All Forum Posts by: Shay Ghafoor

@Mo Karim

That’s great Mo!

Thanks for the suggestion!

@Mo Karim

Thanks for the quick response Mo! Probably the best thing to do! I invested in a couple of large MF properties passively and that’s how they do it as well. They have thousands of units. This house is an oddball so I may use a management company. But on the new MF, student housing, and BTR SFRs I’m kinda doing it all. Have a few partners including the one from above that controls a few thousand units…for now I’m the investor, developer, builder, property manager. Wanted to get beat up from every angle. :)

Are you invested passively or syndicating yourself?

@Steven Wilson

That’s awesome Steven! HE sure does! Likewise! Glad we connected. Let’s continue the discussion. Keep up the good work! You do anything out of your home base?

@Mo Karim

Mo,

You are absolutely right about time and that’s reason I’m reluctant. At the same time don’t want to give it away.

Thanks for the Airdna suggestion! Numbers look interesting.

I would like to sell if I can get the right price. Do have it on the market. Let’s see how it goes. It’s an awesome house and location.

Are you managing your own rentals?

Regards

@Joshua Messinger

Hey Josh,

Thanks for the encouragement!!

Richardson does allow short term rentals. Would love to learn more and compare LTR vs STR. Pm you the address?

Regards

Shay

@Mo Karim

I believe Richardson does allow SRT.

@Steven Wilson

Thanks for your encouraging and kind comments!

The end goal?

Excellent question! I found that for me it’s always evolving! I’ve started multiple businesses over the last couple of decades. Been in the motel business, had some c-stores/gas stations, now have a few qsrs. I’m learning we investors have a life cycle as well. So the goal is to create the life we want to live. Basically, God, family, business. In that order. Some days I feel like I’m so close on other days so far away :). But thank God for my….with the above in mind to have the net worth and liquidity along with cash flowing RE that doesn’t require me working 16 hours/day like I use to.

Best Regards

@Mo Karim

Thanks Mo!

Your advice is spot on! I’m learning that it take the same time to make $100,000 or $1,000,000. Will be more focused moving forward, God Willing!

This project looked like it had plenty of meat on the bone when a handy man brought to me. He said he can rehab it all himself for about $40k. He was totally off…I had to bring my new construction crew to the job and $220k rehab, ouch! It was a 1960s house but new almost new :). New roof, electrical, plumbing, added bed room, bathroom, new doors and windows, all new kitchen….looks awesome! But God that Hurt :). Will post some pics soon!

Forgot to mention

Project 7: built and sold couple of SFRs in the same town as project 1 and 2 above.

Hello Bigger Pocket peeps,

I created my profile in 2015 and haven’t been very active on here. I’m not very smart and kind of slow. Over the last couple of decades, I’ve been in the motel business, owned several c-store/gas stations and now operating several QSRs. Since 2015 I’ve been wanting to get into rentals. I invested in couple syndications passively. One deal is going well, the other one Not so well.

I partnered up with a couple of friends/neighbors. Here are the deals that we currently have in the pipeline.

Project 1-(Hour and a half away from DFW metroplex): We recently did ground up construction on a student housing facility consisting of 44 bedrooms and 44 bathrooms kind of across the street from a D1 university. 100% occupied as of today. Thank God!

Project 2: it’s half a mile from project1 above. Shovel ready . Permitting civil engineering, architectural, everything taken care of. Loan approved on this project. This will consist of 80 bedrooms and 90 bathrooms.

Project 3: 13 acres land purchased on the outskirts of DFW metroplex, plat approved, got a meeting setup with the city. Looking to built about 48 built to rent homes.

Project 4: 79 acres land purchased, overlooking with the lake views in the same town as project 3 above which is on the outskirts of DFW metroplex. It’s in design phase. Looking into doing a large development there.

Project 5: Purchased 1 acre in the same town as project 3 and 4 above in the outskirts of DFW metroplex.

It already has about a 1000 sq ft rental on it. Looking into building 5 more small rentals.

Project 6: Bought a 1960s house in Richardson, which is in the heart of dallas. Fully rehabbed it. Kind of conflicted if I should Do long term rentals, Airbnb or just sell it. Any suggestions?

Sorry for the long post. Thanks in advance!

Best regards!