All Forum Posts by: Chris Soignier

I'm relatively new to it, but MFR is all I do, as a passive investor for now. I've been very happy w/ the results of my first deal that closed in June last year, and am invested in 2 more deals which are expected to close this month and next month. Compared to SFR, cash on cash yields aren't as high, but appreciation potential is significantly higher, and I don't have to spend much time on it aside from due diligence on the property and reading/agreeing to the terms of the private placement memorandums and operating agreements. I am getting more involved that that, however, b/c I want to continue learning as much as possible about the business w/ the hope that I'll be ready to take on a property as lead investor within 5 years.

I'm not an attorney, but I don't think you'd be able to transfer ownership to the LLC w/o liquidating the mortgage or getting the bank's permission - and what motivation would they have to transfer the obligor from you, after having undergone rigorous underwriting, to a new LLC w/ no operating history or credit rating?

As long as you're not living there, it's all about the numbers.     If the #'s work, and you're confident in them, go for it!

@Glenn McCrorey - congrrats!      I got a later start, but am trying to make up for lost time.   Hopefully I'll be there in 4-5 years.

Just a few team members you many need - this is not necessarily a complete list:

- I recommend you obtain experienced due diligence help if your team isn't experienced in it

- lenders/mortgage brokers

= investors, unless you and other founders will fully fund the equity

- GC's/contractors for rehabs/upgrades

- landscaping company

- property management

- accountant

- lawyer, esp. if seeking outside equity investors

- multi-family brokers

- insurance broker

I'd start by networking w/ other local property owners and MF brokers.

I just started investing in 2014, and have 2 pending MF deals plus another prospective one that should make 2015 much, much better.

Last year was dedicated to learning. I invested in a successful MF property, and wasted a lot of time (and a little money) pursuing SF homes. I'm now focused exclusively on MF for now, though I'm contemplating investing in secured lending via my IRA funds.

I'm interested, though I often have scheduling conflicts on weekends.    Weekday evenings are better for me, but will try to attend to the extent I can.

@Jeff Garrett , welcome to BP!   I work near Roanoke if you ever want to meet up for lunch.

 But you still have to pay the same taxes on a condo.    Condos just seem like a hassle to me, and the fees can really hurt when the property is vacant.   

Welcome @Chauncy R!    I'm a fellow PIG @ Lifestyles, hope to meet you there sometime.

I'm curious what you get or perceive getting out of Brad's program beyond Lifestyles, since it seems like I've noted a few investors lately who work w/ both LU and Brad.