All Forum Posts by: Brandon Hicks

Elizabeth Garcia have you looked into being a limited partner in an apartment syndication instead of turn-keys? It would allow you to be more passive and spread your risk across many units vs one. I’ve never invested in TK’s but can envision so many potential headaches.

Did he have pictures of money on his FB page...I love those moronic friend requests 🙄

They can share everything and you should make sure that is stated somewhere in your agreement with them.

@Andrew Parker

I feel I have ample insurance. I don’t skimp in that area. And I also have a high debt load from buying most of my deals with no and low money down. 

I meant I’d go as big as possible as soon as possible. (It would be so nice if you edit from the app)

Aside from that. I started small with houses and duplexes and then picked up 12 and 16 unit complexes in the past few years. Those 28 units provide way more cash flow than my other 35 units. So I’d go as possible as soon as possible if you’re truly investing for cash flow.

Partial advice...have you considered rolling the Roth 401 over to a Roth self-directed IRA and then use those funds to invest in 2-3 syndications with experienced and trustworthy operators? This would get you some exposure to bigger deals and it would be passive and save you a chunk in taxes.

Andrew Johnson I made the assumption that he could get Fannie or Freddie debt since the deal so big but without an experienced sponsor as a partner that’s unlikely. So I have to agree with you that a 20 is far more probable.

The banks will wanna see the equity of you’re planning on building a large portfolio. The equity is there to reduce their risk of your default and it’s how you build your net worth. With this deal you’d have your $5k rehab plus your acquisition costs (down payment, if any and closing costs). I used to think that all that mattered with rentals was that they had to at least cover themselves. I had a job back then and the cash flow wasn’t “needed” so I looked at it as a bonus. My goal was to do as many deals as I could so that my tenants would pay all these properties down so that I could have cash flow later on. That thinking lead me to do some pretty thin deals early on. They’ve discussed this several time on the podcast. Plan for property management cost upfront even if you’re doing it yourself and so on. The BRRRR strategy is amazing. If done correctly you can create some crazy equity and solid cash flow pretty quickly. If you did ten deals using the numbers I mentioned in my earlier post you’d have created $200-250k in equity (net worth) and likely have cash flow $1500-2000 a month as well.

Revisiting this one....apparently I was having some major comprehension and calculator issues with all of my above posts. I entered 20 years instead of 30 for my last post. The deal looks far better with a 30 year amortization 😋