All Forum Posts by: Royce Hodnett

@Mike Dymski thanks for your response! Did you do a 1031 exchange with these? Or was it a refi to take the cash out?

@Brian Burke That is so awesome! Congrats on crossing the 2,000 unit mark. I really appreciate you sharing. Gives me hope that no matter where I start I can achieve my goals.

@Ben Leybovich Hey Ben! Sorry if my last comment was confusing. I was just saying I completely understand what you mentioned in your previous message. Was just wondering if you had any interesting stories to share with a newbie. Sorry for the mix up!

@Omar Khan thanks for your words of wisdom, Omar. That’s the route I’m planning on taking looking to find a person, or group, in my area to work with that I can add value to. How did you get your first commercial deal?

@Ben Leybovich Thanks for taking the time to respond! That makes complete sense. I realized that as I was learning more about syndication and what it all truly entails. Would you mind sharing one of your first experiences buying something commercial?

@Steve Vaughan That’s a really great approach! Sounds very similar to what wholesalers do to find properties. Is that your main technique to find investment properties?

@Steve Vaughan Thanks for your input! Would you mind expounding some on how you structured these deals? How did you approach and find the seller?

Hey, everyone!! I’m interested in hearing some stories about people investing in apartments of 5+ units without syndication. I’m pretty sure Jake & Gino started that way but would love to hear more stories about how people successfully invested in the beginning without syndicating. Thanks!!

Hey @Cody L.! Thanks for sharing your insights on this deal. I had quick follow up questions. You mentioned not being able to qualify for a SFH loan for 100k. So how are you coming up with the 20-30% down payment for the commercial loan. Is it money from other investments? Income from something other than W2?

Thanks!

Originally posted by @Mike Montana:

So ideally you want the past 2-3 years of P&L, the current Rent Role and or the T12 or trailing 12 month which is actually the P&L for the previous 12 month not necessarily a calendar year. With that info you should have what you need to start analyzing deals. Happy investing!

 Thanks so much for your insight, Mike.