All Forum Posts by: Lucien Perreault

@Percy N.

We distribute on average 12% CoC in the first 2 years.

Does your job have significant volatility? For example, are you in sales and don’t really know how much you’re going to make each year?

What if you got into an investment that provided you steady cash flow every month that you could rely on while you chase the high earnings?

Raise your floor while keeping your ceiling extremely high.

Investing in multifamily syndication and funds is your answer. At Power Play Capital we want to help give peace of mind to people with volatile income streams. A bad year is inevitable, but if you have steady cash flow, you can easily navigate through it!

We’re here to help!

Good Evening Biggerpockets.

I am a real estate investor that is currently serving in the military. My biggest passion though is hockey.

I wanted to see if there are any other passionate hockey fans, players, coaches, parents, etc. in this community. I’d love to connect with as many of you as possible.

A dream project of mine is to figure out a way to connect real estate and hockey. I have some ideas but first let’s get a community established.

I run a semi pro hockey team in San Diego. Feel free to check us out at sdsuperhornets.com and on instagram/facebook @sdsuperhornets.

Can’t wait to connect with hockey real estate people!

Very Respectfully,

Lucien

@Danny Ricco

When using the VA loan to buy multifamily, you'll need 6 months reserves in the bank. You can also use your tsp to cover the reserves as well. The reserves are based off of 6 months worth of mortgage payments. Most, if not all, lenders require this.

When it comes to property management, have you researched property managers in your area? If not, I would begin that process and start having conversations with them.

If you go multifamily, you'll be able to be approved for more than 300k but the reserves could be an issue. To avoid the reserves, you could buy a large house and rent it by the room or run it as an STR while you're on deployment. Whatever strategy you choose, you'll need systems in place to support your business.

I'm happy to help you get it figured out. I'm active duty and own multifamily and have used the VA loan multiple times multiple ways.

My question is, who told you all of your entitlement is used up for the VA loan? Loan limits in Illinois are 726,200 for SFR, 929,850 for a duplex, 1,123,900 for a triplex, and 1,396,800 for a quadplex. With the balance you currently have, you can go after any of those. A lender who knows the VA loan can get this all situated for you without refinancing. There are some hoops to jump through but it can be done.

Good Morning BP,

I am starting to get into the private lending side of real estate after expending all of my resources. I have started an investment LLC and a contrarian idea I came across is a strategy where I could link private money investors to flippers and BRRRR investors. I would just take a fee for making the connection.

Is this a good business model and has anyone else done this before?

I would love to hear from those that have done this and what I need to do in order to set up shop properly.

There are plenty of people looking for private money where I am and I know people who are willing to lend.

Very Respectfully,

Lucien

@Katie Miller

My goal is to get 10 million dollars worth of real estate added to the portfolio this year. I’m currently at 1 million therefore it’s time to 10X!

 That's awesome and you picked a good up and coming spot! I also live in Chicago and I house hacked when I moved here in 2021. House hacking is the best way to get started especially when it's done with small multifamily. You'll be on your way in the game in no time.

@Danny Polanski

I see this having a couple effects n the long term. Number one it will force the middle to high middle to class to move to up scale areas but in order to afford the area they will have to downsize their home potentially having to live in a luxury apartment versus a SFR. Number two I see this creating a much great gap between the upper class and lower class. Landlords/investors will focus more on A class neighborhoods abandoning B class and lower in order to get around the background check. I would go out on a limb to say most ex cons cannot afford A class neighborhoods therefore the higher the rent, no need for a background check.

I believe this idea is dangerous and is just another form of virtue signaling by a select few. Hopefully state and local governments across the country ban this from happening.

I believe in second chances but I also believe in my right as a landlord to know what kind of background someone has if they want to live in my property. If I rent to a former murder and then he goes and does it again in my property, I bet I’ll be on the hook. Extreme, yes. But a fair thought as well.

@CRAIG LAMONT FOREST JR

This can definitely be done with proof of orders and a good local lender. As someone serving on active duty as well, i have become very comfortable with the VA pain and how it works. Do you already have an agent? I know multiple in socal that can also hook you up with a lender that can get you situated. DM me to talk more.