All Forum Posts by: Tj Hines

@Jackie Escamilla

1. Should I take out a loan for a property like this? If so, should I go with my current lender or do I choose a different lender? (What condition is the property in? If it's in rough shape, more than likely you wont be able to get traditional financing. You may have to get a hard money loan, but from the sound of it, you don't have the experience. Hard money loans can be tough. One mistake and oh well there goes your profit. If you can find a way to partner with an investor who has some experience already, that may be better for you. It will mitigate the risk and cut down on the mistakes you would potentially make on your own)

2. How would I pay the contractor to fix the property? (Once you have a solid contractor you like and trust after vetting him or her, then you need to make sure you have contracts and lien waivers in place upon each payment installment you make with them. Whatever you do, don't give them all the money up front. Give them only enough to buy materials to start the job. If a contractor says he needs 50%+ up front - run my friend and never look back)

@Pedro Amador there are data sources that can provide you with a list of target properties that match your exact criteria. One is listsource. Leads are affordable on this platform. Or paid services such as, Reonomy and Costar. These service are pretty costly. Join your local landlord association. Get to know the other owners there. At some point they'll be looking to sell. Go to your local network real estate meetings. Build with the local investors there. Good luck on your journey

@Lloyd Loftis I believe @Ivan Barratt is in that market and has a pretty big influence. It may be worth to take some time and reach out to him.

@Michael Ealy what a post ... Great job again! Always super thorough! I love reading your post. Very cool. If you can't get motivation from this post, then well ... you know the rest! Keep dropping heat!

@Simon Hernandez, for a 5-8 unit property to get the financing you need, consult with your local community savings and loans banks, if you know the loan balance will be under a million. To understand more of how to underwrite deals, BP does offer a calculator in the market place I'm aware of, but have never used it. We use MB software to understand how the project needs to be valued. 

@Nick Newman, congrats! It's great to have options right? Very cool. I would either trade up or go the syndication route. NNN aren't bad as well. From what I'm hearing you prefer to be more passive than active. That's why NNNs aren't a bad option or a syndication. Turnkey's more than likely you will be paying near retail value with no value to add. Through a syndication you can do much better. Making sure you choose the right operator is key to be successful in syndications if you're passive. Good luck.

@Paul Smith use credit my friend to keep this simple. OPM on steroids

Hey congrats @Cal Rohrman! Curious, being it's a 42 unit, the numbers still made sense to syndicate? Reason why I ask, for deals that size usually a syndication doesn't make sense because of the fees. We would usually just JV something like that with a few partners involved.

Hi @Sippy Hira! congrats on your recent syndication deal. Very nice. Are you guys LPs or GPs in the deal?

As far as finding the right markets to invest in ... there are a lot of good performing markets out there. We tend to follow the jobs, wherever the path of progress may be. It doesn't matter whether they're in primary, secondary or tertiary markets. Looking for diversity there with employment. Are new jobs coming in the area as well?

We love the Southeast with our focus primarily in the Florida markets at this time. Good luck on your journey!

@Michael Ndjondo makadi cash flow in my opinion is what will help you achieve financial freedom. Option #3 may help you reach your goals much faster. Good luck