All Forum Posts by: Ron K.

Thanks all for the comments and link to the video.

Wade , your property sounds interesting, would you care to share the details as a case study?

Hello,

I am looking to get moving on investing in MF. I have joined a REIA (Lifestyles) not at a the super charge level, just basic.

I have read pretty regularly on these boards.

Lastly, I have analyzed a few deals and considered getting into some, but haven't pulled the trigger yet.

My main goal - first year - is to net a gain of $3000 a month in cash flow. I am looking to see if there is a standard investment amount - number of units, etc that would get me to that goal? I can see how I can do it, by smaller ones and twos in the SF area. But I am really looking to do MF, and am trying to hone in on a price point and number of units that will get me to that goal. I know all complexes are different and the economics vary, but is there a rule of thumb here that will point me in an area to go?

I am in Austin - central Texas, and would invest in Dallas, SA, Houston, Austin - areas.

Thanks for any comments.

Hello, I thought I would close the loop on this thread. The banks asking price was $171,000. I went in at $136,000.

Someone paid $177,000. It needed a (minimum) of $25,000 in repairs. The comps were $220-250k.

Onto the next one.

Hello all,

Thank you for the great guidance. I am making an offer, but at better entry point. Will update once some actions have transpired and determined.

Hello,

At what price point is this a solid deal?

Lake Travis ISD

It is in the Lake Travis area. We are getting $1 per sqft for rentals here and people love the school system and quality of life.
78734 zip

Hello

I wanted to run some numbers by you all.

Here is what I am looking at.

Home is bank owned due to foreclose -2000 soft
Asking $173k
CMA's for sale put it at $225-250k range at optimal condition.
Lease comps are in $1900-2000 month range.
I estimate 25k in rehab.
My goal is to hold and cash flow.

I am not going in at 173k, but what would you look at in terms of making these numbers work for you?

Thanks

I am a current and new member of LU. I thought I would share my experience and see if anyone has any comments or answers to the questions I will also pose.

I joined after attending a 1 free seminar. The free seminar was a sales pitch, but it sounded reasonable for what I would get for my $500.

There is good content and best practices and white papers and documents, case studies, and networking events. And, there is the 2 day training workshop.

The 2 day workshop was a combination of
1. Motivation - get rich, freedom from the job, etc.
2. Education on LU own system of investing for SFH and MF.
3. Basic real estate investment education.
4. Up sell on the $10,000 membership level.

I certainly feel I have got my initial money back in education and access to other members, contractors, content, and training.

Now, here is where I get suspicious. Because I want to go into the multi family investing, they tell me that they really can't talk to me, give advice, connect me into an investing group deal, unless I pay the 10k. They really did a bad job of explaining the value of the 10k investment. I mean, that is a lot of money, I would expect some real hard quantifiable services. Now, they do say that they hand hold you through this process, and I see that and it has value. But, again 10k? Plus, you use their agents that will make great money on this deal? Why not just add a 1 percent kicker to the deal that you pay when you do a deal? That seems fair and reasonable.

The fact that they pulled back on being able to offer advice on MF unless I pay this 10k fee seems disingenuous the original sales pitch of getting mentoring. Apparently not all mentoring.

Anyways, I know that an inexperienced investor could screw up big time on a MF project, so, I am wondering if there is an alternative to the 10k, or if other people with "Successful" MF experience think 10k is reasonable?

They also state that I should take my money out of 401k, even with the fees and taxes, and immediately invest it in real estate. I will need to look at the total costs on that one, but that was also recommendation.

The other members I have met so far have been great people with some good backgrounds and experiences.
Well, there you have my experience with LU so far.