All Forum Posts by: Kyle Mitchell

@Brian Adams thanks for the feedback.  Don't think its a deal killer but definitely wanted to get other peoples feedback.  It seems like a mixed bag, ultimately I need to confirm the income in some way just to know what I am going into.  The pro-forma is one thing but knowing where you are starting is important.

Thanks @Chris Mason, I have also asked for a Schedule E and they are declining that as well.

@Henri Meli I don't think there's a law that states you have to give anything during due diligence, is there?  So when I ask for copies of leases, contracts, warranties, etc.  Why would they have to give me anything?  

@Chris Mason I am asking so I can confirm that what they say the property is generating in income is what it's actually making.  

Hi everyone,

Has anyone come across the seller not providing bank statements during due diligence?  Is this a red flag or something that is common?  Just looking to see how hard I should be pushing on this issue.

Thanks,

Kyle

This group is for any interested in investing in out-of-state multifamily apartments.

Are you interested in the financial power of multifamily real estate? Are you new to Real Estate investing but don’t know how to start? Are you an experienced investor with properties in LA but aren’t getting the returns you desire? Are you interested in cash flow, value-add properties, and opportunities outside of CA? Are you an investor and looking for alternative ways to make money? Are you an action taker looking for your next apartment deal? If so come join us. We invest in apartments in markets that simply make sense (or dollars!). Apartment investing is a team sport. So come join the best team in LA.

We hold monthly meetups across the LA area. Locations and times include

West LA: 1st week of the month
Long Beach: 2nd week of the month
South Bay: 3rd week of the month

Day and times vary by location. For the most up to date schedule and venue please visit this page.

Hope to see you all there!

URL: http://www.lasoutofstatemultifamilyapartmentinvestors.com(http://www.lasoutofstatemultifamilyapartmentinvestors.com/)

FB: https://www.facebook.com/groups/lasoutofstatemultifamilyapartmentinvestors/

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This meetup is for anyone interested in networking with other Multifamily/Apartment Real Estate Investors. The format will be an open round table discussion where each person will be able to ask/answer the following questions to the group. The goal is to add value to each and every person and to help with any needs/issues they may be having in Real Estate at the current moment. -GOALS - What are you doing right now that will move you forward in the next 30 days? -RECOGNITION - Describe what you accomplished personally, or in your business, this week. -NEEDS/WANTS - Ask for anything you need. For example, "I need to find a good CPA or Property Management Company" or "I am looking for a deal with this criteria" -OPPORTUNITIES - If you have a deal or an opportunity for the group you can let everyone know about it and see if anyone would be interested in hearing more or even partnering with you on the deal. This group is specific to Multifamily investing and those who want to connect with other like-minded individuals in this space! This meetup will be hosted every 1st Wednesday of the month (with some exceptions that will be noted) at the TGI Fridays located at 12721 Towne Center Drive, Cerritos, CA 90703.

Hi everyone,

Looking for everyones thoughts on step down vs YM prepayment penalties.  Would love to hear what you all think.

Thanks,

Kyle

@Stuart Tollison I would highly recommend Brandon Hall, his website is www.therealestatecpa.com.  He has helped me out a lot.  Good luck!

@Gina Stern It's call the Out-of-State Multifamily Apartment Investors Meetup, we have 3 chapters.  Long Beach, South Bay and West LA.

@Gina Stern I would suggest starting your own meetup.  Rest assured that there are other people looking for the same thing you are.  We did this out in SoCal and it's been great for us, we are now at 9 months and counting!