All Forum Posts by: Erik K.

I used to do my own taxes... until I got audited and ended up paying A LOT more than I would have with an accountant.  Like @Philip Hy my refund was less than what I paid my accountant but I know I am less likely to get hit with a large tax bill down the road.  I also have multiple businesses and properties in different states.  

Save yourself some money by making it easy for your CPA instead of trying to do it yourself.  An accounting software that is reconciled regularly definitely helps.

Hey @Jake Greener,

Your best bet would be a JV. Syndications only make sense if the purchase price is well over $1M. How much are you putting into the deal?

Most of my investments were in the Riverside, San Marco and Mandarin areas. Stay away from the north side, 32208, 32209. 

David Toupin's Deal Analyzer is the best I've seen!

https://www.obsidiancapitalco.com/dealanalyzer

I have a great deal for passive investors.  The tenant for this 19-acre property in Southern California is a publicly traded cannabis company on a triple net lease.  They recently spent $33M on the build out of a state of the art cultivation and production facility.  The second phase of the project was another $10M which will be complete in the next 90 days.  Cashflow from day 1 with no expenses!

Purchase Price: $102,000,000

Cap Rate Year 1-5: 10.79%

Cap Rate Year 6-10: 11.87%

Cap Rate Year 11-15: 13.06%

The improvements, crops and licenses are held as collateral.  The licenses alone are worth $40M.

Syndication or JV opportunity. If you're interested in learning more reach out and I'll send an NDA. I have a ton of information and would be happy to share.

Why smaller deals? I agree with finding partners in your target market but disagree with going it alone. There is more risk in relying solely on a PM to manage the asset. 

If you can bring the capital there are many syndicators that will bring you in on the GP. 

I'm with @Reno Puente, my wife and I also started out flipping single family and while we never lost money it was a lot of work for the amount of income generated.  Multifamily is great for both cashflow and wealth generation.  You have options, invest in your own properties or participate in a syndication.  The returns aren't as high but there is less risk and it's more passive.

Welcome @Indre P. Jacksonville is a great market. If you’re interested in assisted living you should check out Gene Guarino’s program. 

https://residentialassistedlivingacademy.com/about-us/#whatwedo

I think everyone agrees you need a new PM but you should review your agreement to first determine if you have an out. If you do, don’t waste time trying to get your current PM to conform but find another ASAP.

@Joel Owens would be a good resource for you. 

Let me know if you need help analyzing large multifamily, especially in JAX.