All Forum Posts by: Jerry Shen

I'm hoping to be in that ballpark in the next 5 years assuming my business does well. I've thought about this a lot, but I would likely retire and allocate the following:

10 mill in cashflowing NNN commercial properties (targeting 8% CoC return so 800K/yr income)

5 mill in bitcoin

5 mill in private equity investments

I have a cousin with a bit more than $20M and he invests in mostly real estate and restaurant businesses.

I think you misread my post. I didn't say beginners don't need ANY hand holding, I specifically mentioned accountability as a specific type of hand holding that is a negative signal to me. You have to be a self starter.

Look at the incentive structure. A broker only gets paid if a deal goes through. If you are serious about wanting to do a deal, then your incentives are better aligned with a broker than a guru who gets paid regardless of whether or not you actually can close a deal, right?

Joel certainly did a lot of hand holding through the specifics I wasn't familiar with, but if I paid 20K for a mentorship program I would have needed to pay the broker at the end of the day anyway if I wanted to get a deal done.

Good brokers will mentor you if you are serious about buying and provably have the capital to make their time worthwhile. You don't have to be a player you just have to have money. And if you don't have money to get into MFR why would you pay for a mentor anyway?

Your local bank said 4-5% is a good deal? Where is this? I do commercial and my minimum is a 7.5 cap rate, which I see all the time. Just gotta separate the wheat from the chaff. For the cap rate you are looking at I would expect a AAA tenants and like 20 year leases.

If you are buying in Cleveland or Akron buy this summer when the market tanks as Lebron inevitably leaves for the Lakers ;-)

Brokers make money when a deal closes, you are going to need one if you do MFR investing anyway so why not get the advice as a bonus?

This is the best post here so far. That's exactly what I did. Why spend money on a program when you can use it toward buying the property? Plenty of good brokers on this site. And if you don't want to get a property right away put down 50K to 100K into a syndicate with an experienced operator who is willing to show you what they are doing.

Mentorship programs offer mostly accountability, but I'm of the mind that if you are the type of person to need that type of hand holding you aren't going to be very successful anyway. 

@Account Closed I only hold bitcoin and bitcoin forks (like BCH)

I am bearish on every other currency except Bitcoin.

Hi Hoa,

I started same place as you last year. I definitely don't think 100K is enough to really get a good multifamily deal (unless you are talking about a really cheap duplex or 4plex but I don't really consider those multifamily). I think you really need about 10x that much to get a decent property of your own. I would recommend putting that 100K into some syndicates.

To give you an idea I did commercial (similar to MF in terms of capital required) and I put 2M into 2 properties. And those were on the cheaper end of what's out there.

Good luck!

I didn’t sell any coins so I haven’t lost anything. Bitcoin has massive dips all the time it’s volatile by nature

I’m bullish in the long term