All Forum Posts by: Richard Young

@Dave Foster @Basit Siddiqi - thanks for the helpful details!

Hi,

Does selling a single family home and taking the profit to reinvest in a multifamily syndication qualify as a ‘like kind’ investment? I have held the asset for 6 years so it is not a short term investment.  Thanks

Hi-

I am looking for anyone who invested in lots in the Grand Belizean Estates subdivision, Ambergis Caye in Belize between 2009 and 2014 with a company called Grand Belizian Island, Co LTd.  

I did invest there as well and I'm primarily looking to share my experience with others who did invest there as well.  I have reason to believe there were misrepresentations and shady practices around this investment.   These lots were marketed and sold through a Remax Agency by John Turley and Dennis Kay.  I initially found this opportunity through the radio podcast realestateradioguys.com, which they marketed through.

If you invested here, DM me so we can talk.

Thanks,

Rich

hey jeb. I invested in ambergis caye a few years ago but in land.  I’m base d out of long beach as well.  Message me if are interested in connecting to share notes

nice work and well written post.   Simple yet effective

Great topic and post @Account Closed

I am a relatively new to apartment investing and am looking at a property outside of Chicago with another investor.  It is advertised as a 10 cap  and the neighborhood is a C/D class.  Our thought is that having stronger positive cash flows protect the investment and potential downturns in the market.

I'm also curious what type of deal/property you would still do in today's market given your knowledge   and opinion?  What would constitute  a "good deal"?

Appreciate your advice!

thanks for the posts. 

Has anyone worked with triviewproperty?   They manage properties in oak park and surrounding areas as well. 

Hi,

Does anyone have any good property management referrals?  I am ideally looking for a medium sized company that is experienced in multi-family (30+ units), reasonably priced and knows the Cicero area well.

Thanks in advance!

Rich

Hi fellow BP mates,

I have a few single family homes that I use local property management companies to manage for me since they are not local to me.  I have kissed a lot of frogs to find the right property manager with the level of integrity and professional standards I expect.  Since these properties are far away from me (memphis and I live in California), I have been thinking about employing some 'auditing' practices to help me verify that they are making sure the property condition is being maintained.  For example, I have thought about putting a craigslist ad or fiverr.com posting to hire someone to go by and take pictures of the properties and email them to me. This would allow me to get an instant view of exterior condition of the property as well as the exterior maintenance to see if the property manager is regularly checking up.  Obviously this doesn't help with the interior.

I also thought about getting the phone #'s of all the next door neighbors, calling/introducing myself and telling them I am the owner of the property.  I would tell them that I care about the condition of the property and neighborhood and if they have any issues with tenants or upkeep of the property, to call me.  Since they are vested in the neighborhood, I would think they would be the best resources available.

Does anyone out there in a similar situation as mine have other tips or best practices that you use to keep your property managers honest?  My motto is to trust but verify!

Rich

Hi Sid-

I signed up as a student of Duncan Wierman's RE investing course known as 

Duncan Wierman's Platinum Virtual Investing and Marketing System

.  I did not find value in it and stopped about halfway through. He would not honor any refunds.  I also would not recommend spending money on this course (about $1500) as you can get most if not more information from bigger pockets.  It is a typical RE guru type of program where he pushes information on various RE strategies and steps to follow in automated emails.  He then attempted various upsells on having you spend more money on more private coaching, etc.  The biggest red flag:  When I asked Duncan how much actual RE investing he was doing at the time from the training he provided, he said he wasn't doing any and was focused on different investments.  I should have walked away at this point.   I am not someone who typically goes through the trouble of discrediting any service or program publicly, however I did feel like this was a waste of money for me and want to make sure that others are aware of my experience.

Hope this helps.

Rich