All Forum Posts by: Garrett Diegel

@Anthony Dooley I agree with that. We would be the controlling partner. I am just concerned that the extra debt service would kill the cash flow and make the deal not worth doing. There is not a ton of value to add on this property as it is very close to turn key with very similar properties surrounding it. 

@Anthony Dooley Thanks for the help -  what would that do to cash flow?

In the end it is your decision and most peoples disapproval or anger with anything is because they don't understand it. We have had successful properties for a while now and people still ask us "How are the apartments going?" with a hint of expectation that we are going to scream out "Horrible!!" When in fact they are amazing and the best decision we have made. In my experience people are afraid and if you succeed in something they either don't understand or they wish THEY could succeed in. They will disapprove of it. If you aren't getting the reaction you want don't worry about it. Just talk about something else at thanksgiving. 

 Thanks so much Andrew. Texas is on our list to look into. If we head that way I'd love the opportunity to pick your brain. Keep in touch and again CONGRATULATIONS!  

@Andrew Campbell - This is a great motivational story. We also hope to be there one day. With the right amount of effort, courage, and education I do believe that anything can be achieved. You are proof of that. Great work produces great results right. We (my wife and I) have been looking into getting into more multi family property but our local area does not have much to choose from at a reasonable price. Our market currently is best mined for foreclosure, short sale, or off market deals. We had thought about looking outside our market as well and had heard Texas is a great. What are your thoughts on Texas right now for the mid to small multi family investor?? - Thanks in advance and congrats again. 

These are the numbers on a prospective multi unit property in our area. I understand the vetting of the deal and do own one other 3 unit property near by that cash flows well. My question here is how do I structure this deal to make it work for all parties. We have a family member that wants to silent partner. They just want to help us move forward on our

These are the numbers on a prospective multi unit property in our area. I understand the vetting of the deal and do own one other 3 unit property near by that cash flows well. My question here is how do I structure this deal to make it work for all parties. We have a family member that wants to silent partner. They just want to help us move forward on our REI journey and are not concerned about making millions from the deal. That being said, I certainly don't want to take advantage of them and want them to make a competitive return on their money. That is where you guys come in here at BP. Using little to no money of our own down, how do we structure this deal? Our family member would be able to put up the $58,000 as well as secure the loan for us on this property until we re-fi it out in 2018.

I understand reviewing the cash on cash and cashflow etc for our market. I'm less concerned with those numbers at this time and am more worries about - How do I present this deal to our family member / partner?

These are the numbers on a prospective multi unit property in our area. I understand the vetting of the deal and do own one other 3 unit property near by that cash flows well. My question here is how do I structure this deal to make it work for all parties. We have a family member that wants to silent partner. They just want to help us move forward on our REI journey and are not concerned about making millions from the deal. That being said, I certainly don't want to take advantage of them and want them to make a competitive return on their money. That is where you guys come in here at BP. Using little to no money of our own down, how do we structure this deal? Our family member would be able to put up the $58,000 as well as secure the loan for us on this property until we re-fi it out in 2018.

I understand reviewing the cash on cash and cashflow etc for our market. I'm less concerned with those numbers at this time and am more worries about - How do I present this deal to our family member / partner? 

@Junior Salters - I do have minimums that I look for but it is not always feasible. I would like, in my market, to be at $100 or more per door with over 10% COC return. The $100 per door seems possible in the right deals but the cash on cash is a little tougher from what I am seeing. We never factor in appreciation and just count that as icing. I am also currently thinking about investing outside of our current market in search of higher dollars per door. $200 - $300 per door or more would be a good goal for us in that case.

love @Brie Schmidt 's episode - i've got a lot to learn that is for sure.