All Forum Posts by: Justin Goodin

@Justin Goodin - I'd be interested to learn more about this. 

I want to call out some incongruities here, given that you just DM'd me asking to delete @Melanie P.'s direct challenge to you. 

1) Your post is literally titled "You Don't have to buy a 400-unit for your first deal". 

2) Melanie is calling you out on this one because the deal at the bottom of your "portfolio" page on your website (a reasonable person can infer that it is the earliest acquisition for Next Level Equity) is literally a 236 unit apartment building, which is a little incongruous with the title of your this forum thread you started. 

3) Melanie is directly challenging you, stating that she doesn't believe you were involved in the deal. And, alleging your response deflecting her challenge. 

4) You DM'd me asking to delete Melanie's posts. 

5) You are the most prolific contributor in this multifamily forum. 

You can see why this set of facts is setting off a number of alarm bells for me. My job is to preserve the integrity of this brand, and that starts with an open and honest forum, and the ability to be frank. 

Good operators deal with challenges all the time - that's how they raise capital from skeptical LPs, like me. 

You can put them all to rest by directly answering Melanie's question. I'd like to know now too.

Thank you for this. I see far too many newbies here ready to go start syndicating and buying 100s of units.... and they've never even met a tenant other than their neighbors. Sure, a few have gone out and killed it on the very first deal, but that is the exception, not the norm. Good advice comes from the norm. That's why they call them "Best" practices, not "Imma SLAY IT on my First Deal" practices.

I started with one dinky little Class C house in a so-so hood in 2005. Still own it to this day. Did I slay with it? Nope, and I never would have gotten someone to do a podcast for me. But... I'm still here in 2024. Lots of the "go big or go home" folks are not here because they went big, lost their shirts, then had to go home. You never hear about the failures, except maybe in the divorce decree filings because they forgot about their spouse and bankrupted their family trying to sprint before they learned to walk.

You are right. My first deal was a renovated duplex that i found on zillow. I didnt have a realtor. I just called the number connected to the posting.  I closed in October 2022. Still househacking. Hopes of purchasing #2 duplex end of the year.

What does it matter what I think about it? You come here and promote your company, Next Level Equity. You claim to do business with Integrity and Transparency. I'm asking you what does it mean when you list One18 Place (a 236 unit Jacksonville apartment) on your company's portfolio page? Does Next Level Equity own it now? Did it ever? 

You seem to spend a lot of your day here so it stands to reason this is a good lead source for your fundraising. I hope people thinking of sending you their hard earned money see your attitude and evasiveness and think twice prior to doing so. If getting a simple explanation is so difficult imagine trying to get answers about your money!

 Here's another, Justin. A question for you. What is Next Level Equity's involvement in One18 Place in Jacksonville? You list this development on your site as being part of your "portfolio." What does that mean exactly? Do you own any part of it now? Did you ever?

The syndicator's "model" if you could even call it that was broken when interest rates went up in 2022. How badly things are broken is starting to play out now. No syndicator has a track record that is worth anything in current market conditions. Nobody should consider sending any money to a syndicator right now. Just buy your own real estate. None of the syndicator deals, even the best of them, wound up having enough upside to compensate for the risk of having zero control of the investment once the money leaves your bank account. 

@Justin Goodin Who hurt you?

Just another "spreadsheets aren't real life" reality check.