All Forum Posts by: Daniel J.

@Jordan Moorhead That is very true. That is unfortunately not in my list of options anymore.

@Will Stafford What if I got it under contract and couldn't find anyone to help carry it forward?

@Rob Hakes That is very true! Thanks!

@Jean Bolger That is very true! Thanks!

@Shawn Ackerman Thanks! 

@Julie Marquez That is very true, thanks!

@Michael Boyer That has been what my thoughts have been! While I may get that large at some point, i'm not really sure what my end point will be. I am ultimately looking for a lifestyle business, not trying to get to be a billionaire.

@Justin B. The scaling is why I am pursuing MFH, I realize the more you have theoretically the easier it is to cover random expenses, but its a bigger fail too if something goes wrong.

@JD Martin Thanks! That is my overall feeling, and feels more realistic, but I wanted a sanity check from experienced people.

@Todd Dexheimer Thanks! I call it being cautious haha! I must admit the idea of a 5 year ballon in a market where people are concerned about what is going to happen is a bit scary.

@Anthony Gayden @Alisha Decoteau That is certainly not a bad idea, I know of those who have done that. What do I bring to the table though? Why would an experienced investor want to spend their time on me?

I fully realize Cardone is a very polarizing individual, and that’s an understatement. I do disagree with him on some things, I’m not out to build an empire and we will probably always own our own home for various reasons. I do understand though the reasoning behind why he says you should scale up as quickly as possible to mitagate a lot of the costs with sheer volume. I also have my concerns with going from zero to literally 100, or frankly even 25. I have zero experience at this point and so stepping in and using investors dollars at that’s scale seems quite risky, and almost frankly misleading. I wouldnt be intentionally misleading them, but giving them confidence I can pull o off something I don’t have the strong experience in. Am I just scared and Cardone is right, or is caution better?

For some back ground I am located just north of Houston, have financing for the 300k mark working a JV deal. My goal is to start in 2-4 units to get my feet on the ground, and then hopefully jump into the 6-25 range and go from there.

Thanks!

Daniel

@Brandon Ingegneri I will be putting out no money. Is that your question or what's the price difference?

@Christopher Salazar That is certainly true. Funding is not the issue at hand here though. I would rather make some money rather than no money, but I don't want to end up just doing anything to simply make a "deal" happen, when it's really not a deal at all.

I am currently analyzing a 4 plex, and will be working with a partner who will be fronting the money for the down payment and repairs. To get the proper return for him the deal would need to cash flow $400 a month. I would of course love it to cash flow another $400 a month for myself. To gain those numbers I would need to offer 100k under their asking price. To have a higher chance of making the deal happen is it worth sacrificing some cash flow for myself? Or should I stick with $100 a door? I will be doing the PM. If it matters it wouldn't be my first deal and it's in the north Houston area. Thanks!