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All Forum Posts by: Hadar Orkibi

Hadar Orkibi has started 48 posts and replied 1437 times.

Post: Hello all - multifamily is "Pay to Play" - Which Multifamily GP operator as Mentor?

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812
Quote from @Bruce Lynn:

Not sure what you mean about pay to play, but if you mean pay to be in a coaching program, it can be fairly expensive.  Almost all the coaches I listen to are pencils down right now.   That doesn't mean all operators are out of the game, but many are due to bid/ask spread differences, interest rates, capital raising issues, leverage, and other issues.

Brad Sumrok out of Dallas has a nice conference coming up in August/September timeframe.  Fairly cheap to attend, but of course you'll have airfare and hotel expenses...3 or 4 days depending on what level you pay.  I've been several times and thought it was an excellent event....great networking, great speakers.  About 80% other speakers and about 20% Brad.   He will try to sell you on coaching which is probably $25000-$50,000.  It's called AIMNATCON I think.  Normally I don't like guru programs, but I've seen many success stories out of Brad's program.

I think that is one thing different about multifamily vs normal fix and flip or get rich quick guru seminars.  I've seen success stories with most of them.   There are some huge failures too.  You can read about the Arbor foreclosure in Houston to see one.  There are plenty of others and there will be more in the next year or two.   There will be plenty of sponsors and investors who loose everything and maybe more than they invested.  There will be lawsuits....you may win the lawsuit, but if you have to pay expensive lawyers and spend time in Texas on the defense in a hotel, with meals and all other expenses...it will not be fun.

One thing you have to think about is if you are an accredited investor or hang out with plenty of accredited investors.  That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person.  There can be exceptions, but that's probably 80% of the raises i would guess from what I see.

Of the others on this list I've only been to TWA events.   I listen to plenty of podcasts from the others....and they seem legit as well, if you apply the knowledge.

Here's the list of gurus I have:

Brad Sumrok- Rat Race 2 Retirement...expensive, but I personally know lots of success stories. I’ve been to his seminars and thought they were great value. Normally in Dallas area.

Michael Blank-

Mark & Tamiel Kenney-Think Multifamily out of Dallas.

Steve Davis-Total Wealth Academy out of Houston. I’ve been to several of their events and thought they were top notch. His full day Wealth Mastery Class is one of the best classes I’ve ever attended. As much about life goals as real estate goals.

Lifestyles Unlimited--lots of success stories there too, but expensive....Sumrok and Davis and many others came out of Lifestyles program.

Rod Khalif- out of Florida.

Jake and Gino-

Joe Fairless- Best Ever Conference

Plenty of people on BP have been to one or more of these seminars and can give you the scoop probably on any of them. Some of them active on BP too. Many if not all have youtube videos and podcasts.

Other multifamily conferences:

MFIN—Various locations throughout the country

Vertical Street Ventures-

LFI-Left Field Investors

Family Office Club

One thought is and it is just a thought.....if you have $50,000 and are an accredited investor, instead of coaching invest as an LP in a deal.   You can learn a lot that way, learn about the sponsors, maybe you can contribute in some way to the success of the deal.  Do that once, and then be a fundraiser for their next deal.  You'll have some street cred that way and also get familiar with the numbers, reporting, distributions, pro forma vs actual results, capital stacks and communication....what you like and what you don't like.   It's probably a slower road than coaching, but it is a start....and hopefully at the end of the 5-7-10 year hold, you have some cash flow to show, hopefully 2x-3x your initial investment, some depreciation along the way.  Coaching probably speeds things up for many, but lets just say you spend $50,000 on coaching and all the coaches are in retrenchment mode right now and coach you to be pencils down.  You could very will spend that $50,000 and in the end just have some notes and notebooks and nothing to show for the money?


 Not sure which coaches you are listening to? But Jake & Gino are NOT penciled down!

They just bought a great deal in their market. We are all looking for a deal now, but the lack of inventory and sellers not meeting the market (Yet) is the issue. 

Yes, Pay to Play means if you are a beginner or lacking momentum, you need to pay to get coached by Active players who Make things happen. 

Few coaching programs were advocating aggressive Bridge debut over the last 2-3 years, and these are the ones that their members are now struggling with maturing debt. 

Post: Looking for some feedback on the 72117 N Little Rock area

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

Some of the areas around the port could be oaky. But you need to talk to a manager to see what the and is like for rental there and what kind of tenant you can expect to get there. 

Are you buying from a Turn Key Company? 

Post: Looking for some feedback on the 72117 N Little Rock area

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

Its not a great area. There are some rough patches in this area.

I suggest you check out this website for crime rates; there are more websites you can use.

http://www.city-data.com/ 

But you are going about it the wrong way, in my opinion. 

This is not the place to ask this question. (well, it is, but it is not the most reliable answer).

The BEST person to ask this question is YOUR PROPERTY MANAGER.

A property manager is the #1 team member you have to have on your team before buying anything, especially if you are out of town and not going to manage it yourself. 

Do you have a property manager on your team? 

Post: Regarding 'damaged' properties

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

The insurance company itself will Not fix the property. They will advance the money to do so.

Post: Regarding 'damaged' properties

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

One of the options you have is to get the I insurance money and sell the property As-Is where-is.

It's common in disaster-strike properties. Depending on what is left of the house, you may be able to come out better off this way while not dealing with the hassle of rebuilding. 

I bought many houses in Chch NZ after the 2010 Earthquick, repaired them, and then rented them or sold them. Many sellers do not want to deal with the repairs and juts want to move on.

With the recent tornado, it's a different story, especially if the whole house got ripped off, etc. Then the house maybe works Land value...

Feel free to DM me. I know LR pretty well. 

Post: Lead on 25 Door Property in Little Rock

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

I will DM you, Interested to hear more, please.

Post: Wholesaler in Little Rock Metro Area

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812
Quote from @Alexander Parunin:
Quote from @Hadar Orkibi:

PM me and i can refer you @Zul Budhwani



Are you still wholesaling in Little Rock area?



Are you still wholesaling in Little Rock area?

 I don't wholesale in LR, I invest in Multifamily.

Post: Is anyone using all interest loans as a strategy?

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

@V.G Jason IO is NOT Dumb. It is required in some situations.

for example, in a heavy list Multifamily deal, when the first 1-2 years, the property will cashflow less. 

it is also helpful when one builds a portfolio in a high-growth market when the plan is to sell half and keep the other half with no or low leverage. 

Post: HELP Wanted (Property Management)

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

I also use the Hoffman team, been with them for over 5 years. David and Jamie are great.

Worth asking if the manage in Carlisle.

Post: Little Rock, AR neighborhoods

Hadar Orkibi
Posted
  • Rental Property Investor
  • USA / NZ
  • Posts 1,522
  • Votes 812

@Craig Salzer not much has changed; my suggestions still stand. 

The main thing is that YOU need to make sure your TK provider is a good one and that they can provide good property management and have solid market knowledge.