All Forum Posts by: Douglas Dowell

Hello all,

What are the best front-range REIA group meetups??

  Many moons ago I did practice law so I would say you must not consider anything on Biggerpockets legal advice.

The issue is two-fold as I see it.  You can be right or rich per T Harv Eker.   

So, clearly, you probably have a slam dunk case for fraud however a civil trial would easily cost 10 to 50 k plus depending on the number of floors in your attorney's office building.  So you win a judgment?   How likely does Bernie Madoff junior have attachable assets? 

To be rich you have to have velocity.  For 10K I would chalk it up to the University of life and get on down the road. 

1.  The Complete Guide to Buying and Selling Apartment Buildings, Second Edition While focused on Apartments Steve lays out the justification for forced appreciation in any commercial real estate class.

2.  What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures, Updated Edition

3.  Foundations of Real Estate Financial Modelling

4.  Intent to Prosper: DUE DILIGENCE AND COMMERCIAL REAL ESTATE

5.  Best Ever Apartment Syndication Book

6.  It's a Whole New Business!: The how-to book of syndicated investment real estate

The Kevin Bupp Podcast, CRE Show with Michael Bull, Joe Fairless daily podcast, CREPN Podcast...

Hello @Adam Eckerman permit me to recommend attending any local ULI events and or NAIOP.    I would also check with the economic development council that is affiliated with the local chamber of commerce for names of active local developers.  I also would imagine commercial lenders will have some folks you can attempt to touch base with.

Thank you for your service.   Hard to go wrong with finance, economics or accounting.  At any rate, I would look at joining ULI, NAIOP, and ICSC.

I first must recommend seeking local counsel and this is not intended as legal advice.   

Generally, it is my belief that asset protection is a shiny object that is used as a reason to oversell services.   Sure if you are a physician or a general contractor there are reasons to have a complicated asset scheme to reduce exposure to a significant judgment in a personal injury case.   

However, most beginning real estate investors probably will be well served to use one LLC at most. Do honest business and have great umbrella insurance policy and 99.9 percent of the time you will be just fine.

The scheme you have above might be appropriate for the 100m estate but just plain overkill for the largest majority of investors.  The cost of maintenance versus the amount of risk reduction is quite silly 99/100 of situations. 

The core reason why we only lend to LLC'S is to completely avoid the issues of compliance with the post GFC regulations on lending. What better way to prove lending to an investor?

Depth of job base and especially the rate of increase.   Double bonus if its diverse.

I think Grant has said and I agree that Multifamily is priced for perfection currently i.e. way to expensive relatively. see  //grantcardonetv.com/articles/real-estate-too-much-of-a-good-thing

The next question which is tough to answer is where would you deploy the gain?  Possibly spec homes? Hard Money are two that make the most sense to me right now outside of commercial development.

I agree with other posters that hiring a great commercial broker is probably worth every dime of the commission especially if your key objective is time and maximum price.

The other approach would be cold calling bankers for a referral to a great commercial developer.  My suspicion is that after about 10 to 15 calls you will find 3 or 4 of the same names pop up.  Additionally, the chamber of commerce economic development staff most likely could suggest a name or two. 

If your interested I do have national player that might have an appetite for your deal if you direct message me I will be happy to point you in their direction.

I am Ichabod who is partial to Jayhawk Basketball so hopefully this is not dis-qualifying my entire post haha.