All Forum Posts by: Russell Tidaback

Don,

Thank you for the post and good question. That is the point...where we have not closed / acquired property in this business name does not mean that we do not have the experience. We have been a bird-dogging since 1993, studing real estate laws, practices and opportunities. We are very familiar with Profit & Loss Statements, Balance Sheets, Bookkeeping, Forecasting, Property acquisition, rehab, marketing, sales, management and leasing for both SFRs & multi-unit properties.

We have extensive education and practical application in deal analysis, national and local market research, direct marketing, preparation of offering memorandums, deal structuring, establishing and managing local teams. With 21 years military service as a commissioned officer, I personally know how to persuade people to perform beyond their capabilities.

We have participated in the creation and operating Advisory Committees and Home Owner Associations. We believe to be good citizen you need to be involved with the community that your properties belong too. We actively participate in County and City meetings and activity sponsorship.

We do not believe in absentee ownership. No one will take care and responsibility of your interests like you will, especially in business.

So back you your original question..."what are you bringing to the table?" We bring the manual labor, the research, the honesty, communication, commitment and integrity to be successful. This, to make sure your investment is protected and profitable returns are made. As with paying personal bills, creditors get paid first; same with our investors/equity partners.

We report, as needed by our investors, the operational status so there is no question or surprises on the status of their investment.

We make sure everything from initial to exit strategy is in writing. We understand the investor/partners are in the deal to make money, just as we are. Shares, splits, etc should be fair for both sides or the deal will not work.

Wow, looking up from the keyboard I realized this Post Reply was long and lengthy but hopefully it answers your question and sheds some light onto what and who we are.

If this sounds like your business investment strategy contact me directly.

Russell

Joshua Dorkin I believe the system caught me again asking for colleagues...one to many too fast. Im banned again. Sorry to be a hassle.

No disrespect taken... I think you may have read into the posting and made a incorrect conclusion. I do have 20 years experience dealing with an annual budget of over $600M a year and having to budget and answer to leaders. I do have 20 years experience of managing multi-national operations with 100's to 1000+ people at different locations.

No where in the posting states that I have done "50+ unit purchases"; it does state that we "look for class A & B properties that can pay for themselves; 50+ units".

I am glad to see someone other than myself does research and you are correct, we did establish a new business in FL 2 months ago...again, read my posting..."OK, OK...we are getting off the sideline and into the game."

I am taking in your post as "corrective" criticism as a positive attempt and I thank you for this. If you wish to coach or mentor we are always open to constructive feedback whether its good or bad.

After reading you post again, it makes me think that the post wording was correctly done and is working correctly if it got you to think about your post.

Again, contact me if you wish to help in our endeavor. We may be good partners!

Take care

OK, OK...we are getting off the sideline and into the game.

We are looking for a "funding" partner. A POF will be requested, at the appropriate time.

Preferably someone has done "this" before on a project by project basis; will have a signed understanding in place before any real estate contracts are signed or work is done.

Right off of BP, here are negotiable terms to get the conversation started:

- Who is putting up funds and how much are they giving?
- What is the percentage split of funds?
- Who will be actively managing the property?
- What will each partner’s specific responsibilities and expectations be in the day to day care of the property?
- Who will be on title?
- Who will apply for the loan?
- How will expenses be covered?
- How will future capital contributions be dealt with?
- How will any monthly profits be split?
- Exit strategy, predetermined and agreed upon.
- If sold, how will the proceeds be split?

We, Tidaback, LLC look for class A & B properties that can pay for themselves; 50+ units, CAP rate 8% +- 1%, DCSR 1.1-1.4 range, Breakeven range 85% or less and an expense ratio of not greater than 65%.

If we cannot make money on the front end and have the portfolio pay for itself monthly we do not pursue. We do not get emotionally involved, we are a strictly numbers business.

What we offer is due diligence, management experience, budget expertise and honesty for a long-term relationship.

If this interests you, please contact me.

[email protected]

Thank you! @Jon Holdman @Joshua Dorkin

When trying to send Colleage request it states "Conversation base you have been banned from the BiggerPockets messaging system for spamming. Please contact an administrator." How do I contact an administrator to have this removed? I am not spamming or selling anything, I am trying to network with others.