All Forum Posts by: John Cassel

@Mario J Perez @Chris K. thank you for your recommendations.  I will definitely reach out to Jillian and Kim.  Also, thank you for taking the time to respond.  I appreciate all the help!

@Chad Gallagher If you don't mind providing their name I would love to reach out to them personally.  Congrats on the successful raise and thank you for reaching out!

To all,

I am looking to meet up with an attorney in PA that is experienced in doing syndications. My current attorney can handle the smaller deals and setting up LLC's but has no experience in sydications. Any help would be greatly appreciated. If you have personally used the lawyer for your syndications, even better.

Thanks in advance,
John

I agree with @Travis Wylie, I use property management on my properties (small multis) but you need to calculate that in because if you are managing it yourself that is still a cost of your time.  For an older house, I would probably use a total for 12-15% for combined Maint/Cap Ex.  Lastly, the first property I purchased was $100k with 2% seller help and the closing was still $4-5k so I would probably budget at least the $4k to be safe.  

I think with all those adjustments the realistic COC return would be in the small single digits. I would recommend looking for at least 10% if there is no value add opportunity.

Hope this helps!

John

@Shawn O'Gorman I purchased my first property last year at 29 and wish I would have started when I was 18.  As long as you know what to do the age doesn't matter.  Best of luck.  Let me know if you need any help getting started.

@Jacob D Cockerell If you have a contractor that you trust you could always look to partner on the deal.  On the one multifamily I recently bought, I came with the down payment and he is funding the larger portion which is the rehab.  He is doing the work and we structured it so he gets paid back first at refinance.  When we are both paid back we are going to hold it with 50/50 split.  That might not be the best option for this current property since it is a small rehab but might help in the future. 

I would try to find a flipper or investor at your local meetup that has experience and just give them a cut of the profits for the sale after you pay them back.  Hope this helps!

@Dutch Langley, @Nathalie Chew, @Karl Swain  thank you all for reaching out.  I would love to meetup when I am down in that area.  Nathalie, thank you for the recommendation I will definitely be reaching out to Jesse.

John

@Tiffany Alexy @Brent Zande Awesome! Thank you for reaching out.  I am definitely interested in linking up.  At the moment it looks like the last weekend in June but it’s not definite yet.

@Josh Oaten I’ll shoot you a message.  Thank you!

@Caleb Heimsoth, @Samuel Albert, @Laura Shinkle, @Pat Lulewicz,

Thank you all so much for reaching out.  Hopefully I am able to meetup with all of you when I make that trip down south.  Once I know the weekend I am coming down I will definitely give you all a heads up to see if I can coordinate with each one of you.  I love talking real estate and hearing other investors stories.  If any of you are ever looking to invest in any markets in PA, please let me know I will be sure to help in anyway possible.

Thanks,

John

I have invested in a couple smaller multifamily deals in PA but I am currently looking to move into larger units (20-100 units).  I analyzed a couple of markets and decided I want to target Raleigh & Charlotte, NC for a variety of reasons.  Within the next month or two I plan to make a weekend trip down to NC to visit both Raleigh & Charlotte to get a better feel for the markets.  I am looking for the following;

-Local investors willing to meet & network

-Recommendations for PM companies to meet with

-Attractions, food places, & things to do for fun in the area as my wife & son will be along

Thank you in advance for any help or recommendations!  I look forward to networking and meeting some great people in North Carolina.

Sincerely,

John

Hi, my name is John Cassel I am a multifamily investor from York, PA.  I currently have 6 units but I am looking to branch into bigger deals (10-150 units).  I am looking for large multifamily investors to meet with and maybe pair with on a future deal.  If you live in York, Lancaster, Harrisburg or surrounding areas and are also looking to/or are already investing in larger deals please reach out to me. 

I would love to meet for lunch or just talk over the phone.  If you are already doing larger deals I would love to be able to help out and add value to your business while gaining experience.

I look forward to connecting!

Thanks,
John