All Forum Posts by: Matt Faircloth

Spend 3 days with the DeRosa Team as we provide a grand tour of our 336-Unit property in Winston-Salem. Here's a high-level overview of what you can expect:

- April 26th - 28th in Winston-Salem NC

- Small event with only 24 attendees total! We aim to provide the most personalized and valuable deep dive we can.

- Hotel accommodations, food, beverage, and local transportation ALL INCLUDED

- In-depth property tour of a 336-unit value-add operation

- Receive personalized coaching and consultation during our full-day classroom session

- Jumpstart scaling your business with our preferred list of vendors, and other helpful digital deliverables

- Oh and did we mention VIP tickets to a minor-league baseball game with us?

One other thing, Matt and the team are happy to offer the BiggerPockets community 2 months FREE to our mastermind when you register for the retreat. This includes 1.5 hours a week of group coaching, digital resources, and deal flow. With a 3-day deep dive and 2 months of Mastermind coaching, you should have all you need to take your business to the next level!!

As mentioned above, the retreat is intentionally kept to a limited number of participants. So please don't hesitate to reach out to [email protected] if we can be a resource to you in any way.

Enter your information below for the full event details, testimonials, and pricing detail:

derosagroup.com/tour

Hey BP!  Matt Faircloth here.  You may have seen me on the Bigger Pockets YouTube page, read my book "Raising Private Capital" or attended my Multifamily Bootcamp produced by Bigger Pockets!
I am coming to the Lancaster area for business and thought it would be fun to have a meetup with those in the local area!  If you are local to Lancaster, come out and talk some shop with me and other BP members.  Hope to see you there!  Please RSVP here so we know how many to expect, and spread the word.  I will be at the Lancaster Arts Hotel in the bar area, starting at 5 PM.

@Greg Moran thanks for the shout out!  The cheapest loans you will get are from your own network.

Since you read the book, please write it a review here, thanks!

https://www.amazon.com/review/create-review/?ie=UTF8&channel=glance-detail&asin=1947200984

Matt

@Roni E., thanks for the shout out!  Let's catch up soon!

@David Reo, glad you enjoyed the book!  Could you PLEASE leave it a review?  Here's the link:

https://www.amazon.com/review/create-review/?ie=UTF8&channel=glance-detail&asin=1947200984

With regards to your question, your summary on how to structure the loan is solid the only issue I see is that you don't list where you are going to give the lender collateral.  If you are looking to do this as an unsecured loan, you may have to pay higher interest or offer faster repayment terms.  You could also just use the money on a deal by deal basis if you are doing A to B to C wholesaling, so as you find a deal to wholesale the lender steps in and loans the money to get you to closing on the A to B transaction, and bridges you to the C sale.

?This was an awesome meeting @Justin Eaton!  Thanks for the opportunity.  Can you post the recording here?

@Annchen Knodt thanks for the shout out.  I agree with some other commenters here that the lender calling the loan due for a deed transfer is extremely unlikely and would most likely only be used if you fall behind on payents and they want a reason to come after you.

On your comment about title insurance on a Deed in Lieu, we've done them and as I call the new deed gets a fresh title insurance policy, so you are covered.  You should speak to a title company about this though.

I hope that helps!

Matt

Hi All!  Thanks so much for your interest.  This position has now been filled.

If you are interested please send your resume to [email protected].  Thanks!

We are seeking a Bookkeeper/Investor Relations Coordinator to join our virtual and growing team. We are looking for a team member who is a self-starter and has a passion for and a sense of personal satisfaction in performing accounting tasks and helping small businesses succeed. Responsibilities include both bookkeeping duties along with Investor Relations.

Essential Duties & Responsibilities

• Oversee and execute all day to day GAAP compliant accounting operations
• Daily recording of transactions

• Monthly reconciliation of all bank accounts
• Monthly, quarterly, and annual reporting preparation and delivery per CFO direction
• Manage accounts receivable and payable, ensuring customer compliance with invoicing terms, and our compliance with vendor invoicing terms
• Raise any concerns and recommendations to the CFO
• Enter weekly and monthly data inputs into financial analysis tools as directed by CFO

• Ensure all sources of revenue are collected on time and transferred through and to the appropriate entities, using Quickbooks Online (QBO), Roger.ai., or online banking tools
• Ensure all expenses are paid on time, utilizing vendor credit when possible.
• Ensure the correct and timely recording and reconciliation of all transactions such that reasonably accurate reporting can be pulled at any time, and highly accurate reporting can be pulled once prior month's financials are closed.  
• Responsible for providing the CFO all monthly financial reporting that is GAAP compliant.
• Oversee and administer the annual tax effort working closely with our Accountant

• Creating and maintaining Budget to Actual Reporting by Location and Class using Quickbooks Online Plus or Advanced
• Work closely with CEO and Fundraising team in maintaining and developing relationships with current and potential Investors.
• Manage the inbound investor inquiry and current investor process and find ways to go above and beyond to best serve our investors
• Data entry of Investor account information into Master Investor Database/CRM.
• Review all incoming investor subscription agreements to confirm all information is completed and key items included; tracks commitments and money raised.

• Assist in the development and preparation of presentations and marketing materials for investors such as pitch books, executive summaries, investor reports, etc.

Preferred Attributes

• Ability to prioritize and manage multiple responsibilities and deadlines
• Enjoys accounting and financial reporting

• Enjoys team interaction in a fast-paced entrepreneurial environment
• Excellent interpersonal, written and verbal communication skills
• Strong attention to detail
• Personal responsibility and desire to own assigned tasks
• Excellent written and verbal communication abilities (phone and email)

• Commitment to exceptional customer service
• Must be highly organized, proactive, customer-focused and creative
• Customer Service & Computer skills Required
• Good organizational and communication skills

Experience

• Associates or BS Degree in Accounting desired
• 5+ years of demonstrated ability working in and managing the accounting department functions of accounts payable, accounts receivable, bookkeeping (weekly recording, monthly reconciliations), and monthly reporting.
• Demonstrated expertise in Quickbooks Online Plus or Advanced; Quickbooks Certification is highly valued. 
• Experience using a third party online bill pay tools such as Roger.ai is preferred

• Strong experience with Excel is required
• Working knowledge of Podio and Investor Management Portals desired
• Knowledge of real estate and finance desired

The DeRosa Group and its subsidiaries is a developer and owner of commercial and residential property with a mission to “transform lives through real estate." DeRosa creates partnerships to finance select real estate investments and has a proven track record of providing safe, profitable investment opportunities to their clients.  DeRosa Group was founded in 2005 and currently owns and controls 20 million of residential and commercial assets throughout the east coast.