All Forum Posts by: Caleb Bryant

@Lindsay G. First of all, congrats on getting set up to invest! I was in a similar scenario as far as cash to invest at one point as well but my income was much lower than your yearly so keep that in mind. I did a mix with my cash as far as strategy. I put a couple hundred G’s into syndications as a limited partner (I had no active involvement in the deal beyond getting the sponsors and the property). The cool thing about this strategy is it may (talk to your cpa) help you offset some taxes from your income, all while providing cash flow with a pop of cash at the end of the deal. I also did some private lending with some of the cash with local investors. This is a little more active just because you want to make sure you’ve looked at other projects they’ve done, know their reputation, etc. Then finally I also invested in a couple of joint ventures with other investors to own smaller multifamily. I wanted this in addition to the syndications to have more control and to have an opportunity to learn more about how the operations of a deal work. Hope this gives you some ideas to move forward with!

 I'd second Madison County, AL. It's also not too far from you in ATL if something were to go wrong. 

Great feedback! I'd add on to number two that when doing google street view, pay attention to the dates the pictures were taken. There are areas in Birmingham, Alabama where the street view photos are 10+ years old and the neighborhood looks significantly worse presently. If the dates aren't close, have someone local take video or a Facetime call through the neighborhood. 

Also to OP, @Walter Pineda, Section 8 here can be tough to deal with, we've had issues where it took nearly that long to get the info we needed. I'd make some attempts yourself to try to speed along the process. Depending where the property is @Dena Puliatti may be able to help as she places plenty of section 8 tenants and has a good relationship with HSV and surrounding area officials. 

The lease will stay in place unless you have a clause stating otherwise. You can sell it with a lease in place though so that's not an issue unless you're trying to sell to a non-investor. Above mentioned buyout sometimes works as well, we've done that plenty of times when purchasing a property like yours. The plus about letting your manager sell it is they have a list of investors with properties they already manage, so they have a pulse on who wants to buy/build their portfolio, what investors are paying, and who the good investors are. If you list yourself there is still a chance you will pay commission to a buyers agent, I'd let someone help assist with the sale personally. 35803 is a great area so good luck with the sale!

@Garrett Groener hey Garret, I’m not from the springs but I am hitting the CSREIA meetup tomorrow (Tuesday) at third space coffee at 6:30, may be a decent spot to check out!

@Christian Requejo for Jake and Gino specifically, just go to their event in November and you’ll start to understand a ton of the ins and outs. They are great guys but also have a great community of people who are happy to help when possible. It’s a much smaller investment to hit a conference, get all the basics down and then have a clear idea if it makes sense for you to join a mentorship.

@Antonio Coa congrats on building up a solid base! I was in a similar position 5ish years ago. I decided to do several things. I put 200k into syndications, 2 separate deals. I had already networked in the RE space a couple years at this point so I knew a few solid operators that I believed I could trust. This gave me the experience of seeing investor presentations, looking through underwriting, verifying underwriting (calling PM’s, brokers, secret shopping, etc) and also being able to see how GP’s with investors. I also wanted to get involved actively so I found someone who had a 71 unit but still needed some money raised. I helped them get that deal across the finish line and got to be more active (it was a joint venture project). Lastly from a real estate investment standpoint, I did a couple of private money deals for local fix and flippers/investors. Some of that money also ended up going toward extending my networking efforts by going to conferences, and some coaching in the wholesaling space. Obviously the landscape has changed from when I was in a similar position but hopefully this gives you some ideas! e

@Leeor Kanor welcome to Alabama investing! I saw you mention calls (I’m assuming cold calls) and text messaging. Make sure to scrub your lists against the do not call list. This will potentially save you a few thousand dollars. I’m also an investor and wholesaler here in Huntsville so you’re welcome to reach out!

There are sooooo many ways to acquire or control a property without using traditional lending, sub-to, lease option, private lending, joint venture, owner finance to name a few. Still think you're right to focus on your financial advisor business but you can be learning about any of these techniques in the mean time as well as getting strong traditional lender contacts. 

Literally just did this in Huntsville. How big is the property? Depending where it is I may be able to help