All Forum Posts by: Michael Doyle

Investment Info:

Large multi-family (5+ units) buy & hold investment in Moline.

Purchase price: $1,900,000
Cash invested: $52,000

My partners and I were able to creatively finance this 42 unit from a client of ours we did work for

What made you interested in investing in this type of deal?

The seller was a client for my contracting firm and he wanted to sell the property to someone he trusted and had a good relationship with

How did you find this deal and how did you negotiate it?

The seller is our customer and we negotiated seller financing on the down payment

How did you finance this deal?

Seller financed the down payment and a 5 year balloon on the primary

How did you add value to the deal?

The seller had already rehabbed

What was the outcome?

We are cash flowing already in the 1st year and have had offers above our purchase price. We are holding this one

Lessons learned? Challenges?

1.9 million seemed absurd for us to buy but with the sellers help and the help of bigger pockets, we were able to learn the the deal is in the terms

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The lender held the portfolio from the seller prior and was very helpful in us putting the deal together. Community bank

Hello all. I am looking to have a coffee meet up on Friday morning. Please feel free to reach out if your available. Would love to meet new and old investors and learn and share. Blessings and see you Friday! I am in Waukesha WI

Hoping to find an in person or virtual meet up in the Waukesha or Milwaukee WI area. I have set a goal to expand my friends base and enhance as well. Coffee is on me. Who can be available and when?

Thanks

I have been a Pro Member for going on 2 years. I am a partner in a 42 unit multi family investment. I am also a business partner in a roofing firm.

All that to say that after a goal setting retreat with my wife we have decided that a great place for me to accelerate my learning and experience is go get a side hustle. I am 53 years old and want would love the opportunity to work with local investors and earn extra income to put towards future investments.

I want to learn more about you and how I can be an asset to your business.

Thank you for reading and please reach out to me if you would like to discuss

Michael Doyle

Waukesha Wisconsin

Looking for information on location for Air BNB. My wife and I would like to eventually transition to NC and want a neighborhood we could see us living in

My wife and I just finished our 1 thing couples goal setting retreat and a 5 year (or sooner) goal keeps popping up with us. We want to relocate eventually to the coast of North Carolina. With this in mind, I committed to learning more about the real estate market there. She and I have decided that a good place to start for us is probably buying a property to Air BNB there. I am looking for geographical insight to the markets. Any help is appreciated and I look forward to an insightful thread.

Thank you

Michael

I have a seller who wants to do business with us. he has 42 units that generate 326,000 rents annually. He wants 1.9 million. Whats this worth?

Is anyone else experiencing problems with the system today? I cannot get a rental property analysis

@Vivian Doyle

Hi Viv. I am looking this over and it doesn't appear to be a positive cash flowing deal. I don't understand why PMI is there but hopefully someone can help with that

@Joshua Thibeaux

My experience that I was lead into was I went to the free one day, paid for the 3 day and then spent 10's of thousands for the mentor and classes around the country. I got things out of it and even took some action but the luster eventually wore off. 1 year later, I discovered bigger pockets, read several of the bigger pockets authors books and can say for me, that this has been worth much more than all I did previously. and am taking action today. My 2 cents