All Forum Posts by: Derek Robinson

I've been investing in multiple realms of real estate.  Now that I have some cash built up, I'd like to get into private lending.  I'm thinking short term financing to flippers (6 to 8 months), not necessarily long term note investing.  If someone has experience in this and would like a free lunch, I'm happy to buy to pick your brain.

Thanks!

@Bryce Alabaster you aren’t on Lanvale are you?

I currently own 8 mobile home parks in North Carolina and South Carolina.  I have a total of around 100 lots.  I'm looking for a company that manages mobile home parks.  I've emailed quite a few from mobilehomeparkstore.com with not much response.  They are all within two hours of each other.  Let me know if you know anyone!

Great cash flow, excellent property management in place!

https://www.biggerpockets.com/real-estate-listings/4-unit-apartment-building

@Michael Blum, hey Michael, welcome (back) to Asheville!  I’ve been in Asheville for around 13 years and it’s been interesting watching it change.  I started my real estate journey with buy and holds, but have drifted into multi family, notes, and short term rentals.  My next move is to start putting funds into syndication.  Let me know if I can be of any help!

Thanks for (most) of the input guys!  It's looking like based on my interest and goals, syndication or private money lending might be my next route.  I do currently enjoy managing all my real estate, but want to plan for the future and know I have an investment vehicle that can be mostly hands off when I'm ready for that transition.

@Thomas S., I fully agree.  I'm balancing enjoying being involved in the business with the goal of knowing I won't have to one day.

What are you finding in terms of how much money you'll have to put into diversified income/mutual funds to earn the monthly income needed to support your lifestyle?  And are you factoring in some kind of cushion in case a recession hits while you are counting on this income?

I got into real estate investing to escape the 9 to 5 paycheck route. Now that I have enough "passive" income through single family, mulitfamily, short term rentals, a few notes, etc....I'm looking at the next step to become truly passive. I say I have passive income in quotes because I still have oversight of employees, making bigger decisions on remodels, tenant turnover, etc. plus oversight of accounting.

In my mind, truly passive means I have to do absolutely nothing and see the income rolling in. Do I save up enough money to buy an annuity to get that guaranteed income? Someone suggested liquidating property to get more into the note business, but you still have to find the notes, oversee payments, oversee foreclosure, etc. Someone has suggested becoming a private money lender, but again, you have to find potential investors, oversee payments, etc.

Don't hear me complaining! I am truly happy with the incredible amount of flexibility I currently have to be with the family and live a life we are comfortable with.

I've thought about training someone I can trust to know everything I know so they can give oversight, but most people I know like me also have the goals of being truly passive.

Any thoughts on this topic? Thanks in advance!

I got into real estate investing to escape the 9 to 5 paycheck route.  Now that I have enough "passive" income through single family, mulitfamily, short term rentals, a few notes, etc....I'm looking at the next step to become truly passive.  I say I have passive income in quotes because I still have oversight of employees, making bigger decisions on remodels, tenant turnover, etc. plus oversight of accounting.

In my mind, truly passive means I have to do absolutely nothing and see the income rolling in.  Do I save up enough money to buy an annuity to get that guaranteed income?  Someone suggested liquidating property to get more into the note business, but you still have to find the notes, oversee payments, oversee foreclosure, etc.  Someone has suggested becoming a private money lender, but again, you have to find potential investors, oversee payments, etc.

Don't hear me complaining!  I am truly happy with the incredible amount of flexibility I currently have to be with the family and live a life we are comfortable with.

I've thought about training someone I can trust to know everything I know so they can give oversight, but most people I know like me also have the goals of being truly passive.

Any thoughts on this topic?  Thanks in advance!

@JJ Neerman, A well could cost anywhere from $2,500 to $10,000, depending on how deep they need to dig.  I honestly have no idea about what could come up and what repair/replacement for a lagoon system might cost.  These really don't exist in North and South Carolina that I know of.

Yeah, I'm seeing a lot of sellers valuing their empty lots based on future potential....which isn't fair in my opinion because they aren't doing the work or putting up the money to realize that future income.  Some people use this as a starting point for their listing price and will listen to reason.  Other's won't, depending on the seller's motivation.