All Forum Posts by: Greg Scott

Thanks Drew!

Everyone should know, however, I'm not presenting any real estate deals I have done.  We have people that are relatively new to real estate showing their deals.  They did it right.  Their returns are fantastic.  We want to show more people how to start off doing it right too.

I have not subscribed to PassivePockets, but I didn't know it existed until earlier this year and I've been investing in syndications for more than a decade.

At the risk of stating what might be obvious, have you checked out PassivePockets?

Many syndications are RegD 506(c) which would require you to be an accredited investor.

There are fewer RegD 506(b) syndications and those allow you to be accredited or sophisiticated.  However, the SEC has no formal definition of "sophisticated". Therefore it is up to the syndicator or the group you are investing with to decide if they think you are "sophisticated".  

Frankly, if you don't understand these deals, you probably shouldn't be getting into them because there are plenty of bad ones out there that have gone to zero.  You should be able to identify the good ones and the good operators and have an understanding about how these deals are underwritten.  It is in your best interest to get some education if you don't know.

On the other hand, I have run across people who have invested in syndications and they have a hard time spelling real estate, and they clearly are not sophisticated investors.  They have gotten into deals.  I don't know if the ones they got into were any good, though.

If you have been curious how people have achieved financial freedom through buy & hold real estate, you will want to attend this event. We have every day people presenting case studies on the amazing returns they are getting with buy & hold residential real estate.

Normally, you must be a member of Lifestyles Unlimited (or a friend of a member) to attend. However, I will be the MC for this event, and since I am also active on BP, I can have you added to the attendee list as my guest.

You should know that there are about 100 active Lifestyles Unlimited members in the Indianapolis area. This group gets together regularly to discuss real estate investing. If nothing else, come to meet some local investors.

PLEASE DM ME IF YOU WANT TO COME.

Learn how to start changing your life!

I hope to see you there.

If you have been curious how people have achieved financial freedom through buy & hold real estate, you will want to attend this event. We have two great couples presenting case studies on the amazing returns they are getting with buy & hold residential real estate.

Normally, you must be a member of Lifestyles Unlimited (or a friend of a member) to attend. However, I will be the MC for this event, and since I am also active on BP, I can have you added to the attendee list as my guest.

You should know that there are about 100 active Lifestyles Unlimited members in the Indianapolis area. This group gets together regularly to discuss real estate investing. If nothing else, come to meet some local investors.

PLEASE DM ME IF YOU WANT TO COME.

What is being presented?

Single Family - A couple from Lafayette, IN has bought 11 single family rentals in under 2 years. They have completely transformed their finances in a short period of time and the can finally see a path to a comfortable retirement.

Multifamily - A couple from Metro Detroit bought a 32-unit apartment. In under 18 months they delivered a 30% return to their investors and now are looking for a much bigger property.

Learn how to start changing your life!

I hope to see you there.

My wife an I have a will and trust created by an attorney that does a lot of estate planning work. Our trusts are written such that any of our personal assets are automatically swept into the Trust upon our death. That would include the LLC that we own together.

If these were set up incorrectly, it could have been very expensive for our heirs to fix it later.  I'd recommend hiring someone qualified.

My SEC attorney has always told me have the LLC where the property is or where you live.

If you create in MT, you should still be registering in TN and have a registered agent in TN.  Both have a cost to them and ongoing fees.  Choosing a state because the filing fees are cheap is a bad idea.

Interesting article. The first anecdote reminded me of a true story.

I know an apartment owner that lost a lawsuit.  They had cameras all over, but a woman got assaulted in one of the few blind spots on the property.  Without proving that the blind spot was the reason she got assaulted, the lawyers argued that the cameras implied he was providing security.  After the lawsuit, his solution was to remove the cameras entirely!  

We install surveillance cameras in our clubhouses and pool areas, but we have zero "security cameras" on our property. 

I recommend you check out Lifestyles Unlimited.  The organization has been around for 35 years, so clearly they are doing something right.

They have a huge group of members in San Diego.  Many of them came up for the class I taught in Anahiem earlier this year.  I know a lot of them well.  Some of them have also invested with us.  That same class is being taught the August 2 weekend (not me sadly).  Most of our San Diego members are investing passively in apartments across the US.

You can sign up for the basic, 1-year membership to attend the upcoming class at givemetotalfreedom.com