All Forum Posts by: Miles Presha

WOW...Can't believe I sent this out 2 years ago.  Thank you all for responding!  So much has happened, but those of you ou there in Ohio or the midwest who still have info to share regarding:

Multifamily properties for sale

off market listings

marketing packages I could possibly look at

Anything I you'd like me to show my L.A. investors

Hit me back!  I'll be working on contacting you all directly!  Possible to do deals out there from Cali?

John, Lane, Brian, Vince and Jeff: Thanks for all the advice, guys.  I understand how key it is to build a team, and Vince, thanks for the specifics on building trust.  Brian - I now see how the value I add /will add in the future works like an investment firm.  I'll keep working on generating deals, and will be working daily to strengthen my knowledge and skills in this arena.  Please continue to comment back on this thread if you think of anything else. I'll keep plugging along.  And Jeff - great talking to you this morning.  Here's to more deals for you all --

Thanks for all the advice, guys.  I understand how key it is to build a team, and Vince, thanks for the specifics on building trust.  Brian - I now see how the value I add /will add in the future works like an investment firm.  I'll keep working on generating deals, and will be working daily to strengthen my knowledge and skills in this arena.  Please continue to comment back on this thread if you think of anything else. I'll keep plugging along.  And Jeff - great talking to you this morning.  Here's to more deals for you all --

Cheers,

Miles

I'm working on multi family investing: marketing, connecting w investors, reading everything I can.  A few questions:

How does one transition from newbie multi-family investing to syndication?  Is there a huge difference and /or transition?

What do you recommend as far as unit count for beginners? Duplexes first, or start higher?

How do you work deals outside of your city?  What type of networking or communication is involved?

I've done my first mailing, reading about creative financing, and hope to evaluate smaller deals this week.  Meeting w investors next week.  Am I on track?  Advice?....

I keep hearing about buying units ISO g none of my own money. I have a lead on a possible awesome deal: 17 units, most Of which are vacant and need repair. Possible purchase price of 500k.  Can this  be done with none of my money? I don't have any by the way, but know plenty of people that do  what are my options?

Victorina...

I'd love to hear how you do in the auction.  I, too have read all the website info and sent he free videos.  I'd like to take the next step with liens but want to hear what you thought.  Are you going for deeds or certificates?  Are you putting up a lot?

@ Rick - you can create a promissory note to sell mobile homes to end users.  I don't think you can charge interest, however you can create an unsecure note between yourself and a buyer to get you monthly payments.  I just bought my 2nd mobile home, will clean it up and then re-sell.  If all goes well I'll more than triple my money in the long run.  It will take lots of deals to generate good cashflow, but it seems possible to close at least one of these per month, at which point I'll be making more than my salary.

Definitely ask John Fedro your questions.  He is the guru of mobile homes and will wrute you back for sure.  I reached out to him a few times before I got started and it was very helpful.

Good luck.... 

@Ned Carey

 thanks for always responding.  The software promises to give insight into the due diligence process, and also helps with assignment purchasing.  As a newbie - I really don't know how to locate the good deals for tax liens.  I have found sites with properties for sale, but most of them are under 2-300 bucks.  I'm guessing there's no house with those - but if there is I'd love to find out how to know.  Long and short I don't want to pay 1000 bucks for some program that won't teach me anything.  Also considering a Rich Dad seminar coming up in the fall on tax liens.  I'm sure it won't be cheap either....

Thanks for the tips, guys.  I read the 16% solution, which is a good start to the process. I've also done extensive research on the gurus, and even navigated around a few state websites.  There are liens out there, but the good ones are tough to nail down.  i will keep looking....I came across some software a lawyer was selling for about 300 bucks.  Thought about checking it out as it it much cheaper than these gurus.  Any thoughts?