All Forum Posts by: Chris Jackson

@Shawn C.  sure PM me

@Shawn C. is correct, you should check out your local REIAs and just mingle and get to know people.

@Shawn C. wholesaling and SFR / small multifamily investing are different business models.

Both have their advantages and disadvantages. 

If you said wholesale because you need some 'faster' cash that's also ok.

Just know that take all of those business models take laser sharp focus in each discipline to really get traction.

Bouncing around business models is the sure fire way to get frustrated.  If you have associates that you said you saw do a deal, why not take them to lunch.  Ask them what they are looking for in their next deal.

Also ask yourself what are your strengths and weaknesses. Being honest with yourself and if you feel comfortable sharing the results of your inner question asking session, share them here.  

Someone that has some construction background and has more of a thrill seeker mentality might be really bored with stabilized B class multifamily deal acquisition process with a 10 year hold strategy.

Someone that really cant handle the sleepless nights of 50% vacancy or better yet 100% vacancy really shouldn't be looking for to the stud rehabs of a 20 unit with a hard money loan that needs to be refinanced out in less than 18 months.

Are you a data guy?  Can you market like a beast?  Maybe thats the move and then you can wholesale whatever you want.

Are you a people person that just loves breakfast, lunch  and dinner meetings and is a 'connector' you can bring people together and get a piece of the action if done correctly by all parties.

@Brent Coombs  That is actually a garage.  Was a good selling point for us to get a great tenant with a car.  Roll in from work during the rain and walk up dry to your house. :)

@Brent Coombs I agree one should not substitute quantity for quality.  

Which property are you referring to in the pics with a converted garage?

@Jon Q.

You are correct. However we would not be continuing to build our SFR portfolio if the numbers were not shaking out for us.

SFRs normally do have higher risk for a capx and/or vacancy event to create 0 or negative returns for the year. We try to mitigate those risks as best as possible on purchase and capx portion of rehab. In our case quantity helps us because of our strict purchasing standards. If one of the SFRs does exhibit subpar performance it is lifted up by another SFR that is performing beyond expectations. That's where more of a multifamily lens is applied.

Appreciation is not depended on in our model. We are more long-term. After refi, principal paydown is our friend and helps mitigate any potential future decrease in value.  Appreciation is certainly welcomed. :)

Would be happy to discuss the number granularities through direct communication channels. 

@Jade S. thanks.  We are at 14 SFRs already. But the first ones took a bit longer and more spread out as we were fine tuning our system to be able to handle the pace we are at now. The 4 in 4 and 8 in 8 which was just really 4 more 4 in 4s is just a way to produce predictability.  Now we can project how we need to get to 30, 100 

Our multifamily experience has really helped us here.  We are experienced multifamily owner/operators for years adding a new model to our portfolio and opportunities for our investors in search of solid yield.

@Garrett M.  systems and teams.

By systems I am not referring to some SaaS solution you buy and then evs is alright and humming.  A system could be a paper and pencil, as long as your system organizes a lot of activities repetitively which allows you to handle more volume.  You need to be able to have a system of organization that allows you to scan lists of things and move items, properties, to-dos into various other prioritized lists.  

Whats in the pipeline?

What happened to these offers?

Where is the rehab number on these 4 properties?

Do we have an investor lined up for the next 2 properties?

Do we need to market more for more properties, more investors, more bank conversation for refis?

Is the LLC created for that property closing in 2 weeks?

Is there a renter lined up for the property that will be reno'd in 2 weeks? 

Is the water turned on for a vacant property? 

You can say "oh shouldn't the PM handle that?"  but come on thats not fair to them, when you are closing 8 properties in 8 weeks all with various level of rehabs you need to be johnny on the spot for your PM too.  Is the water authority ready with the auth forms, yes/no?  

Need a great team to execute all of these tasks.  That takes time.  Workload distribution and accountability.  

@Eric Moehrle  thank you. We are financing these with both personal funds and mostly private debt investors.  We also have a hybrid equity/debt investment model which I believe to be quite unique to our company after speaking to some folks in the industry.

The holistic approach is pretty much a BRRRR model but with a few unique twists we add for some sizzle unique to us. :)

@Bryan Blankenship  thank you.  

Thanks @Grace Jordan