All Forum Posts by: Perry L.

@Vladimir Kotomin You can't purchase a DST directly from a DST Sponsor, you must use either: a commission based Broker-Dealer (BD) or Registered Investment Advisor (RIA).  

Hi BP community, Please keep reading through this intro to get to the guts of my question.

I have decide that I am going to purchase my first multi family property. I purchased my first home in 2012 and held for 8 years in the north bay and came out very well ahead after purchasing my next home in the country. Now I am after cash flow specifically and am looking for a minimum of $200 per month after expenses for my first rental property. I am not as concerned with appreciation as my goal is to buy and rent and hold and repeat. I currently run a construction company and through our business we are comfortable and are able to do pretty much everything we want....at the cost of 80 hour plus weeks for me. My goal is to eventually have enough rental income to not be so reliant on my construction business for all our income.

Now we are on the hunt! The problem is finding a deal in the North Bay of CA that cashflows is insanely difficult. Finding a deal that cash flows without buying for cash seems near impossible do to the large loans needed to purchase the crazy priced properties. after some research of other markets,we could buy a property for cash in Detroit metro or Columbus outright and cash flow on month one.

I really want to invest locally since I know the state very well but just cant seem to make the numbers work.

Should I stay in the hunt or move on to a different state that is landlord friendly and has properties that can actually be purchased with a reasonable loan or for cash?

Thanks!

I

Hello Everyone! 

A little bit about me. My name Is Solomon Nguyen. I am a Real Estate agent in Rhode Island and I am hoping to get started in investments soon, Multifamliies, Short term rentals, and commercial to be exact. I have spent the last two years watching bigger pockets and working for flippers and long-term hold investors to really understand the basics. I've sold 10 homes in my first year in real estate and see the amount of value and wealth that it has to offer. While I am still in college, I met a friend who also really wants to get started in real estate and would like for me to help him get started. His father sold a tech company a little while back and is just sitting on a lot of cash. They want me to begin helping them look for deals but in a state such as Rhode Island there is not much to go around, and if there is any type of deal, is not worth the money invested whatsoever. I would like to at least see an 8% return on their money (wouldn't we all) but really do not know where to start. They are open to the idea of expanding from Rhode Island into different markets in the south (Carolinas, Florida, Texas) but I have no contacts out there. If you have any advice or know anyone I could reach out to about this, I'd be more than happy to talk! They want to get a deal done asap as they are eager and excited! 

Thank you so much for taking the time to read this!

Hello,

I was hoping to find some lenders that is willing to cash out refi with minimal seasoning.  Can anyone help me find them?

Thank you.