All Forum Posts by: Ned Carey

@Russell Brazil Wow one of the few times I get to disagree with Russell

                "And every syndicator really any choice but to underwrite that way."

Seems like they made a choice to ignore their fiduciary duty? They could have chosen not to do the deals. If the only investments available are bad investments, just don't buy them. Especially if you are buying with other peoples money. 

The assumption that 3,4 or even 5% rates would continue is laughable. Part of me thinks syndicators should have disclosed the exceptionally low rates, part of me thinks that is why it is limited  to accredited investors. Accredited investors should know that those were unsustainable interest rates. 

My company does. We have a bookkeeper to do much of this. There are applications that can scan receipts and do this for you but I have no idea of the reliability of them and how well they categorize items. 

I see the ads on Facebook but I just scroll past. I  never actually read one. 

Apparently some must work, as lots of new investors bought into syndications that have gone bust. That's happened despite the red flags.

@Mordechai Volpin  "Is there any real estate investment strategy that works well from abroad,"

If you are an accredited investor I would consider Private Placements also known as Syndications. You are pooling your money with other passive investors to buy bigger deals. There is certainly risk with this strategy to. 

If this interests you the most important thing is to find a deal with a strong sponsor. @Brian Burke wrote "the Hands Off Investor" available here on BP about investing in syndications.

@Gwen Williams welcome to BP. We have lots of active members here from the Baltimore area. You might check out Neil Roseman from Block M Investments or Hard Money Bankers They are two local hard money lenders n the Baltimore area.

@Minna Hu You can hand write on the invoice how much is for each property and then save the receipt to a file in the cloud. Most accounting software allows yo to break up payments line by line. We use QuickBooks and enter the total invoice amount and the amount pre property. In QuickBooks we set up each property as a "Class"

@Matthew Honzik That is interesting. I have actually been to Burkina Faso. Sometimes the opposite happens in lesser developed countries, bureaucracy slows down development.  

@Jadon Grant Sheds unlimited is one builder of prefab garages. I believe they are in PA. Our Architect recommended them saying it would be hard to build as cheaply as they can. You may have somebody in your area that does the same.

@Fabian Gage welcome to BP. We have lots of investors from TX to network with here on BP

@Jalen Gray there is the "FilePlace" here on BP. However some of those contracts are of suspect quality. If you want a contract, or advice on how to stay out of legal trouble have an attorney draw up a contract for you. 

I also suggest you learn about contract law so that you know what you are signing.