All Forum Posts by: Justin Elliott

Hi Ruth,

We invest there.  To help guide me, what asset class/size are you after?

Justin

I think what's happening is lots of floating rate debt and bridge loans were taken out on deals in TX and the Southeast.  Operators underwrote big rent growth to make deals pencil. As debt is coming due rates have skyrocketed and rents are headed in the wrong direction causing distress. In other markets operators didn't need to underwrite big rent growth to make deals pencil, thus less distress.  

Great area to invest.  Lots of supply has hit the Twin Cities but that's dropping off steeply in 2024 so the area is poised for solid rent growth.  

 recently stumbled upon a book that I've owned for a long time. Despite its appearance, it had a profound impact on me when I first read it in 2015. Its insights solidified my journey into apartment investing and helped me find my why. 

This book taught me to narrow my focus to the one thing that would get me to my end goal of creating enough income to thrive without trading my time for it. I even tracked my progress in a spreadsheet and joined a community of like-minded individuals for accountability. 

If you're looking for a book that will have a lasting impact, this is it. 
📚 Do you know what book I'm referring to? 
📚 Have you read it? 

(HINT: the title is in my post)

Needless to say, I highly recommend it.

Wow, first of all congrats on obtaining 5 properties. The fact that you own them 100% if impressive. Most people scale by raising money via JV or Syndication. They give up equity but are able to create scale. If you are looking into private money lending I would worry about being over leveraged. If things go south having equity and a lower loan to value would allow you to weather storms.

Best of luck! Keep on rocking!

I started my career in the 2-4 unit space.   I love the fact that you can find unsophisticated sellers in this space with plenty of room to capitalize on inefficiencies. For someone looking to start their real estate side hustle or build a small portfolio I believe it's a great time to be looking for these deals.  

As a way to connect with other investors we created a tool to analyze 2-4 unit deals.  If you think it would be helpful please comment or shoot me a direct message and I'll get it to you.  We spent a lot of time on it so we are excited to share it!  

Cheers to a successful and fruitful 2024.  Reach out and let me know where you are at in your investing journey. 

Justin

Thank you Taylor!

Does anyone know of a 3rd party 506C verification service that can integrate with Syndication Pro?

Also, have you worked with them and would you recommend them?

Justin

Thanks Bryon!  Currently focused on certain parts of Minneapolis, Twin Cities suburbs, Outstate MN and Georgia (ex-atlanta).  We helped fund a development deal in Tulsa, we really like that market and are looking for acquisitions there.  We've identified a few other markets that we are just getting started in.  

Thank you! I bought another property in St Paul. Paid $189k and sold for $300k. Best part of that one is that I was able to sell to my tenant that lived in one of the units!