All Forum Posts by: Eric Michiels

Hi, as my next investment I want to buy an apartment complex. I was wondering if anyone has an idea of where I can find a mentor and a good tool to analyze the deal correctly. I'm guessing in meetups I might be able to establish some relationships that might help me navigate this type of deal, but any additional advice would be appreciated. 

Thank you,

Eric

Hi Paul I sent you a DM. Thank you. 

Thank you Brock

Thank you Andrew, this is great advice. I appreciate it. 

Hi Neil thank you for your advice. Yes if you can share a way to contact the securities attorney you have worked in the past with, I would appreciate it.

Thank you,

Eric Michiels

Hi, I'm working with a church to convert their space into an apartment complex where the church will have it's meeting room on the first floor and we will build apartments above the meeting room. 

I'm raising funds for the project and would like to understand if i should create a fund for investors or just do Syndication. I understand how a fund is created and it cost about $15K, but I don't know how to legally structure syndication. 

Any advice on which way to proceed? If I should do the fund rasing with syndication, who should I talk to about the legal structure?

Thank you,

Eric

@Matthew Utt you should reach out to wholesalers and sell it "As is". I think if you talk to a wholesaler they can help you. But do it very soon.

I haven't read all the reports carefully but if you haven't, you should forgive yourself. We all make mistakes. Some are more expensive than others but you will get through this.

@Jason Breton I live in Denver and I get a couple deals a day from wholesalers. DM me and I can connect you to them.

Hi, I have the opportunity to build a fund with $2M from friends to invest in Real Estate. Mostly in Fix and flips. 

My plan was to suggest these numbers:

1. 1. A fee of $8K to manage the operation.
2. 2. 30% of the profits go to me. 
3. 3. 70% of the profits go to the investors. 

If we make $35K per house (average), and we are able to flip 100 houses in 2022, they would make over $2,3 Million back. We would work with Hard money to finance the purchases and rehab. 

I'm I wrong? I'm I missing something? (FYI I flip houses right now with different LLC with each partner and make 50% on each deal, we make average $35K on each flip, it's just too complicated to manage multiple LLC's)

Also if you have experience in this field, is a fund an LLC? How would I legally create a Fund, what legal structure would that be?

Thank you,

Eric

@Max Mavec you should not have any problem investing. I'm a foreigner with a work visa and I work with investors from other countries and US investors.

There are hard money lenders that will lend even if your credit record is not great.

DM me and I can share with you some contacts and will gladly guide you.

Eric