All Forum Posts by: Justin Elliott

@Brian Burke you and I have the same style.  When it comes to raising money being pushy doesn't seem like a good idea.  

@Jonathan Greene that's a good point. Maybe objection isn't the right name for it. It's more likely in the form of a question as in....Hey I like the deal but I'm worried there may be a downturn in the future that makes real estate risky.  

Hey Money Raisers!

I'm curious what your response is when raising money for multifamily investment deals when you're hit with the objection "I'm holding my cash because we are at the top of the market".  Specifically with C class multifamily.  I've had some success overcoming this but would love to hear what you have to say based on the assets and markets specific to you.  

Justin

@Jarvis Naylor

Hi Jarvis. I can recommend a local lawyer that specializes in landlord tenant law. If that would be helpful DM me.

Good luck!

Daniel. This is a debt raise and is common. If you DM me I can send you a recent deal structure for a debt raise that may help you structure yours. It’s from a deal that I was asked to be an LP in.

@Christopher Bell 15% cash on cash is great! How are you getting to that number?  Here's what I'm seeing:

$36,500 Down

Annual Income - $19,800                         Cash Flow - $900/ yr ?

" Expenses  - $18,900

.      Debt Service - $12,900

.      Taxes           - $5,400

.      Maint?             $600 ($50/Mo)

Hi I'm looking at the Elmwood neighborhood.  Right along I-75.  

Did you add value to the triplex you bought?  Would consider doing a 1031 to get into a larger commercial property?  If the goal is to have more units that may be an option. I.E. sell your triplex 1031 into a 6 unit. This assumes you have forced equity in the first property similar to a Brrr strategy. 

Hello BP. I’m an investor in Minneapolis but I’ve uncovered a few 30+ unit multi families in Cincinnati and I have interest in Dayton.  I’d love to chat with BP members locally about the market. I used to live there but I don’t recall some of the neighborhoods that I’m finding these deals in. If anyone out there invests in commercial residential and would be interested in shooting the breeze let me know. 

Thanks

Justin

Hello @Sam LLoyd , I thought your tip on being weary of brokers that offer to manage the property was interesting.  I've never purchased a property like that but I figure they have skin in the game and it was therefore beneficial to use that type of broker.  What negative experiences do you have with that you may be able to share?  Thanks!