All Forum Posts by: Dani Beit-Or

 anyone looking to work w a true PRO and honest person in OKC for management and acquisition @Rhett Tullis is a great person to work with, speaking from extensive personal experience. 

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@Shilpa Matlock 

Thanks for the feedback. 

1st year in the life of a rental it typcially the worst one. 

The excel that we keep improving (we are now at version 4.5) and that have been used to analyzed properties more than 50,000 by our network and clients is available for purchase.  

Respecting forum regulation about a promotion I won't be including a link . . . . sorry.

Luckily I had only 1 project w/ Bildwise, which eventually we hired someone else to finish.

Like others have said - great first impression . . . poor (very) execution. 

At some point, I felt as if they are punishing me due to friction w/ my local rep. 

As much as I can tell they claim they vet the GCs but if this is how they vet them this is a joke.

They claim they do all the following but in reality is it done poorly:
Followups 

Checking on renovation progress - what a joke

Checking on timelines . . . after they pass (if at all) 

I may consider them for my mailbox painting but that's about it.

In my experience $20k to $40k us very steep and I know that there are programs out there w great success and track record for much less.

20-40k is almost a the whole down payment on an out of state nice rental

@Mark Roussin hello neighbor (I'm in OC too)

After many years of investing and assisting others I think the best way to go about it is actually first asking your self few important questions that will help you decide what path to take.

1.How much funds do I have?

2.What’s the source of the funds?

3.Do I have money in my rainy-day fund?

4.How free/busy am I and do I want to be actively or passively involved?

5.Can I get a loan?

6.What am I trying to accomplish?

7.What are my concerns:

•Vacancy, mortgage, will it go up or down, will it rent, can I trust the property manager

8.Do I know how to analyze a deal?

9.Do I understand the risks that are involved?

10.Do I have exit strategy/ies?

11.Have I set my investment criteria (baseline)?

12.Am I a doer? - Will I be able to pull the trigger when the time is right?

I hope this help and good luck

I ran this through my fin. model (see below) and used the #s you have provided. 

Based on your number I'd say that in my opinion and experience, based on the #s only, this is a good one. 

I know nothing about the area so I cannot provide an opinion on that aspect.

With that said I think it is possible you may have missed few things:

1. Leasing fee

2. Even if all the units are occupied I'd assume some immediate investment would be needed for some repairs/improvements/fixing liability issue/etc. - did you budget for it?

3. Did you include mortgage cost and closing costs in the amount of $$$ needed?

4. Did you make sure property taxes are correct? I hear OH taxes are very high

5. 6% int. rate? That sounds a bit high to what's available in the market palce. 

--> best suggestion I can give you is to put an offer in at what makes sense to you. 

I not familiar w/ this program but I will say one thing I have seen over the years - what would YOU like to happen at the end of the program? 

I have had many investors come to me after spending good $$$ on different programs (not the ope you are referring to) only to realize they spent 50%+ of a downpayment on a house but are still not owning one or not even sure how to buy one (very sad in my opnion).

Paying for coaching and program is a good way to have systems, structure, support, education but I think it needs to be both a reasonable price + real (REAL) results orianted. 

I found this one an interesting scenario and would love to know what you learned or decided to do after your research is completed. 

I wish I has the wisdom to share . . . 

I assume (and hope) you have conducted w/ an att. and who knows entities and taxation as this is a classical case for it. 

BTW, ta good title co. would be about to assist as well

Here's a protocol you can use or use as a template and make modifications. 

On distribution you can distribute funds as follows:

1. Return of principal investment 

2. X% (say 15%) of profit first goes to your money partners

3. $#### bonus to money partner ($1000-5000)

4. Y% (say 25%) of profit goes to you

5. Rest of profit divided 50-50 between money partner and you

My question to you is what happens if things do go according to the plan and more money is needed? even worse more is needed and all/some of the partners don't want to contrinute?