All Forum Posts by: Gwyeth Smith

Looking for recommendations for RE attorneys that can write JV agreements and such on Long Island, NY?

@Brit Foshee can you send me any additional information you may have?  [email protected]

Thanks,

Gwyeth

As lenders, are the services you use to check background and credit for potential borrowers any different than those used for potential tenants?

Thanks

I'd like to take a look at the properties you have in the 12-50 unit range.

[email protected]

Thanks

Also keep in mind that if you already own the property and want to create an LLC to move it into; depending where you are you will probably have to pay transfer tax which could a substantial chunk of change. I learned that one the hard way!

Does anyone have a commercial broker recommendation in Pittsburgh?  I am looking for a 10-25 unit building in/around PGH.  I currently own a couple smaller multifamilies in Bellevue and am looking for contacts who might be able to help me find something bigger.  I've already reached out to SVN and CBRE, but did so without an actual reference or point of contact.  Thanks in advance.

Hey @Ericka G..  I opened a Vanguard account because there was one fund I wanted to be in.  The account is free and there is no trade commission when buying Vanguard products.  I also have an account with Charles Schwab.  This too is a free account with low transaction fees.  I believe they now have the lowest cost total market tracking fund available.  I think with a little research you can outperform an advisor based solely on not paying any added fees.  Warren Buffet offered a $1 million bet almost 10 years ago to any hedge fund manager willing to take to take the following bet; no hedge fund manager can outperform a SP500 tracking fund over the course of 10 years.  The bet was taken and is due to conclude at the end of this calendar year.  The hedge fund has already admitted defeat.  I believe most people can invest in paper themselves, even as simply as one total market tracking fund/etf.  What you save in cost ratio really adds up.  There is a rule of 7.  It states, if you earn 7.2% return annually compounded, you will double your money every 10 years.  By lowering that compounded a return by even 1% (a broker fee), you drastically reduces your long term growth.  I'm currently trying to diversify into real estate.  I have 6 units over two properties currently and am looking to add more.  I'm using a line of credit off my stock/fund investments to finance deals and then refinancing to pay back line of credit and have property itself as collateral against the loan.  Best of luck to you.