All Forum Posts by: Kayla V.

I also lent money to Matt back in February of 2020. He was paying until February of 2021, but that's when he went dark. He won't respond to any of my messages. 

He sent out a mass email with all investors bcc'd at the end of March that claimed he was going to start selling properties to service the debt, which made me hold on getting a lawyer involved. But I haven't heard anything yet and this thread is making me think it may be time. 

@Brian Burke I pre-ordered the book a while back and am working my way through it now! My husband and I have owned rentals but we recently sold our last one to capture the appreciation and had our first baby. We've decided at least for the next few years, we'd prefer to be passive to leave more time for family. I've been researching syndications and private lending for 6+ months and was frustrated with the lack of information for investors compared to syndicators. Thanks for writing this book!

@Remington Lyman That would be awesome- thanks!

Hi all- 

I'm looking into doing some private lending to a rental property owner in Ohio. I'd like a lawyer to review the promissory note and mortgage deed contract. Anyone have a referral to a lawyer familiar with Ohio laws?

Thanks!

@Greg Scully Thanks! I've attended Joe's conference here in Denver and have listened to his podcast so knew of him but hadn't dug around his website. I'll spend some time there!

@Andrew Hogan Asking for references is something I hadn't thought of - good point. As for having an online presence, do most sponsors make an effort at digital marketing (have a podcast, blog, etc)?

@Spencer Gray Thank you for this list! That's very helpful. 

@Luke Miller I figured part of it was just finding someone you trust but as an engineer, I like using data and numbers to convince myself. I'll definitely check out your podcast. 

Hi all! I'm interested in passively investing in large apartment deals. I already have connections to a few operators and have browsed their packets but haven't pulled the trigger yet. 

Does anyone have any recommendations for educational resources (books, podcasts, courses, etc) for how to vet the operator and the deal itself? I understand the math but need more information on what to look out for as red flags. 

I'm seeing returns of around 18% IRR for a 5 year hold- is that in line with what most are offering?

Thanks!

@Ryan Arth Correct. We could maybe push it to $150K if it was really nice, but I don't think the spread is there for the extra work. 

@Nik S. Good point on FHA- I didn't think of that. Think I'm definitely leaning towards just exiting. Paint the walls and make sure everything functions well and move on. Let a nice family put in some sweat equity if they want to make it prettier.

Thanks for everyone's input! 

It's on Mentor Rd, east of Merriman. We have pictures but they don't really show the crookedness. 

We currently have ~$85K into it and think it would be worth around $140K if we fully fixed it up, probably $110K if we just clean it up a bit and put it on the market. We're leaning that way since I'm concerned we wouldn't get top of market with the slopiness even if it had a shiny new kitchen. 

We're not interested in renting it ourselves- we've realized we suck at out of state investing and want to sell it and move the money to an investment closer to home. 

My husband and I purchased a 3 bed, 1.5 bath single family house builtin in 1929 in Akron, Ohio 44303, a great neighborhood with good schools. 

We bought it knowing it had significant structural issues. That has been fixed- multiple posts installed, french drains and a sump and wall bracing around the entire basement. They did jack up the main level and upstairs of the house, but it's still crooked. 

Our plan is to flip it, but I think a retail buyer will be turned off by the obvious jankyness of it. If you stand in one corner of the kitchen, you can easily see the floor drop away. Additionally, a lot of the trim is visibly crooked. 

I lived in Akron for a year and am now in Denver CO. In Denver, this crookedness would be a huge turnoff. We're unsure how much to fix up the house- do we put in a new kitchen, refinish hardwood floors and clean up the bathrooms (~+$25K) or do we just paint and pretty it up a bit and get rid of it?

For those of you who know the Akron market better than I do, are slopy floors a huge turnoff to buyers or somewhat expected in an area with older homes?

I grew up in Minot and went to NDSU. I've been considering Fargo as a market. Please add me to your list for those properties. Thanks!