All Forum Posts by: Cooper Marcus

I have only some recommendations from other Reno investors, and a couple of in-person meetings, to go on - so far, I like NCS (Nevada Commercial Services) a lot. When I have property to manage in Reno, I intend to call NCS first. @Dusty Cady your experience is certainly concerning - if I get closer to hiring NCS, I'll reach out to you privately to hear more.

I've been hearing good things about grey colors in rentals recently. I'm rehabbing a couple apartments currently - I'm going to paint them all white (not Swiss Coffee, I think that color is now old-fashioned) with white kitchen cabinets and grey kitchen counters. 

When two different financial / tax advisors encouraged me to look at solo IRA or 401(k), I figured they both can't be wrong!

I spent the weekend visiting lots of websites and reading lots of content. I'm down to three providers that I think have the best educational content, the easiest ways of working with them, and good reputations:

* RocketDollar https://www.rocketdollar.com

* My Solo 401k Financial https://www.mysolo401k.net

* IRA Financial Group https://www.irafinancialgroup....

I'll post an update to this thread once I choose one and go though the account opening process.

Can you explain how you got to $0 cash invested? 

I'm born, raised, and had most of my career in San Francisco - and I've spent many years in a variety of... unusual office working situations. There are a number of low-profile co-working spaces in SF that are very low-end - I worked in one that had no heating or cooling, and it got very hot and cold (but it was cheap!). I visited another recently that was rather beat-up, but quite cheap (Anchor Coworking in SF). 

The creativity I think you could bring to this is simply avoiding expensive interior remodeling - just find a cheap space, fill it up with thrift-shop desks, get the very best internet (don't skimp on that :), and rent desks cheap!

Hi @Danny Reed - I'm a San Francisco native and fellow real estate investor. Tell us a little more about what sort of investment project you are seeking, and maybe why? You mention buying a SFH, fixing it up, and renting it out. What about 2-4 units? Will you "house hack"? What markets are interesting to you?

@Wayne Snyder I'm guessing you are underwriting at the asking price - correct? If so, how about picking out the properties you like the best and start sending Letters of Intent (LOI) at purchase price and terms that do make the deals work for you? You won't know if you can get them under asking price unless you try!

I extended an LOI to a seller (via my agent and his agent) of a 6-unit MFR, and my LOI was rejected because I did not offer to pay the asking price (I offered about 6% under asking).

The asking price is too high given "conventional" deal terms and my underwriting criteria (which aren't crazy) - what sort of creative terms could I consider offering as I underwrite again at the full asking price and draft a new LOI?

Have you checked out ZeroDown.com?

I explored setting up my own OZ fund and I found lawyer John Monley at Murphy Austin in Sacramento, CA - he has set up a few funds, consults on others. He may be helpful to you.