All Forum Posts by: Kent Leach

Years ago I attended a weekend event in Atlanta called "How to get Lenders Fighting to Give you Money". It was all about positioning oneself to be bankable and get a large line of credit to do deals. Things have certainly changed, but a nice pitchbook will go a long way. You must have a track record and put it on display. Oren Klaf streategies will definitely help.

Real Estate is one of the few industries that is so well documented that you don't need a formal education to be successful. There are so many books and courses that it will make your head spin. Develop a habit of reading a book a week and you'll have an education to be proud of!

So many people think that real estate investor equates with Realtor. It's just not true. But if you want to buy and sell real estate while representing others, you will need to become a Realtor. But the majority of investors who rep themselves don't have a formal education in real estate.

@Brian Alfaro I second the motion. @Logan Freeman is your man.

@Eric J Platter These are good suggestions. You will see over time fewer and fewer 506b offerings because so many investors want to be able to advertise.

And conservative securities attorneys won't recommend 506b anymore to clients because websites and social media could be considered "chumming the water" and proving a substantial relationship is difficult as well.

506c eliminates so many concerns for the syndiator.

@Steven J. Umaña It's amazing how little interest there is in affordable housing. For the last year it has been a focus of mine. There's no doubt there is a need.

As usual, when the government gets involved the process get confusing and convoluted. I'm the developer of a LIHTC deal currently in TN.

I can tell you it isn't easy and you need a team of knowledgeable professionals to do these deals. And you better have a stomach for uncertainty and confusion.

Some partners and I have some concepts we are working on to develop affordable units privately. Building costs are the biggest deterrent. Advanced building technology hasn't decreased overall cost.

Whomever solves this problem will have opportunities everywhere.

Listen to @Michael Jones and let him help you. You need to leverage someone else's track record to get your first few deals done. Partnerships are key to getting into commercial RE.

@Alex F. I couldn't help but pick up on the fact that you are a Dave Ramsey fan. I grew up on Dave Ramsey as I am a Tennessee guy as well. Dave Ramsey teaches sound financial advice for the masses, but I have grown to disagree with some of his hard stances. Debt can be used responsibly, but he can't ever say that for fear of being called a hypocrite. And not all whole life insurance policies are evil. Just some thoughts.

@Dalton W. I would like to know where this building is located and if it's on the national register of historic buildings. I am currently developing a 50,000 square foot building built in 1942. It will become 42 units of affordable housing. 

This would be a huge undertaking as a first deal, but the right partners could do this deal. I'll message you and let's talk.

Honestly most the syndication attorneys are using the exact same template. And just about every syndication is set up 100% pro sponsor. You're best bet is to have experienced deal makers look at the merits of the deal. The paperwork is all the same, but the sponsors are not.

Tom,

I have been working on a similar idea. I am a physical therapist and my physician friends have invested with me for years. You have discovered the fund of funds strategy which I firmly believe is the best way to go. I have an advisor who has coached me on this and it can be handled rather inexpensively. PM me if you'd like to discuss.