All Forum Posts by: Martin Rubio

I am looking for a CPA in Houston, specialized in RE investors, preferably on Multifamily syndication (as passive investor for now).

Any recommendations? (or on where to look for one?)

Thanks,

Martin

If you come to Houston there are plenty of good MF investors meetups. Just check BP's events or meetup.com - I regularly go to a few. @Michael Dang posted a good summary of meetings here: https://www.biggerpockets.com/posts/3454735/

Originally posted by @Kevin Brown:

Originally posted by @Martin Rubio:

Originally posted by @Kevin Brown:

Don't do a series. It's a pain in the butt. Just do a regular LLC and don't be a slum lord and have an umbrella policy

Did you mean one regular LLC per property, or one regular LLC with all the properties you would have in each series on the series LLC ?

I would just do one LLC for all residential properties. Maybe until like 20 or so properties and then do a different one. Then if you do commercial do one LLC for each commercial property separately. I'm not a lawyer just trying to use some common sense.

Thank you, great insight    ;)    :)

Thank you very much to everyone who commented. I was able to get a lot of insight and great information, and I am sure others will benefit from this discussion in the future. I did also find several great contacts that I will try to keep in touch with.

Special thanks to @Brian Burke, @Todd Dexheimer, @Account Closed, and @Michael Dang. Special mention to @Omar Khan's blog post, which I found very useful.

Originally posted by @Kevin Brown:

Don't do a series. It's a pain in the butt. Just do a regular LLC and don't be a slum lord and have an umbrella policy

Did you mean one regular LLC per property, or one regular LLC with all the properties you would have in each series on the series LLC ?

I do not qualify as an "accredited investor", so I heard I might be able to participate as a "sophisticated investor" in a syndication as long as it is not soliciting (I am invited to invest privately).

I would like to join one of those, in a way I can learn from the principals (i.e. review reports, ask questions on how things are done, etc.)

Can you guys comment on how easy/difficult are those to find? I don't have any contacts in the Multifamily space ...

After opening an account in meetup.com, when I try to attend this meeting there, I get an error saying "invalid member". Can you please reserve two spots (me and my wife) to attend?

I have been a BP member for a few months, and have watched/listened to every webinar/podcast I have been able to get my hands on. On those, @Brandon Turner usually mentions (for BRRRRs) that a desirable cash-on-cash ROI should be over 8% (ideally 12%), and that cash flow should be at least $100 per door. Both of those seem pretty reasonable, and I agree with them.

My question is regarding the parameters to get to those numbers. I have seen Brandon use the BP calculators to get these numbers, which typically take into account 25% of the rent for vacancy, property management, repairs/maintenance and capital expenditures; while others (i.e. local wholesalers) calculate them without taking those into account (i.e. Cashflow=Rent-PI-Taxes-Insurance)

Of course Brandon's approach brings more peace of mind, and make more financial sense, but I would like to hear some different perspectives on how everyone out there is calculating (and taking decisions) around these ... What is your ideal cash-on-cash ROI and minimum cash flow? (SFHs and small MFHs)

Thank you.

Newbie question: for a new investor thinking about his first buy, finding an interesting deal is difficult ... does it make sense to go to a wholesaler business like Sam’s? Or are the buyers for this kind of business only “big fish” (i.e. buying all cash, lots of money, etc.) ?