All Forum Posts by: Jay S.

It’s the text messages that drive me crazy. It feels like a serious violation of my privacy. I appreciate all your suggestions. 

I'm getting hammered with text messages and snail mail from wholesalers. How do I determine where they're getting my contact information from and how do I go about removing that information?

The Meet up sounds like a good idea (I was originally thinking meetup.com). I'm in Mar Vista so it's an easy to jaunt to Pico. Thanks again all.

J

Jon,

I'm still looking for over the area as it was only just this month that I became able to make a purchase. However, the MACK Companies turn-keys in the South Chicago Suburbs (think Starbucks & Apple Store) might now be at the top of my list.

J

Hi @Jim Groves - My thinking (and I could be wrong) is that with direct ownership in the form of an equity partnership, if I own 15% of the LLC, I'm getting 15% of the net cash flow disbursement and have a 15% vote on the property - and yes I agree, that a 15% owner can easily be outvoted. However, the syndicator receives a small equity share (plus may put up their own money as well) as well as a one-time finders fee, but it would still be transparent about how much of the property they own and in what manner they are compensated. Yes, I know there's such thing as a "promote" but let's keep it simple... I would also have a very clear idea of what is being paid out in maintenance and management of the property. The books and the tax returns are mine to scrutinize.

In contrast, I'd say that the vast majority of the deals I've seen on a realtyshares.com type website are debt offerings. I'm told that I can invest say a minimum of $5,000 and given a projected IRR or cash-on-cash return for my money. It is not a buy-and-hold proposition. Even in the cases where it's an equity offering, there's a finite hold period (2-5 years) and I'm never told what the property is actually making. I may have a projected rate of return of for instance 10% over 5 years but how does that compare with the NOI even after money is put aside for CapEx and the debt service is paid? I'm willing to wager that the syndicator is doing much better than 10% IRR per year over that 5 years, yet I'll never know.

J

Thanks for all the feedback. I'll follow up individually. :)

Cheers,

J

What's the best way to find these sorts of deals? Something akin to costar or loopnet but for partnering. I'm not interested in realtyshares.com, fundrise.com or the like. I would prefer direct ownership, but a partnership. Since this question will come up, let's assume I have $150k to invest. Thx, J

Thank you both for your input. I actually live in Mar Vista / Venice area right now and like the idea of being able to drive to the Antelope Valley versus an out-of-state property in say Chicago. Although I do know Chicago fairly well. I also know Sacramento very well and thought about Roseville / Placer County. Thank you again.

Cheers,

J

I've been looking at Palmdale, CA / Antelope Valley area as a place to diversify my portfolio. I'm thinking of at least 3bd/2ba 1200+ sqft SFRs as rentals. Are there any turnkey companies you can recommend? More importantly, what are the good and bad parts of Palmdale? Can you give me cross-streets?

I think I like the idea of Palmdale rather than Lancaster as you're that much close to the I-5 and SFV. Anyone feel differently?

Thank you,

J

Hi,

I own several SFR rentals as well as a 15-unit apartment building. Along with my architect partner, I'm now looking at building a multi-use, both retail and residential building on a lot we possess in urban SoCal. Is there a book or other resources you can recommend that discusses construction loans, bridge loans, and the final stabilized commercial loan (the latter I am well versed in). The lot is on the order of 12,000 sqft.

Also, does it make any sense to pursue "Affordable Housing Finance"? 

i.e.

http://www.housingfinance.com/

Are there government incentives over the conventional construction process?

Thx,

J