All Forum Posts by: AJ Shepard

@Lisa K Perigo

Bigger pockets has all sorts of ways for networking. Wholesalers are on here all the time so that is a great place to start. Other virtual ways of communicating, I’ve seen groups on Facebook as a good means of finding people. Linked in you can get a good idea of what they do. Just introduce yourself and let them know you are looking. Every wholesaler wants another buyer and every buyer wants another wholesaler.

As for investing in portland and markets that are more expensive I would encourage you to play with the numbers. It may be easier to move the needle than you think. For instance l, say you find a place under the market here for 300k. You see some work needed, maybe 70k worth of work. But after you’re done it’s work 475k. You refinance at 80% ltv and you only leave 10k in the deal. As you look at lower priced houses, the margin for error is much smaller. Either way it’s a lot of work to manage the construction and repairs so that you keep your costs down.

@John Cameron

It seems like you got a resounding No, it's not common to used borrowed funds for EMD.

I will just reiterate, it would be a red flag if a sponsor or general partner would be asking for money for the EMD. We typically see funds from investors go into escrow a week or 2 before closing and then the remaining capital is dispersed from escrow to the company after the deal has closed.

@Kenny Boyd

Sell it and take the gains tax free!

You are a seasoned MF investor, find another 2-4 plex that is built as a rental and save on not having to pay taxes.

If you want something more passive, invest in syndications.

I get that its easy right now, but as you have gained experience your work becomes more of making your money work for you. I’m sure you spent a TON of time developing this and probably have some good memories. It’s time to let someone else make some good memories and you to go sit on a beach somewhere in my opinion. Enjoy!

@Bryan Hancock

To add to the track record, a sponsor also needs to have a net worth capable of supporting the loan that a bank or other agency is going to give them. Many new syndicators “borrow” this experience and partner with people that have been in the business for a while.

Lending partners can also be added to the list.

@Brian Burke

Also wrote the book “the hands off investor” which you should pick up and read before investing in syndications. It’s a great roadmap on how to make sure that you get the most out of your investment with a syndicator!

@Brian Garrett

We’re doing similar to what you are doing but on the opposite coast in Portland Oregon. We run a property management company and find we have an edge on the market in the -60 range as most investors are hiring out PM. Would be happy to compare some notes.

@Melissa D.

Great work! Seems like you’re doing well and should be a great amount of cash flow once you’ve got it stabilized!

How’s you pick your property manager in the area?

@Victoria Knutson

Happy to connect and talk about buy and hold in Portland Oregon! We’ve been doing it here for 10+ years. Prices currently are a little elevated, but deals are out there!

@Mike Edwin

One thing to take into account as well is the lender requirements. Even though you may do your first deal, if you don’t have a track record and net worth requirements that many lenders require you may be partnering or needing a partner for some time while you get started. Best thing is to start making relationships and figuring out how you can help!

@Mike Edwin

I agree with Taylor. Take what your good at and find a way to add value. Having a great attitude is always a good start as well.