All Forum Posts by: Joseph Gozlan

hi All,

I'd like to learn more about syndication, the SEC regulations, what it takes to form the structure, best way to do so etc.

Can anyone recommend a good source to learn from? Could be a site, ebook, seminar/ webinar, etc.

Thanks,

Joe

 Thanks Jerry, I was just looking for local TX banks and your reply helped assure me that talking to Waylon is worth my time.

It's responses like this that makes BP a great place!

Happy B. Day Brandon. Enjoy it, it's all down hill from here....

:-P

 Good Luck!

Hope you get the offers you want this weekend.

Unless you have a weird property (i.e. border on a cemetery, impossible layout, no fence etc.) then your property is simply overpriced.

DFW today is STUPID HOT which means every decently priced property gets multiple offers within 2-3 days and some of them are over asking price.

Have your realtor pull a CMA report and see what's the right price point you should be at.

Don't take an appraiser value from 6 months ago as a gospel...

"... The smallest units start at more than $500,000..."

Ouch!

Source: http://www.dallasnews.com/business/commercial-real...

I don't have a brand loyalty. Whatever price is better and has the colors I'm using I'll buy it. 

As for the finish, there are two factors:

1) is it a low/mid/high end property. No high end house should have a satin finish in the living room :-)

2) where in the house am I painting (bathrooms and kitchens will get glossier finishes such as eggshell while living and bedrooms will probably lean more towards the flatter finishes)

Hi @Dustin McDaniel welcome to BP :-)

This is a great place to start!

Make sure to check the podcast: http://www.biggerpockets.com/podcast

And the [Learn] link on top of the page for TONS of useful information.

Hi @Shaun Aarons welcome to BP :-)

This is a great place to start!

Make sure to check the podcast: http://www.biggerpockets.com/podcast

And the [Learn] link on top of the page for TONS of useful information.

Thanks everybody for the responses. 

A couple of things:

1) the title says "let's play devil's advocate" this should've implied that I already subscribe to the idea of "multi-family is better"

2) I should really not post things like that at midnight :-D

@Matt Slakeydealing with the lower end tenants is a concern. Although I will have PM in place to handle the property, the turnaround, the evictions and the refreshing you HAVE to do every time a tenant leaves are a headache and a cost that comes more often with C class tenants.

@Kevin Siedleckiyou actually nailed it on the head. In my calculation above i included the mortgage in the costs of the multi but not in the costs of the singles. The math should have indicated higher cashflow for the multi units since I was assuming cash payment of the 1.5M to simplify the scenario.

Did I mentioned I shouldn't be posting these things at midnight?

@Alberto Camacho This is a theoretical discussion. The question of where/if I can find such a unicorn of a house that sells for $375K and cashflows is not the subject of the discussion. As for the mortgage costs, the main assumption was paying cash (see my answer to Kevin above). If we were to do a full technical analysis we would have to compare commercial loans to 30 years conventional and factor in risk and expected rate changes on the 5/10/15 year terms the commercial loans carry. I was trying to keep it simpler.

Once again, thanks everyone and keep the comments/responses coming. I find this discussion very useful!