All Forum Posts by: Jason Merchey

Boy I wish this thread had continued!

I might suggest you start with Brian Burke! His group is called Praxis Capital. Look them up, talk to the investor relations person Bob Dreher, and see if you like them. I think they are first class sponsors, and if you read his book you will probably agree. Start there - at least if you don't like them, you will know why you don't like them, and then follow whatever path you then choose for yourself. But I think Praxis is a fine start. 

Podcasts are a decent method to come across new syndicators. I had never heard of some folks until I heard their podcast. Probably Rod Khleif interviews the largest number of syndicators, but Joe Fairless and Theo Hicks (and now Theo works with Travis Watts, I believe) are very close behind. I bet Rod and Joe/Theo have done 1,200 podcast episodes and many are interviews with sponsors. 

Good  luck man, there are hundreds upon hundreds of folks who aim to have you invest with them; the issue is not finding them as much as vetting them!

Hi Justin. Basically, they will put 5-7 properties into a fund, all value-add, all in their preferred areas like D-FW. They prefer private lenders, they do the PM and the reno, they pay 5.6% the first year for one class of investor, and a straight 10% for another class (with no upside for those folks). Big complexes, Class A/B. Potential refinance in year 2-3. They take at least $50k, and have entry points every month, I believe. I'm definitely looking into it! @Ronald Rohde is going to help me see all the relevant details. 

I'm definitely looking into their current fund. That's their new structure. It sounds pretty good at first glance. Any others looking into Ashcroft and their new fund?

I'm interested in staying very local (Asheville), but assuming a place is local, I would be interested in other aspects such as the logistics and communication/QA, but more fundamentally how to find other investors. 

Hi @Abigail Gibson tell us more about "I think it's just a matter of time before they outlaw short term rentals here." 

Howdy. I'm not sure I love the word "zealous" but that's just me! Anyway, keep me in the loop and once I get my shots, I'll happily show up.

I think Nathan said it very well. Just remember what the situation really means, and act accordingly. But bottom line is, it's not a "protected status" -- that would be preposterous if it were. Just keep your eye on things like mental health/addictions and family, those are the gotchas that are less obvious than, say, race. Clearly no one in their right might would be like "No I don't rent to your race", but if someone has a substance abuse issue I'm thinking that you might not be able to simply say no because you think that sounds risky. Maybe someone will correct me but I have in my memory than things that can be classified as mental health oriented are fully or partially protected against discrimination.

I think you've gotten good advice so far. I do not believe from my landlording experience that you will be in any trouble by saying "Hey I'd like to rent to you, but this is a time when folks can park themselves in someone's rental and stay there rent-free if they lose their job or lied about it or whatever. Just like credit reports track a person's history, spending, activity, and track record, I am not willing to rent to someone who has no landlord references to check, etc." On the other hand, I would agree with where Karl is headed, and that is that there may be some legit extenuating circumstance that has led to this unique position. And remember, if a tenant is asking you to bet on them and pay as they go, it's one thing, but in the case of some folks with a serious disruption to their life, they might have the money to pay for 1st, last, security, and hell - second to last - and that would probably reduce your risk. 

It's a weird time, lots of things are happening to lots of people, the govt. is preventing evictions, and you're in the business of providing housing. On top of the usual issues with "tenants, trash, and toilets." Not an enviable position, by and large :) Move to passive investing in apartments and industrial and self-storage and data centers as soon as practically possible.

Have you thought of finding 1-2 partners and buying a place that is about 1/3 dedicated to bringing in cash via AirBnB or VRBO, and 2/3 dedicated to having a second home/vacation spot?? :) One can surely find a nice cabin in the woods or on a hill or on a lake not far from Asheville for $400-$500k.... Well, food for thought. It's not terribly "active" and this is kinda an expensive time to buy a house.