All Forum Posts by: Derek Cirino

Lots of good advice/info.  Thank you everyone - appreciate it!

Thanks @Emma Powell. Love the idea of BRRR but I honestly don't have the time with young children and scaling a business. That's why passive investing into syndications is so appealing.

Thanks @Chris Salerno.  That is the plan - to find a solid syndicator or 2 with MF (looking at a few on BP).  

Originally got turned on to the whole passive investing from Grant Cardone.  I'm a huge fan of his sales training which carried to his RE and eventually landed me as an interested investor.  The problem is his returns, while very safe, are not juicy enough to get me excited.  

@Ned Carey thanks for the reply.  I should have mentioned I am going to be investing in syndications which should lower risk vs venturing on my own and buying a property IMO.  This, of course, assuming I properly vet the syndicator.  Narrowed down between 3 right now.

I appreciate the advice.

So I am getting closer to jump in with my first investment. I have cash ready to go but I also have the option to pull out a significant amount of equity from my primary residence by using a HELOC. My question, is it a terrible idea to use a HELOC on 1st as money to invest?

The way I understand it is owning a home is a forced savings account.  I'd rather take out that money and put it to work...

PS: The HELOC rate is 3.25%

Thank you

-Derek

Thanks Ola, I plan on shortlisting a handful and going from there.  

Thanks for the welcome, John.  I am also interested in buy and holds.  Look forward to potentially meeting at an event.

Thanks Taylor - I will check out your shows.

The general rule of thumb seems to analyze the team before the deal (which makes sense..)  I have my eye on a few syndicators who appear to be reputable but ideally would rather meet the person before handing over my cash.  I like to think I'm a good judge of character :)  

Thanks for the reply and info!

Hey everyone.  My name is Derek and I am new to real estate investing, or real estate in general.  I have been reading books, listening to podcasts, etc. for the past 6 months or so.  My goal is to be a passive investor in multi-families via syndication.  

I own a staffing firm and can't commit to investing FT, between trying to scale my business and raising 2 little boys, hence why passive investing is so appealing to me.

Look forward to connecting and hopefully meeting some of you in the future at events.

Thanks!

-Derek