All Forum Posts by: Leah Klint

Quote from @Account Closed:

@Leah Klint, Great point! Most sponsors are incentivized to sell the asset for them to have a payday, which always work against the investors that have long term hold vision. So, in all of the deals we sponsor, we structure our promote in both cashflow (after a hurdle) and capital events, so we are aligned with our partners' goals.  

 Tell me more how you think your structure better aligns with the long term hold LP.  

Quote from @Brian Alfaro:

Define long term for me. Are you looking for 5+ or closer to 10? 

I know a few sponsors who typically are longer term holders, although my opinion is holding too long (more than 5-7 years) is actually more risky depending on several variables. Happy to make an intro. I will say, if you are looking for cash flow in Multifamily right now, you're going to have a hard time (not impossible, but harder to find). Yields are tight, and even sponsors who promise a pref are going to have trouble hitting that throughout the lifecycle. 

If you're looking for cash flow, you need to look at higher yield asset classes. Think STRs, Car Washes, Industrial, Etc... Happy to make referrals to those in I know in those asset classes.

30+ yrs.  
If the asset is performing why sell. LPs don’t make the extra 2% on the sale 

Quote from @Carlos Ptriawan:

Quote from @Leah Klint:

I have done a few normal syndications deals. And now the properties are all fixed up and cash flowing and the sponsors are starting to sell in the 3-5 yr window. Now with cap rate compression, it is difficult to find a promising deal in which to place the proceeds. I get that the sponsors generally make the bulk of their income on sales and they like to show great IRR, but those aren't the ideal externalities for a long-term cash flow investor.

Does anyone have a solid recommendation for a long-term buy-and-hold sponsor? Moses Kagan types. It can be fund or deal by deal based. 

why not just invest in REIT and/or Syndicator Funds that manage multiple properties ?
Better you can also invest for "Funds of Funds" or even an Interval Fund. That will give non-stop cash-flow.

Partially out of principal.  If the assets are functioning and you have a low basis why sell. I don’t make extra on the sale like the GPs do. Looking to hold for 30+ yrs. 

I have done a few normal syndications deals. And now the properties are all fixed up and cash flowing and the sponsors are starting to sell in the 3-5 yr window. Now with cap rate compression, it is difficult to find a promising deal in which to place the proceeds. I get that the sponsors generally make the bulk of their income on sales and they like to show great IRR, but those aren't the ideal externalities for a long-term cash flow investor.

Does anyone have a solid recommendation for a long-term buy-and-hold sponsor? Moses Kagan types. It can be fund or deal by deal based. 

We bought a house at a tax auction that has no proper access to the road.  The owner of the house diagonally located owns the property on the other side of the house so our road access is really his driveway, essentially.  What is the best way to solidify an easement or access to the property from what is essentially a private road?

So a house is coming up on tax foreclosure in our purchasing neighborhood. 2015's taxes have to be paid before April 2nd or it goes over to the county. It is in mid flip and stripped down to the studs. 2015-2017 taxes and fees will be around 12k. Has anyone ever managed to pull off a purchase like this? What are the angles to get him to sell. Even if i give him 2,000 for it, it's better than losing it at the end of the month. I called the county and they are all good with it, just need the deed quit claimed over and pay them off by the 2nd.

So a house is coming up on tax foreclosure in our purchasing neighborhood. 2015's taxes have to be paid before April 2nd or it goes over to the county. It is in mid flip and stripped down to the studs. 2015-2017 taxes and fees will be around 12k. Has anyone ever managed to pull off a purchase like this? What are the angles to get him to sell. Even if i give him 2,000 for it, it's better than losing it at the end of the month. I called the county and they are all good with it, just need the deed quit claimed over and pay them off by the 2nd.

Party in SW MI....  Great to have you. Let us know if you ever need anything

Haters be hatin

We have found that at least 3/4 of our circle don't get it at all.  Some drifted off and the rest just tilt their head to the side.   We are working towards FIRE too. So when they find out we don't have cable they lump you in with the Amish and doomsday prep-ers.  Good times, press on.

We are working on setting our next set of 1, 5, and 10 year goals. This will include a defining of scope for the first time. it had always been do the next thing.... which apparently works sorta but leaves a big gap of knowing what is or isn't the "next thing".

Here is a list we are working on of all the Real Estate related paths and side paths and rabbit trails. I am pretty sure you could just carve out just an item or two and learn everything about them and only do that. Some of them are listed as more of adjective/adverb additions to other activities.

Looking to see if we missed anything major or if you have some suggestions for our scope and goal setting.

Really trying to figure out what we both want to do. We have done about half of these and each liked different things or parts of things. 

Buy Hold
Buy Hold Rent
AirBnB
Fix n Flip
Live in Flip
Passive investment
Wholesaling
Out of town
Out of Country
FSBO
REO
Short Sales
Pre foreclosures
Bulk REO
Condos
Self Storage
Burned out Landlord
Land
Land splits
Single Family
2,3,4 Plex
Apartment (small)
Apartment (large)
Mobile home on land
Tax Liens
Buy Notes
Trailer Parks
Real Estate Agent
Appraiser
Flip Manager
Property Manager
Home Inspector
New Construction
Seller Financing
Hard Money lend
Hard Money Borrow
203k FHA Remodel
Builder Leftover Lots
Buy/sell
Manufactured homes
Tiny Houses
Space conversions
Fire or Water Damage
Bankruptcy
Code Violations
Death/Divorce/Disease
Farming
Mineral Rights
Commercial (small)
Commercial (large)
Industrial
Hotels
RV/campground
Tunrkey investment
Business Cards
Small Partnership
Self Directed IRA
1031 Exchange
Land contract sell
Land contract buy
consulting
Mobile home no land
Section 8
Student Housing
Condemned
Roof Problems
Travel Flip
Landlocked
Smelly
Out of season
Moving Buildings
Foundation issues
Buying the Right of redemption
buying from out of state owners
Cat piss