All Forum Posts by: Damian Leonard

@Sarah ZiehrI'm just trying to do what the guys that are good at it are doing. There are some good people that I have benefited getting to know and learn from. Hope all the deals turn out the way they are projected to. 

@Brian Lacey Thank you! Exactly right. Setting SMART goals is a must! I've been educating myself for over 20 years on this subject. It didn't happen over night. I was a landlord at age 23, and knew real estate was my passion. I also knew I didn't want to be a single family landlord after doing that for a few years. I knew I had to go bigger in order to have the ability to hire professional third party property management. I also knew I had to start out passively to get skins on the wall, to gain experience and see how deals are found and how they are structured. I've found out you need to be a Key Partner in a Fannie Mae deal to then be able to get a Fannie Mae loan down the road on your own. So it is a process, and it doesn't happen over night. It does take capital to get into apartments. I wouldn't try and get into apartment investing if I didn't have at least $50k and you really need to have more than that for a lot of the deals. I think the average minimum ask last year was probably about $50k that I looked at. If you have old IRA money, that can be self directed, so don't think that has to all be cash in the bank. We'll see how it all looks in 5 years from now. Hopefully we'll have done well in these investments and have a good story to tell then, maybe from a beach in the Caribbean somewhere. Cheers!

@Joan C.I couldn't have done this on my own. It is important to find a good size group of accredited investors that you can network with. I have joined a couple different education and mentoring groups in order to network with dedicated and focused individual investors. I think it is the only way to go about seeing so many deals. I've looked into dozens of deals that I could have been a part of over the last year. Ultimately it comes down to how comfortable I am with the lead investor or investors that I partner with. I want to know as much about their character as a person as I can before I invest with them. I'm a key partner and passive investor so far, and looking for the right deal to do on my own. But am happy to partner in the meantime, with savings and or self directed IRA money.

@Alfredo O.Sounds like we have some common goals. Maybe run in the same circles. Would be happy to meetup some time and exchange thoughts and ideas. It is an exciting business to be in. Blessed to be where I am. 

I'm in DFW and have been a partner in 5 syndications over the last year. There is a good mentor here in DFW. You just missed a weekend training event put on by the Real Estate Radio Show Guys in AZ a couple weeks ago. Look up their podcast for some information about it. If you are looking for deals to partner in let me know! We have deals in the pipeline we are working on in several different markets. Regards.

Damian

Partners with money to invest, good management team, good CPA, and attorney. Now just need to find a deal!

My wife and I have saved and invested in the stock market for 15 years. Tired of the up and down anxiety that the market was giving and is still giving me, I decided to make a goal to find out how to get in at least 300 doors. I joined a local apartment education and networking group here in DFW, and was able to meet a bunch of like minded investors, became a passive investor in 5 complexes across three states, and a key partner in a class A in Ohio, and am currently making offers of my own that I will syndicate to other investors. Currently invested in 633 doors, and want to be over 1000 doors by the end of the year. I am doing this full time and trying to retire my wife in the next few years. It is an exciting business, and provides passive income, and a better lifestyle, giving me the flexibility to spend more time coaching my girls soccer teams, and doing fun things as a family. Bigger Pockets has been a great source of motivation over the last couple of years as well. I listen to every podcast. It is all about the team that you surround yourself with. I'm always looking to add strategic potential partners to my team. Connect with me! Cheers!

Any accredited investors in the group that may be involved in apartment complex investing? Just curious who the typical investor is that is going to your meetups? Thanks

Did you end up buying the apartment? Keep us updated and let us know how your experience went!

If you are looking for an educational program that also has a deal analyzer, there are several mentors or gurus if you will that pitch their programs. I am a member of an apartment investing group. We have a deal analyzer through this group.  I can discuss some options with you that I have seen out there, can't give you the one I use but can tell you how to get it. Where is the deal you are looking at? I've wanted to get into the NC market. 

Regards,

Damian