All Forum Posts by: Brandon Roberts

Nice work @Seth Brown!

Also look into AG Rentals and Management (ask for Ed) and DBD Homes (ask for Tami). They are both phenomenal as well! 

Originally posted by @Shia G.:

Hi team,

I am from NY and I am being offered a rental property in Fort Wayne IN.  Although Fort Wayne in general sounds like a good market, the subject property is located in Hanna Creighton and from the online research I made it seems to be a rougher neighborhood.  I am wondering if that is really the case and if anyone can provide feedback on that sub-market if it's an area to stay away from or is not that bad as some people make it sound online.

I really appreciate it.

Shia

Hi Shia,

I have a property on Creighton that cashflows great and the tenant has always paid on time with no issues. It is a little bit of a rougher neighborhood so it deters some investors, but the properties there tend to cash flow very well. Just be sure to set aside a little bit more money for repairs and maintenance because most of the properties in that area are very old. Let me know if you have any more questions! 

Brandon 

Hey guys! 

Yes I actually found out a little bit. Every Broker/Dealer is different, but here is what mine said is okay:

1) Properties purchased through conventional mortgages are fine. 

2) Promissory notes from intermediate family are fine.

3) I can use private equity if it flows through an LLC that I am a part of. So essentially I formed a partnership with the private equity investor, and as long as we can prove that he has some activity in the business, he can invest as much money as he wants with me.

Right now I believe that is all I can do. My partner and I are exploring other ways to invest (if he signs off of the private equity loans and we run them through our LLC is that acceptable?) but we have enough capital right now so we're not in a rush.

Hopefully this helped! Let me know what you guys find out. 

Cheers,

Brandon

Originally posted by @Mike Terry:

Molly,

Take a look at Fort Wayne, Indiana.  Very affordable.  Lots of houses for 40 to 100k.  Lots of 1% properties.  I am in the same boat as you, trying to build a rental portfolio and found this market by some articles as best places to become a landlord.  Good luck, please let em know if you have any success.

Mike Terry,

Very true! Im an investor here in Fort Wayne and although the market has become tight these past few years, there are still plenty of deals that surpass the 1% rule. Please reach out if you have any questions! 

Congrats Matan! Welcome to investing in Fort Wayne

Originally posted by @Fred Ewert:

@Brandon Handel Thanks, I will check on this. There are surely some conventions that happen at Grand Wayne Center that might attract people. Also, things going on at the Coliseum. Too bad there isn't a sports team like Notre Dame there. Though I'm sure many come and stay for IPFW graduation.

Hi Fred! Yeah Fort Wayne definitely isn't the vacation capital of the world however like Brandon said, there is a high demand for rentals here because the price-to-rent ratios are pretty solid. 

The Facebook group Brandon was talking about can be found here: https://www.facebook.com/groups/1910999142486622/

Let me know if you need anything else! 

I have loved working with DBD Contracting here in Fort Wayne so far

Congrats Michelle, keep doing big things! 

Alright everyone my business may have just hit a huge roadblock...

I recently started a new job where I need acquire my series 7 and series 24 investment licenses. I won't be using these to sell, just to audit other brokers. Last week it was brought to my attention that if I want to continue to invest in real estate I will have to do so through conventional mortgages only. Private equity backed by a promissory note is considered a “bond” which is considered a "security outside of my broker/dealer's control” which is a big no-no if I am registered with them. Does anyone know if this is true or not? I am thinking I can just not have the equity backed by an official note (the people who would be investing with me are a close friend and my family so they trust me) and that would be okay, but I am not sure how un-documenting this large sum of cash would mess with FINRA’s regulations... Or the investor could buy the property, refinance it and hold the note with the bank while transferring ownership over to me? That being said, I am also being warned to stay completely away from being involved in the transaction because any association with my own personal real estate (bought outside of conventional mortgages) is in violation of FINRA's rules. Has anyone run into this before or know anyone who has their licenses and still invests in real estate without using conventional mortgages?

Thanks in advance for your help!