All Forum Posts by: Ryan Shyng

Hey @Vincent Crane! What time is this at? Time zone appreciated :)

Hello,

I have the potential to buy two properties in Indiana, both at ARV of $117,000 and 20% down. One in Indianapolis, one in Alexandria.

Indianapolis property - rent 1050/mo 3bd 1bt, Alexandria property - rent 900/mo 2bd 1bt

Same property manager in place @ 8% for both

Thoughts?

Hi @Brenden Mitchum, thank you for that! It is true, REI is not a get rich quick thing, deals won't come left and right. I am a naturally eager person, but am willing to be patient and work on it every day. I will also definitely be employing off-market strategies once we get there but those are harder to do 2000+ miles away haha

I love that Atlanta is a hot market, truly can't wait to get there for reasons outside of real estate too. Thanks for your post, it was encouraging and informative! I will probably plan to set an aggressively wide radius of anything a 30 minute drive from the Atlanta circle since I'm no stranger to those types of commutes being in Los Angeles... From what I've gathered, the north is nice but expensive, the south is growing, the west has opportunity neighborhoods, and the east is all over the place? PLEASE correct me if I'm wrong.

Hi BP, I have ~6 years of analytics experience and have extensive experience in creating automated Excel documents that allow for easy visual calculations and/or understandable workflow organization. I actually even made my own rental property calculator before learning that BP had a much prettier version.

If you like to use Excel but don't know how to set up what you want or think what you have can be done better, feel free to reach out. Maybe I can help! The keyword there is "maybe". :D

Sorry I realize now you already answered my first question ><

@Jay Trotman

That’s sick! What area did you find this? Also did you have contractors lined up or did you find them afterwards?

@Josh Stralko

I feel the exact same way brother. Really not seeing anything on market that I could pull money out of it seems. If anyone can prove us wrong please do!

Hi everyone! Thanks for all the support! I can see a bright future coming up already :)

@Marlen Weber thank you! I've done some reading on apartment syndication including the article you linked and listened to the BP podcast 324. 

It seems to be similar to a multifamily buy & hold strategy, with the exception of much bigger numbers, the need for limited partners due to high $ amount, and the profit split between partners. 

Since I do not yet qualify to be an LP to be involved in apartment syndications, I would need to be a sponsor or general partner, is that correct? So my value add would be the workhorse aspects of a deal like finding them and then being project manager throughout the deal? Am I missing anything?

Will do Greg, looking forward to it.