All Forum Posts by: Dan Engberson

 Thank you Jacob.

 Thank you!

Thank you both for the excellent advice!

I'm looking to move from SFR investing into multifamily, specifically commercial multi family in central Florida. I know my strengths: deal finding, spotting potential, bringing people together. I also know my weaknesses: lack of experience in MF, zero experience with underwriting and raising private capital. I'm hoping to find a partner with whom I match up well. I already have a fantastic agent and lender and I know potential investors, so when our team is complete we can definitely make some things happen.

Cheers! 
Dan

I'm not an expert. It's my understanding that you can now buy up to a four unit as a primary residence with a Fannie Mae/ Freddie Mac/ FHA loan. So you could rent out your current residence, buy a fourplex for 5% down, move into one unit and rent out the others. After a year, move back into your current residence and rent out the quadplex. No one will check that you moved, but if you buy it as a primary residence and don't move into it you've committed mortgage fraud.

I hadn't discussed DSTs with him. I'll do so, thank you. His primary concern is avoiding taxes so I think he'll like that idea.  And I'm always down for reading another RE book so thanks for that!

Really great info everyone. Thank you a ton. He's actually pretty fired up about the new possibilities.

More great advice! Thank you. I apologize for the redundant thread. I'll try and use the search function to gather more information. 

Very good advice, guys. Thank you. 

Outside of CA is surely better. If you have something specific available can you post the details here or DM me here? Thanks!

My father is selling his rental home in CA. It should get him around $500k. He is nearly 80 years old so he wants to simply put it into a safe investment like a bond, CD, etc. I am trying to convince him to put it into real estate. However, even though he did not manage his property himself he still had to deal with it sometimes and now that it's vacant he would have to get it ready to re-rent. He has no interest in having to deal with anything like this anymore. At his age he's more interested in having no headaches than he is in ROI. So here is my question:

Does anyone know of good turnkey providers that have inventory available? I'm on the waitlist for several and have been for months, and he will need to pull the trigger on this in the spring. Also, the provider needs to pretty much handle everything so he doesn't have to. 

Could anyone make a syndication recommendation? This might be ideal since my understanding of syndication is that it is totally hands-off. 

So that's what I'm looking for: a place to put his $500k that will cashflow, appreciate (although this is less important than cashflow), and he can be pretty much hands-off. 

TIA!

Dan