All Forum Posts by: David Toupin

This month we are going to feature for the first 30 minuets attorney Tobias Lipski, with one of Michigan's most respected and largest real estate law firms. Schneiderman and Sherman PC. Tobias will be spending time discussing and answering questions on the various title issues involved in real estate investing and how to cure them. Tobias could be considered one of the Top authorities on title issues and resolving them in the state of Michigan. He charges over $300 per hour for this advice, you are getting for free . Dont miss it!

All are welcome!

Come with questions, or bring deals you want analyzed. We will coach you through what ever questions you have about real estate investing. From residential to commercial. The goal will be to help you build your business or get started in the business. Though it is a group coaching session and we may not get to everyone, you will certainly learn by simply being there.

We sill start on time sharp! You will find I am very disciplined and you must be also if you want to build a successful business. Please get there early, if you stroll in late you may distract others.

*To learn more about our group I encourage everyone to read the About Us Page real quick.

*The session will occur in the large conference room directly across from our suite.

@Owen Rosen Thanks for the offer. I will keep you in mind on future deals.  We are not under contract on that deal anymore due to things that came up in the DD period.  

@Gerald Grinter @Andrew Johnson Thank you both for your helpful input.  I agree with all things said.  

@Jason Bott it was a 44 unit built late 1960's or early 70's.  Not in the city of Detroit but in a C area in Metro Detroit.  The final quotes actually came to around $18-20k for GL and property coverage. But, an insurer who we have a close relationship with told us that even a small claim could cause the insurance company to back out and we would be forced to go with Michigan Basic or some other insurer and pay up to $60k in premium.  Not worth that risk for us.

Fortunately/unfortunately there were other items that came up during DD that forced us to try to renegotiate and we were unable to reach settlement on terms with seller.  It is okay with us we are not looking to overpay so were glad to back out.

Thanks guys.

@Fady Fareed  Thanks for the kind words!  Glad you are seeing value in ours and so many other great meetups around Metro Detroit.  Look forward to seeing you again next month.

Getting quotes on the apartment buildings we have under contract right now.  The General Liability quotes are ranging from $15-18k and one at $25k.  

With full coverage for flood, fire, quake, etc we are looking at about $60k premium per year because of the age and the area it is in, which completely throws off our numbers.  

What route do most of you typically take, and what is standard for apartment buildings?

Thanks,

David Toupin

My partner and I are in the market for mid to large size apartment complexes.  We are looking for 80+ units primarily, and in primary or secondary markets in Michigan. Mainly B areas. If you know of any properties or are looking to sell your own we are interested in purchasing.

We have access to in house capital that we are looking to allocate.  Please contact me at [email protected] if you have something.

Looking forward to connecting!

David Toupin

This investment is open to accredited investors only, as defined by the SEC (506-C).

Hi BP Community,

My firm placed a 44 unit apartment building under contract in Oak Park, MI yesterday. $150,000 of the $825,000 needed for this investment has already been committed. Additionally, our firm is committing up to $150,000 of our capital to this deal. We are looking for investors to raise the remainder for the down payment, initial repairs, and closing costs. We have very attractive seller financing terms on this deal making it a great cash flow machine for investors. No debt payments or interest for first two years, then managers will refi building. ROI is very attractive in first two years and averages 13-16% for years 3+.

Anticipated average annual ROI/Cash On Cash Return: 15.65%

• Year 1 Investor Cash on Cash: 16.94%
• Year 2 Investor Cash on Cash: 20.25%
  • Year 2 seller financing ends. Manager introduces traditional debt.
• Year 3 Investor Cash on Cash: 13.05%
• Year 4 Investor Cash on Cash: 13.75%
• Year 5 Investor Cash on Cash: 14.46%
• Year 6 Investor Cash on Cash: 15.18%
• Year 7 Investor Cash on Cash: 15.93%

Benchmark: 8% preferred return 

Minimum investment: $10,000

Please email Dylan Borland at [email protected] for additional details or investor package.  Or call (734)-744-6399

We need to have all funds raised by December 19th so please reach out sooner rather than later. This is first come first serve, so contact us asap.

Thank you!

David Toupin

Investment Disclaimer

The investment information provided here is highly speculative, and an investment involves a high degree of risk and immediate and substantial dilution from the offering price. The investment has not been registered under the Securities Act of 1933 as amended (The “Securities Act”) or applicable State securities laws and are being offered and sold in reliance on exemptions from the registration requirements of these laws. The Shares have not been approved or disapproved by the securities and exchange commission or any state regulatory authority nor has the commission or any state regulatory authority passed upon or endorsed the merits of the offering or the accuracy or adequacy of the private placement memorandum. Any representation to the contrary is unlawful. The shares may not be transferred in the absence of an effective registration statement under the securities act and any applicable state securities laws or an opinion of counsel in form and substance acceptable to the company and its counsel that such registration is not required. 

This investment is open to accredited investors only, as defined by the SEC (506-C).

@Heather Klompmaker No Problem. Yes I definitely have found it to be beneficial for investing in residential real estate. Mainly for the ability to use the MLS. I dont list any properties so I only needed MLS access to be able to comp properties. If you are looking to fix and flip or buy rentals it is definitely useful.

@Heather Klompmaker  I ended up using Career Webschool I believe.  Took me about 2-3 weeks to complete and was cheap and easy to use.

In this meetup we are going to cover goal setting! Do yourself a favor and set yourself up for success by putting in place great goals and doing the actions necessary to achieve them! We can help you write them down and figure out strategies to achieve them.

The rest of the session we will answer any of your questions and help you bring your business to the next level!

Come with questions, or bring deals you want analyzed. We will coach you through what ever questions you have about real estate investing from residential to commercial. The goal will be to help you build your business or get started in the business. Though it is a group coaching session and we may not get to everyone, you will certainly learn by simply being there.

We sill start on time sharp! You will find I am very disciplined and you must be also if you want to build a successful business. Please get there early, if you stroll in late you may distract others.

This coaching session will be live streamed via Facebook by Jeremy Burgess. Thanks, Jeremy!

Learn how to invest in real estate in Michigan!!

*The session will occur in the large conference room directly across from our suite.
*The discussions that take place at this meetup should not be construed as legal advice. Please consult with your own attorneys on legal advice before completing any investing transactions.