All Forum Posts by: Nicholas Burch

Thanks for the shout out Nate. @Nicholas Burch we just started Hartman - Virzi capital late in 2022 (hvcfund.com). Preparation started about 8 months before we incorporated. We used this time to build up a knowledge base on what we were getting into (in our case, multi family private equity/ syndication). I recommend books such as "The best ever apartment syndication book" by Joe Fairless, books on underwriting, fund raising, and market analysis.

After we knew what we were getting into, we then chose a target market and interviewed/ connected with 3rd parties to bring on our team, think Accounting firms, Securities atty's, property managers, local brokers, website design, back end software, etc.

We thought about LLC structures, property requirements, submarket analysis, and started to gather soft commitments from potential investors, about 1.2 million in our case.

After 6 months of "due diligence", learning and getting ready to make offers, we incorporated in June of 2022. Submitted a handful of offers over the next 6 months but did not close.

For the "finding a deal" part of your question, we are still searching. We have just deployed an off market acquisition strategy we are testing out over the next few months; mailers, cold calling, etc.

Hopefully I helped a little bit, but we are still trying to grow and close our first fund.

Would love to connect and go into more detail if you'd like.

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Quote from @Faridah Clark:

Quote from @Nicholas Burch:

Congrats on the first two and good luck finding the next. How did you finance the first two properties?

Also, if you have not already, consider reading bigger pockets books like ''investing with little to no money down'' and ''the book on rental property investing''. Both may increase your knowledge and give you more insight for your next move.

Thank you Nicholas,
I will get those books. The first was my primary home , I moved out and turned it into an investment property . I Acquired an investment mortgage loan to fund my second property.

Seems like a DSCR, HELOC or Cash-out refi is a good move for you. You can also dip into the JV, seller financing, and subject to arena.

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I want to do something similar.

The only problem is this, if you are not starting with your primary residence or investment property, coming out of the gate with startup or gap funding can be very risky. let's say you use a business loan for the downpayment on a property you would be over-leveraging yourself and accumulating large amounts of debt before you built decent equity on the property. Even worse if the market decides to shave off value from your property.

This strategy is possible though, I know people who do it! You just have to be very careful when positioning yourself.

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Pittsburgh, Pennsylvania

Congrats on the first two and good luck finding the next. How did you finance the first two properties?

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Not sure about the Canadian rules and regulations, but I check facebook marketplace and Craigslist. Sometimes Ebay.

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Toronto, Ontario

!!!Wow, Goodluck!!!

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Seems like you lucked out on that condo! Congrats!

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What are some goals you accomplished in RE during 2022? What are the goals you want to accomplish in RE this year? Small or big it doesn't matter, let me hear it!

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Try message desk https://messagedesk.com/

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Cleveland, Ohio

What are the specific reasons for your doubt? Yes, we are in a buyer's market. And yes financing is more expensive than in the summer of 2022. Sure, there is some uncertainty about the direction of housing prices.

If I was in your shoes, id be less concerned with the macroeconomics and more concerned with the local economics of your housing market ie Melbourne, FL.

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Orlando, Florida

All Forum Posts by: Nicholas Burch

Nicholas Burch has started 28 posts and replied 100 times.

Post: Starting a RE Investment Firm

Post: Want to invest in more properties

Post: Wanting to buy multi-unit properties

Post: Want to invest in more properties

Post: Best FSBO sites for Ontario, Canada

Post: Goals And Achievements

Post: "Don't Be Afraid to Quit!"

Post: Goals And Achievements

Post: Looking for a Good Real Estate Mass Texting App

Post: Is it a good time to buy a primary residence property in Melbourne, FL?