All Forum Posts by: Xavier Randall

@Havan Surat...I see a lot of opinions in here and they all have solid points! I live in CA but have done several out of state fix & flips. The first big check box is finding that property sweet spot. It needs to be in a rentable or flippable area. Then it needs to a light to medium rehab which allows for a fast rehab process. DON'T GET STUCK WITH A LENGTHY REHAB JOB! Next, be sure you have your crew on deck to get the work started and done IMMEDIATELY so you can get your rehab funds out timely and not have a lot of draw fees. Most importantly, have your exit loan strategy ready on deck just in case you don't flip it in time and need to refi out. DESPITE ALL THE INFORMATION YOU'RE GETTING HERE...THE 1 TRUE CONSTANT IN REAL ESTATE IS THAT "IT'S ALL ABOUT THE NUMBERS". If you get the 100% financing...make it work! Good luck!

@Stephen Blair ... you get any DM's on how to analyze this type of deal?

It make take some time but for loan amounts that low, usually a local credit union or small bank will do it under their Commerical/Business Loan. MAYBE! :-)

@Matt Rutter...any luck finding a PM?

@Zachary Marks...any luck?

Focus on your COC return numbers. Of course we always want the best of both worlds but you now need to decide if your buying for equity or rent returns. Don't let the fact that someone else is willing to overpay influence your numbers and your wallet. Is the inspection clean? Is $700 cash flow really enough if something goes wrong? A triplex in Cleveland at that price can't be new (I'm assuming). If the appraisal is solid & thorough then it may be telling you something.

So, we've been in Detroit for a year now and learned a lot. Detroit proper and the surrounding cities all have municipality involvement. Meaning, you want to make sure you ask the seller & the agent representing you of there City Rental/Occupancy cert is current. If not, you will need to get that done. We've learned that if you stay above 9 mile, then you're more likely to find solid rental pockets. We've run into property mgrs who will not take on anything with "Detroit" in the address, even if it's next to a solid neighborhood because of city involvement and red tape. Price points vs what you can get for rents are attractive with the right due diligence. 

@Ronald Rohde...what specifically do you like about "industrial NNN" ?

@Marc Rice & @Patrick Drury ...I would greatly appreciate your referrals as well. Currently made an offer on some 4 plexes

@Greg Scott... 1) In a Fund, is the GP required to comply with SEC laws just like a syndication? 2) If you collect a pool of money for fund, is there a holding expectation before you purchase an asset?