All Forum Posts by: Nerissa Vento

Looking forward to this event!

I heard you can find people on LinkedIn would find investors for your deals but for a cost.  Has anyone experienced that?  I am looking to purchase another multi-family apartment complex in Texas and am always open to working with new investors.

Michael, we are looking to hold this apartment for a long time so the 5/1 ARM won't work but thanks for the option

Jon Thank you for your input, I appreciate it.

Knowledgeable BP members - Any other insights or advice?

Hello BP members,

My sister and I are looking to purchase a 3 family apartment complex in which she would be using her first time home buyers credit. We will both be living there and we both want to split the cost of everything 50/50 so we are wondering the following:

1.) Can we purchase the property in her name to use the first time home buyers program and then move it to a LLC that has both our names as Managing Members? We want to do this so we can show we each own 50%; therefore, when we go to buy more apartment complexes as investments, the bank will see this on each of our REO schedules (we want to build our portfolios so eventually we will not need to have a sponsor on our deals).

2.) Can we both then receive Tax write-offs/benefits if it's in our LLC?

Overall, we want to know if we each can have both tax write-offs/benefits and show we are 50% owners?

Any advice would help. We will ask our accountant and attorney but I want to be more informed before I know how we should approach this.

Thanks in advance for all your help.

Nerissa

Ned, that is really good to know that Lindahl does provide good analysis tools. I do agree with you that I would need an attorney to create a specific contract for each of my deals. I was more interested in the contract he has tenants sign.

I have checked out the IREM website and was able to see an example of the expenses books. You have to pay for them but it looks like there is a lot of information in them so it could be worth it. I checked out the CCIM website but could not find the spreadsheets you were talking about. Can you direct me to where they are located? Thanks for these websites; they have a lot of valuable information.

Jeff, I agree with Bryan that was a great post. In order to succeed, knowing your ‘why’ is very important because there are just too many temptations in life to pull you away from researching or analyzing deals. If there is no passion and focus, someone will never succeed in what they want to achieve.

Bryan, as funny as seminarland sounds, I can see how people there do get caught up in the ‘I can get rich’ momentum and not think how much time and effort you need to put into it. It sounds like you had and continue to have great mentors. Wish me luck in finding as successful ones as you did!

Jeff, Linkedin is a great idea. I am part of it but do not utilize it as I should so thanks for the push!

Ned, that is really interesting to know that the average success rate of gurus is 5-15%. I have seen many gurus but the reason I was attracted to Lindahl is because of the knowledge he gives you. I do not think I would do the mentor program because like Brian said, they can cost a fortune and it might be better to work with someone local who is currently working with syndicated investors.

What I liked about the Lindahl programs is mainly the deal analysis tools he gives (and I heard in the bootcamps that he does case studies of actual properties) and I like the contracts he gives. Are these really as great as I think they are?

I am not sure how the contracts are but they seem to be useful such as his "Never Lost In Housing Court Tenant Lease" and his "sample Business Plan" for Private Money. I feel that if these 2 alone are useful, that might be worth the whole cost of course.

Ned, since your partner has gone to the bootcamps and I am assuming has the courses, have you or your partner used any of the forms or analysis tools?

I will also check out the CCIM website, Ray Alcorn, Gene Trowbridge and Scott Scheel and starting up the syndication group here on BP is a great idea. I will post a topic there, thanks for that tip on that as well.

I have my homework cut out for me which is great!

I can see how a mentor would be a great way to gain knowledge and I am willing to help them out as much as I can. I can definitely see why some people might not want to help if you are not giving any value in return.

Is there a certain place I can go to find where syndicators are? Besides a local REIA which I think is great but it seems to have a lot of new investors.

I wonder why I am not getting more feedback on Lindahl but I am open to different people programs so thank you for that Bryan. I will certainly look into Alcorn and Block's programs.

Happy New Year to you and BP members!

Has no one on BP taken David Lindahl's courses? Has anyone heard of anyone else who has and what they thought about it?

I am really interested in learning about commerical apartment investing and Lindahl seems to be the best out there, am I wrong?