All Forum Posts by: Brian Briscoe

Out of town this week. Hope to be able to attend in March!!

Oh, And thanks @Yonah Weiss for the tag. So great meeting you in L.A. 

What’s your risk tolerance?

I have 5 kids and my risk tolerance where my kids are concerned is low.  I’m building my business with a full time job and started 3 years before I plan on retiring (I’m active duty military). That gives me plenty of time to build up my business and brand to have replaced my income...


Maybe you have a higher risk tolerance. Just ask yourself “what’s the worst that can happen?” If you’re okay moving back in with your parents or crashing on a friends couch if it takes longer than expected, then maybe you quit and go full time.

I’d definitely build my business faster without commuting back and forth to the pentagon every day.

Why yes we do...

So, there is some increased risk involved because the company will want to place their own people in your units, so depending on how the lease is structured, you may lose some control on tenant choice. On the other hand, most companies will pay rent on time without fail (and sometimes with a small premium). We build a clause into the contract that the company is liable for all damages and upkeep in the apartment, so if the carpet needs replacing, they pay to replace. We also have longer-term leases with built-in annual increases.

Of course, companies have financial struggles just like individuals, so you need to properly vet them just like you would an individual.

@Blake Edwards

TSP is like any other qualified retirement plan when it comes to distributions.

You can only roll funds over after separation from the government (also similar to employer sponsored plans).

@Anthony Gayden

TSP... I used to really like it. Now I wish I had my money in a more flexible IRA. Can't wait until I can roll it over. I don't get government matching though... too old for that.

I’m only paying in because I have an outstanding tsp loan that I want to pay off before retirement next year to avoid a 1099.

Investment Info:

Large multi-family (5+ units) commercial investment investment in Spartanburg.

Purchase price: $4,000,000
Cash invested: $100,000

B-Class asset in downtown Spartanburg which is dominated by A-Class multifamily units. Will add value by renvoting interiors and increasing curb appeal.

How did you find this deal and how did you negotiate it?

Through Furman Capital Brokerage

How did you finance this deal?

Fannie Mae loan from Arbor

How did you add value to the deal?

Renovating interior of units.

What was the outcome?

Higher rents in renovated units.

@John Casmon

I’ve done several Michael Blank events and will keep going back....

@Liz Brown

Following...

I’m a SLC native currently living out of state....

@Kameron Holloway

I had a SF rental in SLC for many years. It’s value went up significantly in the last 3-4 years, so I sold and made a boat load. I considered SLC for multifamily, but I decided on other markets because it seemed like the competition in SLC was buying off of the premise that rents would continue to grow at >4% and values will continue to increase at the rate they have over the past few years. My outlook isn’t as rosy.

Bottom line, SLC is my home town (Go Utes) and I’m investing in the Carolinas (my wife’s home town).