? I just bought a property in northern Kentucky. And bevsuse they’re based In Vegas as well they were very willing to get the deal done. If US bank has a footprint where you are, it shouldn’t be a problem.

@Tuskey Walker

Hi Tuskey. My wife is a realtor, so I’m a little biased. But I think she’s excellent. If you’d like I can connect the two of you and you can decide if she’s a good fit for you. Thanks

@Andrew Day

On Joe Fairless is podcast they have a series called syndication school which pretty much outlines everything needed for syndication.

@Christopher Nemlich

Hi Chris,

I’m not sure I can properly answer. But I think it would help to clarify more what you’re asking. Are you looking to pool your money together and do your own deal, are you looking to invest in syndications, where you all put money in and decide on different syndicated deals that you get an equal share in?

@Jack B.

Hey Jack,

I think it’s good to look at charts to get an idea of where things have been and where things are going. But nobody knows what going to happen next, and trying to predict will get you in more trouble id say. Buying thinking that the next recession won’t affect real estate is just gambling in my opinion.

As you’ve heard before I’m sure, I’d suggest buying for cashflow, underwrite the deal conservatively, have long term debt, adequate reserves and don’t over leverage.

And I’m not sure where you got the 10% coc number for Vegas. As I don’t think that’s very easily attainable, if at all. In Vegas now I think 6-8% is a lot more realistic.

@Nick Troutman

Hey Nick, I would have to agree with @Ola Dantis

Investing in apartment syndications would be a good way to go. Depending on the deal, you’d get around an 8% return day one, along with a 70/30 split after that, which means that you not only get cashflow, but also enjoy the appreciation as well. Along with the great tax write offs Multifamily provides.

I’ve heard nothing but horror stories about turnkey providers. And IMO they’re not a good way to create wealth. When you buy at market value or higher, you have no equity, and likely won’t create any either, as these are cashflow markets that don’t appreciate. You’re also relying on the turnkey providers for the property management and the tenants.

There are much better ways to invest your money that this. So I’d say spend some time on BP, and look for some other investment strategies. And then if you still think turnkey properties is the way to go....post on here again and I’ll try and change your mind again!haha.

As most people on here, I was looking to house hack my next property. And actually decided that I wanted to do a luxury house hack, as I wanted to upgrade my life. The plan was to buy a house with a casita, as I don’t want any roommates. But I’m realizing to find all the things I want(casita, pool, 2500+sf, area)and get a good deal will be extremely challenging. And I’m not willing to put down a down payment, on a property that I can’t create value with. So the question I have is has anyone ever rented a property with a casita, and used the casita as an air bnb?

I have also considered buying a property with a 3 car garage, and converting one part of the garage into a a casita type area. Has anyone ever had success doing this?

@Mark Gliebe

Hey mark, I think it’s great you’re out there looking at deals, and you’re on here seeking more information. I’m not sure if you’re currently looking to buy, if so I’d suggest you continue learning some more, maybe partner up with some local Multifamily investors, and make sure you have an idea what you’re getting yourself in for. Apartment investing can be a ruthless business, and people will have no problem selling you a junk property.

Also Cap rate is always calculated using NOI, never using gross rents.

And calculating NOI is an art form in itself. And this is a different conversation entirely.

If you’re working with a good broker, they should know what the cap rate is for that area and for that asset class.

You can also use PM’s and ask local investors to find out what the cap rate is.

Keep learning and keep moving forward!

@Steven Kinney just saw this post, and I’d love to hear a little more about your opinion on flint. Seems like they’re could be a lot of opportunity?

@Aaron Bonne I’m about to go under contract on a 6 unit in Covington. I’ve tried PMing you but for some reason it’s not working. Would you mind contracting me so that I can get the details of that property manager you used? Also are you based in cinci? I’m flying out tomorrow, would you be interested in meeting up?

8134652085

Thank you.

Barri