All Forum Posts by: Jeremy Toney

Hey guys!

We are looking to expand our network and want to know your favorite lenders for commercial multifamily.  What lenders have you used personally and for how many units?  Did you have experiences with lenders more prone to lending on commercial multi family than not?  Please share your recommendations and experiences!  

Thanks BP Community!

What are you recommendations on how many units should be targeted on someone’s first apartment syndication?

What are your favorite markets for multi family investing?

Hello Bigger Pockets Community!

I am always posting on forums and looking to network and learn from others so for this post I wanted to give back to the community and offer my own expertise in what I have learned.  I am listing my top 10 books to read, but it will be more than that as I am never able to drill it down to only 10.  I have so many favorites and I will also note a perspective or important note regarding the book with it as I list.  Here goes!

1.  Think and Grow Rich - Napoleon Hill - This book is absolutely my favorite as I believe it to be foundational for all individuals looking to be successful in any area of life

2.  Rich Dad Poor Dad - Robert Kiyosaki - Another foundational book but specifically dedicated to real estate and investing 

3.  The Millionaire Next Door - Thomas J Stanley - a great book on understanding key behaviors and habits of successful millionaires 

4.  The Millionaire Real Estate Agent - Dave Jenks, Gary W. Keller, and Jay Papasan - great for understanding the key habits needed to be a successful real estate agent

Additional - The Millionaire Real Estate Investor - Jay Papasan - another “millionaire” book specific tied to real estate investing

5.  Start With Why - Simon Sinek - this book helps you to identify your purpose!  If your why is not bigger than you, then you will not be successful!

6.  The Compound Effect - Darren Hardy - this read helps in understanding what affect you will have long term with small, consistent habits

7. Principles - Ray Dalio - an excellent book on the principals to live by in order to be successful

8.  The alchemist - Paulo Coelho - outstanding read!  It has a storyline that is packed with morals that will transform your mind!

9.  How to win friends and influence people - Dale Carnegie - this read helps with leadership, salesmanship, and so much more!  Most important, it teaches you how to be a NICE PERSON!

10 - How to get and stay motivated - Grant Cardone - this book will give you the most simple actions and behaviors you can take on to get and stay motivated.  Grant talks about dietary ideas, self talk, and other ways to keep you going.

11. - The 10X Rule - Grant Cardone - this book will get you pumped!  Grant goes in to his philosophy of thinking BIG and how to execute.

Alright!  There you have it!  Now get started on reading some of these books!  I’d love other peoples recommendations on additional books!  Don’t allow yourself the excuse of not having time to read!  I hate reading so I listen to all of my books through an app called audible!  I’ve completed 76 books in a year and a half and re-listened to many of those multiple times, so no excuses!  Good luck to everyone on their real estate journeys!

Hello Bigger Pockets community!

What are your best recommendations for books to read and other educational sources to develop financial analysis and underwriting skills?  I have read Joe Fairless’s book, Best Ever Apartment Syndication Book, 3 times now and also Gene Trowbridge’s, It’s a Whole New Business.  What other books and avenues do you guys recommend in the learning process of syndication and underwriting deals?  Thanks in advance everyone!

I’m always looking to network and grow my connections so feel free to reach out and connect!

Hello Bigger Pockets Community!

I’m looking to connect with experienced apartment syndicators and related professionals! As I pursue this field of real estate investing, I want to position myself with the right people! I am looking to develop relationships with experienced syndicators to gain expertise in the field and mutually offer value in return. I am a highly motivated professional and extremely driven and motivated to extract every bit of knowledge that I can to further my career in real estate syndication. I have been self educating myself for the last 10 years in investing and real estate, recently left my career of 17 years as a restaurant general manager to pursue real estate, started a residential remodeling business that I currently own and operate, and to add to the “resume” I am now a licensed Realtor in North Carolina. I am constantly educating myself further in the field of syndication as I build capital for my future endeavors, including diligently studying through current on market OM’s and teaching myself the underwriting process. All while this is fine, and I will get to my first syndication in due time, I know that networking with other active syndicators and related professionals will progress my skills in the field faster and foster future relationships. While it would be great to have a mentor, I do not expect that from anyone, but information that will help guide me towards efficient consultants in the field, and just connecting with folks in the industry experienced in this area to network with and develop long lasting relationships with would be my ultimate goal as I continue to learn the syndication world and all of its moving parts.

Thanks everyone and I am eager to engage with everyone and their recommendations!

Hello Bigger Pockets Community!

I am looking to connect with experienced lenders in the multifamily and apartment syndication field! My company will be looking to secure lending on our first apartment syndication within the next year and I'm looking to start building relationships now. We currently multitask in flipping SFH's and providing services to our local market in residential remodeling and construction. We take pride in providing high quality in all of our work, and you can expect the same in the relationships we are seeking to build!

Thanks in advance everyone!

Hello BiggerPockets members!

I need some help! The family and I are coming to Waco, Texas for the month of March! I’m in desperate need of references for a place to stay. We’ve got a couple options to consider so far but definitely want to consider all options. With that said, we a looking for a fully furnished short term rental for Me, My fiancé and Newborn, and our four other children! Yes, we are the Brady Bunch but we are great bunch at that. Nevertheless, we are wanting to find a place for March 1st through the 31st as we will be heading back to North Carolina.

While we are in Waco, we plan to network with real estate investors, contracts, agents and other professionals alike!

Please comment if you have any recommendations, and also please, if you’d like to connect, inbox me your contact information and we will definitely connect while the family and I are in Texas!

Thanks everyone and I can’t wait to meet some of you folks in Texas!

@Joe Splitrock

Thanks Joe, I appreciate that!

Hey BP!

First and foremost, I did it!  I am leaving my w-2 paying job that I have been with for 20 years!  I am currently working my notice, and after that it’s full time Real Estate Investing for me!  I’m excited!

So, enough about me, and back to the topic!  

Alright, so I currently have 3 properties under contract!  What do I do????!!   Just kidding...  I know what to do, but I wanted to hear the opinions of my peers!  So here is the scoop, feed me your knowledge, all feedback is greatly appreciated!

Property #1 -  Property under contract, contract has been assigned for $3500 assignment fee, property closes in 2 weeks.

Property #2 - Property Under Contract, ideal to fix and flip myself.  Very attractive profit margin.  Would be first project.

Property #3 - Property Under Contract, low rehab cost, less attractive profit margin.  Considering assigning contract for assignment fee.

As you can see, my first property is set, but the other two properties, I’m unsure what exactly I want to do with them.  Both currently have tenants, so my choices are wholesale for assignment fee, hard money/fix and flip or fix and hold myself, or just buy and hold/increase under market rent.  

What would you do?  What are your experiences?  I expect a range of responses, I know that some folks strictly wholesale, most can’t understand wholesaling from Adam, but obviously we have different investing options here.  How would you go about it?  

Thanks everyone! 

Alright BiggerPockets, I need your help. What is the easiest and most efficient way to go about this?

I currently have a house under contract, and a cash buyer that the contract is being assigned to. In hashing out all of the details, the seller wants the buyer to survey the subject property to have a line redrawn so her metal carport doesn’t have to be moved. It isn’t a big deal on count of the fact that she owns both the subject property and the property with the carport. I’m ok with taking the cost on this, as I made my assignment fee to allow it, but do I pay for it myself before the property is sold, or do I attach an addendum of some kind with the stipulation at hand?

What would the experienced investors out there do? If you have experienced this before, please share.

Thanks in advance everyone!