All Forum Posts by: Pat G.

@Todd Dexheimer.  Thank You for taking the time to post, really appreciate it. 

@Account Closed

Guys, Lots of great information, Thank You for taking the time to give feedback, this is a great start and now I know where to go next. Happy investing.

@John Jacobus Thank You for all that information and detail. I have one question, where would I get the basic requirements for foreign direct investment in the U.S. I am guessing an attorney, but without spending $$?

Again, Thank You.

@Ronald Rohde & @Alejandro Hernandez Thanks for the reply.

I have an opportunity to present an apartment opportunity to a foreign investor with several million dollars to lead. My question is, based on your experience, what are the key items (bullet points, talking points, etc.) that need to be in the presentation to increase my chances of success with this foreign investor? Basic property details and financial projections are a given. Thanks, in advance.

I have an opportunity to present an apartment opportunity to a foreign investor with several million dollars to lead. My question is, based on your experience, what are the key items (bullet points, talking points, etc.) that need to be in the presentation to increase my chances of success with this foreign investor? Basic property details and financial projections are a given. Thanks, in advance.

@Ryan VanDuyne Awesome question. First I would ask at least 2 PM (property management) companies for local rents to verify the 20-30%. You are most likely going to loose some tenants when you raise rents, try raising them slowly like yr. 1 3%, Yr. 2 5%, and so on. I would also find out why the rents are that low, which I assume you know. It has been my experience that you have to give some sort of value in exchange for the raising of rents. Make sure you have capital reserves of $250 per unit to cover higher vacancy during rent raises.  Good Luck

@George B. That is a great question, and most don't ask that. First I have to ask, you posted in a Multi-family forum which is commercial, so when you stated "getting a perapproval" that is typically done in residential RE. To that end, I would first pick either residential real estate (1-5 units) or commercial (5+ units). Then once you focus on learning everything you can about your chosen field. Each each field there are several different ways to acquire said real estate, then pick one way and become an expert at that.  Then find seminars, clubs and others doing what you want to do and hand out with them.  Good Luck!

@Andrew Jones It is going to be hard to change the tenants' behavior at this point, you could try but it will be an uphill battle. Talk to a real estate lawyer and see how you can get rid of him legally. Good luck

@Orkeem Davis I am confused by this deal. I hope that you amortized this over 30 years and not 8? I would make sure that your exit strategy is clear as far as a loan. Meaning make sure that you can go to a commercial lender and not a residential lender. As the others have stated never buy a property in the "hopes" of raising rents. My experience has taught me to buy on what the property makes today, not tomorrow or in 4 months, because I can guarantee that will be the longest 4 months you have even seen.  I am not a broker, lawyer or professional, just somebody with a ton of experience. Also, it sounds like you don't have an attorney on your side -I would never sign a document that somebody else's attorney drafted without having my attorney look at.

What are the taxes going to adjust to once you purchase the property? Just my two cents.