All Forum Posts by: Michael Skvorak

@Allan Smith Thank you for the reply!  I agree in not doing anything that could negatively impact your business.  It seems like with all of huge multi million $ commercial projects going on, that's where a lot of subs are flocking.  Hmmm, get a 3 year 18 story high-rise job with job security, or go sfh to sfh?  I am thinking of starting a meet up soon to see if it can attract any new contractors looking for work.  I guess I am just looking to do what you did and find someone I can trust and build a great relationship with them.  With all the huge projects going up in Nashville, the new investor starting out doesn't seem too glamorous.  If you happen to come across some people that are in need of work, spread the love!  The thing I like about this industry is everyone can help everyone so we all can win this game of life.  

Hello my fellow BP members!  I just want to thank the site and everyone on here who's been so helpful thus far.  I've learned a tremendous amount already thanks to forum posts, messaging strangers with questions, and listening to the BP podcast on a daily basis.  I am at the point now where I have found a business partner and we are constructing a business plan.  We have found that we have a gap in our network.  Finding a GC that A. Has room in their schedule and B. Is someone you can trust (doesn't over charge, shows up on time, etc).  I am the furthest thing from a handy man and will be outsourcing most of the rehab work.  Do y'all know of any contractors in Middle Tennessee looking for work?  OR do you have any tips on how to give GC's an attractive offer to ensure that they will work with you.  

I appreciate anyone who responds and am looking forward to chatting with you!  

Hello BP! 

I have a question for you all. I am conflicted at the moment as I am starting out in the investing world. I have heard pros and cons from both sides of the fence on the topic of: starting small and working your way up / snowballing to bigger deals OR creatively starting in bigger deals from the get-go because there can be less risk (still risk, just less in my opinion). I am an avid fan of Grant Cardone, and one of his rules is to go no smaller than 16 units (what do you think about this rule?). I understand that with that there is less risk for vacancy loss and the property has potential to produce more income creating more wiggle room for unexpected issues. On the flip-side, I know that you need more capital when dealing with larger properties and that is where the creativity would come in. BUT I have also heard many success stories with people in SFH and it can require less capital. You can flip to get quick cash to then use on larger deals. Dealing with SFH can be dicey because there is more emotion involved, where as dealing with commercial, the properties are assessed on how much income they produce. I know I am rambling, but could you share with me your opinion on the subject? How did you get started? What did you do right, what did you do wrong? What do you wish you would have done when you were in your early 20's?

Thank you for reading my forum post and thank you for your response!   

@Chase Louderback and @Taylor Ferrell I couldn't agree more that REIN seems seems like the right next step.  

I have not looked on LinkedIn yet though, I never even thought of that!  It seems like the REIN page, the REIN facebook page, the meet up app, and linkedin will be good places to check out.  I also couldn't agree more with being on the same page with your private lender.  If there is any friction or controversy it may not be the smartest idea to get into a large deal with that kind of energy going on.  I am looking to get into multifamily apartments, and as I do not have much cash on hand, I will be needing to partner on my first couple deals.  I would propose that if the private lender / investor take care of the upfront capital to purchase the property we'd negotiate an equity ownership deal.  55/45, 65/35, 70/30 whatever it may be.  My best scenario would be to find a partner who has the $, but not the time nor energy.  Which is where I would come in to add value by finding the deals, analyzing the deal and presenting it, and doing the ground work after closing to make sure the property continues to cash flow in an increasing trend.  After doing this once or twice, I will have the means to do deals on my own (if needed) and have a great reputation as a trusted investor.  I agree that a clear and detailed game plan upfront is necessary to being successful.  

@Dan Beaulieu Thank you for the reply!  I am familiar with REIN and will be joining soon!  I sent you a colleague request.  I would love to connect and ask you some questions.  

Thanks @Trey Golston !  I sent you a connect request.  Would love to talk sometime.  

Hey @Carmyn Cook ! Thank you for replying!

Yea, I am in the process of building a good team with people I can trust. Unfortunately it is a dog eat dog world out there, so I like to be very cautious. I’m hoping I can find some private lenders who are investor friendly and maybe even some who would like to partner on some deals in the future. What types of investment strategies are you using? Are you looking to invest in Middle Tennessee?

Hello BP!

I am newer to the Nashville, TN area (only been here since 2014) and am looking to get in contact with some Private Lenders.  I will be using creative financing for my future deals and would love to connect.  I am looking at mostly Multifamily commercial deals around 15+ units.  Bowling Green, KY also intrigues me, what do y'all think?  What are some key things I should look for when it comes to finding a good Private Lender?

I look forward to reading your responses!  Have a great night! 

-Michael Skvorak

Hey @Jorge Roman ,

I am looking to find slightly distressed properties to fix up to the standard in that area.  Then take a look at what is the best option : sell for a profit or hold and collect passive income via cashflow

Nice to meet you Daniel!  I am in Nashville, TN and new to investing here in Middle Tenn.  I am looking to network with as many people has possible: fellow investors to partner with, lenders (private, hard money), and contractors!  

What kind of deals are you looking for?