All Forum Posts by: Jeremy Schreiber

Hi BP Friends,

While my personal investments are currently limited to single family houses, a classmate of mine from Harvard is currently running a booming business called Hasta Capital that invests in and develops large-scale multi-family properties in the US and Latin America.

I wanted to share a video interview where he discusses investment strategies, historical and future-looking market conditions, recommended debt ratios and more.   

Rodrigo Suarez - Hasta Capital - Interview

Disclaimer:  This is not an advertisement or recommendation of the business.  Rodrigo is a very bright, energetic, and humble leader, and I thought y'all might learn something from him!

Hey @Chris Clothier, 

Thanks for chiming in.   BTW, I wanted to let you know that I've been working with Allen on your team and he has been a fantastic guy to work with.  I wanted to make sure you heard it directly.

Cheers,

Jeremy

First of all, congratulations! This is a great set of problems to have, even if you feel you could have done even better had you been running the numbers all along.

I fully agree with @Dave Foster's advice.  I'd like to place extra emphasis on the 45 day time limit - which will be the biggest factor influencing your decision.

If you have 285k of equity to play with, you're looking at either buying 1 larger multi-family property or several smaller properties, likely amounting to close to or in excess of $1M worth of property.   From the time you sell your first of 5 properties, you'll have only 45 days to identify the perfect replacement property.  So that's a lot of pressure with not a lot of time.  Of course you can start hunting for replacement properties before you put the first one up for sale and that will buy you some extra time.  Just be careful not to rush into a bad property because you have to meet the deadline.  

In short:  Make sure you do as much of your homework, and setup your criteria before you start to list your first property for sale.

Best of luck!

Jeremy

Hi @Ali Boone,

I do have a company I'm working with.  They seem incredibly professional, and all the research I've seen on them has been positive.  The contract is pretty standard - however it's incredibly biased towards the seller.  Additionally, when you get to the property management side, there are clauses that completely misalign the incentives between owner and manager.  I'm fully capable of negotiation terms.  That said - I'm used to using an agent to purchase a home - it's a strange feeling going it alone.  

If you're willing to help pro-bono - at least to help me talk through some thoughts - that would be amazing!  Please PM me and we can talk tomorrow!  

Thanks

Hi BP Gurus,

It appears that when investing with a respected turnkey company, they attempt to sell directly to you.  Their sales people are effectively serving as the real-estate agent, which creates some mis-aligned incentives.    Should I bring my own real-estate agent to help navigate the contracts?  Would the turnkey company pay their 3% commission if I did?   

Should I instead bring a laywer to the table?  

Does anyone have advice on how best to proceed, and what professional advice is necessary before signing?

Thanks

Thanks @Scott Williams.  From what I understand, I should be ok if I list the property as "xxx and yyy, trustees of the trust, as MY sole and separate property",  then the ownership still stays with me and my social security number, even though it resides within the trust.   (where xxx and yyy are me and my wife, and MY is replaced with my name)

Hi BP Friends,

I'm doing my first 1031 Exchange, and I need some simple help from those of you with experience.

The house I'm selling was titled in my name.   My wife and I recently setup a trust (based on my social security number), and would like buy the replacement properties and keep them in the trust.   Can I title the new properties directly into the trust, or do I have to title them as me, then transfer them later?

Any advice would be great.

Thanks

Hi everyone,

I'm in the process of selling my rental property in Austin, TX, and am looking to do a 1031 exchange into a couple of properties in the Phoenix area, where I have family.  Essentially, I'll have a good bit of equity to spend, and not a lot of time to spend it :D 

Who I'm looking to connect with:

I'm looking to connect with real estate agents and property managers in Phoenix who could help get this up and running.   Beyond this specific transaction, I'd also love to connect with experts and advisors who are willing to share their advice and guidance with a relative newb, who's beyond excited about active real-estate investment!  

What I'm looking to invest in:

As I'm still fairly new to investing, I'm trying to keep it simple.  Single family homes, buy & hold rentals, in A or B neighborhoods.  As I'm an out of state investor (I live in CA, where investing is rough), I'm looking for fairly minimal repair work to start off with, and would even consider turnkey properties for now, until I can build up a stronger network in the area.  

Contact Me:

If you're in the business, please say hi - I'd love to start digging through properties immediately. 

If you know of any good contacts, please send me recommendations as well

Thanks everyone!!! The BP Podcasts have been a real motivator - I can't wait to connect with everyone here too!

Jeremy

Hi BP Friends,

My name is Jeremy, and I'm a long time lurker on BP, and am excited to be actively joining in the fun.  

I live in the Bay Area of California, where I work in tech, particularly in hardware design and manufacturing - and have a huge passion for Virtual and Augmented Reality - it is the next wave of computing - and yes - I'm a bit of a recovering tech geek. My background is a blend of electrical engineering and business management. 

When it comes to investing - I became an "accidental landlord".  I used to live in Austin, TX and when I moved away, I decided to try my hand at renting my house with a property manager. It worked out really well, and years later I was able to leverage some of the equity to help buy my current house in San Jose.   In short, real estate has worked well for me - without expert planning and investment strategies - and I can't wait to see how well things go with some added effort! 

While on a 6-month assignment in Europe, I spent a lot of time on the road driving, and listening to Bigger Pockets Podcasts.  I'd be lying if I didn't say I became totally hooked on the idea of real estate investing!   So here I am ready to jump in and start actively participating - meeting people and building my network, and hopefully making a few deals to get the ball rolling.

Please reach out and say hi!  Also, I'm looking to invest out of state in Phoenix, AZ and/or the Dallas/Houston areas of Texas, so if you're from either of those markets - please say hi as well!  

Cheers everybody!!

Jeremy

I think y'all are touching on the thing that has me so puzzled here.  I like the idea of investing out of state - there are some great markets out there.  However if the key is to build a team, how do you do the remote networking?  You need a lot of contacts to make this business work - an agent, a PM, good lenders, possibly good contractors, and a healthy dose of trust. 

How do I ( or anyone else)  build that in Phoenix, or Atlanta, or Ohio, while living on the West Coast?