All Forum Posts by: Justin Pumpr

Appreciate all the input! FWIW, I absolutely think there is value with having a coach, so I'm not debating that side of it. What I was looking for was input on how much people have paid for a coach. It sounds like a lot for some people. 

I spent almost $20k on a program/mastermind this year and it was the wrong program for what I wanted to achieve (scaling my portfolio with multifamily properties). I've also had a lot of terrible luck with properties I currently own, so my finances have taken a big hit. These reasons that are are holding me back from investing thousands more dollars. This is likely something I need to do though to really propel me. Like others have said, can I do this on my own? Maybe, but it'll be much harder and take much longer.

@Brian Adams to your point of if I deserve it or not....maybe I do, maybe I don't. Whether I deserve it or not isn't really important to me though. What's important is being able to buy my time back and real estate is the avenue I wanted to take to get me there. To me, the amount of work to get to a billionaire dollar empire is likely the same amount of effort, if not more than my W2, so then I'm just trading one for the other. I'm not saying I'm not driven, or motivated to be successful, but If I can achieve financial freedom with 100 units, then anything on top of that is a bonus

@Jordan Moorhead Do they do large apartment complexes?

@Paul Smith. Did you manage to connect with NARPM, or find another PM that you could recommend? I'm in a similar position to you were a couple of years ago

Thanks all! The main things I'm looking for are:

- helping me focus on a strategy/asset class

- gut checking my assumptions/predictions for underwriting

- helping me build my brand

At the moment I'm underwriting a lot of deals and submitting LOIs, but I don't have anyone to check my numbers for my underwriting. Nor do I really know what I'll do if an LOI is accepted. I'm in a mastermind group, so the hope is someone will help me once the LOI is accepted, but that's definitely some risky business.

I'm also looking at a LOT of different asset classes without really knowing which one to focus on. Do I look at 8-20 units? 12-40? 20-100? I'm not interested in having a billionaire dollar empire, I just want to have enough units to replace my W2 and live comfortably. 

In short I'm really just looking for someone to say yes you're doing this right, or no you're doing it wrong.

Hey all,

I've been investing on my own for a while and trying to break into the multifamily and apartment space. I'm in a mastermind that has people with good knowledge and I'm educating myself as much as I can, but I am still lacking some direction and the 1:1 coaching that I think I need.

I'd love to hear from people who have found success with mentors and who that was and what they paid for it? I've been quoted $7,500 for 6 months with one call and unlimited emails a month which seems insanely high to me.

Is that par for the course with coaches?

Hi @Kari Piecuch, I was wondering what your take is on the Mobile market these days? I'm considering apartment buildings down there, but the market vital signs don't look great (stagnant population and job growth e.t.c). I'd love your take on it though. 

Hey @Iraj Kasimi Did you manager to find a PM out in Huntsville?

Haha I also met with Oscar today and was hoping someone would have been able to provide their experience. It does seem like the 15% can be a one time fee as long as you keep expanding your credit with them. 

Has anyone closed with them?

Unlikely numbers, but not unreal. Again, just using them as an example. Could easily make it a 20% down payment at a 4% rate in which case the PML would lend $40k instead of $10k.

In that same example the seller would be in first position and will have the security of being able to foreclose on the property should the payments be missed.

The PML would would lend as a promissory note, potentially secured against a different property using cross collateral. 

The property isn't necessarily upside down if it's value is more than $200k. Lots of reason why a seller may accept these terms e.g. getting the price they want is more important to them than getting a lower lump sum