All Forum Posts by: Jonathan Ard

@Michael Svoboda

Trying to boil down complex processes isn’t always easy! Best of luck and let us know how it goes and how you adjust fire as you proceed.

-Jonathan.

@Steve Rozenberg

Thank you Steve, when I get closer to I’ll reach out.

@James Call

Thanks for your feedback, yes you’re right up the road. We love going up to St. George. Beautiful place.

Stanley, 

Thank you for replying.  That is what I was tracking irt needing a local state attorney. 

I am starting to look at options of putting my team together.  I am expecting to invest in Texas where my investment partner is based out of.  Does anyone have tips or guidance on how to find an Attorney?  When starting out, how does one "evaluate" the attorney for future deals?  I know a real estate attorney in Florida but do I need to focus on an attorney for each state the property is in?  Thoughts?

-Jonathan

@Taylor L.

Sure.

69 unit (2/1), $2.7M. 67% occupied, 11.24% Cap Rate, value add opportunity. Market rent is $600, current rent is well below ($350) Additional income is $25k year (for an event parking lot adjacent). CapEx refurb is recommended and unit is close to a large state school (walking distance). Expenses were not given so 50% was assumed in my own analysis and the Pro Forma given. They used a much higher rent rate for the Pro Forma but I used average market for the 2/1 units. As I said before numbers seem to be too good.

I have a deal that I have been looking at but I must be missing something as the numbers look too promising. I am using Michael Blanks SDA and I am hoping someone is familiar with it and wouldn’t mind checking my numbers. Who’s up for it? I’d love to return the favor if you are using the same thing or have one from the past I can review and maybe discuss.

-Jonathan.

@Dan Mumm

Well, I have really run these properties like a business (keeping reserve, running CoC, annual return, growth... etc) I've had them both for over 14 years and this is the first big expenditure I've had so now that I'm looking to move into being more deliberate expand I'm shifting my record keeping to be in line with everything I've been learning in the last few months. The CapEx has been paid for and I've recently paid off all my personal debt (unsecured) so I really just consider it cash flowing at this point. The tenants I have now on the leases will be at each property long enough to cover the cost of the work I had to put in to them.

@Michael Henry

Great job Michael! Setting your target return and then shopping to find the property that synced up is a big win in any book!

@Michael Svoboda

As mentioned below, start from the Target back.... So what's the goal of this effort? How much income per month. Then decide your vehicle, (SF rentals, MF units, STR, whatever). After deciding the vehicle, set your target investment criteria and stick with what you and your spouse agree too. Find it (the property) that meets your investment criteria and provides you the annualized returns you agreed on (12-15%). Fund it, via personal finance or with investors. Finish it thru closing and implementation of your daily business process/strategy (or hand over to a Property manager). I love acronyms like BRRR so I call this the Simple F3. There are plenty of ways to skin this cat which can lead to paralysis analysis.... keep your methods and guidelines simple and clear. There is plenty of time to refine and develop repeatable processes but you have to get some deals to make the leap from theoretical to P&L based lessons.

Hope this helped. It’s helped me too just by writing it.

-Jinathan.