All Forum Posts by: Patrick Kendrick

Anyone out there familiar with this area and/or the market? Any insight would be appreciated. :)

Get your pilots license asap. In my opinion you should NOT pass up the opportunity to secure solid, life long rapidly increasing income in a growing industry with a serious demand for talent with flight time. No, brainer. 

Invest smart, invest slow, meticulously. Invest like your future depends on it, not your present. 

I’m a bit late to this but would be hyped to help. Reach out anytime. :)

I would be happy to help. Reach out anytime. :)

Hey man I would be happy to help. Reach out anytime. :)

@Dave Foster Outside of a long close date what sort of verbiage would you use in order to extend close until you have identified the replacement property? 

I always include comps in a “Property Report” in order to “help with some data collection”. I had two similar/near exact MFR properties being refinanced (BRRRR) across the park from one another. I offered my Property Report to each appraiser. One came in at 200k. The other, 127k. While there are many factors at play there is only one reason for such a massive spread, the human element. 100+ points of data and a wrong step in the morning leading to an appraiser stubbing his toe or a rude barista could affect your lively hood & bottom line. Hilarious, sad, and true.

Devils Paranoid Advocate: How much concern should be focused on exposure? We live in an incredibly litigious world filled with hungry attorneys and professional tenants. Knowing that, I personally feel my best position is no more than 40% equity. It seems to me that it’s best to keep each asset in a separate LLC w/ an umbrella insurance as lines of defense but that certainly isn’t foolproof. I suppose my question here is ..returns aside.. does it make sense to have a higher number of units leveraged or lower number paid in full when considering exposure? The universe works in mysterious ways so maybe it’s irrelevant but the universe is certainly something to take into account regarding the structure of your freedom number/bottom line.

The Credit Karma app is actually helpful and very user friendly. I assume it’s fairly accurate and has been a nice resource to help me and my wife stay on track.

Here. :)