All Forum Posts by: Roland Glenister

Wow, thank you BP community for all of the valuable advice.  You’ve all given me a lot to think about and I feel confident now about passing this one up.  The point on syndications is well taken.  Definitely something I’m doing my research on!

@Anna Laud thank you for your thoughtful reply! You’re absolutely right... the cash isn’t here now but will be, and this deal is here now but a deal will be there later. Be patient, build my house and cash reserve, and make a well positioned move. 🙏 🙏 Thank you!

I've come across a deal for an 8 x 1 BR 1 BA unit apartment complex at 100% occupancy with rents currently under market value.  It's near a hospital that employs a lot of travel RNs and a small university so I'm confident that it can stay rented.  By the numbers, it will cash flow $1,700 per month as is even after factoring in vacancy, cap ex.  A ton of rehab potential as well.  

The problem is that I am a physician getting ready to finish residency training (low cash on hand currently but will make $500K+ in my first year out) and I am in the process of building my own family home, something my wife has anticipated since I was in med school.  It's nothing extravagant and well below our means, but the issue is timing.  The property has only been listed 24 hrs and I know it will go fast.  Any advice on how I can make both of these deals work simultaneously?  Estimated completion for my home build is June 2022.  I'm concerned that if I get a loan for this deal now, it will affect my ability to get a mortgage for my house when it's completed.   

I am a former Army Officer turned internal medicine physician recently out of residency training looking to get serious about developing my portfolio. I am a voracious reader (slash youtube video watcher) and thanks to BP, I have been able to acquire the basic technical knowledge required to identify, assess and initiate a deal at a fairly rapid clip over the past few months. Now I need some help getting the training wheels off!!

I am currently working on building a strong base of capital through my medical career. As an internist, I typically work 7 days on/7 days off which essentially gives me the opportunity to have 2 careers at once (and the freedom to add on shifts as necessary to quickly fund a deal if needed). I’m passionate about medicine and it is an extremely rewarding profession, but the emotional weight of being a healer takes a toll. Real estate is a new hobby of mine that I hope will grow into a means to support my children and grandchildren throughout their lives.

My wife has worked in luxury multi family real estate for the past 11 years which fully supported my family throughout medical school and residency. She currently serves as regional manager for a portfolio of class A properties in the Dallas/Fort Worth area and works closely with some of the largest investors in this market.

I plan to start small, but quickly and scale up. As I practice running numbers and scenarios through, I’m often left with little details that need to be fleshed out a bit more thoroughly before making my first offer. Although my wife has many connections in the industry, I’m more interested in a few close contacts to bounce ideas off of and help navigate the smaller markets where I can get some skin in the game!